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Amit Oza (Querist) 27 February 2015 This query is : Resolved
I am working with a sub-broker who deals in stock market. all of his clients are NRI (saudi, canada,us..etc).All the clients has given him power of attornet to him to ensure transacion take place smoothly. The owner had one NBFC company registred with SEBI, and many other companyies.
he misue the power of attorney and many time he has withdrawn money from client bank account to his personal account and also he has taken money from clients in liue of 18% interest. he initally pays interest for few months and then stop paying this is going since 3-4 years .Most of the clients are asking his money back but he refuse to take their call.
I want to know the following
1) can the NRI client can go to the respective embassy and lodge a complian

2)what are the other ways through which they can receive their money

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Guest (Expert) 27 February 2015
Please discuss your own problem, if any, with proper background history, not of others. When power of attorney is there, it is a personal and private matter between the principal and the attorney holder. They have to settle their issues mutually, if the principal feels that his POA is being misused.

However, if any NRI is not satisfied with his service or no response, the said NRI should post his own problem, as only specific problem has specific solution. General suggestions have no meaning for specific cases on legal point of view.