Religare Enterprises Complaints & Reviews

Dear Sir,

I hold a Demat account with Religare Securities Sec 14 branch for the past 5 years. I hold Shares in demat form. They were recently listed and i was contacted by there staff member MR. NEERAJ SAINI to operate a trading account against some facility that RELIGARE agreed to provide me. I was requested to tranfer 20000 shares of GPPL to free float account and was told that i could purchase stock worth 30 lacs. I did the same, and religare did the transactions for me. After 20 days of trading, religare informed me that the shares held by me, were in LOCK format for 1 yr and if i was to hold my current position i have to give them 10 lacs deposit. This was MPOSSIBLE to arrange, as i had told them from the start that the shares in demat was all that i could pledge. After a few days, they liquidated my position, and debited more than 3 lacs loss to my account. Since then MR NEERAJ SIANI has FLED the job, and as per my information, he has been invovled in some more such dealings. I have requested religare to fairy judge my issue and resolve the same, by repaying me the loss amount, as this was incurred due to over sight by the company.

Kindly help me, as they are not responding professionally and i have just heard once or twice from there juinor staff.. They keep seeking a NOC from me, just to close the issue and dont want me to file any complaint. This is my official filing for the same.

Regards

Kanwarjit SIngh
Account : Ks 3331

A personal loan was availed and cleared by a settlement given by them for our loan account no R4Z3S4C7L5688.After 6 months of clearing the loan by the settlement a sum of rs 69186/- has been debited to our account using the security cheques given by us..They have also not issued no due certificate till date and returned the security cheques given by us at the time of availing the loan .Kindly help us to get back the debited amount and a no due certificate. The settlement was for 80000/- to be cleared in 3 instalments of rs 25000/ 25000/-and 30000/-. The last instalment of rs 30000/- was paid by cash within 3 days of return of our cheque.For a delay of 3 days they cannot debit a huge sum like this and that too after a gap of 6 months. We have cleared on the 31st may 2010 and the this debit was made in our account on 27.11.10.we have all the proof of payment made by us.

I AM MAYUR GHELANI FROM VIRAMGAM,MY DEMET A/C NO[protected] TREDING COAD MG2202,

MY DEMET A/C TREDING COAD MG2202 TO SELL SHARE NOIDA MEDICARE & VBC INDIA AT 23 DECEMBER FROM VIRAMGAM BRANCH --5146
BUT NOT RECIEVE TO DIS SLIP & DIS SLIP SENT TO AHMEDABAD OFFICE

AHMEDABAD OFFICE IS 60 KM DISTANCE IN MY HOUSE,
I CALL TO PRADEEPBHAI DAVE IN AHMEDABAD OFFICE THEN I RECEIVED DIS SLIP

REGARDS
MAYUR G GHELANI
SUTHARFALI NR,SWAMINARAYAN MANDIR
VIRAMGAM-382150
MO-NO [protected]

PLEASE READ

I invested 50,000/- in RELIGARE COMMODITIES LTD (member of MCX) on 31/12/2009.

31.12.2009 : I bought 1 lot mini gold future and 1 lot silver future (using margin money provided by Religare Commodities Ltd.)

01.01.2010 : Holiday

02.01.2010 : Saturday, as I did login in my account, there was lot of money FOUND in my account, Religare (MEMBER OF MCX) was using my account without informing me and lot of lots of gold and silver were found in sold position including of my position, ‘I lot of gold and 1 lot of silver’. I tried to contact member but no response. To catch them as RED HANDED, I started to buy back the sold position AS PROOF otherwise all did trading could be removed by the evening.

03.01.2010 : Sunday

04.01.2010 : Monday my account had been suspended and my bought position had been sold by member. In this process I had Rupees 30,00,000 profit, but member did trading again without informing me (in my suspended account) and now ledger was showing loss of Rs.80,00,000/-

06.01.2010 : I informed to MCX

NO REPLY

SINCE, 06.01.2010, I contacted many times to MCX by phone/by mail ……… no reply!

After all, many of mails/phones, I received a mail from MCX and was said, to send all related documents to MCX Mumbai.

I sent all documents by speed post to MCX (about 1200 pages in one set x 2 sets)

Waited for two months for their reply……. No reply!

Only the answer : we, are trying to contact member.

