Comments
I have a similar and worst experience with Globe Capitals. Myself and my wife have retired from government services and are pensioners. During my service, I had opened demat account with ICICI Direct and had few stocks of reputed companies worth rupees 3 lacs or so. Last year in January'2013, Mr. Sanjeev Kumar from Globe Capitals approached me for opening account with Globe Capitals for trading in stock. I categorically told that I have no experience in the trading and I had been only doing online small transactions in respect of stocks held by me. Mr. Sanjeev assured that I need not have any experience in the trading and he will do the trading on my behalf with assured returns as I am only a retired person. I invested Rs. 1 Lac at the time of opening my account in Feb'13. I early March'13 all the stocks worth Rs. 3 lacs were also transferred to Globe account. From time to time thereafter Mr. Sanjeev and his team member collected Rs. 1.75 lacs more from me between the period of June'13 to March'14. I was not able to access my account as the password worked initially and everytime while collecting more amount, I was assured that my password would be forwarded shortly. This never happened till I received my account statement in Oct'14 showing credit of only Rs. 10, 000/- against my stocks worth Rs. 3 Lacs and my investment of Rs. 2.75 Lacs. I immediately responded to the statement and also rushed to the office of Globe Capital and met Mr. Snadeep. He gave me bunch of papers showing contract notes and transactions. I went through the bunch of papers and noticed to my shock that most of the transactions causing heavy losses were made without my knowledge. All the stocks were also sold giving me the excuse that after loss of entire investment further debit in my account they sold the stocks as per the practice.
After above shocking revelations, I have made number of visits and met Mr. Mayank Chauhan Branch Manager. In spite of assurances I am not getting the recordings of illegal transactions as well as copies of contracts notes involving sale of stocks. With the constant persuasion I could get only a stereotype reply from Globe Capital that all the transactions were to my knowledge and nothing can be done. With my bad experience of life, I will only advice everybody that Globe Capital is run by novices like Mr. Sanjeev Kumar and they play recklessly with your money. My experience also reveals the financial expertise of Globe Capital in stock trading as besides me there must be many other unfortunate persons who have suffered losses because of immature handling of funds by Globe Capital. Those who earning profit must be because of their own experience in the trading and not because of any proper professional advice by Globe Capital who have no ethics as at no point of time Mr. Sanjeev or any of concerned relationship manager from Globe Capital visited me to inform that I was regularly suffering losses and they still continued to collect more money repeatedly giving a false information that additional investment was being made for high profit earning transactions and all my stocks and early investment were safe and secured.
May I request for advice by any expert in this field who can show me the way to recover my losses or at least to ensure the punishment to the culprits so that they do not play with the hard earned money of retired persons like me.
After above shocking revelations, I have made number of visits and met Mr. Mayank Chauhan Branch Manager. In spite of assurances I am not getting the recordings of illegal transactions as well as copies of contracts notes involving sale of stocks. With the constant persuasion I could get only a stereotype reply from Globe Capital that all the transactions were to my knowledge and nothing can be done. With my bad experience of life, I will only advice everybody that Globe Capital is run by novices like Mr. Sanjeev Kumar and they play recklessly with your money. My experience also reveals the financial expertise of Globe Capital in stock trading as besides me there must be many other unfortunate persons who have suffered losses because of immature handling of funds by Globe Capital. Those who earning profit must be because of their own experience in the trading and not because of any proper professional advice by Globe Capital who have no ethics as at no point of time Mr. Sanjeev or any of concerned relationship manager from Globe Capital visited me to inform that I was regularly suffering losses and they still continued to collect more money repeatedly giving a false information that additional investment was being made for high profit earning transactions and all my stocks and early investment were safe and secured.
May I request for advice by any expert in this field who can show me the way to recover my losses or at least to ensure the punishment to the culprits so that they do not play with the hard earned money of retired persons like me.
I want a legal action to be taken on this executive who yesterday said me "do whatever you want, this company and i will work as we want.." Hes decreasing the goodwill of the company and the company is so playing with my money.