Want expert advise
Mr. Hitendra Shah
(Querist) 09 October 2011
This query is : Resolved
I am a Complainant in the case. In the said case Charge Sheet has been filed Under Sections 420, 465, 466, 467 & 34 in the year 2009. The charges have not been framed and trials have not commenced so far. In these years I gathered more evidences from Authority, Depository and Depository Participant. From the documents I found that many more accuses can be added. In this connection I sent complaint along with new evidences to the Senior Police Station for conducting further Probe/Investigation for preparing additional Charge Sheet on the basis of new documents found. He called me on 8/10/2011 and took my signature on the statement which he prepared, mentioning date as 7/10/2011 on the statement. In the statement he mentioned that for the re-investigation I should take Court Order. Now what should I do?
From the new documents that I collected, it is found that
1) Stock Exchange has granted Bolt/Terminal of main broker illegally to unregistered Sub-broker and allowed the main Broker to develop cliental work illegally through unregistered Sub-Broker and allowed them to issue fictitious, false and bogus bills to all the clients.
2) The main Broker got notarized POA of the clients of the Brokers BLANK, without having details of Bank A/c and Demat A/c numbers on the said POA. The main Broker is Broking firm, Pvt Ltd company. The broker might have taken many Blank copies of notarized POA out of which it gave one copy to the Bank for opening my new accounts in the year 2005 and one copy it gave to the Police IO in the year 2007 which was not verified by the Bank. In this copy the Broker filled in in its own way the details of my new Bank and Demat A/c and gave the said copy of POA to the Police, Committing Forgery on the said copy of POA. The POA holder was appointed by the Broking Firm. He was an employee and signatory in the Broking Firm and he is close relative of MD of the Broking Firm. The broking firm was proving finance in MARGIN TRADING to its clients through its associate firm and through its MD and therefore it was getting opened new accounts of the clients in the Bank and getting notarised the POA of the clients from his own Notary. The main broker got my signature on the blank accounts opening forms and blank POA by deceiving me by criminal breach of trust.
3) The Notary was involved in fraudulent activity. He notarised Blank POA of the Clients of the Broking Firm on the direction of the MD of the said Broking Firm.
4) On the direction of the MD of the Broking Firm the Bank accepted and verified the Blank POA. The bank and the broker chose for me I) "other than Individuals" form for opening my Bank A/c, considering me as Corporate and in the column Date of Incorporation they filled in my date of birth etc II) they chose for me "Corporate Internet Banking" application form to open my Internet Banking account. I did not fill any of these forms nor did I fill POA. The POA was in my individual name only. As all the formalities were carried on by the Broker, I did not have the copy of any of the documents and therefore I asked the Bank to sent me copies of all the documents. The Bank replied me on 30/9/2010 and sent me copies of some of the documents. In the verified copy of the POA I found that there was no mention of my Demat A/c number and DP ID on my POA and even then the Bank allowed POA holder to transfer my shares from my Demat A/c. There was only one POA holder on the POA but the Bank allowed 3 fraud, invalid, illegal and unauthorised POA holders to transfer my shares fraudulently, illegally and without any authority. My POA was notarised on 1/2/2005. My Bank A/c (other than Individuals) was opened on 9/6/2005 and my Demat A/c was opened on 1/12/2005 in the same Bank. In the letter dated 30/9/2010, the Bank confirmed that it filled in its own way my new Bank A/c number on the POA which was notarised on 1/2/2005, committing Forgery on the said POA. When I informed about all wrong doings that the Bank did the Bank replied me in July, 2011 that why I did not inform the Bank at early stage and according to them nothing wrong has happened.
5) When I informed to the Depository, they followed the ready made standard procedures and asked the Bank to send it 1) Copy of POA that allowed POA holder to transfer the shares and 2) copies of Delivery Instruction Slips (DIS) that allowed the Bank to carry out transactions. the Depository justified all wrong doings of the Bank and covered up the bank by diluting the matter informing me to go to Police or go to the Arbitration of Stock Exchange. I again informed the Depository that When POA is invalid/unauthorised/illegal/forged, when all 3 POA holders are fraud/unauthorised/illegal and when all the DIS were invalid and unauthorised how can you justify all wrong doings it did not reply me.
the same case is with my wife also. In both the cases amount involved is big. At present we are in very miserable position.
I want advise from the Experts that what should I do in the criminal cases. After fighting with Banking Ombudsman, they informed me that I can file Complaint. I want to know whether can I file my case in Consumer Court for my claim? whether should I claim from the Bank or Broker?
I will be obliged if you also email me at
hitendrahshah30@gmail.com
Thank you very much.
God may bless all of you.
ajay sethi
(Expert) 09 October 2011
rpeated query already answered
Raj Kumar Makkad
(Expert) 09 October 2011
repeated query as saying of other experts.
Mr. Hitendra Shah
(Querist) 10 October 2011
Sir, the correspondences with the bank happened till July,2011. The last unauthorized transfer of Shares and Money from the Bank and Demat accounts were happened in the year 2007.
I would like to know that for my claim from the Broker and Bank can I go to Consumer Court?
