[Resolved]  Shriram Insight Share Brokers Ltd. — Cheating & Fraud done by Branch Manager of Share Broker

Dear Sir,

I am enclosing a letter written to greivance cell of Shriram Insight Share Brokers Ltd. The letter was as follows :

I am enclosing herewith copy of complaint lodged to helpdesk of shriram insight share brokers ltd. On 17.11.07 and which is not solved till date. Though I have mentioned clearly that I have lodged the complaint to helpdesk but may be you have not asked them regarding the complaint and about non referring the same to you.

“I would like to register my complaint to you. I have opened a account in September, 07 in your firm (Nashik Branch, Sharanpur Road).

As I have been trading since September and I was happy to trade with you but on Ist November I have recd. A call from Mr. Vikas Mishra (Branch Manager) that RPL looking strong so we should buy RPL then I given order to Mr. Vikas Mishra to buy RPL and sale it if script goes up by Re. 1.00 or Rs. 2.00 but always put Rs. 2.00 stop loss so if mkt. falls suddenly we save ourselves by huge losses.

Till 3.29 I was informed that we have trade 5-6 times and we have earn good profit today and we have been carrying 1 lot of RPL of 249.65 and 1 lot of Neyvelli Lignite, which were brought in previous day.

But suddenly at 8.52 pm I have recd. A massage from Mr. Vikas Mishra as follows :-

“Sorry I could not call u. Don’t worry Posn. Ok. I m in Igatpuri. Tmro talk Gd. Nght sir.”

Again at 1.30 am ( in midnight) I have recd. A massage from Mr. Vikas Mishra as follows :-

“Today booked pr. 36k in rpl. Tdy open posn. Rpl 2 lot @ 288 avg. Totl 3 lt rpl open pos. My cell is down….”

Then next day I asked him that I was not bought the RPL 2 lot so you clear it from my account otherwise I will lodge complain to your senior and in help desk then he told me that : “ Sorry sir Its my fault actually I brought 1 lot @ 295/- and to average I further bought 1 lot @ 281/- but mkt. suddenly fall. Its my mistake and for god shake you adjust for this time only mkt. will go high and I will sold out these lot and not a single penny loss to be born by you.”

I said OK these 2 lot not to belongs me so you do whatever you want.

Sir, again mkt. goes down and my 2 lot of RPL position cut by your risk management on 07.11.07 and booked loss nearly Rs. 509000/- in to my account. Then I asked him regarding this then he told me that its his duty to carry 2 lot of RPL for you, even I will fight with our risk manager and on my goodwill they will allow you to carry 2 lot of RPL.

But eventually new position was banned by SEBI in RPL, then he told me that I have talked with our analyst Mr. Parth and he suggest to carry Power Grid & Voltas 1 lot each and he brought 1 lot of each script on 08.11.07

On 12.11.07 at 3.26 pm I receive a call from Mr. B. Goswami from your branch that a call is received from risk management and they want Rs. 50000/- cheque for M2M, I was out of town then he advice me to give a cheque no. to avoid cutting position, which I gave to him.

Next day when I saw my account I found that 1 lot of voltas position sold out and a loss of Rs. 33408/- was booked. I could not understand that what is going on. I asked Mr. Vikas Mishra about this and he assured me that he will talk to his risk manager how dare he cut the position of voltas he asked Mr. B. Goswami regarding this and he told that Risk manager told me to send the scan copy of cheque which I could not send so he cut the position I strongly opposed for this and told him that what you people are doing this with me you don’t have mind in this situation even you can sold out Shasun Chemical (Equity) 1000 shares lying in my account.

There is no information from your branch regarding all these activities only I came to know next morning when I saw my account on site.

Sir, I am shocked with all this happening and I even could not sleep in night due to heavy losses which is due to your employees’ s fault or mistake.

I, therefore request you to please do the needful or justifiable at your earliest as I am afraid and shocked .

