[Resolved] share trade services — COMPLAINT AGAINST ANAGRAM CAPITAL LTD
DDr NITUL THAPAR
COMPLAINT AGAINST ANAGRAM CAPITAL LTD
I Dr Nitul Thapar am a resident of Delhi. My address is:
KAMLESH MEDICAL CENTRE,
423 BHERA ENCLAVE
PH [protected]®, [protected](m),
I am a practising doctor in Delhi and have my demat account in Kotak securities DP ID - IN 300214. I was not able to trade with Kotak securities as the charges taken by the company were unacceptably high according to the services rendered by them.
In the month of august 2008 I was persistently called on my phone by a relationship manager from anagram stock broking ltd .He promised me better services at a very reasonable cost as compared to other stockbrokers.
So in the first week of September 2008 I opened my trading account with anagram stock broking ltd and paid advance cheque of Rs 25000/= via chq no 000014 dated 19th august 2008 (account I d 10861345/ 19300600 is the only detail I know about my account).
Since the opening of the account I have faced many service deficiencies on the part of this company. I was not provided with a copy of Know Your Client form, Member Constituent Agreement, Risk Disclosure Document as per the norms of the N S E and as told by the advisors of the company. They were supposed to come by post on my address (which I am as yet to receive).
I transferred my stocks, (which were accumulated for long term purposes, such as for the education of my two small daughters, over a period of 4 years after a lot of hard work), from my Kotak account to anagram capital ltd on the request of the company’s advisors (Mr Abhijeet Dubey and Branch head Mr Manish Jain) so that they could reduce the demat account charges levied to me by Kotak securities. It was promised to me, there would be no demat charges in the anagram capital ltd account.
As it was a slow process, Mr Abhijeet Dubey asked me to deposit more amounts in my account so that trading could be done as to purchase some shares available at a reasonable price at that time.
I deposited Rs 40000/= via cheque number 000017(Kotak bank) dated 23 October 2008. Receipt not received and neither are the account statement / margin statement ever received by me, only contract notes were sent as intimation of trade.
I did not get any statement of accounts or any receipt from the company telling me about the availability of funds in my account or any explanation of the procedure regarding the usage of the account or, for that matter, procedure regarding the accessing of account from internet. No password was delivered to me for the same despite my persistent requests to these advisors. I was explained by the senior relationship manager Mr Abhijeet Dubey that all this is a routine procedure of the company and that it may take some time as a procedural delay, as their head office is in Mumbai and base is in Ahmedabad. I was also explained by the same manager that the trade is carried out by the relationship managers ONLY after a recorded telephonic authorisation is received by the branch. So I was assured that the trading is very safe.
He also assured me that the brokerage charges would be brought down to ZERO if I paid a one time charge of Rs28090/= to the company and that a new scheme had been applied which would allow me to trade for up to 10 lacs in a day without any brokerage charges up to 1 year from the date of cheque .That is why I paid another cheque of Rs 28090/= dated 25 October 2008 to Mr Abhijeet Dubey.
On 31 October 2008, to my utter disbelief, I got a call from the branch in which I was informed that there was a trade of nearly 65 lakhs in my account (carried out without my knowledge or authorisation probably to earn brokerage amounts by the branch manager Mr Manish Jain himself). I was asked to confirm the trade, and when I declined, I was assured that it was a mistake and that it will be corrected soon. I did not receive the contract notes for the same.
On the 6th of November 2008 after a strong exchange of words I was only able to obtain a duplicate copy of the said trade. I complained about this issue to their senior manager Mrs Neelam Dhingra on telephone (the conversation was supposedly recorded by them) and via email (to which she responded promptly).I was assured that the matter would be discussed at a senior level - with the country head Mr Ajay Saraogi. I was verbally promised not to be charged with the brokerage for the trade(no written documents were received by me about the same ). I was also promised a written apology (which also I am as yet to receive). Later I heard that Mrs Neelam Dhingra has left the company.
All these events more or less were repeated in the month of December. I got a call from a certain Mrs Mini from the branch office to give me another confirmation for the trade done on the 10th of December 2008. Then again, it was not authorised by me. After yet another direct confrontation with the branch head, I was assured that Mrs Mini’s job will be terminated. As to why / how all this happened, I am yet to receive a reply.
On 7 January 2009 I got a call from Mr Abhijeet Dubey on Behalf of the branch head advising me to purchase Satyam shares for Rs 130 per share. He advised me to purchase 100 shares, but I refused and told him to purchase only 50 shares (the call was again supposedly recorded by them) .Without my consent and knowledge Mr Abhijeet went ahead and purchased 1000 shares. After half an hour he called me and apologised for the same, but the transaction had already been done. Then Mr Manish Jain called with his explanations. I asked him how is it that he does not know what transactions are taking place in his branch. To this he switched off the phone.
The same day within 2 hours Mr Abhijeet came to my nursing home with his junior Mr Amit Chaterjee. He requested me not to complain on this issue because supposedly it would undermine his job. I refused all his explanations. He retaliated by threatening me with the loss of all my money. I was told that all my shares will be squared off if I complained. This man also assured me that he will face no consequences as his father is a lawyer, but it would take me years to recover my money through courts.
The next day I contacted Mr Abhijeet on the phone. This man went on to say that all my money is lost and I have to pay Rs 132000/= extra to cover the existing loss. If I refuse, he will make it sure that I will lose all my remaining assets with anagram stock broking ltd.
In distress I sent multiple emails to all the email id s I could find on the site of anagram explaining what has happened.
I request you to kindly take up my complaint and help me in fighting my cause as I am being harassed by these people. No one in this company is giving me details of my account or is even ready to explain to me what has actually happened in the account. I have made persistent requests too many departments to help me find out my legal rights in this issue. But it seems no one has the right knowledge about all this.
I am also sending you the copies of the contract notes of the trades done in the account without my permission or authorisation.
I thank you and request you again to please help me in this matter as I m in a great deal of financial loss. I am a practising doctor and I cannot afford to spend much time away from my patients. I do not get much time to study the law or the legalities of law. It is very humiliating to know that the managers of this company have taken me for a ride.
Now, because of this my family is also disturbed, as the money which I had earned for the past 4 years and kept for education of my two daughters has been taken away from me by this company.
I am now losing on my practise too, as I am devoting much of my time in recovering the losses I have had to bear because of this company.
Thanking you before hand and hoping to hear from you soon.
Please help me and kindly reply.
Complaint marked as Resolved Aug 14, 2020
Category: Business & Finances
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