[Resolved]  IndiaBulls — Loss due to negligence

Address:

Haryana

Dear Sir / Madam,

I am writing you with heart fill of distress and a feeling of cheat, I have been holding a Demat account with Indiabulls and opened a trading account also in Last year considering the faith and trust I had on Indiabulls.

Mr. Tilak Bhardwaj was dealing me on behalf of Indiabulls. As to start with trading he suggested me to buy stocks in JP power which resulted me to loss of around Rs10, 000 , later in order to recover the losses he asked me to trade in future options (put), which i was not very sure about, but he convinced me that I need not to worry and he will take care of everything and would recover me the loss. For sometimes he has done trading in put and one fine day i realized that i have not been getting any calls from him since one week, than i called him up only to realize that he resigned and joined some other organization. When I inquired about status of my account he told me that he will come back to me with my account details next week, since than i was repeatedly trying to get my account update which he could provide only two days back saying that your account balance is Rs 4000, i shocked to hear that as there was around Rs 25000 in my account when he was doing trading for me. When i asked the reason for the same he told me that as he resigned and transferred my account to somebody else in Indiabulls who had not taken care of the account that time and due to which my position wiped out and resulted in loss of Rs 21000 to me. He also washed away his hands by saying that it is not his mistake. In between i also got mail/call from Indiabulls regarding the assigning me the new RM who was completely ignorant what and how the above incidence happened to me and only suggested me to contact to Mr. Tilak Bhardwaj or Indiabulls helpdesk. Here i am not interested in identifying the responsibility for this sheer negligence, unprofessionalism and loss to customer, but what all i want is to request the Indiabulls management to compensate all my losses which incurred to me due to mismanagement at your end.

Looking forward to hear from you soon and compensate the losses to me at the earliest.

I jave written the above mail to Indiabulls and they replied in after one week with the following reply...

Dear Mr. Rana,

With reference to your mail received on 04.05.2011.

This is to inform you that all the trades in your account were executed for and on your behalf and the confirmation for the same was also given to you in due course.

Your account was in margin call and you were informed about the same in due course of time,since you failed to clear the debit therefore your position was squared off by our Risk management Team

Regards,
PREETI ARORA
Help desk
INDIABULLS

After thant i m continously following with them but they are not listening to me.