FairWealth Securities [FWPL] Complaints & Reviews

Dear Sir,

I had a demat with FWPL with DP - [protected] in my name Anshu Mittal.

Kindly confirm current broking with DP [protected]

Myself, Roashan Amanulla Meman, having dp id with FairWealth Securities my dp id is [protected], i am holding share of suzlon Energy limited, kindly provide status of my share...

At the time of sebi action against Fairwealth Securities I have some stocks at above mentioned stock trading company's common pool. I have yet to receive these stocks or any compensation against those stocks.

Name - Ashok Kumar kundu
Registered email address - [protected]@gmail.com
PAN Card no afjpk 3333e
Phone number [protected]
Your early action is highly solicited.

I had a trading account with Fairwealth. After investing with them for some month I was unable to access it. I had my complaints turn down by them. I took actions myself and traderstechr ecovery. com help me with my recovery

I had an account with Fairwealth before it was banned by SEBI the detials of which are
Branch ID-FF Client Code -FF144 Client Name -BHAVANI TRIVIKRAM SHAHI

attached are the details of my holding.

i had purchased IDFC infra bonds through that account. i need to transfer those to my other account. how do i do that since fairwealth isn't operational anymore??

We have holding trading account at dalal street branch, mumbai. We trying to reach, but no response from them. We want know status of branch and as our trading is activate. Request assist us.

Dear Sir,

I had a treading account with Fairwealth Securities Ltd. and it was operated by Fairwealth. Recently I came to know that Fairwealth is closed and after that I have sent a query to CSDL regarding my holdings but they replied no holding found for my DP id and client id.

I have all the documents provided by Fairwealth, kindly look into this mater.

DP ID: 12049100 Client ID: 00435658

Address of Fairwealth office: School Road Bichalihata Connector, Bangaon, North 24 Parganas, West Bengal- 743235

Thanks,
Jiban Krishna Biswas (M: [protected], Email: [protected]@gmail.com)

Sir, fairwealth has bought securities from my fund in client code AHAR41 but not delivered in my DMAT..pls provide me financial ledger and way to get this resolved.

Dear Sir,
We have Lost my Demate Account Pls Provide me My demate account id And Passward Shortly

I had an account with faiewealth, which i was not operating i want to start my old account again.it is in the name of : Prithvi Pal Singh
Adds : 824, Arjun Nagar Kotla, New Delhi 110003

I have a trading account no. Dlffd380 in fairwealth securities ltd., bhikaji cama place new delhi branch and rs.13961 is balance in this account.
Since fairwealth securities is banned by sebi and their office is closed i could not get my balance amount rs.13961 with them. I want to transfer this amount to my s. B. Account in vijaya bank. Copy of cancelled cheque was already submitted to this office.
Please let me know how can received my money from fairwealth securities ltd.

I was getting messages to pay 500/- since last may when i asked the fairwealth securities customer care they said they will look into the matter and they will send an excutive so that i can pay and start trading.

Again after one month i was getting the same messages to pay 502/-, when i have emailed to the fairwealth complaince then i got a call from abhishek, sr. Executive[protected] asking for my pan number to check the details when i have sent the number he said i have to pay the amount to close my account with them and i told him that i have not paid the amount for opening my account and how come i have to pay the amount to close this and now it is 506/-.

When i was asking him this question he said if you do not trade in one year after opening the account the charges will be levied i too know that my question was who paid the amount to open my account and for this they have no answer and still i am getting messages that i have to pay the amount of rupees 506/-.

I had opened a share trading account with fairwealth and invested almost 1 lacs. Initially they give me regular updates but later on, all this trading was done without the consent and now no one updates regarding the buying and selling. Now one responds or giving any clarification on anything. The people have made a total loss. Pl. Don't trust these people. They made a number of followups to open the account with them. But later on they even didn't bother to inform and they are leas bothered about your money.

Hello Team,
This Tapash Kumar from Bangalore [protected] . We applied for 3, 00000 rupees loan from above company by paying 5500. They informed us that they have deposited into our HSBC account.
Now that amount can be transferred to our own account but while we are transferring that amount from there HSBC account to our account it's asking for codes in several stages. And at every stage to give code they are 27000 to 30000.we sold our mobile and we paid that amount. But now at the end of transaction. It's asking for one more code . To get that code they are asking us to may 30000. Which we can't pay. So we asked for refund of our 53000 thousand which we paid. But they are not picking our call neither they are replying for our mail.

Hence I request you to help us to get refund of our amount.
Has my mom is not keeping well I need to take her to hospital.

Thanks Regards
Tapas Kumar
[protected]
Munnekulla
Bangalore
560037

Hi, i have been getting messages for payment due everyday from the companies system, must be they have updated wrong number in their system. I am getting too much harassed due to it. Also resulted in fight at home as my parents think that i have opened account and is not paying due. I had already sent many mails to the companies concerned departments, infact doing same from last two months but they are not taking any action. Everytime i am getting the reply that we will update it but no actual result.

