[Resolved]  Angel Broking — CHEATING MIS SELLING

Angel Broking Sector 44 Chandigarh is regularly charging the delay payments of the excess amount on every 15 days (twice a month) in my account, but not sending any details of these charges. The free time of the 5 days as agreed by the officials of the Angel Broking can not be checked without proper details. Further rate of interest and other charges charged by them are also missing. Further they are selling the holding at any day as per their choice, without prior notice and also charges the interest at excessive rates. No one heard the request of the customer, if details of these charges are requested time after time. Hence customers are harassed by this very much.
Further many undue penalties are also charged by Angel Broking, which was also not mentioned in any document of the company. One of the penalty was the a auction of Fedder Lloyd shares at very high rate, which was not exist in before or after 15 days on date of purchase. In this case, I have purchased these shares in the last week of Sept 2009 at nearly 45.00 and sell it telephonically at office next day. No one in the office tell me that these shares cannot be sell before delivery. Next day I found in the back office that these 1000 shares of the Fedder Lloyd still exist in my account at the cost of nearly 52.05 (Actually this share price was between 44-45.50 that day). Next day the official of the office told me that these shares are purchase in the auction and its cost is higher. These shares are not at the cost of purchase by the company. The excess charges deducted from my account CHND817 is still not returned to me. Whereas in the other companies, these excess auction charges are returned within one week after settlement. Are the Angel Brokging is doing making undue profits by making this type o[censored]nlisted charges. These are many problems which are suffered by the customer at Angel Broking.
I am now thinking of changing of account to any other broking company, which should have good relationship record with customer.
SEBI should look into these type of the fraud company's charges and other document on the routine basis, so that a geniune customer do not suffer.

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