Finally, I was suggested by MCX to put complaint against member in ARBITRATION. I did same and sent again 4 sets (1200 sheets in one set, so total abt 7000 sheets) of documents to MCX and paid rupees 14,000 as fees. As, I had shifted my residence from Delhi to Mumbai and had submitted an application to MCX Mumbai to update my new address in their record. I selected 3 ARBITRATORS in Mumbai but my application was rejected and suggested me by MCX to choose 3 ARBITRATORS from DELHI only. I did same. Now after of 6 months I could put my complaint to ARBITRATORS, even I was ready on initially stage but MCX said me we are trying to contact member so please wait….! I got a letter about first hearing date, would be in Delhi MCX on 02.09.2010. Thank god!! On first hearing date I would have to go to Delhi from Mumbai. On hearing date, Arbitrators ordered to member to pay me verbally, and in written, a paper was given to me that award is reserved. Thank god!!! Now again no reply…no communication…. I tried to contact MCX when my award will be made….. MR. PARVEEN KOTIA (MANAGER LEGAL) told me to wait up to three months i.e. till 2nd December 2010 and do not ask us till 2nd Dec. but some other from the same branch told me that this rule does not follow for the reserved award, this rule only follows for the made award……! Again confusion! I mailed to all concerned department of MCX on 22.11.2010. Very next day I got call that your award would be send to you with in 1-2 days. Thank god!!!! After four days I got call your award is ready and you can collect personally also, if you want. Thank god!!!!ahhhh!! after a long journey. BUT as I received award, surprised to see only 50,000/- passed. Ohhh! I invested 50,000 + 14,000 fees + 50,000 other expenditure in whole year = 1,14,000 and only passed my invested money even it was well known that member did trading in my account which is known as BUCKETING in MCX rules and it is a CRIME. In the meantime Member used police and persons who visited my home and harassed me. If member did not sell my position on 01/01/2010 as future position e.i. May 2010, I could earn more than 10,00,000/- Now – a-days, I am daily trying to contact MCX Mumbai about where is my passed award and when will I get, what have you taken action against BUCKETING…… no satisfactory reply. STILL WAITING AWARD…..Ohhhhhh! TOO MUCH TIRED!

What I have mentioned above are very true and I have all proofs what I have stated above.

NOW by this decision it is open to all MEMBERS that they can use any client’s account and can do trading without his/her permission without any hesitation. If client puts complaint, no problem!! after one year pay back his/her invested amount only on condition if he/she suffers a long journey otherwise you can keep that amount also with you. If, there is any argument or question arises you can show my case.





[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 23 Dec 10 12:08:48
Subject: Re: Re: Re: Fw: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: praveen.[protected]@mcxindia.com; [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ <[protected]@ftkmc.com>; "sumandas.sarma" <sumandas.[protected]@mcxindia.com>



Dear Sir,

I have not received any reply of the following mail sent previouslly. please reply.....!

Please let me know if this is BUCKETING or not as I have mentioned many times the trading was done by M/s Religare Commodities on 2nd Jan 2010 in my account without exectution. If your answer is NO. I shall stop this corresspondance further in this matter and if your answer is YES please please please tell me what action has been taken against company. I have been asking since 2nd Jan about this matter e.i. BUCKETING. You have never replied me about this matter. Please Please let me know is this known as BUCKETING or not.......?



[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 19 Dec 10 12:20:29
Subject: Re: Re: Fw: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: praveen.[protected]@mcxindia.com; [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ <[protected]@ftkmc.com>; "sumandas.sarma" <sumandas.[protected]@mcxindia.com>




[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 19 Dec 10 12:17:18
Subject: Re: Fw: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: praveen.[protected]@mcxindia.com


Dear Sir,




Thank you very much for attachment. Please let me know if this is BUCKETING or not as I have mentioned many times the trading was done by M/s Religare Commodities on 2nd Jan 2010 in my account without exectution. If your answer is NO. I shall stop this corresspondance further in this matter and if your answer is YES please please please tell me what action has been taken against company. I have been asking since 2nd Jan about this matter e.i. BUCKETING. You have never replied me about this matter. Please Please let me know is this known as BUCKETING or not.......?



[protected] Original message[protected]
From:""Praveen Kotian""< praveen.[protected]@mcxindia.com >
Date: 17 Dec 10 13:53:51
Subject: Fw: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: <[protected]@in.com>



Dear Mr. Ashwani Roddy,


Please find attached herewith the scanned copy of letter sent to Religare Commodities Ltd., to comply the award passed in the matter.


Regards,


Praveen V. Kotian

Sr. Manager - Legal

Phone: +91 - 22 – 6731 9138 Extn: 9138

Fax: +91 – 22 –6649 4151

E-mail: praveen.[protected]@mcxindia.com

URL – www.mcxindia.com



[protected][protected][protected]
The information in this E-mail (which includes any files transmitted with it) is CONFIDENTIAL and may be legally PRIVILEGED. It is intended solely for the addressee and access to this email by anyone else is unauthorized. If you have received it in error, please destroy any copies of this message, including any attachments, and delete it from your system notifying the sender immediately. Any disclosure, copying, distribution, dissemination, forwarding, printing or any action taken or omitted to be taken in reliance on it or utilising the same for any purpose other than what it is intended for, is prohibited and may be unlawful

[protected][protected][protected]


