[Resolved]  Raksha Investment / Reliance Money — Broker sold my shares without my notice

Dear Sir

I have hold this account in Reliance money through Raksha investment (Baroda) and then Mr Mehul Shah has sold many of my shares and was doing trading in my account without my consent or informing me. When I was in India recently this came to my notice.

He agreed to revert the transactions back, as per the mail below, but is not doing so. I have tried to take help from Akash Kejriwal of Reliance money but couldn't put pressure on him. I would like you to interfere and solve my problem as soon as possible. I have opened the account in the name of Reliance Money and not Mr Mehul Shah. I was shocked to know how he was able to sell my shares, but then was able to understand from Akash.
I was always thinking that shares in my Reliance Money is safe and no body can touch it without me logging in to the account, but it is not the case.

This is the biggest loophole lying in the trading account of the company. It should be looked into and make it more safer for customers like me. I know Mr Shah is doing similar in other NRI accounts as he told me himself. He is earning brokerage by doing unnecessary trades, as you can see from my account, which he does in many NRI clients accounts.

I have trust in Reliance and hope I should get my original lots of shares. I have been writing E-mails and telephoning him almost daily since last 2 months, which also costs me. I am sure you can put pressure on Mr Shah and ask him to do this transaction tomorrow only.

I am writing to you as I have lost my patience and not getting quick response from Mr Shah or from Reliance money. I have written so many E-mails to Mr Anil Ambani and customer support at reliance money, but all in vain and nothing is happening.

Thank you
Yours sincerely