COMPLAINT UNDER SEBI
Against the Fraud Research & Investment Firm- Sai Proficient Research Investment
Advisory Firm located at Indore
I am Sameer Mahawar, S/o Shri Sushil Kumar Mahawar, Resident of Summer Palms Apartment,
C2-704, Sector 86, Faridabad, Haryana Pin-121002. My contact details is +91-[protected] and
my PAN details is AHQPM5476M.
I am a very small individual investor/trader in stock market. I entered in to stock market few years
back to grow my life long savings for my future. I was having mindset that I will invest in market
and will take return over a period of time with the growth of share market. I had started investing
money in stock market since last two to three years. I have open my Dmat account in MOSL,
Sherekhan and with Zerodha. It is due to multiple pressure by multiple companies.
During the month of Nov-18 one of the trading research firm named “Sai Proficient Research
Investment Advisory”, located at Scheme No. 74 - Indore 452001, representative named
“Poonam Sharma” has called me and ask me to join their research firm. Also she has also
explained me about the good part of her firm as per her this firm is SEBI registered firm (vide
SEBI registration # INA[protected] and she insisted me to join their research firm for gaining
good amount in a very small term with the very low investments. I was very much new and don’t
know much about these kind of firms in detail. I have done little search on this advisory firm on its
web site as well as on SEBI web site about its registration with SEBI.
Initially she has introduced me with his the senior person of this firm named “Ashish Mandloi”
who sits in Mumbai branch office. He explained me quiet a lot about his firm and make many false
commitments for high gains in a very small tenure and he has confirmed about all his commitment
orally as well as on e mails.
I have gone thru with their web site http://saiproficient.com and decided to join their HNI
program post their lots of commitments. Initially they have asked me to join with the fees of 6.25
lacs. Further they had asked me to handover the D mat account with Zerodha login id and
password as they had confirmed that they themselves will be doing all trading activities on their
own in my D Mat account. I have done the same and given my Log in id and password to Sai
Proficient management team. This is completely a unethical practice which I came to know post
loosing all the money.
I had make the payment of 6.25 lacs initially in multiple ways post their confirmation and
commitments. I asked with them to share the detail with me over e mail. They had sent e mail
from their gmail id ie. [protected]@gmail.com about their offer to me but I asked with them
to share the same on their domain server id as well but my unfortunate they didn’t share any of
such commitments to me from their domain server mail id. I paid the entire amount as per our
decided terms. (Payment schedule has been shared as annexure)
Now they have started working on my Zerodha account. I was having few shares of around
150000 in my Zerodha account. Mr. Ashish Mandloi (+91-[protected]) was the RM for me from
Sai Proficient and he had sold all my shares and total realization of all shares worth INR 110, 000
approx and he had started trading in my Zerodha account and gained around INR 37, 000 in one
week thru Bank Nifty Option trade and fortunately he gained my trust to accept that I have taken
the right decision to join Sai Proficient.
After this they had came to me and put pressure on me to join their 15 Lacs service as they want
me as customer with Sai Proficient for long duration. I have denied to join their 15 lacs service
as I don’t have money to give to them but they have Threatened me over call that they will not
work any more incase I didn’t join their 15 Lac Service.
Later after lots of discussions over call and many misrepresentations they had taken balance 9
lacs from me thru multiple ways during the period from Dec 2018 to Feb 2019. This payment
schedule has been given as schedule.
Problem has started now and he had lost all my INR 110, 000 in stock market in Stock option
(Bank Nifty) trade within one week and asked me to put some more money in account. After that
I have putted INR 50, 000 again in my Zerodha account and again Ashish Mandloi has lost this
INR 50, 000 in stock option market (Bank Nifty). This time he said that put INR 100, 000 minimum
and I did so in Jan-19 and deposited INR 100, 000 in D Mat account. A few days later he lost this
money as well in stock market in Bank Nifty Option trade.
Now I asked with them what is this and what kind of service is this. He said he will be doing again
with some more intelligence and third time I put another INR 30, 000 in my Zerodha account in
Feb-19.
In one and half month Ashish Mandloi has increased the fund from 30, 000 to 110, 000 approx.
in one and half month and but by the end of April-19 he lost the entire fund again.
At this point of time I asked with them again what is this and I asked with them to refund my fee
which is paid by me for HNI services as they are completely failed in providing services to me as
per their commitment. But they had completely denied for refunding my fee but come back to me
with the solutions that they will be paying INR 50, 000 for trading purposes sothat they can start
trading once again. They had also confirmed me the same over e mail as well but till date they
didn’t come back to me with any money and then onwards they had also started not to pick my
call.
Apart from this they are saying that I had signed some papers with terms & conditions where
every terms is mentioned by them however for your information I have signed some papers but I
have also given reference of our e mail communications with them on all the papers before
signing.
Here I would like to say that I have lost my whole life savings which includes my small investment
like my kids future investments LIC’s, small investments in stock market with shares, Investment
in Mutual Funds and also they have looted my Provident Fund apart from this I had to take
personal loan of INR 5 Lacs from Axis Bank and borrowed money from my relatives to pay their
service fee and investment in my D mat account of INR 3.5 Lacs which they have lost in stock
stock market.
Now after the expiry of 6 months I have completely ruined and helpless from all around and all
my past life savings as well as personal loan of 5 Lacs for next 5 years has been looted by Sai
Proficient Research Firm. I had lost my whole life savings and future earnings to pay their service
fee and trading losses.
I know it was all my mistake as I come under their calling trap and they are extremely talented to
trap any individual by their ways and means of communication. I was already under big financial
crunch but now I have left no other choice except to sell my house to repay all the loans and
liabilities arising on me due to their service fee and losses in stock market due to Sai Proficient.