I opened the account after recommendation from Mr. Sandip ji /Himanshu Bhardwaj (from your Gurgaon office) that Shriram Insight brockerage firm is very much honest and there will be no cheating from their side.

I hope justice from your side as I am not in a position to bear this huge loss.”

With Regards

Hema D. Sharma

Was this information helpful?
No (0)
Yes (0)
Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  31 CommentsShareTweet


if you face your subbroker cheating so please contact with me
if you face your subbroker cheating so please contact with me
1) share broker complaint prosses (terms and condition*)
2) stock broker complaint prosses (fees reqrd..*)

if you want legal..prosses of .share broker and stock broker or sub-brokers complaint then please contact with me..

my suggation is that for all share trader/all investor in stock market ..if you open you a/c in a sub broker of a main broker so please tk my good advice..
1) you tk your a/c opning form X-rox copy after a/c opening
2) if you open a/c in a sub broker then first you need his ragistraition SEBI AND his MAIN BROKER
3) if you give the cheq to you broker or share sub broker then you demand from him RECIEPT of your cheq but it is importent the recipt done by his main broker and signature by his main brokers permanent* branch manager
4)if you order to your broker for buy or sell then first your knowledge what is your limit becos some froud broker giving unlimited order on with out credit...
5) you give order only on your rupees..(JITNI CHADER HAI UTNA HI PER PASARO) jyada karoge to maroge..
6) all done order /exuceted need from your brokerthease confirmation on letter attested by permanent branch manager of main broker
7) all time tk your contarct note by email and ledger and daily cheq by you..
8) jab se aap a/c open karo to daily balance bhi poocho..
9)a/c open hone ke baad aap ek letter per ye sabhi jankari likh kar apne broker se attested karwa yadi kuch bhi false me complaint karne ke liye bilkul free rahunga..

yadi aap in sabhi tips per chale to aap kabhi bhi is condition me nahi ayoge ki aap ko share broker ki complaint karna pade ya aapko koi bhari nukshan ka samna nahi karna padega..

if you face your subbroker cheating so please contact with me
1) share broker complaint prosses (terms and condition*)
2) stock broker complaint prosses (fees reqrd..*)

if you want legal..prosses of .share broker and stock broker or sub-brokers complaint then please contact with me..

sikchi dilip ramgopal
complaint aganist shriram insight
mr sikchi dilip ramgpal ji

please give me the all detail on this plce compalint against insight share broker ..i hv to solution for all...
I opened new account with Angle Brokeing Ltd. on 28th of January and I am receiving my Welcome kit today on 13th of February, I told the sales guy that I have to fly back to UK and he said I will get in 3 to 4 working days. Also I opened the account to tradeonline from Uk so that I can manage all my investments online. But in the kit I dont have any login or password. when I call the sales guys who sold me new account, they say oh we forgot to take your cnacel cheque so i can not trade online. I have been calling the Sion branch since last 10days to get my kit and my internet login id and password and they are telling me that the courier guys lost my package, they couldnt deliver because they didnt find my address ect ect and another company will deliver my courier, which never happened. When I wanted to talk to the sion branch manager / head, he refused to come on phone with me, when called the Headoffice the girl on the phone said she will call me back in few hours and now its been a day. I wanted to transfer the shares from my friends account to my account so I needed all my information and a guy called Kiran or Stayam cant remember who called me but they gave me wrong account number and DP id (because i didnt had kit) and i have not been able to transfer the shares and the guy satyam is not coming on phone with me, he is just running away, which is the worst insult. I just feel I wasted my time and money after this worst services and i am going to tell as many people I can about your poor service and the insults I have got over the phone and havent received all documents yet, the guys wasted my money and time and no one cares to come on phone and talk to me. I have asked the sion branch to give my deposit money back and If I dont then I will have to lodge a police complaint against the sion branch fraud case and false promises and I will take this to court, if i dont receive my deposit money back. The sales guy who sold me is the biggest cheater i believe because what he is promising while selling is not true. sales guys names Satyam and Gita and the office boy who gave false account information was kiran from Angle Brokeing ltd sion.
Res Sir,
I am having 10 year expirenece of stock market. I am customer of ANGEL BROKING LTD-Mubai
Last 2 year Broking Co are cheating us cause when any script goes 90 or 95 % open intrest they
suddenly told us for compulsary square up over poisition immediatly so we have to suffer big loss
they also not giving chance for hold our position for more days however we send our second day chaque
for margin. It is totally frod with small investor.
my mobile no is [protected]
pankaj kanabar