From: Anna Shejwal/MCX/Membership
Sent: Friday, December 17, 2010 11:30 AM
To: Praveen Kotian/MCX/Legal
Cc: Santosh Sawant/MCX/Membership
Subject: FW: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)




From: ASHWANI RODDEY [mailto:[protected]@in.com]
Sent: Thursday, December 16, 2010 9:18 PM
To: info-mcx; customer_relations MCX; Membership; Compliance; trading; margin; C&S; settlement; Delivery; NBHC-Demat; Tech Desk/MCX/Systems & Networking; systems; [protected]@mcxindia.com; BusinessDevelopmentMCX; MCX Research & Planning; training; FTKMC-knowledgeformarkets; SumanDas Sarma/MCX/Communications
Cc: ashwani.roddey; roddey
Subject: Fwd: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)


Kind Attn.: Mr. Parveen V Kotian (Sr. Manager - Legal)

Sir,

Thank you very much for reply. But this regards previous email. Yesterday, I mailed you as following. I shall be great thankful again if I receive reply from ur side regarding below:

* As on telephonic talk between you and me a meeting would have to held in this week. I HAVE BEEN WAITING SINCE THEN.

* Please let me know what action has been taken or is being taken against RELIGARE COMMODITIES, who was involve in doing trading in my account without execution on 2nd Jan 2010 which is known as "BUCKETING" as per MCX rules. I have submitted documents as proof two times in MCX-MUMBAI since then and have reported by e-mail, by phone many many many times.

* My investment was Rs.50,000 on 2nd Jan as in 1 lot of gold future and 1 lot of silver future and both were unavailable on 2nd Jan on trading platform because of other un-executed trading which was being done by RELIGARE. To catch them as RED-HANDED I SQUARE-OFF some o[censored]n-executed trading and made profit of Rs 30,000,00/- RELIGARE suspended my account on next working day. After 11 months and spending lot of time, money, labour, I could not able to get my profit, By using Arbitration, I could save only my Rs50,000/- which is still not received and is in awaiting. Please let me know WHEN?


[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 9 Dec 10 23:19:03
Subject: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ <[protected]@ftkmc.com>; "sumandas.sarma" <sumandas.[protected]@mcxindia.com>
Cc: ashwani.[protected]@sify.com



[protected] Original message[protected]
From:""Praveen Kotian""< praveen.[protected]@mcxindia.com >
Date: 16 Dec 10 10:06:38
Subject: Fw: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: <[protected]@in.com>
Cc: <ashwani.[protected]@sify.com>



Dear Mr. Ashwin Roddy,


Pease note that, since the Award has already been passed, it is beyond the purview of the Exchange as well as inconsistent under the provision of Arbitration and Conciliation Act, 1996. In the event you are dissatisfied with the Award, you may appeal to the competent court of jurisdiction under section 34 of the Arbitration and Conciliation Act, 1996, for setting aside the award within a period of three months from the date of receipt of Award.


Please note that that as per the provisions of the Bye-Laws of the Exchange, any party to the reference, willing to prefer an appeal against the award passed by the arbitrator in the matter is required to deposit the award amount with the Exchange before preferring an appeal.


The relevant provision of the Bye-laws is as under-

40 Right to Appeal


15.40.1 Award Final and Additional Risk Containment Measures applicable -


A party to a reference who is dissatisfied with an award of the arbitral tribunal may appeal to the competent court of jurisdiction as provided in the Arbitration and Conciliation Act. The award shall be final under these Bye-Laws and Regulations of the Exchange and vis--vis the Exchange in terms of any action, which is required to be initiated, as may be provided for in the Bye-Laws or notifications issued from time to time.


Provided that the party to the reference shall be required to deposit the amount of award with the Exchange before filing the appeal and such amount shall be kept with the Exchange in abeyance and shall be disposed of eventually as per direction of the Court.




Regards,


Praveen V. Kotian

Sr. Manager - Legal

Phone: +91 - 22 – 6731 9138 Extn: 9138

Fax: +91 – 22 –6649 4151

E-mail: praveen.[protected]@mcxindia.com

URL – www.mcxindia.com



[protected][protected][protected]
The information in this E-mail (which includes any files transmitted with it) is CONFIDENTIAL and may be legally PRIVILEGED. It is intended solely for the addressee and access to this email by anyone else is unauthorized. If you have received it in error, please destroy any copies of this message, including any attachments, and delete it from your system notifying the sender immediately. Any disclosure, copying, distribution, dissemination, forwarding, printing or any action taken or omitted to be taken in reliance on it or utilising the same for any purpose other than what it is intended for, is prohibited and may be unlawful

[protected][protected][protected]



From: ASHWANI RODDEY [mailto:[protected]@in.com]
Sent: Thursday, December 16, 2010 1:24 AM
To: [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; c&[protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; [protected]@mcxindia.com; knowledgeformarkets; sumandas.sarma
Cc: ashwani.[protected]@sify.com
Subject: Re: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)


Kind Attn.: Mr. Parveen V Kotian (Sr. Manager - Legal)

Sir,

* As on telephonic talk between you and me a meeting would have to held in this week. I HAVE BEEN WAITING SINCE THEN.

