[Resolved]  Anand Rathi Share And Stock Brokers Ltd — Breach of Trust by the Funds Manager

Address:

Mysore, Karnataka

Dear Sir,


Ref. : My Client reference No. of M/s. Anand Rathi : GBN9C007 a/c. at Mysore

Based on the persuasion by Mr. Nagendra, Senior Manager, M/s. Anand Rathi Share & Stock Brokers Ltd., Mysore Branch, on 3rd Nov. 2009, out of 600 shares, I sold 100 shares of Canara Bank @ Rs. 331/14 and gave Mr. Nagendra a sum of Rs. 33,114/-, through M/s. Anand Rathi, with a strict instruction to invest ONLY in good healthy shares.

Mr. Nagendra breached my trust and went on investing erratically my funds as per his whims and fancies and now I am left with 50 shares worth Rs. 11,180/- of some unknown company.

By his callous act and attitude, he brought down the amount of Rs. 33,145/- to
Rs. 11,180/- in a very short time (from Nov. 2009 to June 2010)

Is it possible to have some sort of regulations on such Managers who are suppose to protect the investors funds, but indulge in these sort of
activities ?


K. CHANDRAHAS.