mena sales corporation karol bagh new delhi — we donot find my courrier

plz sir / madam request to u my courrer seniding from HYD but not dilavry came courrie 6-04-09 bvut today is 08-04-09 so plz check your own work why u do not dilavry on time

My father has invested a huge sums of money in Shriram Insight, can any one let me know the promotors of this company, as I am unable to find any details of the same on the net


shriram insight share Broker pvt. ltd — without inform vacate the office from mohali

Hi I am Harpreet singh R/o # 954 Phase III-B-2 Mohali. your office Manager vacate the office SCO No. 67, Phase III-B-2, mohali Punjab. You change your office without any information so I am in big trouble for trading the share. Pl. send your new office Address to my residence adress and my Ph No. is [protected].
This is to inform you that i am having shares in shriram insight office karol bagh new delhi,
I have to sell it DP is P4D15.
Kindly instruct your person to sell my shares immediately

prabhu dayal verma
15 days back i have submitted account closing form at Kota-rajasthan and it was reached /received at kolkata office during last week. but till date it has not been closed .neighter satisfactory reply has come from Kolkata office.

vikas trading co — demand of money for refund

this for your information that the Income Tax Officials in Karnal (Haryana) are menanding 5% of refund amount in lieu of issuing the refund cheque otherwise they are keeping the cheques with them selves
till they are not paid. Even the hiogher authorties are aware of the matter but are not doing anything because they are getting there share all are corrupt.
Date:- __________
ShareKhan Trading A/C No. = 222825
ShareKhan DP A/C No.= ________________________________

