Dear All,
I have reported a matter to SEBI, NSE, Economic offence wing and the DCP West regarding a case where i have been cheated by the Broker by means of fraud committed by - illegal trading, cheating, forgery and creation and suppling of false documents causing loss of entire stocks in my account.
I want to take my case of NSE arbiteration but i am shocked to see the awards by the pannel of the arbitrators in NSE. I have seen all the arbitrators awards on website in 2007, 2008, 2009 and 2010. It appears that the the arbitration pannel is sitting to award the judgements in favour of the Brokers. In all the judgements it is seen that majority of the investors are complaining of the illegal trading but i have never came across a single matter in which the amount is awarded to the investor. Investors once bitten by the award has never reverted back to NSE Arbitration. On the contrary the brokers have repeatedly complaint against the investors in the arbitration as they always get the award in their favour. Very rare instance are there where investors win. It is also observed that the award is also given on the basis of asumptions and not concrete proof and that too in favour of Broker. I know despite of having many solid concrete proofs i am sure that it would be difficult to win a case here and due to arbitration clause i can not avoid arbitration also. Now i understand why every broker puts the arbitration clause in the agreement. My case strengthens only when it is established that i was given fradulent documents in order to hide the facts from me and arbitration is not empowered to see the criminal offence involved in it.
Despite of the fraud and forgery i have not been able to lodge a criminal FIR in police or EOW till date and they say it is to be investigated by SEBI and SEBI has marked it to NSE who say that we can only see the following of the guidelines and not the Fraud or cheating that has to be addressed to Police. I have not got a proper reply even by the RTI. I am being thrown into a vicious circle where no one feels themself accountable.
Can anyone Guide / help me in this context.
Sachin
9810933322