* Please let me know what action has been taken or is being taken against RELIGARE COMMODITIES, who was involve in doing trading in my account without execution on 2nd Jan 2010 which is known as "BUCKETING" as per MCX rules. I have submitted documents as proof two times in MCX-MUMBAI since then and have reported by e-mail, by phone many many many times.

* My investment was Rs.50,000 on 2nd Jan as in 1 lot of gold future and 1 lot of silver future and both were unavailable on 2nd Jan on trading platform because of other un-executed trading which was being done by RELIGARE. To catch them as RED-HANDED I SQUARE-OFF some o[censored]n-executed trading and made profit of Rs 30,000,00/- RELIGARE suspended my account on next working day. After 11 months and spending lot of time, money, labour, I could not able to get my profit, By using Arbitration, I could save only my Rs50,000/- which is still not received and is in awaiting. Please let me know WHEN?


[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 9 Dec 10 23:19:03
Subject: Re: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ <[protected]@ftkmc.com>; "sumandas.sarma" <sumandas.[protected]@mcxindia.com>
Cc: ashwani.[protected]@sify.com

Thank you very much for reply by telephone by Mr Praveen V Kotian (Sr. Manager - Legal). As telephonic talk a meeting is tobe arranged with you/your seniors regarding this matter. Waiting for your call when and where, I have to attend.

I would also like to request you as in F.A.Q in ARBITRATION "a party to the reference who is dissatisfied with an award of the arbitration may challenge the same before the competent court of jurisdiction as provided in the Arbitration Act. However party to the reference shall have to deposit the amount of award with the Exchange before filing the appeal and such amount shall be kept with the Exchange in abeyance and shall be disposed of eventually as per the direction of court" please let me know how can I appeal?

Regards,

Ashwani Roddey

[protected]

[protected][protected][protected][protected][protected][protected][protected]


[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 9 Dec 10 14:28:48
Subject: Re: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi PASSED ON NOVEMBER 26,2010)
To: [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ <[protected]@ftkmc.com>; "sumandas.sarma" <sumandas.[protected]@mcxindia.com>
Cc: ashwani.[protected]@sify.com


[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 9 Dec 10 14:10:58
Subject: Re: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi)
To: [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄
Cc: ashwani.[protected]@sify.com

I had a commodity account with RELIGARE COMMODITIES LTD. On 31.12.2009 I had invested 50,000 in commodity trading. On 02.01.2010 company did trading in my account without execution of me and crores of rupees were found in my account as the company short sold gold and silver lots in a large quantity, icluding of my lots which I had on 31.12.2009 against of my investment i.e.50,000. It is clearly known as BUCKETING as per MCXINDIA rules. I tried many times to contact company for this unexecuted trading but no response was there. To catch them as RED-HANDED I used amount which I had in my account to buy-back the sold items without execution. If, I did not do buy-back all the trading done by company could be remove by the eve and no proof would b there to loadge complaint against company.

On 04.01.2010 company sold all lots which I bought on 02.01.2010 and in this process I gained profit 29,65,274.30 but company closed my account and deny to pay. I contacted MCXINDIA. MCX tried to solve the matter by using meetings but RELIGARE did not attend any meeting. Finally, I was suggested by MCX to apply for an ARBITERATION. I did same and paid fee 14,000 .

On first hearing in DELHI MCX the arbitrators ordered to RELIGARE to make payment and I was satisfied, congratulation ur award is reserved. After this decision the matter was closed. Again same problem no communication was being long time. I called again and again to MCX but no positive reply. I mailed co communicaion VP and after that I received a call from MCX MUMBAI that ur award is ready and collect it. As I ollected my award, I surprised to see it. Only 50,000 was passed in my favour. All process took time 11 months and I had spent more than 50,000 for this case. Now questions arise here

WHAT ARBITRATORS DONE AGAINST BUCKETING DONE BY RELIGARE?,

WHERE IS THAT PROFIT I MADE AT THAT TIME WHICH IS 29,65,274.30?

IS IT RULE THAT ANY MEMBER CAN MISUSE HIS CLINTE'S ACCOUNT?

WHAT STEP HAS BEEN TAKEN AGAINST RELIGARE TO USE CLINT'S ACCOUNT WITHOUT HIS PERMISSION?