Complaint against Employees of Sharekhan Limited Chandigarh Branch (A Broking Firm) Mr. Pushpinder Singh and Mr. Ravi Parkash Sharma for cheating, committing fraud and for misappropriation of funds.
I had been sent 3 reminders of below written complaint to [protected] & [protected] but I did not get any response from your side. In the last after very hard tried now I am forwarding you by registered post so that you can pay attention on this matter.
I would like to bring the following facts for your kind consideration and also for taking stern action against Mr. Ravi Prakash Sharma (Relationship Manager) & Mr. Pushpinder Singh (Vice President) of SHAREKHAN Limited Company Chandigarh Branch sister concern of SSKI Mumbai based Broking House.
I am resident of H. No. 151, Adarsh Nagar, Colony Balongi Teh. Kharar Distt. Mohali, where I am working with M/s B.S. Enterprises as Manager For the last eight years at Shop No. 19, Sector 42B, Hockey Stadium, Road Atawa, Chandigarh.
In the month of Oct. 2008, my friend Pankaj Kaushal introduced me wth Mr. Ravi Parkash Sharma at my office. There Ravi Prakash Sharma told me that he is working as Relationship Manager with M/s Sharekhan Ltd. (Chandigarh Branch) and my superior Mr. Pushpinder Singh (Vice President), which deals in the business of sale and purchase of shares of different companies. He further told me that they/their company recommended short term shares of different companies for investments & also provide us Buying/Selling tips on day trading for regular profits. He assured me that if I invest in share Market than I will handsome profits rather than Bank FDs, properties Bonds & Mutual funds. He also said that whenever I will get short-term recommendations from my company in different shares, I will let you know by telephonically and suggest you to buy or sell.
After that again Ravi Parkash Sharma visited me with Mr. Pushpinder Singh at my office in Sector 42 Chandigarh and introduced me to Mr. Pushpinder Singh as Manger. He and Mr. Pushpinder Singh forced me further assured good returns if I invest money in share Market for short term as per their advice. They both also mention that whenever they will buy or sell shares for me they will confirm me every day and also I get contract notes of sale purchases of shares by e-mail in the same evening. He projected investment and return of profit in such a way that I also made up my mind to invest money in Share Market. I was newly in Share Market so I needed a good company & advisor who can invest my hard earn money in reputed companies in my name. They both shown me savage garden of profitability in share market. I had believed on them due to my friend Mr. Pankaj Kaushal more over they won my faith & impressed me.
Mr. Ravi Parkash Sharma opened my D-Mat a/c no 17399298 and trading a/c number 222825 for the sale purchase of shares under Sharekhan Ltd. The said both persons Ravi Parkash Sharma & Mr. Pushpinder Singh made false representation with an intention to deceive me and induce me to pay them a sum of One Lac only with a promise to purchase Shares of reputed companies in my name. Accordingly, they asked me to issue a cheque of Rs. One Lac in the favour of M/s Sharekhan Limited, so I gave cheque No. 126827 dt. 26/09/2008 drawn on IndusInd Bank Phase 3B2, Mohali.
Thereafter, on 03/10/2008 Ravi Parkash Sharma again approached me and told me to pay further sum of Rs. Fifty Thousand to yield handsome profits. Believing his statement to be true, I again paid Rs. 50, 000/- vide cheque No. 126829 drawn on IndusInd Bank In Favour Of M/s Sharekhan Limited. To make my good use of my innocence Mr. Ravi Parkash once again approached me and dishonestly induced me to deliver another sum of Rs. 30, 000/- on 23/10/2008, which I gave to him vide cheque No. 205518 in the name of M/s Sharekhan Limited, as asked by him. The said Mr. Ravi Parkash Sharma has also taken my signatures on certain blank forms, papers etc., however, no copy of the same was given to me but he kept on dilly-dallying the same and till date neither any certification of shares has been given nor any such receipt or statement of account has been issued. Whenever I asked about my shares or investment, he always replied it going on well and some wait for good returns. I asked him about my given 3 cheques worth Rs. 1, 80, 000/-, he said all I handover to Mr. Pushpinder Singh who is also maintaining your account. The said Mr. Ravi Parkash Sharma told me every sale purchase of shares held under the nose of Mr. Pushpinder Singh. Then I asked Mr. Ravi Parkash Sharma that no conformation no contract notes I have been receiving you and your company side as you committed by telephonically and by e-mail. He replied, I will check why it is happening and sometime I am busy in my work and sometimes I give you regarding share but your phone get busy.
Again & again asking about my funds, share or profits, I always got excuses from both employees of Sharekhan Limited Mr. Pushpinder Singh & Mr. Ravi Parkash Sharma. Feeling Cheated, I contacted Mr. Pankaj Kaushal and we both went to the office of Sharekhan Limit on 07/03/2009 i.e. SCO No. 489-490, 2nd Floor, Sector 35C, Chandigarh. The receptionist sitting at the counter refused to divulge any information regarding him and suggested us to contact Mr. Ravi Parkash Sharma at his residence.
