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CORPORATE LAWS (Company Law,LLP,SEBI,Competition etc..)





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COMMUNITY Forum

By : Rajiv
On : 08 June 2010

Unauthotised Trading Practices By religare.

 

My name is Rajiv, and I have opened my commodity & equity account in RELIGARE on (in the year 2009), with an amount of Rs. 35000/- (INR) (25000 (COMM) +10000(EQ).I was convinced By the RM & Branch Manager So I have deposited my money and my account opened  (Rally A/c).
 
The main reason behind writing this mail is I have deposited the amount of Rs. 35000/- (INR) (25000 (COMM) +10000(EQ) and without my concern trading has been done in my account and now my account balance is Rs. 700 (INR).
The Dealer has not gave a single call to me while doing trading in my account and also one day he and his branch manager meet me and told me that we’ll be taking care of your account and we required more margin, then I said a clear “No” to them because at that point of time they has traded in my account and rather giving profit to me the have gave me a loss of Rs. 5000 (INR).After saying no for paying Additional Cash Margin they started using my account for Brokerage Generation / to meet  their Brokerage Targets.
 
They never took my concern while dealing my account moreover they also not informed me about any trade done by them on call. I had neither done a trade form my end nor any concern is taken.  Now the care is in legal , but no one is responding me back I also wants to escate this issue to the regulators (SEBI) Please suggest me a way ahead as the DP is not showing interest to resolve this.
 
Plese Help.
Rajiv

 

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