[Resolved]  Motilal Oswal Securities Limited — Unfair Trade / Loss to Consumer

Address:

Pudukkottai, Tamil Nadu

My Customer Trading ID: PROPG57, Client: C.GUNASEKARAN A/c. Ref. No.[protected]

I am a businessman based in Pudukkottai, Tamilnadu. I have been trading through Motilal Oswal Securities's Franchise office at SIVAKASI since 2006. At Pudukkottai, I have been interacting and trading through MOSL representative / franchise Mr. RAJARAM (Mobile: [protected]).

I had shares worth of Rs.80,000, MOTL's representative has traded in my account without my instruction / knowledge. In this course, my shares were automatically sold to set off against Trading loss / negative balance in my account. This is an unfair trade practice, as customer has signed a document to act on behalf of him, the franchise takes liberty and creates loss to the customer. This i came to know only after the franchise closed his office and ran out of my town.


I have complained to main franchise office at Sivakasi Sub-brokers - Mr. Kannan ([protected]) & Ms. K.Amutha ([protected]) of Professional Investments Corp., Sivakasi, Tamilnadu on this and initially they talked to their representative Mr. RAJARAM to settle my loss / replace my shares in my demat account. Then they are now just postponing and resent days not picking up my phone calls.

I complained to Motilal Oswal Secutires, Grievances email. Initially they responded and gave some time period that my issue will be resolved, now there is no response for my mails. I am not able to contact their Mumbai office nos.

I have lost around Rs.70,000, due to this fraud committed by a franchise / representative of Motilal Oswal Securities Limited.