[Resolved]  India Infoline / Demat Account — Trading of shares without my consent

With reference to the above subject I would like to register my complaint against India infoline with whom I have my demat account with user ID - Kavisun2. In the beginning I was able to check my account from my laptop but later on there was some technical problem due (software upgradation) due to which I had no access. I was at the mercy of my relationship manager Mr. Debashish to operate my account which was with Vashi branch. However after the markets had crashed I had informed him clearly to hold on all my shares and do not trade untill the markets go up. But I realized later that inspite of my instruction some one had traded and sold off all my shares without my consent. I have written several mails and complained to their customer care but they have not reverted with any positive reply. Would request your assistance in this regard. I am pasting below the series of communication had with India infoline.

From:
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To: "[protected]@rediffmail.com" <[protected]@rediffmail.com>


Subject: Re: Re: Re: Re: Re:


Date: Mon, 18 May 2009 17:14:01 IST









Dear Sir/ Madam,

With regards to your mail for the login id KAVISUN2, kindly note that we have forwarded your query to your relationship manager Mr. Shoeb Master contact number [protected], further he will revert you shortly.

Until then we request you to coordinate with us.

Assuring you of the best of our services at all times. Please get back to us for any clarifications.

Warm Regards,

Gopi.















CASE :- 434178

Dear Dinesh,

All transactions done in the month of August after 05.08.08 has been without my consent. I had a discussion with Debashish who was handling my portfolio and had clearly informed him that since the markets have crashed please do not do any tradings and hold on to all stocks. I had also visited the vashi branch office and personally met him and informed him & his senior about holding back all shares. Infact he had invited me to office to discuss and invest more in the stock market. I want you to check with Debashish mobile no - [protected] for the same.

I also recollect after Debashish left the company some other executive who was assigned my account had called on me and wanted to fix up an appointment to meet me. This person was also a resident of Kharghar, I do not recollect his name. I had bough the shares at a higher price and what benefit would i get by selling it at a lower price and lose all money ? After selling the shares where has the money gone ? I want you to investigate my case and catch the person responsible for breach of trust.

Thanks & regards,

Sun Sujathan

Mob - [protected]



On Sat, 16 May 2009 15:18:53 +0530 wrote
>
>Dear Sir/ Madam,
>
>With regards to your mail for the login id KAVISUN2 please note that we request you to specify the reason for unable to login in your Terminal so it will help us to check and give the required solution for the same.
>
>Further we have attached the ledger statement and the port folio statement for your reference, hence you are requested to specify the date and the scrip which you feel as it had been sold with your concern so it will help us to check and provide the require solution for the same.
>
>Further we are not in receipt of request letter for the branch change hence you are requested to send the scan copy of the request letter so it will help us to check and provide the require solution for the same.
>
>Until then we request you to co-operate with us.
>
>Assuring you of the best of our services at all times. Please get back to us for any clarifications.
>
>Warm Regards,
>
>Dinesh M
>
>
>
>
>
> CASE :- 431057
>
>Dear Dinesh,
>
>Thank you for your response. My account was with Vashi Branch and was assisted by one Debashish. In the very beginning itself I was unable to login to my account and hence Debashish used to operate my account. After the markets had crashed I had checked with him and advised him to hold on the stocks until the market recovers and further notice from my side. However I now understand that all my shares have been sold off. Debashish is not answering my calls too I suspect some fraud.
>
>My branch change request was submitted to your Seepz branch office to Sandeep Daryani.
>
>Kindly check and revert
>
>Thanks & regards,
>
>Sun Sujathan
>
>
>On Mon, 11 May 2009 12:17:03 +0530 wrote
>>
>>Dear Sir/ Madam,
>>
>>We do apologize for the inconvenience caused to you.
>>
>>With regards to your mail for the login id KAVISUN2 please note that we request you to clarify wether you are unable to login your Terminal so it will help us to check and provide the require solution for the same.
>>
>>Further we request you to specify when and where the request letter has been sent for change your Branch so it will help us to speak with your branch and get it resolve the issue because we have not receipt for any request.
>>
>>Your respond in this regards will help us to assist you further. Until then we request you to co-operate with us.
>>
>>Assuring you of the best of our services at all times. Please get back to us for any clarifications.
>>
>>Warm Regards,
>>
>>Dinesh M
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> CASE :- 428329
>>
>>I have not been able to access my account since long and have been continuously following up with the SEEPZ branch. I have filled in a form for transfer of my account from Vashi to SeepZ branch but till date i have not got my account transferred. Repeated follow ups have also not helped, I would be forced to approach the consumer court if this is the response that I get.
>>
>>Sun Sujathan
>>Mob - [protected]
>>Login - KAVISUN2


Thanks & regards,

Sun Sujathan