This complaint is in regards with wrong information being provided to me continously by branch manager and the broker assigned to me.

I would like to name three persons in this complaint due to which i loss 80% of my money invested.

1. Kushar Gupta (Janakpuri Branch Manager, Angel Broking, 09560003508)
2. Lakshay ( Broker assigned to me to do offline transactions, 09999112206)
3. Sanjeev Mehto (agent who opened my trading+demat account, 09971105248)

In december'10 i met sanjeev mehto who told me all the details before opening account. He clearly mentioned that i can hold on the margin money being provided by the broker as long as you can. You just have to pay the interest charges applicable on the amount which rounds nearl to 1.8% per month.

When i bought 1000 shares of UNITECH and 500 shares of KIRLOSKAR, after 2-3 days i got a call from Lakshay. He told me to reduce some position. I informed him that i was clearly told that i can hold on the position as long as i can till i pay the interest charges. But somehow he pressurized me to reduce position or demanded more money to be credited in broker's account. I asked him if i will sell all shares of UNITECH then will i again get a call from him side to do the same in future. He told me that now i you can hold on the position with no worries. I lost around 5000 in this transaction.

Then after some days i again got a call from Lakshay and Branch manager asking me to reduce position or give them some money. I again told them that last time i was assured that i will not get such demands from their side. Then Lakshay told me that if i will sell 300 shares of KIRLOSKAR and hold on with 200 shares then i will be in balanced position and i will not get such demands from them in future. Lakshay assures me to not take any tenson and i can hold on the position as long as i can with 200 shares. I just have to pay the interest charges. Then i suffered a loss of around Rs 8000.

Then i got a call from branch manager on 19th January,2010 at 9:50 am from 01149274500. He asked to reduce some position. At that time i told him that i would not reduce position this time because i am already paying the interest charges on holding the margin money. He agreed to that and told me hat i can continue with the curret position. After a while i got a call from Lakshay with same demands and he again ried to convince me to reduce some position and sell 100 shares.

At that i told him to wait because i would discuss this matter wth some sernior officials of Angel Broking because i had already suffered huge losses against there irrational demands. I told him that i need some time. Then i emailed to complaint departments of Angel Broking and reported the matter to them. At 3:05 pm on 19th Jan i got a call from Lakshay. When i told him that i have reported the matter to higher departments then he got annoyed and told me that i should not have reported to them. He told me that he is going to sell shares without my consent. He cut down the phone and sold all my shares. That was totally unacceptable on his part. He had no right to sell my hard owned money at his wish without my consent.

Then i took into loop all the concerned senior auhorities of Angel Broking and discussed the matter with them on email. I have attached the document of all the conversations done on email with them. After so many notifications to them i was not able to get any relief from them.

Please it's my kind request to you to look into the matter and give me justice. I have suffered huge loss because of the wrong information provided to me everytime. I they would have cleared me the picture at first sight only then i would have saved my hard owned money then only. Just because of their negligence and unjustified demands i was suffered so much.

My strongest proof of whole this case is the call details from branch manager made to me a 7503034203 from his landline number 01149274500 at 9:50 am on 19th January 2010. I had mentioned about this call detail in my emails and requested the concerned departments to investigate it thoroughly but they dint change their decision. In that call i was clearly told by branch manager to hold on the position and i told him that i would be paying the applicable interest charges.

Once again its my kind request to provide me justice and penalize the culprits. I know i am fighting this case against highly estabished renowned organisation but still i have hope to get justice because i have been cheated by the wrong commitments done to me.

If you need any more clarifications from my side i am ready to do so.

Thanking you in anticipation.

Regards,
Gaurav Chhabra
Gurgaon
7503034203
email-gc1133@gmail.com