I NEED HELP.....!!! I DID GOOD JOB AND EVERYTHING I HVE EXPLAINED IN DOCUMENTS WHICH ARE MORE THAN 1200 AND I SENT ALL THESE PAPERS MORE THAN 30 SETS TO MCX AMD RELIGARE. MORE THAN 30,000 I SPENT FOR PRINTING AND SENDING. I WAS HARRASED BY POLICE ALSO (RELIGARE DONE).....!! I NEED HELP.....!!!

I WANT JUSTICE

After following email the award passed but one sided. Please read above.



[protected] Original message[protected]
From:"ASHWANI RODDEY"< [protected]@in.com >
Date: 22 Nov 10 17:39:25
Subject: Arbitration matter no:MCX/Legal/434A/10 (Hearing date : September 02,2010 at MCX Delhi)
To: "info" <[protected]@mcxindia.com>; [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄ [protected]@mcxindia.com;[protected]@mcxindia.com;[protected]@mcxindia.com;[prot...⇄
Cc: ashwani.[protected]@sify.com

ARBITRATION MATTER HAS BEEN RESERVED FOR AWARD, BUT HAS NOT BEEN MADE

* I CALLED MANY TIMES TO MCX-MUMBAI AND MCX-DELHI FOR ENQUIRY REGARDING MATTER BUT NOT SATISFACTORY REPLY.

* I AM UNABLE TO CONTACT MY ARBITRATORS

* I DO NOT KNOW THE NEXT STEP

* I NEED SUPPORT

Dear Sirs,

Before the Arbitral tribunal consisting of

1. Justice V S Aggarwal (Retd.) - Presiding Arbitrator

2. Smt. Lakshmi Swaminathan - Arbitrator

3. Shri R K Ahooja - Arbitrator

about the subjected matter on first and final hearing on September 02,2010 at Delhi, a photocopy of written one page document was given to me as enclosed herewith.

After the hearing, no body from MCX side has conducted me or informed me by phone/email/corresspondance/sms or any other communication way.

I tried to contact many times in Delhi to 'Versha Ji' and in Mumbai to 'Parveen Ji' regarding the matter "what is the next step?, what to do?, even the matter had been closed and had been reserved for Award (according to photocopy given to me and which is attached herewith also), I have not received any information from your side, how long I have to wait?"

The only reply is received that the Award has not been reached to us. as soon as it will reach to us, we shall send to you.

On asking how long I have to wait, reply : wait for three months, it is maximum time limit.

I am thankful to Versha Ji and Parveen Ji. I am also regardful to Arbitrators.

I would like to request here, kindly let me know by your side by writing/email/phone/corressponadnce at my corresspondant address or any other communicating way by which, I may confrim the next step and how long I would have to wait.

Thankyou Verymuch

With Regards,

Ashwani Kumar

Ph: [protected] (Mumbai), [protected] (Delhi)

Emai: [protected]@in.com, ashwani.[protected]@sify.com

Religare securities has changed software for equity trading.

New software is bogus. company said that brokarge will crdit to your account but still date brokrage not credited to my account. At the begining in intraday trading stock will auto sale by company. Now its not available and stock goes to delivery and charge brokrage for delivery. Company has not given demo of new software and their employee are unknown about new software. and opitons

I am holding a account with your organisation.
I had requested too reduce the brokerage too 3 paise as on 26th October in the evening.
Got confirmation that it is done. Asked continually and got confirmation that my brokerage is 3 paise.
I was in a real shock when I got to know that its still not done. All our conversation can
be checked on your phone call back ups. I have been informed that yes my brokerage is 3 paise.

Now when I have come at this stage its totally a big shocker that the brokerage is still not reduced.
The company has completely cheated me and has gone against business ethics completely.

Dated :[protected]
I HAVE AN EQUITY A/C IN RELIGARE SECURITIES LTD. AT BN BLOCK,LSC,MAHADEVI CHAMBERS, SHALIMAR BAGH,NEW DELHI-110088 REF. CLIENT ID- TRADING USER ID DG8561 ( CRN [protected] ).THE STAFF IN THE BRANCH HAS DONE UN-AUTHORIZED TRANSACTION IN MY A/C AND HAS COMMITTED THEREBY A FRAUD / CHEATING . WITHOUT MY ORDER / INSTRUCTIONS. ON[protected] THEY BOUGHT 1350 SHARES O[censored]RJA GLOBAL LTD. @ 117.40 PER SHARE WITHOUT MY KNOWLEDGE / ORDER / INSTRUCTIONS.THE VALUE OF THE PURCHASES IS RS.1,58,940/- & DEBITED MY A/C WITH THEM WITH RS. 1,59,051.64 ON[protected] WHEN THERE WAS A CREDIT BALANCE OF RS.49,588.41 ONLY IN MY A/C ON[protected] RESULTING INTO A DEBIT BALANCE OF RS.1,09,463.23 ON[protected] IN THE ACCOUNT WITH THEM.I IMMEDIATELY DENIED THE TRANSACTION TO THE BRANCH ON RECEIVING THE INTIMATION BY SMS AND DID NOT CONFIRM THE SAME. MY CREDIT BALANCE OF RS.49,588.41 EXISTING AS ON THE DATE O[censored]N-AUTHORISED PURCHASE IN THE A/C NEED TO BE RESTORED IMMEDIATELY.
THE COMPLAINT LETTER/S OF MINE DELIVERED TO THE BRANCH MANAGER OF THE RELIGARE AT SHALIMAR BAGH,DELHI CARRIES THE COMMENTS OF THE ACCEPTANCE OF THE FRAUD BY THE BRANCH STAFF WITH AN ASSURANCE OF THE REFUND / RECTIFICATION / RESTORATION OF MY CREDIT BALANCE OF RS.49588.41 IN THE A/C BY THE BRANCH MANAGER.

