| Address: Kolkata, West Bengal, 700051 |
| Website: monetarysolution.in |
On[protected] Mr Abhisekh Verma from Monetary Solution, Indore rang-up the undersigned and tried to convince me to trade in stock market. I told him that I have tried many Share Advisory Companies and incurred huge loss in trading on their given calls. I told him that now I have stopped trading in the share market. I lost huge amount and do not have much fund. He advised me that I can trade in share options on intra-day basis. He will personally ensure that calls are given to me on time with stop loss and target strictly on intra day basis. I told that I am not interested and told him that all the representatives of Share Advisory, I have tried, say the same things, but in practice after subscribing to their calls, they do not care causing loss. After some time he again rang up to say that my Senior Mr Raj Kumar want to speak to me in this connection. Mr Raj Kumar told me that he will ensure that there is no loss to me and he will personally monitor the timely advice in option trade on intra-day basis. He told me that I should watch his calls next day as trial. On[protected] Mr Abhishekh Verma informed me over phone that I should watch call option of Tata Steel 710 CE @ 10.80 WITH sl 9.10 AND tARGET OF 14.5. At around 1300 hrs he informed that call option of Tata Steel is not giving desired result and I should come out from the call @ 11.50. I watched the above call. On[protected] Mr Raj Kumar rang up in the morning and insisted that I should get myself registered with Monetary Solution by depositing Rs. 2500/- with ICICI BANK, INDORE BR A/c No.[protected] IFSC Code ICIC0001859 being subscription of one month for giving call in future option. He assured me that he will personally ensure that there is no loss in the trade. I accordingly deposited the amount in the above account on[protected]. Mr Raj Kumar rang up to know whether the amount of Rs.2500/- has been deposited or not. He told me to send the receipt on their Whatsapp. I accordingly send the same to him on the whatsapp number given by him. On getting confirmation about receipt of money Mr Raj Kumar advised me to buy call option of JET AIRWAYS 820CE @ 16.00. Accordingly I purchased one lot of call option of JET AIRWAYS. I told him to tell SL & Target but he told me to wait and he will tell target very soon. When again I contacted him, he told that the call of JET AIRWAYS has come down but tomorrow he will get the desired target and he insisted to average by adding one more lot of JET AIRWAYS 820 CE at 12.55. Accordingly I purchased another lot. On[protected] I tried to contact Mr Raj Kumar but could not as he was not in office Mr Abhishekh Verma told me to wait and he will intimate me when to make exit from the call. At the end of the day Mr Abhishekh Verma when contacted told to wait for tomorrow and I will make exit in profit. He told me that JET AIRWAYS stock has gone in ban period and tomorrow surely in profit I can make exit.[protected] was settlement day of December, 2017 series and when contacted repeatedly Mr Abhisekh Verma told that Mr Raj Kumar is not in office. He rang-up after sometime that I should make exit from call option @ 4.90. Accordingly I had to book loss in these two lots of JET AIRWAYS 820 CE. Loss was of approximately Rs. 22, 500/-.
On[protected] No call was given. On[protected] Mr Abhisekh Verma rang up me and advised to purchase one lot of call option of SUN TV (1000) @ 33.80. After some time he advised me to make exit from the call @ 35.85. The profit on[protected] was approx. Rs. 2000/-.
On[protected] Mr Abhisekh Verma rang me up and advised to purchase one lot of call option of Dr Reddy's (2300) @. 106. When enquired about Mr Raj Kumar he told me that Mr Raj Kumar is on leave to-day. He after about one hour adivsed me to make exit from the call @ 112. The profit from this call on[protected] was Rs. 1500/-.
On[protected] in the afternoon Mr Abhisekh Verma rang me up and requested me to speak to his senior and he connected the call to Mrs Roshani. Mrs Roshani asked me whether I was satisfied with the calls given by Monetary Solution. I told her that on[protected] I had to book loss of Rs. 22, 500 and on[protected] booked profit of Rs. 2000 and on[protected] booked profit of Rs. 1500.
Mrs Roshani very roughly talked to me and told me to continue getting calls in option I will have to pay more amount. I told her that I have deposited Rs. 2500/- as demanded by Mr Raj Kumar, being subscription for one month. I told her that on the very first day loss of Rs. 22500/- had to be booked in absence of proper adivise from Mr Raj Kumar. Before asking me about the performance Monetary Solution should have made up the loss incurred by me.
In the evening of[protected] Mr Abhisekh Verma rang me up to say to deposit another Rs.4300/- and full loss will be made up. I told him that I am not going to deposit any amount. He again rang up after market hours to say that his Senior Mr Raj Kumar will speak to me at around 7 PM from his personal numbers to sort out this issue. However, Mr Raj Kumar or Mr Abhisekh Verma did not give any call in the evening of 3rd or whole day of 4th January, 2018.
I was told by Mr Raj Kumar that Monetary Solution is SEBI registered advisory and assured me that he will monitor calls personally so that maximum profit and minimum loss.
I feel cheated by Monetary Solution, Indore. If no corrective action is taken by Monetary Solution within a reasonable time, I have no option but to approach SEBI & the Consumer Court. All conversation in this regard are recorded.
Hope for early action.
Dayal Singh Rathore
[protected]
Monetary Solution customer support has been notified about the posted complaint.
