[Resolved]  Reliance Money — Daily changes in Ledger Balance

Dear Sir,

I have a Demat A/c in Reliance Money. Client ID 00073858. On 5th February 2008, I checked my Ledger Balance and it showed me an excess amount of Rs. 1,14,800/-.

I checked the contract note of 4th February 2008 sent to me by the Company, and it showed me that there are 800 excess shares of RNRL sold by the Server at 3:03 pm. It cannot be done from my side as Reliance Money does not accept margin order after 2:55pm. So they sold 800 shares short from my account and credited the amount to my account. I made a complaint and they say that on 8th the shares will go for auction and then only they will be able to do anything with this.

Now on 6th Feb 2008 when I checked my ledger balance, it showed me -54,505/- (negative :-O). Now when I called up customer care and got to the executive after 20 minutes of regular hold time, he says that the excess amount has been deducted and it will be solved only after 8th Feb 2008.

On 6th Feb 2008 night, I again checked my ledger balance and it was again with an excess amount of 1,14,800/-. On 7th Feb 2008 Morning it shows me a balance of 9,554/-. And as earlier customer support executives are not able to tell me anything about this continuous changes in my ledger balance. I am a new and small trader and cannot afford such losses.

I had an amount of Rs. 25,000/- in my account and Rs. 25,825/- which I applied for Reliance Power IPO (dont know whether the refund has been made or not). And now I am not able to understand whats happening with my money in m account.

Reliance money has given the worst support. The executives pick the call after 20minutes of hold and then most of the time the again put you on hold and disconnect the line. I have wasted nearly Rs. 400/- in last 2 - 3 days on my mobile to call their STD customer support no.

I will suggest everyone not to go for an account in Reliance Money ever in life. If anyone has suggestions for me please send it to me.