[Resolved]  Standard Chartered Capital Markets Ltd. — misappropriation of funds

Address:

North 24 Parganas, West Bengal

DEAR SIR,
THIS IS TO INFORMYOU THAT I OPENED A DEMAT A/C IN THE NAME OF MY WIFE (RAJANI SHARMA), CLIENT CODE- 07S383, WITH STANDARD CHARTERED CAPITAL MARKETS LTD.(STCI CAPITAL MARKETS ), KOLKATA (REPRESENTATIVE'S NAME : MR.RAJESH RAM) IN THE THE MONTH OF DECEMBER, 2009. AND TRANSACTION STARTED IN THE MONTH OF JANUARY, 2010, WITHOUT ANY INTIMATION TO ME. I PAID IN TOTAL RS.85000/- BY CHEQUES TO MR. RAJESH RAM (THE REPRESENTATIVE OF STCI CAPITAL MARKETS). AFTER PAYING MONEY, I WAS REGULARLY ASKING MR. RAJESH RAM TO INFORM THE STATUS OF MY ACCOUNT. THEN HE SENT SOME CONTRACT NOTES ON MY EMAIL, WHICH WAS NOT CLEAR TO ME. I AGAIN ASKED HIM TO GIVE THE LEDGER BUT HE DID NOT GIVE ME ANY LEDGER AND WAS AVOIDING BY SAYING THAT PLEASE WAIT FOR SOME TIME, I WILL GIVE YOU GOOD PROFIT. AFTER THAT MR. RAJESH RAM STARTED AVOIDING MY CALLS.


PRAMOD SHARMA - +[protected], KOLKATA.


IN THE MONTH OF JUNE, 2010 WHEN I AGAIN CONTACTED HIM WITH SOME OTHER PHONE NUMBER THEN MR RAJESH RAM PICKED UP THE PHONE AND SAID THAT HE IS NOT LOOKING AFTER MY ACCOUNT ANY MORE. AND SAID SOME MR. SAMBUDHHA MONDAL (NEW AGENT ) IS LOOKING AFTER MY ACCOUNT. THEN I SAID TO HIM THAT I PAID MONEY TO YOU AND REGULARLY CONTACTING YOU AND NOW AFTER SIX MONTHS YOU ARE SAYING THIS. THEN HE SAID THAT MR. SAMBUDDHA MONDAL HAS MADE A HUGE LOSS IN MY ACCOUNT. I WAS ASTONISHED.

I IMMEDIATELY CONTACTED MR SAMBUDDAH MONDAL THEN HE SAID THAT ALL THE LOSS
INCURRED WAS BY MR. RAJESH RAM AND AT THE MOMENT MY ACCOUNT IS LYING IN VERY POOR CONDITION AND NO TRADING IS GOING ON.

I THEN CONTACTED THE BRANCH MANAGER (MR. BISWAJIT PRAMANIK) AND NARRATED HIM THE WHOLE INCIDENCE. THEN THE FIRST TIME HE PRINTED MY LEDGER ACCOUNT ON[protected] AND GIVEN TO ME. OUT OF 85000/- THE BALANCE WAS ONLY SHOWING M/L RS.13000/- IN THE FORM OF FEW SHARES OF TECH MAHINDRA.

THE BRANCH MANAGER SAW THE ACCOUNT AND CONFESSED THAT SIR YOUR LOSS IS NOT DUE TO BAD MARKET CONDITION BUT IT IS BAD MONITORING BY US. I THEN TOLD HIM TO REFUND MY MONEY. THEN THE BRANCH MANAGER TOLD ME THAT SIR, PLEASE GIVE ME THREE MONTHS TIME I.E., UPTO OCTOBER, 2010 AND I WILL RECOVER YOUR LOSS.

AFTER THIS I GAVE THE BRANCH MANAGER AN EMAIL MENTIONING THE MINUTES OF OUR MEETING HELD ON[protected], BUT HE DID NOT REPLY ME.

AFTER THREE MONTHS, I AGAIN VISITED THE OFFICE OF THE BRANCH MANAGER IN THE FIRST WEEK OF NOVEMBER, 2010, AND ASKED FOR STATUS OF MY ACCOUNT BUT NO IMPROVEMENT WAS THERE AND HE SAID THAT I HAVE HANDED OVER YOUR ACCOUNT TO MY PERSON MR. SAMBUDDHA MONDAL. THEN AGAIN THE BRANCH MANAGER ASKED FOR FURTHER 3 MONTHS TO RECOVER MY LOSS AND TOLD THAT NOW FROM NOVEMBER, 2010 THE MARKET WILL BE ON BOOM SO UPTO DECEMBER,2010, YOUR LOSS WILL BE RECOVERED.

I AGAIN IN THE MONTH OF DECEMBER, 2010 GAVE HIM AN EMAIL AND REMINDED HIM HIS CONFESSION. BUT DECEMBER, 2010 IS AGAIN ENDED AND HE DID NOT REPLY MY EMAIL.

ONLY TWO SCRIPTS (MAN INDUSTRIES AND SONATA SOFTWARE) IS PURCHASED AND SOLD AT EVERY 2-3 ALTERNATE DAYS. THIS IS THE WAY STCI CAPITAL MARKETS IS MAKING TRADING IN MY ACCOUNT.

IT SEEMS THAT THEY ARE ONLY MAKING TRANSACTIONS FOR EARNING THEIR BROKERAGE ONLY AND FULFILLING THEIR TARGETS AND NOT BOTHER FOR MY PROFIT OR LOSS.

NOW I SHALL REQUEST TO RESOLVE MY PROBLEM AND ARRANGE TO REFUND MY MONEY BACK RS. 85000/- FROM STANDARD CHARTERED CAPITAL MARKETS LTD. AS I AM SERVICEMAN IN A PRIVATE COMPANY AND THE MONEY WAS THE ONLY SAVINGS WE HAD.