I request you to please intervene and resolve.

My name is Mrs.Mandakini Bhaskar Khamkar, DP Clint ID no.0049183, in above company i open account dated 10/04/2014 with company person Mr.DeepakBhanudas Jagtap company employee, i belive Mr. Deepak Jagtap and i transfer all my shares to fairwealth securities then after few months i check my account and i found that no shares, transaction in my account after that i contact Mr. Deepak Jagtap and i ask about my shares they told me that all shares with me then i take decision i told him that pl sale out my all shares and give money so they give post dated cheque dated7/06/2015 Rs. 50, 000/- cheque no020846 but now cheque come back (bounce) reason insufficient fund he cheat against me now i contact Mr. Deepak Jagtap bout phone ([protected]) comes off now what i should do now i already need money but without money i cant do anywork. Now i request you pl do the matter needfully. i already lose Cheque return charges Rs. 200 and harrasment charges Rs. 2000. I Lose profit Rs. 50000/- Total Rs.100000/- I request you please help me, i mentioned herewith worli mumbai back office code- MHMUCS11, BRANCH CODE - MUCS.

I have opened two accounts with fairwealth. I wanted trading login and pwd, I am following with them for more than 3 months but no proper response. They asked me to give separate forms for 2 accountsm which I have done although all the information is available with them. My account codes are MHMUC49 and MHMUC73

the employee of your bhikaji branch "ramesh rana" or whatever the name is with last name " rana" does not know how to behave on the phone, when is asked him to tell me the procedure of closing the account he replied : hum account band nahi kartey, ek account se 100 naye account kholtey hain", i think this behaviour is unwarranted and his egoistic and unprofessional behaviour leaves me with no choice but to complaint into various forums and organisations for consumer grievences, this is perhaps the worst service i have ever gotten in my lifetime and i dont want to continue to risk my money with such unethical and unprofessional and egoistic employees of the organisation.
Never open account in fairwealth,

harsh gupta

The fraudulent trading that happened in my account

I have not purchased any share/stock after march 2013 under trading no dlzs387 having pan no ccbpk9556j fav saniya kashkari after march 2013 i have only sold gmr infra last on 24 dec 2013 300 share @24.40 .After that date some trading was done on my trading a/c earilier bu nothing has being done . Now i came to know that they have sold suzlon energy 200 shares @10.08 as per sms dated 3rd march 2014 . You are requested to look into the matter of all tradings done after the sell of last lot of gmr infra on 24th dec 2013 .Treat the matter most urgent ( plz check all the entries where from the money has transfered / credited )

Saniya kashkari

Trading no dlzs 387 sarita vihar new delhi

Dear Mr. Shukla,
As discussed with you (Branch Manager; Mobile No. [protected]) over telephone on 05th Nov, 12 (1739hr) for the fraudulent trading that happened in my account i.e. without my consent and on your humble request to withdraw the complaint posted on 02.11.12 and 05.11.12.

I am willing to withdraw the complaint on your request, subject to the followings fulfillments form your end and without any delay;

1. Letter of apology for trading without consent form the company.
2. Losses incurred in the account on the basis of trading values (Approx 2.0L). (Loss in F/O, Equities, Commission earned and loss of the time that myself has to spent unnecessary i.e. without any mistake on such a fraudulent trading)

Further I would like to put forward my advice to sensitize the employee(s) of your company who all are responsible for such a happening. Such breaches of trading rights of the clients can lead to really dreadful effect on the business/employees of branch, the company and further can lead to legal action. I am yet to receive any written response from your company w.r.t. this issue; Delayed / No response is not acceptable at this level and that too from a branch head.

Gentle Request: If the matter of fraudulent trading could not be resolved by the branch head then I request you Mr. Gaba Ji to please leap into the matter without any delay and provide decree. The matter of foul trading in my account i.e. without my consent is torturing me up day and nights.

Regards-Tarun


FRADULENT TRADING (TRADE DONE WITHOUT CONSENT): STRICTLY AVOID FAIRWEALTH SECURITIES

Broking House: Fairwealth Securities, Nehru Place Branch

Concerned Personnel: Mr. KP Shukla (Branch Manager- Fairwealth Securities)
Mr. Achal (Manager-RMS)
Mr. Avdesh Rajput (Trade Operator)

With the retrospective scrutiny of my records w.r.t. the month of August, September and October 2012, I raised the alarm for the fraudulent trading done into my account i.e. TRADING DONE WITHOUT CONSENT by team fairwealth leading to loss of 2.00 lakhs (Approx.).

I scrutinized my trading statements from August, 12 till Date: i.e. 24.10.12 and found some major and critical irregularity and violation of trading norms of consumer.

