[Resolved]  Angel Broking — Mis selling

Address:

Indore, Madhya Pradesh

I opened an account in Angel Broking about 2 months ago, thinking that it is a reputed company ( after such cheap and dirty tactics used by them I dont think that the company is REPUTED any more). The sales representative of the company told me brokerage was charged @ 0.03% for Intraday and 0.3% for delivery based transaction initially. And since I have opened account initially with Rs 25000, they told me to reduce the brokerage to 0.02% and 0.2 % respectively within one or two days. We aslo asked about the minimum brokerage per trading day we have to pay. They said no minimum brokerage rule is there. However on checking the contract note it was found that they were charging @ 3 paise per unit (and not on turnover) on maximum of the stock. They also charge minimum brokerage many times. I brought the discripency in the notice of the company very first day. Firstly they have said we have send letter for approval. Then thereafter they are befooling us by giving us irrelevant excuse (which later on they refuse itself). But no action was taken for full month. Meanwhile I lodge complaint at head office . The complaint was forwarded to Indore office. On talking with Indore Branch Manager, they told that there is a pressure on Sales man to sale the plan , hence they mis sale you the plan (if you know that sales man are befooling the consumer and then also taking his side, this means he already has knowledge about such type of cheap and dirty tactics used by there sales representative). And afterwards they told me that your complaint is resolved (without taking any decision or action). Still the problem is unresolved. As I am very new to Stock market , I request the reader to suggest to lodge complaint against company in Small Investor Protection Forum or to SEBI or file case in Consumer forum.