Rajalaxmi Dei
18 July 2008 at 08:56
I trade in the stock market through a broker. The broker has allowed me margin trading facility aginst my existing shares. I bought some future contracts in January 2008. As the market moved against me I kept on meeting the Marked to Market(MTM) losses by selling some shares from my portfolio. On 21/22.01.2008 there was sharp fall in the stock market. Hence, instead of selling shares from my portfolio, I paid the MTM losses by way of cheque to my broker 22.01.2008 morning. But the broker squared off my future positions at heavy loss to me; and to adjust this loss he sold off all the shares in my portfolio thereby causing me a loss of about Rs.8-10 lacs.
The point is whether the broker has the right to square off my positions without my knowledge when I have already paid my dues (by cheque). I consider this unethical/unlawful and lodged my protest with all concerned ( SEBI, NSE, Broker). NSE have not found anything wrong in the action of the broker and have advised me to go for Arbitration if I am not satisfied with their findings.
I seek advice from any/all learned friends on my future course of action.
KamalNayanSaxena
17 July 2008 at 23:14
I understand that recently a judgement is delivered by Supreme Court holding that complainant is not required to appear in the court if vakalatnama has been filed on his behalf.
Pl. provide the said citation.
SANJAY
17 July 2008 at 11:54
Please tell me what are the formalities to be completed for setting up of firm in CHENNAI.Wat about the stamp papers and value there on
ravikanth
16 July 2008 at 15:56
1 International Bank opened a saving bank account in the name of Mr. R Singh and at the time of opening of the account handed over to him the copy of rules and regulations for conducting the account which also provided that the cheque book should be kept under lock and key and for loss if any arising from not complying with requirement, bank will not be responsible. The customer kept the cheque book in drawer and one of his office colleagues took off one cheque leave and by forging the signatures of Mr. R Singh withdrew the money from the bank. The customer claims the refund of the money:
can u tell me in which sections of
Banking regulation act, indian contract act, negotiable inwstruments act, will apply..........................?
ravikanth
16 July 2008 at 15:56
1 International Bank opened a saving bank account in the name of Mr. R Singh and at the time of opening of the account handed over to him the copy of rules and regulations for conducting the account which also provided that the cheque book should be kept under lock and key and for loss if any arising from not complying with requirement, bank will not be responsible. The customer kept the cheque book in drawer and one of his office colleagues took off one cheque leave and by forging the signatures of Mr. R Singh withdrew the money from the bank. The customer claims the refund of the money:
can u tell me in which sections of
Banking regulation act, indian contract act, negotiable inwstruments act, will apply..........................?
bm
15 July 2008 at 16:05
Respected sir\madam
kindly provide me the details regarding registration of partnership firm
what are the forms required for registration , where can i register the firm in bangalore, is there any registration fee.
please help me
regards
bm
bm
14 July 2008 at 15:13
dear sir
please help me
what is the procedure to be followed while registering the limited liability partnership firm
thanks
Bhaskar Lawyer
14 July 2008 at 11:44
Inspite of stop payment instructions of the customer, his banker paid the amount covered by cheque to payee.
Can the instrument(cheque) is invalid for unauthorised payment ?
can the bank can recover the amount from the payee for the payment paid by mistake inspite of stop payment instructions ?
What is the liability of the bank towards its customer for payment of cheque in spite of specific mandate of the drawer of the cheque ?
What is the best recourse for the bank if the drawer is insisting for restoration of amount paid under the cheque ?
Please answer the queries with case laws, if possible.
sahil Anand
13 July 2008 at 21:43
Hi..
I would like to take an expert advice before I take any legal help.
I was working with an "ABC" Multinational Co. I served the organization for abt 7.5 Yrs. I resigned from the services & served the notice period for two months. As per my promotion letter I had to serve three months notice but I was only able to serve two months of notice. I had over 32 days pending leaves & i was of the opinion that my 32 days pending leave will cover my remaining notice period of 30 days. I requested the management to relieve me from the services but the management wanted me to serve complete three months notice. They were not willing to accept any payment in lieu of notice period. So, I served two months notice and then went on leave for remaining one month. I then joined the other organization "XYZ" thinking that the previous organization will adjust my 32 days pending leave in the remaining notice period which never happened. And the previous organization terminated my services on the ground of dual employment. I am asking the previous organization to give me the experience letter since I had worked with the same for over 7.5 Yrs. So should I take legal help in getting an experience letter for myself & secondly is there termination valid.....?????
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Can a pvt. ltd not being registered as a financial institution shall lies interest or give finance facility
Dear All,
A private limited, mainly in sales of hardware and software products. The company whether not being registered as a financial institution grants credit facility by way of deffered payment in monthly installment basis, which includes interest on the balance consideration amount. Whether the company can do such kind of thinks? and What legal consequences may be arised thereof?