[Resolved] Religare Securities — Cheating and fraud
I opened demat account with Religare in Jan 2008. I gave 3 lakhs for opening the account. My agent started trading on my behalf. I used to get confirmation call every day on the transactions done. I also added more funds after that to clear my debits. But when market started falling in mid Jan, I instructed my broker not to invest any more.
Now I realize that all my money has gone and I even dont have any stocks in my portfolio. My agent says that he has lost all money in Future & Options due to lower circuits etc. and over exposure.
I never gave him permission to operate in F&O. Further, I never permitted him to invest more than the money I have in my account.Also, even after my instruction to him to not to trade further, he still traded. He nver informed me about these loses and kept me in dark.
I am going through a very bad phase . I am a salaried person and single earner of my family. It is a big loss to me. Can somebody please help and suggest on what can be done. I will really be very obliged to him/her.
Complaint marked as Resolved Aug 14, 2020