After a trading gap of almost 6 months and on request and assurance of healthy trading by Fairwealth Securities myself restarted the trading with your portal after closing down my trading with Reliance securities and HDFC securities.

The following critical trading irregularities were recorded w.r.t. the accounts:

1. Trade without consent and knowledge.
2. Providing false information to client and hiding the facts.
3. Cheating the customer for earning high brokerages.
4. Asking client to hide the facts.
5. Asking client to wait so that the concerned personnel will add up the amount in account to cover up incurred losses w.r.t. fraudulent trading.

Points Raised and needs to be addressed!

1. Who provided the limit to trade operator for trading? And with whose consent the same was done?

2. Who all are to be held responsible for giving liberty of going ahead with the trade to the trading operator when client consent was not available?

3. When a periodic review of trade of client’s was done why such erroneous trading was not cited by the Branch Manager?

4. Such fraud was done because of operator’s intention of earning higher commission on trading or any team is trying to mislead the higher management and hiding the real facts?

5. Can we put forth the trading sheet and the trading pattern along with the non-consented trading records to third party scrutiny for frauds at the branch?
6. It is ironical / stupendously stupid to view that all the trade that does happen was in debit throughout i.e. Sep-Mid and Oct, only INR 10000 was transferred in the account of Mr. Achal on 12th September, 12 for accounting into DLNNT54?

7. It is highly appreciated and hard to digest that an employee / trade operator of the company smartly deceived so many personnel’s at par and continuously did trading without any fear of any of the Fairwealth Securities personnel’s.

8. For such a fraudulent trading only the operator could not be held responsible, Indeed I am very well sure that the same must be happening with many of your client’s !

It is very clear and evident that the trading was solely done to generate max commission / Brokerage using my money, the trades were continuously executed intentionally and that too such an amount which is way beyond the financial limits of clients and justification!

Further, when myself had a meeting with the site personnel’s, the following points aroused from the meeting and need’s urgent reply and quick action.

1. The trade operator has agreed for the fraudulent trading into the mentioned account in presence of all the concerned personnel’s including the Branch Head, Manager-RMS, of Fairwealth Securities i.e. without consent/knowledge of the account holder.

2. It is to be look forwarded how the trade happened in the account when there was no amount (Clearly Evident From Records) i.e. even than that of 30% of buyer amount was not available; as earlier I always used to receive a call from Mr. Achal (Manager-RMS) for any debit amounts. Is this the fault of trade operator / Manager-RMS / Branch Head and needs urgent attention.

ACTION POINTS

Since trade operator is an employee of Fairwealth Securities; So Fairwealth Securities has to take a call on urgent and necessitated basis for the loss incurred due to fraudulent trading that tended to happen without the consent. However the branch manager is saying it be a personal matter between trade operator and client!
As stated by branch manager the matter is personal between myself and the trading operator but kindly be noted that such statements from your side were like digging pit for yourself. Any complaint that’s tends be lodged will be directly against the branch head as he was supposed to stop the trading even before the client has risen and alarm. If I was supposed to deal with him directly then why the position of branch head is required.
The trade operator has agreed for bearing the loss in front of the fairwealth securities team; however as a reputed and expanding securities company fairwealth securities cannot put the ball in his pocket. The same should be confirmed to me by any of your authorized personnel’s and as documented evidence. The trading loss must be evaluated against the losses incurred from trading, the loss of equity that was intended for long term, brokerage and the sleepless nights of the client.
Hilarious Statements: As per discussion all the trades were mailed to be on the ID which was not linked to myself and my mail ID was updated in your records as Dr.[protected]@gmail.com; effective 3rd Nov, 12 and in presence of Manager-RMS / Branch Head. This again sounds entertaining and fraudulent again as to which Email ID’s the team was dealing with?? Since Mr. Achal (Manager-RMS) was in touch with the ID’s since 2009 (Communication attached for your ready reference of year 2009 with Mr. Achal (Manager-RMS)
It is obligatory and inescapable to mention out here that my account is with the FAIRWEALTH SECURITIES and I am linked to a company not to any one particular employee. Any decision in the regards should come up by the company not by any employee and in promptly justifiable manner and all the culprits should be brought to justice.

Now Mr. Shukla (Branch Head) is requesting me to withdrawn the complaint and stating that they will keep the employee in job despite of his malfunctioning with them till he provides the compensation amount to the client and later on they will terminate him. Myself was surprised to listen such statements of a Branch Manager against his own employee. All these statements and delay in response clearly indicates fraud in the trading happening at that particular site. I request you all too kindly investigate the accounts of all the clients for the fraud trade practice that may be happening at this site.

Mr. Shukla wants me to withdraw the complaint and then he is ready paying back me the losses incurred i.e. Trading Loss + Commission earned + Loss of my job days.