We then approached Mr. Ravi Parkash Sharma at his residence at mohali and inquired about my investments and receipts. He told me that the investment is making good profit and about the shares is underwork and same shall be available with him (i.e. Mr. Ravi Parkash Sharma) very shortly and shall be supplied to me. He also stated that all the documents shall be issued by M/S sharekhan Limited.
Whenever I met Mr. Ravi Parkash Sharma, he every time kept on lingering the matter on one pretext or the other and every time gave me lame excuses regarding my shares and account. I however, request him to return my aforesaid amount but he has neither returned the said amount nor delivered any shares of companies and not a any profits.
After that, many times I went to Sharekhan office and by telephonically, I asked about my account status and Mr. Ravi Parkash Sharma. They refused me to provide me any information regarding my Trading account and D-Mat account. One day I went to Sharekhan Limit office with my friend Mr. Pankaj Kaushal (Who is introduced me Mr. Ravi Parkash Sharma earlier). We both asked about Mr. Ravi Parkash Sharma and my account status from Mr. Pushpinder Singh. He said that Mr. Ravi Parkash Sharma is on leave from last week, whenever he will come back, he will give you the status of you account and shares. But Mr. Ravi Parkash Sharma was left the job and Mr. Pushpinder Singh lied to us about Mr. Ravi Parkash Sharma.
Anyhow, after a strong struggle, I got my account ledger and I also shown my some contract notes to someone who has kept the experience of stock market. He told me that you have trade in Commodities. I said no never, even I don’t know about share market properly. He told me that all your money has invested in Commodities and played intraday and met with heavy lose. All your money washed in Commodities. Then I shocked and confused, and realised that I lost everything. Mr. Ravi Parkash Sharma and Mr. Pushpinder Singh lied to me and played with my emotions. They used my money for their own beneficial.
Then I and my friend checked background of Mr. Ravi Parkash Sharma and Mr. Pushpinder Singh. They both came from Anand Rathi (A Broking Firm) Mr. Ravi Parkash Sharma committed fraud with Anand Rathi’s clients. Many clients of Anand Rathi has met with heavy loses due to Mr. Ravi Parkash Sharma. He also borrowed money by cash from clients, borrowed amount in many Lacs. They also putted complaint (cheating & Fraud) in Police Stations against Mr. Ravi Parkash Sharma. Mr. Pushpinder Singh also one of the non-performer employee of Anand Rathi. That is way they both left the job from Anand Rathi and joined Sharekhan Limited. They both have bad impression in their previous job.
Sir, it seems that after hatching a criminal conspiracy with concerned persons of M/s Sharekhan Limited, the said Mr. Ravi Parkash Sharma has dishonestly induced me to deliver him Rs. 1, 80, 000/- out of my hard earned income.
I have saved the amount for the upliftment and upbringing of my small children but the said Mr. Ravi Parkash Sharma has fraudulently taken the same from me by making misrepresentation and allured me with a sole intention of cheating in his mind.
Mr. Ravi Parkash Sharma And Mr. Pushpinder Singh has cheated me by giving false promises and has also committed fraud. They have also misappropriated my funds and have breached my trust.
I also submitted my complaint against Mr. Ravi Parkash Sharma and Mr. Pushpinder Singh to the SSP Chandigarh with REF. No. PW[protected], dated 06/04/2009 time 14:34:32. Police has taken actions and went to Sharekhan Limit office to met with Mr. Pushpinder Singh but no result came out. Almost 2 months has been gone but no further action taken by Police.
I, therefore, request your good self to kindly look in the matter and register a case against Mr. Ravi Parkash Sharma and Mr. Pushpinder Singh for having committed the offence of cheating, fraud, misappropriation and breach of trust. You are my last hope, it is my humble request to you kindly take stick action against both culprit person who took away my hard earn money and put me in depression and they ruined future of my children.
As I above written, I have submitted my complaint in SSP office they forward the case in 36 police station under Mr. Jaspal Singh (ASI). He called me and Mr. Pushpinder Singh in police station but Mr. Pushpinder Singh did not come. ASI talked to me about the matter but in the favour of Mr. Pushpinder Singh. When my friend asked ASI, can you help us to solve this matter? He said no!!! And tried to force us to take back my complaint against Mr. Pushpinder Singh.
The bottom line is that all it happened under the nose of Mr. Pushpinder Singh. He traded my A/C without my conformation and made me fool. Every time, whenever I asked about my shares & credit balance he always gave lamb excuse and said you don’t worry sir, your account is okay we are trying to make profit in your account. That person had been played with my money and as well as with my emotions & trust. He did insider trading for his own benefits.
I beg on my knees, please take right action against Mr. Pushpinder Singh who had made my hard earn money into ash and make me a beggar. Kindly get back my money or shares from Mr. Pushpinder Singh.

