[Resolved]  Anand Rathi Commodities — Transactions without intimation

I opened a commodities trading account with Anand Rathi with a deposit of Rs.1, 00, 000

In the beginning it all went fine and I traded and made profits to the tune of Rs.35000 in three weeks, soon after, the Rathi staff started transacting on their own in my account and most of the time without intimating me. Mostly I was intimated after the transactions were complete & either profits or losses were already booked in my account.

Some days later, my positions were squared off in some transactions without intimation to me, resulting in losses of over Rs.70000. I was not told about the square off and the losses until the next day after their staff took an additional cheque of Rs.50000 saying that I was trading on short margin. After giving the cheque, I was told about the loss in my account and very furious, I told them not to put my cheque in the account until this issue is resolved.

They held on with the cheque for over 15 days without resolving the issue and I came to know about some more transactions in my account without my knowledge through auto generated reports in my e mail.

Immediately, I sent a mail to the concerned staff and told then about the transactions and that I would like to close the account and have my cheque back. I also told them that I shall not be held responsible for any further losses due to these un reported transactions.

They instead put my cheque in the account and obviously it was returned. I also came to know later that my account now stands at Rs.37000 in debit due to losses in the transactions that I was not aware of.

I have been getting regular calls from Anand Rathi staff since last week to pay the deficit and I told them no way, until I take up this issue with the chairman as well as SEBI & consumer forum.

Now they are telling me that they will take a legal action on the cheque bounce.

Well here I would like to ask, is there some one to put a tab on all this. Brockers make transactions in the account to make commissions. Some times they make profits and most of the times losses are incurred and these people are playing with consumer funds. Web is full of similar complaints & no one seems to be bothered.

Currently I have lost my 1, 00, 000 plus the profits of Rs.35000 in addition to the deficit balance of Rs.37000, taking the total loss to over 1, 70, 000 in just 6 to 8 weeks.

Will some one look into the matter and help me fix this issue.


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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  3 CommentsShareTweet


Neeraj Jee,

I also went through the same fraud at Anand Rathi, Jajpur, Orrisa, I started with 700 shares of Allahabad Bank, as I had planned it as as long term investment, I went to Anand Rathi office to enquire about the latest value of my shares, I was shocked to know that I was left with only 150 shares. All 550 shares were sold without my notice or consent, when I asked the broker he told me to contact the Manager, and manager in turn told me that broker is solely responsible for this fraud. The amount of the sold 550 shares are not in my account, please suggest me what can i do to bring that broker and manager to book.

Hello Neeraj,
I have same complain, Their staff member's to earn commission, without your intimation purchase and sell stocks using your account. I'm also recent victim for same. Can you please let me know what you did to recover you loss? Have you complained anywhere else? or got any response.

I would also like to complain for same, i would appreciate if you can guide me in this matter.

What ever u told is agreeable.once the trade is done without your knowledge or without informing to u they company cant to do anything behalf o[censored].
1. u would have sign in a document for authorised person to deal in your trading account.
2. Dealer is only responsible for that
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