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[Resolved]  Stock Trading — COMPLAINT AGAINST ILLEGAL TRADE

M/s MSB Securities Pvt. Ltd.
2nd Floor, Sector- 18,
Gautam Budh Nagar,
Noida- 201301

Sub: COMPLAINT AGINST ILLEGAL TRADE

Sir,

This is Jatinder Marwah trading Id UN 511 in your company and my
relationship manager is Mr. Abhisek Singh .As per the last telcon with
Mr. S. Jha on 20.7.2009, @ 8.00 PM i am here by forwarding the entire situation/ complaint in writing against my RM as he forced me to do this transaction and even he had himself created the positions too in my account, even after the repeated refusal to make the certain
transactions.

As currently Mr. Ahisek forcibly created the position for 1000 put of
4200 with his entire wish and discretion ie. Order No.Order Time
[protected] / 10:24:07 Trade No.33407724 Contract Specification OPTIDXNIFTY30JUL[protected].00 - PE Buy 1000 Price 75.30 I had no where ordered for the same he only informed me after creating the position, even after the dip for some points, when i shouted on him for the said position and he forced me to give a bidding for the new position of put on the same parameters to make average the details as follows. Order No. Order Time [protected] / 13:37:57 Trade No.33769541 Contract Specification OPTIDXNIFTY30JUL[protected].00 – PE Buy 1000 Price 50.00

At this point of time I told him that doing the average in options is
not at all good. Then again he compelled me and said look i am not
looking forward to make brokerage it is just to make the average. And
said that i am sure market will correct from her. The entire position
will be cleared and created the same in debit, i want the concerned
authorities to check the recorded line to view weather i had ever
showed any interest in creating the position / trade in options on this particular contact number[protected]. The
Concerned team will automatically got to know after checking that i
always refused to make the positions in these transactions.

You can also check with your dealer Mr. Raman that even when i was in
profit on 16.7.2009 even then i was telling him that i am not interest
to make any position. i am off and don’t want to work in call and put
again. but no Mr. abhisek again and again called me and forced me to
trade even when at the time when i was driving he was not listening to
me and making me bound again and again. Even when I said that if I
will be penalized you will be responsible he said I earned that much
in your account from which you can pay the fine for mobile usage while
driving. I want the team to hear the recordings; the entire picture
would be cleared to them simultaneously and Mr. Raman will also clear
the same to the concerned team.

He disturbed me a lot on the said day even as if i was having my exam
@ 3.00 pm; even after the repeated refusals he did the trade.

Now here i will let you know the past things also, where he
continuously bounded me to bear the loss by his acts and even every
time he apologies and there after did the same. Few days ago he
created the position in Call for 4800 and lead me loss for 7000/- Rs.
some how i beared the same, prior to this approximately 40 - 45 days
back he did intra day trading in my account even without my knowledge
and concern, he him self carried the same in delivery and later on
after 2-5 days holding it got sold out, till date i had not given that
confirmation for the same, you can check the status with Raman as well as with the recordings where I said take the confirmation from whom you have taken the order, just to give him the lesson.

Now this time he had crossed all the limits and make this huge open
position in my account and intimating me that i am going out of
station for 7 days and take care of your holding and suggested me to
close the call for you D.P. holding to maintain the account debit
position cleared, where again i have to loss Rs.20000/-. As i had
already told him that i don’t have money to invest now, my saving are
all engaged with you.

Now he has crossed all the limits and here i want that the necessary
action should be taken against him and entire loss should be bared by
him not by me. Else i have to forward this matter to SEBI as well as
to court of law for justice as he only played with my hard saved
money.

Now as per the telecom i am giving you time till Wednesday morning
afterwards your company and Mr. Abhisek will be whole some responsible for the same.

AS ONLY MR. ABHISEK IS RESPONSIBLE. I WANT MY MONEY BACK.

Note: Not only this as your company has some attendance rule, he
usually gives my details in the list to make him saved from the
deductions, and told me to give the confirmations for the said. He
came to meet me only twice till date, once when he opened my account
secondly once at 6.30 pm in the evening to collect the cheque for
Rs.50000/- that’s all, Now by this you can see how much he can cheat.

Waiting for your immediate reply.
--
Thanks with regards.

Jatinder Marwah
M [protected]

C.C. to Head Quarter, Proactive universal Group, 7, Barakhamba Road New Delhi-110001
Tel: +[protected]
Contact Person: Mr. Ameet Ganguly

C.C. to Head Quarter
Proactive universal Group
7, Barakhamba Road
New Delhi-110001
Tel: +[protected]
Contact Person: Mr. Ameet Ganguly

C.C. to Corporate Office Mumbai
2/ Arcadia, Plot No. 195, Nariman Point,
Mumbai 400021, India
Tel: +[protected], 2202 4152,
Contact Person: Mr. Paresh Parekh

C.C. to Corporate Office New Delhi
803-804 Arunachal Building
19, Barakhamba Road
New Delhi-110001
Tel: +[protected]/72/73
Fax: +[protected]
Contact Person: Mr. Piyush Pandey

C.C. to 914-915, Arunachal Building
19, Barakhamba Road
New Delhi-110001
Tel: +[protected]
Fax: +[protected]
Contact Person: Mr. V. Gopalan

C.C. to Corporate Office Bangalore
906, Prestige Meridien-1
9th Floor, 29 MG Road,
Bangalore- 560001
Tel: +[protected]
Contact Number: Mr. Manoj Chawla

C.C. to Corporate Office Chennai
Level 1, The Gitanjali Convention Centre,
Bearing No. 32, Venkatesan Street, T. Nagar
Chennai- 600017
Tel: +91-44-[protected]
Contact Number: Mr. N. V. Ranganathan


C.C. to The Regional Manager, 5th Floor, Bank of Baroda Building, 16, Sansad Marg, New Delhi - 110 001

C.C. to Plot No.C4-A, 'G' Block, Bandra Kurla Complex, Bandra(East), Mumbai 400051

C.C. to Consumer Court, New Delhi
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  1 CommentShareTweet

Comments

The problem with us, the investors is too much of trust to the stock brokers. Never do that. They earn through brokerages from the trades in your account. Many of them are manipulative, fraudulent. Thus, never ever leave your trading account related problems to the mercy of your stock broker. Always, immediately drop a strongly worded email to the customer service or customer grievance of your Stock Broker and immediately write to NSE ([protected]@nse.co.in) or SEBI ([protected]@sebi.gv.in) without any delay. If you do not act within hours, then rest be assured, your money is gone. Indian laws have many many loopholes and the stock brokers exploit the loopholes in the system to put you on the back foot. You won't be able to know and you wake up some day to find your money is gone. Please be rest assured, these Stock Brokers in India and their illegal actions are strongly backed by the quasi judicial bodies in NSE and SEBI. So, do everything possible to protect you and your hard earned money from the commission sucking stock brokers.

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