Thanking you

Yours Sincerely

(Keshave Kumar)
Keshave Kumar S/o Sh. Luttan Jha
R/o H.No. 151, Adarsh Nagar,
Colony balongi Teh. Kharar Distt. Mohali.
Office Address: Shop No. 19, Hockey Stadium Road,
Attawa, Sector 42, Chandigarh, Punjab
Dear Sir,
here i am sending my resume for your kind consideration. If I will got an apportunity to work with you,
then I will be very thankfull for you, As well as I will got a chance to prove my self with your organisation.
here is my resume...


Corresponding Address
Vill- Ushka
Post- Shihaoeriya
Mob.- +91-[protected],
AMIT KUMAR PANDEY e-mail-<[protected]>
Career Objective :-
 Commitment to perform better quality work.
 To work with full dedication and determination & enthusiasm to obtain organization goal for development of organization

Educational Qualification:-
 High School Passed with Ist Div. from U.P .Board Allahabad in year 1997.
 Intermediate Passed with IInd Div. from U.P .Board Allahabad in year 1999 .
 B.Sc. Passed with IInd Div. from Purvanchal University in year 2003.
Technical Qualification:-
 Completed Course of C.I.C. (Computer Information Course) from IGNOU in year 2003.
 Tally 7.2 (Certificate in Financial Accountings) (CFA).

 Worked as a Account Manager for six month in a Reputated Company.
 Worked as Surveyor for six month in Mass Group Pvt. Ltd., Gandhidham, Gujarat.
 Worked as Sales Representative (S.R.) in Jalaram Masala, Gorakhpur.
 Worked in luminous; Gorakhpur
 Working in HUGHES communication; ludhiana(panjab)

Personal Details :-
Father’s Name : Shri Vashihth Pandey
Date of Birth : 5th Nov. 1982
Sex : Male
Marital Status : Unmarried
Nationality : Indian
Language Known : Hindi & English

Area of Interest :-
 Reading books, Travelling & Listening Music.
Strength :-
 Positive Attitude.
 Integrity & Honesty.

Date :

Place : (Amit Kumar Pandey)

Share Brokers — stock market

dear sir, i have my buisness for share market traders & investment for your co. intrest for share & commodities i d plz i have forword

Shriram insight is seriously a 3rd class company i have seen across...same thing happened with me and that customer services are sleeping and doing nothing...Shariman insight is a big fraud company...may this company shut down that what i wish from god and make the owner of the company a begger on the road as that guy has swallowed my 35k which is a hard earn money and no one is concerned about day definetly my god gonna take 35 k crores from this company and will make this company a begger company...they are doing nothing they are just playing with shriram reputation.
Trade only online from Own Laptop /computer... do not place order to any sub broker . for Good profit only trade on del. basis .. stop intra day ...
do not use margin money of brokers... stay longterm with market... !!!

India InfoLine — cheating and fraud with my accounts

I made a huge long term investment with India infoline and my accounts were opened in 2006. I have been receiving holding statement which shows the stocks i owned. Unfortunately my father and son went in to cronical disease both were suffering from life and death.It took my three years to recover them.
Till then i did not trade and now when i have been asking them on my account they aren't saying anything.I have been sending mails on their customer grievance for my stocks , they just revert by saying we apologize for delay , our officer would revert you.I am yet to find my stocks. my investment with these three a/cs(34BHARTI,06MOHANL,02RENUKA) WAS MORE THAN 40 LAKHS.They don't even follow KYC norms , their RM's are fraud . Would urge to settle my account.

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment

    Contact Information


    Complaint categoryCategory: Stock Market
    Add Company Information