I CALL UPON THE SENIORS OFFICIALS INCLUDING THE CEO / DIRECTORS OF THE RELIGARE TO DO THE NEEDFUL IMMIDIATELY OR ELSE I SHALL BE CONSTRAINED TO FILE THE FIR AGAINST THE COMPANY / BRANCH / DIRECTORS / CEO IN THE MATTER.

I ALSO CALL UPON THE CEO / DIRECTORS TO ACKNOWLEDGE MY COMPLAINT IMMEDIATELY.
THE CONFIRMATORY COPIES OF MY WRITTEN COMPLAINTS TO THE BRANCH MANAGER,RELIGARE WITH BEING FORWARDED SEPERATELY,ALTHOUGH, THE SAME HAS ALREADY BEEN INFORMED / CONFIRMED TO ME BY THE BRANCH MANAGER TO HAVE BEEN FORWARDED TO THE RESPECTIVE SENIORS IN THE COMPANY.
AN URGENT / EARLIEST NECESSARY ACTION IS REQUESTED IN THE MATTER.. (complaint confirmation code : 34273 at [protected]@onlinereligare.com)
--DEVENDER GAURI
TEL. [protected]
E-MAIL : [protected]@rediffmail.com

FROM THIS COMPANY I HAVING RECEIVE SO MANY MARKETING CALLS OF TRADING ACCOUNT OPEN IN STOCK MARKETS.
PH NO.[protected]

I had a commodity account with RELIGARE COMMODITIES LTD. On 31.12.2009 I had invested 50,000 in commodity trading. On 02.01.2010 company did trading in my account without execution of me and crores of rupees were found in my account as the company short sold gold and silver lots in a large quantity, icluding of my lots which I had on 31.12.2009 against of my investment i.e.50,000. It is clearly known as BUCKETING as per MCXINDIA rules. I tried many times to contact company for this unexecuted trading but no response was there. To catch them as RED-HANDED I used amount which I had in my account to buy-back the sold items without execution. If, I did not do buy-back all the trading done by company could be remove by the eve and no proof would b there to loadge complaint against company. On 04.01.2010 company sold all lots which I bought on 02.01.2010 and in this process I gained profit 29,65,274.30 but company closed my account and deny to pay. I contacted MCXINDIA. MCX tried to solve the matter by using meetings but RELIGARE did not attend any meeting. Finally, I was suggested by MCX to apply for an ARBITERATION. I did same and paid fee 14,000 . On first hearing in DELHI MCX the arbitrators ordered to RELIGARE to make payment and I was satisfied, congratulation ur award is reserved. After this decision the matter was closed. Again same problem no communication was being long time. I called again and again to MCX but no positive reply. I mailed co communicaion VP and after that I received a call from MCX MUMBAI that ur award is ready and collect it. As I ollected my award, I surprised to see it. Only 50,000 was passed in my favour. All process took time 11 months and I had spent more than 50,000 for this case. Now question arise here WHAT ARBITRATORS DONE AGAINST BUCKETING DONE BY RELIGARE?, WHERE IS THAT PROFIT I MADE AT THAT TIME WHICH IS 29,65,274.30? IS IT RULE THAT ANY MEMBER CAN MISUSE HIS CLINTE'S ACCOUNT? WHAT STEP HAS BEEN TAKEN AGAINST RELIGARE TO USE CLINT'S ACCOUNT WITHOUT HIS PERMISSION? I NEED HELP.....!!! I DID GOOD JOB AND EVERYTHING I HVE EXPLAINED IN DOCUMENTS WHICH ARE MORE THAN 1200 AND I SENT ALL THESE PAPERS MORE THAN 30 SETS TO MCX AMD RELIGARE. MORE THAN 30,000 I SPENT FOR PRINTING AND SENDING. I WAS HARRASED BY POLICE ALSO.....!! I NEED HELP.....!!!

