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Vinod Kumar Aggarwal (Executive)     27 April 2015

Stock trading advisory company not refunding service charges

A stock trading advisory company is collecting huge service fee (Rs.5.25 lakh) from investors for an assured profit of about  31.50 lakh. They fraudulently extract money slowly and slowly from clients starting from lower package and then transferring into higher and higher packages, finally in their highest package as mentioned above.They also enter into MOU with clients promising the said assured profit. But actually, they incur losses as per demat account of broker whom they give calls on behalf of customer. But as per company's records, they claim to have earned profits. Thereafter, they also refuse to return service charge to customer as they have no refund policy. Does a case lie against the company under criminal or civil proceedings and how and where to proceed.



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 2 Replies

Kapil Chandna (Lawyer at Supreme Court of India)     27 April 2015

Sir, Its a clear case of fraud, CA who is showing the loss will also be help responsible as a conspirator ..... Criminal is better .... Warm Regards Kapil Chandna Adv 9899011450

abhay dholakiya ( lawyer)     10 June 2015

you are advise to make a complaint to SEBI on scores.gov.in or sebi@sebi.gov.in against said investment advisor with proper documents and proof


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