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[Resolved]  SMC Global Securities Limited — Why SMC blaming me for their fault and Guilty ?

Dear Sir,

1. I am Anoop Singh who had a franchisee with SMC Global Securities Ltd named "Shri Sai Investments Company Ltd." whose trading Id was MOD0171 in SMC's Model Town Branch under the assistance of Mr. Sanjeev Kumar (RM) and Mr. Jaswant Singh (Branch Manger). I ran that franchisee for almost two years and now in last October I closed it because my partnership desolved.

2. I gave them Rs.2 Lakh as a Security amount to SMC for Franchisee to start and they assured me that this amount is like a fixed deposit in which no trading would be allowed. So SMC opened an Demat and trading account in the name of my Company i.e Shri Sai Investments and its trading id was MOD0171 which was not under my assistance. And finally when I closed my franchisee this amount was clearly refunded to me in October'10 by SMC.

3. But last week only a client of SMC of same branch and another franchisee owner named Mr. Satwan Goel (Alliance Investments) came at my place and asked for his 400 - NTPC shares from me which was transfered to my DP of above mentioned Account on 3rd December 2008, and has been soled in same trading account settelment date for same trade was 18th Dec'08. For all this he was carrying the documents copy of his DP Slip and statement which shows that it is true.

4. When I asked and confirmed same thing to SMC officials in same branch because I was not aware about that at all. And when i asked for my account statement and when i saw it - i was shocked that there was enough trading done in my account without my permission and putted losses in there and to hide it i think this was done by some one who is common between both the franchisees not me what I think actually.

6. Even SMC had asked that client (Mr. Satwan Singh) to take any legal action to collect his money from me - I would like to know why did SMC asked to do it to him.

7. 1st of all, I haven`t done that and even What ever the losses made in my account - I didn't asked any one to do trade in my company account and to use my security amount.

8. 2nd if this has been done - I didn`t asked any one tooo to transfer shares in my account and even to sell them in my account...

9 I would like to ask SMC officials and to request them to provide me recordings and confirmation for all the trade done in my account - I would like to know desperatly that who did it and who is guilty because I am not responsible for anyone`s shares ofr money who did will pay......

Please someone help me and tell me what to do.......

Anoop Singh
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  2 CommentsShareTweet


Dear Sir,

I have read your complaint on consumer forum, I would like to tell you that this people are fraud and is doing such fraudualnt activities just not only with you but to many other people and also with those who are or who was employeed with them. I was employeed with them for more then 5 years as a regional manager and they took away shares of rs. 60 lakhs from my account and sold it after the market as closed.. i went to NSE and BSE but they are giving me the same answer as they gave to you.
i have also filed a law suit against them in Delhi High court and court has refrained them from further dealing in my shares.. as they have just sold 40 lakhs till date and rest of the shares are still lying the smc account.. over and bove they have debited by account with amount of 57 lakhs... without any kind of obligation or such so called debt..

it was only that, i was about to retire and was quitting from the job and they did not wanted to let me go out the company... I have also talked with the director of the company and he says that we cannot do so now.

For your complaint i shall advice you to go to NSE office near you and give a shouting fight to the emplyees.. this will help... Nse was not ready to take my case, as SMC had bribed them.. but when i took my frnds n family and literally shouted at them.. they did something.. and there is also a customer arbitration cell in NSE which provides money to you for fighting a case against the company... and if there coes more then 100 complaints towards the compnay they will shut down the operations of the company...

This people are fraud.. I am going to create an anti blog for this shortly.. hope u shall join...

I came across this article accidently. I was trying to do research upon SMC Securities. Couple of weeks ago, I got emails from SMC Securities to take their franchisee, as i got space on prime location in the city. I was not sure to do so, but representatives came to me and explained me their policies and all. I am in confusion now what should i do? Should i go ahead with them or not. Is there any better franchisee in the market in the same field. I hope readers will help me out.

Thank you.



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