IndiaBulls — fraud and cheating of senior citizens by indiabulls

Address:	New Delhi, Delhi
Website:	www.indiabullsventures.com

I am a 81 years old senior citizen who is being victimized and taken undue advantage by india bull ventures.

India bulls agent coerced and wrongly influenced and enticed me into trading my retirement shares with indianoil. Without my knowledge india bulls mislead me to buy 10, 000 shares on a "5" day margin call at an average of $144/share (Using my existing shares in ioc as collateral).in 3 days the market tanked and prices dropped by rs. 12 per share. I was left with no choice but either to remit rs. 14.4 lakhs in 2 days or pay the share price loss of rs. 62, 275.

India bulls charged me another rs. 22, 000 in service charges to buy and sell the 10, 000 ioc shares.in order to avoid any delay charges i promptly made the payment of rs. 84, 275 to india bulls. Despite making timely payment, indiabulls sold off 617 of my retirement shares for about rs. 82, 000.

I did not authorize to square off any our positions without my explicit consent. We timely remitted the money by cheque. The cheque dated 25.10.2018 for rs. 84275/= was provided by due date as per communication received from indiabulls and their relationship manager/branch head despite penalty and undue charges imposed by indiabulls. The cheque was paid under protest with the assurance to receive back undue charges raised in the bill. We still paid rs. 3225 with another cheque to avoid any negative deficit. Our relationship manager tells that he has "punched" the cheque since but the payment has not been credited to our account. As a result each day we are being levied delay payment charges for no fault of ours.

I request that the entire transaction be reversed and revert my share positions by adding 617 ioc shares to my account. Further i explicitly order that indiabulls close my trading account immediately and not square off any more of my retirement shares to compensate for their dilatory tactics to credit my account.

We want our original shares of indian oil numbering 14, 400 should be restored back, maintained securely, safely and "freeze" my account for any future transactions. You are firmly and strongly requested not to trade or touch our shares at any cost with immediate effect especially for indian oil shares numbering 14, 400 shares. This has been personally conveyed to your relation manager mr. Ranjay kumar singh time and again and his manager mr. Sreekant nandalmajan.

Indiabulls has not heeded to our pleas and even the letter sent to grievance department on nov. 29th been acted upon. Failure to respond to this complaint will make indiabulls liable for damages and criminal charges. A copy of this complaint letter will be sent to central bureau of investigations https://www.consumercomplaints.in/blue-dart-express-wrong-pin-code-c1879409(CBI), sebi, delhi police commissioner's office, income tax fraud department and major news networks if you do not take any concrete remedial action in reverting our positions and restoring our account balance to the original number of 14, 400 ioc shares.

Please contact me on my landline number and email as well.
Client id: 578495