But here is my concern that when they are unable to serve their services as per their commitment
than my service amount should have been refunded back to me with interest amount which I had
paid to Banks and to my relatives.
Now neither they are not even picking up my calls and nor they are responding any of my e mails.
So here I need SEBI help to get my money refunded. Please help me as I am under deep trouble
and under mental trauma. As of now I am under Sevier depression and undergoing treatment
of Psychiatrist doctor for depression.
Overall I would like to say that I have given 15.25 Lacs to Sai Proficient and 3 Lacs approx. they
have lost in market due to their trading in stock market. Total Loss is INR 18.50 Lacs. (Details
is given as schedule)
This firm officials has misrepresented the many facts and cheated/looted me. This is a fraud
organization and their officials are highly corrupt as they are looting money of many innocent
people like me.
I request SEBI team to Cancel its SEBI registration immediately as innocent people come
under trap with the information that it is a SEBI Registered Firm.
I request to SEBI team to take legal action immediately and send all the officials behind the Bars.
And get my money refunded back to me. Their such fraudulent acts may be very harmful for
many lives.
I am also planning to file FIR against Sai Proficient Management Team with Crime Branch
Noida-Utter Pradesh.
But meanwhile I request to SEBI Officials to take immediate step to shut down their research firm
and throw all of them behind Bars to save many others lives and I pray to SEBI team to help me
in getting my payment refund from this firm. I shall be highly obliged to all of you for your help to
save my life and my kids life.
My bank account details are given below.
Name of the Saving Account Holder Sameer Mahawar
Axis Bank Limited,
Saving Bank Account- [protected],
NEFT UTIB0000022
……………………………………………………………………�...⇄
I would like to share details about this firm which is available with me.
Owner Name- Meeshika Vishwakarma and her Husband Abhimanyu Garg
Web Page- http://saiproficient.com
E Mail id meeshika.[protected]@gmail.com (Meeshika Vishwakarma- Owner)
Domain Server Mail id [protected]@saiproficient.com
Other Mail id [protected]@gmail.com
Payment id https://easebuzz, in/paysaiproficient.com
List of phone numbers by which they are calling me.
1. +91-[protected] Poonam Sharma- calling representative- personal number
2. +91-[protected] Poonam Sharma- calling representative- office number
3. +91-[protected] Whats App number of Sai Proficient Indore
4. +91-[protected] Ashish Mandloi- Trading Researcher
5. +91-[protected] Abhimanyu Garg/Meeshika- Owner number of Sai Proficient
6. +91-[protected] Abhimanyu Garg - Owner direct number of Sai Proficient
7. +91-[protected] Aarav Singh- Personal Assistant of Meeshika Vishwakarma
8. +91-[protected] Rajeev- Compliance Officer- Sai Proficient
9. +91-[protected] Mumbai Branch calling numbers
Physical Addresses of SAI Proficient Firm:
As per Website Scheme No. 74 - Indore 452001
As per Website-Registered Office Vijay Nagar, Indore(M.P.)
As per SEBI Registration Details SEBI registration # INA[protected]
Proprietor Meeshika Vishwakarma
UG-69, Trade Centre, 18,
South Tukoganj, Indore,
Madhya Pradesh- 452001
Fee details paid by me to Sai Proficient thru multiple modes like credit cards, Saving Bank
Account.
Service Fee details paid by me as per below payment schedule
INR 20, 000 on 30th Nov 2018 thru Citi Bank Credit Card. (Sai Proficient)
INR 155, 000 on 6th Dec 2018 thru Amex Credit Card. (Sai Proficient)
INR 100, 001 on 13th Dec 2018 thru Amex Credit Card. (Sai Proficient)
INR 250, 001 on 19th Dec 2018 from Axis Bank Account. (Sai Proficient)
INR 265, 000 on 27th Dec 2018 thru Citi Bank Credit Card. (Sai Proficient)
INR 235, 000 on 27th Dec 2018 thru Amex Credit Card. (Sai Proficient)
INR 200, 000 on 8th Feb 2019 thru Amex Credit Card. (Cap Vision)
INR 200, 000 on 25th Feb 2019 thru my Citi Bank Credit Card. (Sai Proficient)
INR 1425, 002 Total paid to Sai Proficient as Service Fee
Payment made in my Zerodha D Mat
INR 110, 000 on account of Sales of Shares in Nov-18
INR 50, 000 on transferred first transfer in Jan-19
INR 100, 000 on transferred second transfer in Jan-19
INR 30, 000 on transferred third transfer in Feb-19
Lost money in my Sherekhan D Mat by Sai Proficient
INR 41, 500 by Bank Nifty option initially by Ashish Mandloi
Loss on sales of Shares in Zerodha INR 80, 000
Loss on sales of Shares in Sherekhan INR 70, 000 (Power Portfolio)
Loss on account of break of Kids Policy INR 75000 (Kotak Policy)
Interest paid to Banks till May 2019 for the above said amount is INR 85, 000
Over all Loss including Fee and above loss is INR 18, 51, 502
* Poonam Sharma (Representative of Sai Proficient Firm) is ready to help me out in all the
ways and means if we need any kind of help from her.
Documents attached with complaints.
1. E Mail communication with Sai Proficient for services related information.
2. Multiple e mail communication with Sai Proficient in which lot many discussions were
going on with Ashish Mandloi, Abhimanyu and Meeshika Vishwakarma.
3. All Credit Cards and Bank Statement which reflecting the payment confirmations.
4. 4 Payment receipts given by Sai Proficient and Cap Vision.
5. E Mail communication with Meeshika Viswakarma for depositing INR 50, 000.
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