Dear All,

Don't open account in RELEGERE SECURITIES any where in india try to open account in nationalise banks since all privates are big cheater,

for there money requirement they will buy n sell our shares without our notice. be careful while filling the application in any companies one of the page consists of your power of authority to do transaction in your account.

Is our money who they bleady people to operate on our money, just take suggestions about market and decide your self for transactions, don't belive any people even though they are very close, money will make any one bad, later we can't do anything with this.


you know in each branch they have to make transactions (commsion or brokrage) 8 times of there salary
then only they will get even manager or co-ordinator.


Please people AWAKE AGAINEST SUCH COMPANIES THEY WILL LEAVE IN THE SOCIETY WITH OUR MONEY.


BE CARE FUL ALL.

i forgot my religare equity account password. so plz help me to change my password.

This is to inform you that I have submitted all documents along with cheque of amt rs ten thousand for new trading account opening. Although the mentioned amount has been debited from my account but account still not open. I have called & mailed more than twenty times but neither they are giving my money back nor they are able to open account.
Requesting you that plz intervene and help me to get my money back as I have a victim of fraud from this company.

I have a Dmate Account with Religare vide ID MB 3800 wherein I had put my money as a Deposits with them to deal in Shares, but on enquiring my account statement, I found that there are several transactions made into my account without my consent and ultimately I had loose a lot more becasue of them.

I have made several request and emails to them but they are not responding and no replies to emails are given by them for more than one months.

You are requested to please intervene the matter and arrange to give me appropriate credit including interest and compensation into my account and penalised to all concerned with huge of penalty becasue of breach of contract in this regard with their cleints under intimation to me.

With Regards

Meena Bhatt

Email ID [protected]@yahoo.com

I had not received my full pf claim as per statement provided by the company. Nither any hr person nor any epf officer is picking up my ph to make it clear

sir/mam,
I VIKAS KAIM emp.code 9270 woked with religare securities ltd. After leaving the job i had applied for my full n final claim of pf. My application was submitted by manoj who is working s an operation executive in noida branch. On 4th sep i got credit of 12933 in my a/c. I just can't understand why i got credit of only the above said amount. now when i speak to pf officer he told me that my pf exist in maharastra so he can not help me. then after i tried to speak hr officer they were not picking my phone. my try to understnd my prob n help me out or provide a particular no on which i can spek to ny pf officer or somebody else who can help me out. this is my pf ac no. MH/38968-A/6997

thanx n regards
vikas kaim

Sir,

I have send the two written complaints in company but no any responce, then after your sour source is choose.
More Verbal Complaints (Telephonic), but no any responce by our RM (Mr. Abhishek Kumar)(RELIGARE COMMODITIES LTD.- , NEHRU PLACE BRANCH).

I request to you , our our problems shortout as earliest.I have attatched both written complaints (Dated 02/11/2010 & 22/03/2010

Thanks & regards

Alok Chand
A- 51, NANDGRAM, MEERUT ROAD,
GHAZIABAD
[protected], [protected]



Complaint-1.

.Sir,
With reference to above subject, Time to time very LOSS in our Equety
& Commodity A/C (FOR EX.- Yesterday Trading), Then I have decided to
close the Bothe a/c (Equety & Commodity) due to your poor services
Then all our scripts are sell and Tranfer (pay out)our all amount in
our Saving a/c.Also all resons of provided to me , before a/c
closing, otherwise I have choose other source for our sollution.

Thanks

Alok Chand

AC 2083


FOR REF.---
Our Also BDR A/C

PS 8101 - PREMPAL SINGH

AS 12482- AMITA SINGH

V.K.MISHRA- NEW A/C


Complaint - 2

Sir ,
I have already similal complaint send to you on 18/03/2010
Communication Ref: Rel-2850368., but no any response accepp
obligation. Also repeated thes complaint by branch (Dealing Man (RM)-
Mr Abhishek Kr9 cOMMODITIES). lAST cOMPLAINTS ATTATCHED
This is to inform you,I have continue the commodities A/C in your
company for 4 month back, but very poor services your branch office
(Nehru place).
In last friday evening sesson, our all script has been reduced by
BRANCH/ RMC in our A/C without any information to me,For your
knowledge Amount available (MARGIN MONY) in our A/C has been
sufficient. The same problem came last one month back but no any
responce by your branch.

Also other complaint, Ihave transfered Rs.20000/- In your Religare
commodities A/C, BUT NO CREDIT in our trading A/C (CREDIT IN OUR
EQUITY A/C after 20 days).
I talk to branch (RM), BUT NO ANY RESPONCE this process (reason send
by your branch by bank mistake).

