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Ajay Sharma (analyst)     10 November 2021

My demat account managed by my friend

Hi Team 

I am a private employee I have shared my demat account user id and PW to my friend to manage my money, it's has been decided that for every 10% I will pay him 1.5% and not for the losses, he said that he will make huge profit but my stocks are going down due to which we have an argument and he said that he is now not going to manage my money he made false promises to me , is there any legal way so that I can recover my money(loss money)from him...we have not sign any contract, it was just an mutual understanding.

Pls advise.

 

 

 

 

 

 

 

 



 2 Replies

Shashi Dhara   10 November 2021

No you cannot take any legal action against him,be steady for some time  stocks rate will rise ,don't blame your friend ,it is not major issue .

Adv.Pramod (Lawyer)     10 November 2021

No you cannot. There is no contract between you and the person.


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