[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

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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments 


I have submitted my closer account form to Indiainfoline parel branch, 15 days back, the Employee name is Manoj, and he said he will do the needfull and close the account, I have sold the balance stock what was remaining, as the employee of indiainfoline had sold my shares without informing me, they are real cheaters, and these employees are found they have done this mistake, those people are been removed from the firm, and later the company employees tell that person is no more with us, so we could not do any thing, with your account, so you need to pay the dues, Like this people at dombivli branch have cheated so many satisfied customers like this, and at the end people had to bare the loss and sit at home.

Today i had an online chat with customer help desk, he told me he has received the closer form today, which is been sent through their own firms employee 15 days back, and they say today its been received, which will take 15 days more to refund the money

If any body trading with indiainfoline firm please be very careful with you shares, or you will also be in the same position were many of the innocent people have faced a huge loss from this company,

Girish Patel (dombivli east)
saale bahut hi haramkhor hote hai
sri ram insight walew to bahut hi madharchod haai
maine bhi sriram insight wale ke yaha demat account kholne ke liye cheque diya 8 july 2010 ko but aaj tak till date 29/09/2010 abhi tak mere paas user id password nahi aaya hai aur baat karne par saalon ne teen laundiyan bitha rakha hai main office mein wohi baat karti hai aur saala madharchod, manager ki maan ke bhonsare mein puri ki puri top daal kar gole daagun saala baat hi nahi karta, agar manager tumhari maa ne tumhe doodh pilaya hai to aakar saamne baat karo tumhari maaa na chod dun to mera bhi naam nahi
saale haramkhor
randi ki aulaad

Anand rathi stock marketing — not receiving any documents

Dear sir,
Iam paying 750.00 Rs for Opening A/C in Anand Rathi Stock Market Demat A/C .but there in a no
Reply from there.

About Shares — we have to sold shares

we purchse 5000 shares of Vidyut Shaving Product Limited. from private placement. but now i want to sold them.
so what can I do ?
the worst people are in india info line j.p nagar bangalore, they dont even has manners...and no.1 for mis behaviour, that company is ruined by Mr. and Mrs. Gyanesh jain

Shriram Financial Services — Breach of Trust and False Representation

Sub: Request for Loan - Breach of Trust - False representations and promises - Reg.,

We are seeking for a loan amount of Rupees 20,00,000/-, in this mean while agents / representatives of M/s Shriram Financial Services people approached us and promised to sanction the above amount within a week days and collect all the related documents and cheques for Installments (EMIs). After 2 months their people come and probing for commission against the loan amount. Daily they are harassing to get their commission and they are presenting the argument that the loan amount sanctioned after we pay the commission to them, the commission amount will pay to the sanctioning authority and then we get the confirmation of the loan.

And the major thing is their people daily came to our office and shouting and argue with our staff and us relating the commission and they are probing and disturbing.
And they are probing for blank cheques also.

What can we do, Please suggest and guide me to complaint against the organisation.

Thanking You,

With Regards,
Ramesh YR

i am KHUSHBU KUMARI, my coustmer code is vk303k39, sir my complain for your bhagalpur brach, maine apke bhagalpur branch main apna demat a/c khola, year 2008 main khola hai or sir maine us time mare a/c main 10000/- se start kiya tha, uske bad maine 15000/- or dala tha, waha ke jo maneger hai mr rajeev ranjan the jo ki mare khate ko nil karke chaldiye hai, maine suna hai ki wo duty join kiya hai, meri apse request hai ki us par ye claim kiya jaye ki wo ye paise de .
maire sare a/c se unhone bina puche transaction kiya hai or jab maine statment manga to wo talte the
or maine idhar me jake dekha to waha par koi bat nahi suni ja rahi hai sir.
my email id is [protected]