Kindly help me, our above comlaints process IN CASE i HAVE Another
source apply for Above Complaints. For Your Knowledge Also I have
received by BDR Code For Your Company for develop your company
business.But no proper services provides

Thanks & regards

Alok Chand

A/C CODE- AC2083 ( ALSO 5 NOS OF ANOTHER A/CS EXITING IN YOUR CO.

tHANKS

I am yet another victim of Religare securities. I regret the day I opened a demat a/c with religare.
I should have checked about this company in internet.

The hard fact for me is that I have lost my 75k/- rupees and religare made my a/c debit by another 1.35 lakhs. My RM did transaction for 18 Lakhs in nifty call/put without informing me.

This company is ran by people whose only purpose is to confuse individual investors and make their own money as commissions.

Thanks,
Subodh

In Feb 2009 I subscribed to Religare Secutities trading platform Racepro for a subscription fee of 1500/- and addvance brokerage of 2500/- on the following conditions granted by their salesmen (vikas-[protected], prashant-[protected]):

1] my account shall be activated in 11 working days,
2] I shall be provided with uninterrupted end-of-day and intra-day charts
3] each and every trading requirement shall be provided online, e.g. margin stats, exposure limits, fund transfer facilities etc.
4] I shall be given an exposure of intra-day 20 times

They abided by none of the above conditions.
1] more than 25 days to open my account
2] nifty charts were not available. those that were available would shut down every 20 minutes requiring shutting down and reopening of Racepro
and reconstructing those charts every 20 minutes needing 6/7 mnts every time.I have sent details and snapshots of these problems to
Tanaji([protected]) of Religare very often but to no avail.
3] I was not given 20 times exposure.
4] I have put in accounting queries to them [Tanaji] with no response except that computers dont make mistakes.

Whenever a problem is put to the Mumbai Religare office their constant refrain is ' call helpline of email customer service'. Their helpline number takes anything upto 30 minutes to access and at the end they say its a tchnological problem and nothing can be done about it. When I requested the employees to give me the names of their bosses so I can discuss the problem with them I was refused on grounds of corporate confidentiality (Prasad, tanaji, and all others.) ! I tried to contact Amit Joshi, their Ghatkopar chief over telephone- [protected]- board no. attended by a watchmen, a very common practice all over- for 3 months but was told he was out of office everytime. On one instance i called them from the ground floor of their office building and got the same reply- out of office. I ran up the office stairs and into his cabin and there he was.He threatened to close my ccount. At present there Ajay Raj ([protected]) handling the afffairs. I have been calling him for 3 months but he refuses to take the call. Three days ago i called him at 11.30 p.m. He took the call and said he was not Ajay Raj fand that it was wrong no. When I reminded him of the talk we had 3 months ago and that problems have grown worse and i intend complaining to SEBI he said I was welcome to go to SEBI .

Now their Delhi office has decided to localise their Mumbai operations replaced RAcepro with Odin trading. Kindly note their office uses Odin_Client and customers are given Odin_Diet. As per their staff none of the online facilities will be available.All we have is a module to place buy /sell orders .

Dear Sir I have gone through intense anxieties because of REligare. I have traded with ICICIDIRECT, Kotak, Refco, Investsmart, Indiabulls. Imust say they all have had problems. However, internert trading was new then.But none has been ruthlessly negligent like Religare. I am a retired pensioner and find it difficult to deal with these people.I beseech you to help me restore equity in the case.

I went to purchase some medicines, but because of non-availability of medicines, staff told me that don't waste our time, we have other customers,

I have to say that out of 3-4 persons moving from here to there, they cant even handle 2-3 customer simultaneously, rather provision stores works better than this pharmacy shop in Customer Handling and Caring.

Finally i purchased medicines, cashier told me that talk in kannada only, what the motive is?? Incompetency of the staff to talk in English or Hindi??? This is a kind of cultural hindrance. He finally blasted also that Otherwise don't come here...?

DEAR CONCERN,
I LIKE TO BRING YOUR KIND NOTICE ON MY PROBLEM WHICH IS AGAINST RELIGARE SECURITIES LIMITED.
ON 7/10/10 I HAD TRANSFERED 5200 RS. TO MY TRADING A/C NO. N172476 IN RELIGARE SECURITIES LTD FROM MY AXIS BANK A/C. BUT TILL DATE (18/10/2010) I HAVE NOT RECEIVED THE MONEY IN MY A/C. EVEN THOUGH I HAD MAILED AT THERE BRANCH OFFICE IN LUCKNOW, CALLED THE CUSTOMER CARE NO. THREE TIMES AND THEY HAD GIVEN ME REFERENCE NO. 4011672 ON 14/10/2010 SINCE THEN I CALLED THEM TWICE ON FOLLOWING DATES BUT NOTHING HAPPENED.

: 16/10/10
: 18/10/10

PLEASE DO THE NEEDFUL & HELP ME OUT.......!!

REHAN MANZOOR
MOBILE NO. : [protected]