legal action against share traders/brokers

virender singh (Querist) 06 June 2011 This query is : Resolved
Hi,
Recently i wanted to start short term share trading thro a company with web named www.bestanalysis.co.in as thier sms regularly showed profit of Rs1200 to even 2000/=daily on investment of Rs50000/=and they said to charge Rs500/= on profit making calls only. But when searched about their complaints from investers ,it was found only -ve ie after investment ,they dont bother to even receive calls,in short it seems they are making fool of our people. How we can take legal action against such companies and what sort of action we can take and do our law punish them and what is the punishment

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virender singh (Querist) 06 June 2011
Before starting share trading, i want to know what necessary information do we require about such tradres/brokers who claim to help us in making money thro their advise.

Jitendar Kumar gupta (Expert) 06 June 2011
make complaint to SEBI and your problem shall be sorted out

Bovan Cherian Varkey (Expert) 08 June 2011
Dear Mr. Virendar,

You file a case for cheating before the Superintendent of Police where the so called broker has office. The police after the investigation finds that the broker is cheating will book them under IPC and proceeds with a criminal case.

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