thank you
Myself Ganesh R. Manapure, Chiplun, Distt. Ratnagiri (M.S.) would like to obtain legal action against fraud sub-broker Mr Nitin Kamlakar, Maniyog investments, Jivanjyoti Complex, 1’st floor, Shivaji Nagar, appointed by Nirmal Bang at city Chiplun, Distt. Ratnagiri regarding to bounced cheque issued by him to me.
Case History :
I had come to knew through my friend about a reputed Nirmal Bang Company, so I had interested to open my trading account with said company. After searching I found above said sub-broker at my city chiplun. I had meet to Mr Nitin Kamlakar on 10.09.2012 and told him about to open my A/c in his Nimal bang company. But Mr Nitin advised me for opening A/c in bma wealth company by introducing more benefits of bma wealth company. I had agreed and believed on his information. Therefore I told him to opened my A/c in bma wealth and submitted my required KYC documents, application with him on 11.09.2012. Mr Nitin assured me that my A/c should be opened with in 10 days. By keeping faith on Mr Nitin, I had given him a cheque of Rs. 40, 000/-(Forty Thousand) of dated 21.09.2012 for crediting it in my trading A/c after opening.

Every thing was going wel up to 20.09.2012. But on 21.09.2012 I was totally shocked by receiving sms from my ICICI bank that Rs. 40, 000/- was debited from my bank A/c and same amount was credited/ cashed withdrawal by Mr Nitin Kamlakar. Immediately I had contact to Mr Nitin Kamalakar and asked him that how he withdraw my said given cheque inplace of crediting it in my trading A/c. and what is the status of my trading A/c opening. He replied cleverly “the bma wealth wrongly done it but don’t worry after opening your trading A/c, I will transfer it to your trading A/c”

By the grace of God, I strike in my mind that something is to be going wrong. Therefore I alertly recorded every phone call done with Mr Nitin from 23.09.2012 by voice call record function of my mobile handset. Then I started to enquire about his authority / status from Bma Wealth Pune (Kolhapur). After consulting with Bma wealth on dated 09.10.2012, I had came to know that they have in receipt of application for broker / franchisee for Chiplun city in the name of Mrs Gauri Nitin Kamlakar which is in process and they does not have any receipt of application for opening trading A/c in the name of Ganesh Manapure yet. By hearing this information I was shocked and came to know the dirty plan of Mr Nitin Kamlakar. Mr Nitin Kamlakar cheated me. It was the beach of trust. Mr Nitin Kamlakar utilized my money for depositing broker security amount which was required for getting the same. I informed about above events to bma persons of pune (Kolhapur) on 10.10.2012. Bma persons consulted with Mr kamalakar and asked him about his cheating done with client. But Mr Kamalakar shamelessly replied to them that, why client gave him a check before opening the trading A/c.

In the view of above, I had meet to Mr Nitin Kamlakar in his office on 12.10.2012 and finally warned him that if he didn’t arrange to returned my money then I would go to police & consumer care for complaint with all proofs. He surrendered with guilty and requested me for forgiving him. On 13.10.2012 he had given me a post dated cheque No. 056682 of Rs. 40, 000/- dated 15.11.2012 of his Axis bank’s A/c.

Now as on 27.11.2012, I have been submitted the cheque for clearance through my ICICI Bank A/c, Chiplun, it is bounced due to insufficient funds on dated 29.11.2012 with return Memo of said Axis Bank.

I hope you will consider my request favorably and advise me for how I take legal action against him.

Kind regards,

Yours faithfully,

(Ganesh R. Manapure),
Chiplun, Distt. Ratnagiri
Mob. No. [protected]
i am vootukuri reddappa reddy Rajmapet Kadapa i close my fraches one year back deposit amount not refund still date

shriram insight or shiram cheat company i dont know i complaib sebi also
Dear Sir
I Nirmal Kumar Srivastava from Lucknow Your treading customer having ID U205N3 sold my Alok Industries share No320 (200 Rs12.65 and [protected]@13.50) on dated 06-june2014, Your contact note shows the brokerage charge is Rs.14.00 and Rs8.40 I dont know that what is the % he charged. In other contact note he is charging 0.5% in normal trading and 0.05% in day trading.What are the charges taken by Shriram insight please inform me at my e-mail [protected] above contract note is wrongly charged please make it correct and issue me new one.
Thanking You
Nirmal Kumar Srivastava
C-1745, Rajaji puram
Utter Pradesh
Clint ID-U205N3

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