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Unauthorized trading of 60000 rs -Complaint against SMC Global Securities, kolkata

This is a discussion on Unauthorized trading of 60000 rs -Complaint against SMC Global Securities, kolkata within the Stock Market forums, part of the Investment category; Complaint against SMC Global Securities, South City branch,Kolkata - Unauthorised trading from my account - demand for compensation Complaint against ...

  1. 05-22-2010, 11:08 AM #1
    pritam_kundu
    pritam_kundu is offline Junior Member
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    Exclamation Unauthorized trading of 60000 rs -Complaint against SMC Global Securities, kolkata

    Complaint against SMC Global Securities, South City branch,Kolkata - Unauthorised trading from my account - demand for compensation

    Complaint against SMC Global Securities,South City branch,Kolkata - Unauthorised trading from my account - demand for compensation for mental harrassment and non-fullfillment of promises

    This is to inform you that I have opened an account with SMC Global Securities Ltd (Prince anwar shah road branch Kolakta-700068) last month (November 2009) The account details are
    UCC Code: NMV0062 (trading id)


    I have given Rs 5500 as account opening check.
    The contact person was Satish Kumar Dubey (Emp id 2907 of SMC Global Securties ltd, Kolkata). He has authorized Mr Amit Chatterjee to doing trading on behalf of Mr. Satish Kumar Dubey.
    I have given 100% authority to Mr. Pritam Kumar Kundu (my husband) to trade in my account.

    Till Dec 08,2009 Trading was done with confirmation. Suddenly from 9 dec 2009 SMC stared Unauthorized trading on Nifty Options & they took 1000 Quantity of Texmaco shares without my confirmation. I came to know when trading confirmation call was done. I talked to Amit chatterjee on this regard and he replied that he will compensate any losses if anything happens. I asked him not to trade from tomorrow onwards and if the losses are there already please reimburse it to me. He said i took certain positions which i will square off and make you profit. Since they took a huge position on my account they continued trading every day after dec 09. I aked to stop and let me know the ac position . They continued to tell me that it is fine and i will make profits. Suddenly after Dec23 mr Amit chatterjee was absconded and was not reachable. When i asked about my ledger position SMC told that there are Losses and they cannot reach amit chatterjee who is done the trading. Mr Satish Kumar dubey was well known about this incident. They sold Texmaco 900 quantities in betweeen to clear the huge poition. Then Suddenly Mr Satish Kumar Dubey introduced me To arindam das and tell me that he will look into the matter. Mr AMit chatterjee was absconded from then and was not reachable. SMC asked me to lodge a formal written comlain against him. I went to Zonal head for taking neccessary action.But they did nothing. After few days Mr satish Kumar Dubey was also absconded. So I lost around 50 thhousand of ruppes. When i asked SMC to given back me the money they told that they have no evidence against Amit chatterjee. They told me that they will take legal action against both of them. But nothing has happened.

    After this incident i wrote a mail to SMC to not do any trading without my email confirmation. But in 30th march 2010, SMC global securities again done unauthorized trading on my account. This time they have acknoledged it as unautjhorized trading and wrote me a mail to compensate the amount (around 10000 thousand rs)within 15 april 2010.But after my constant follow up i did not recive the money till date. Mr arindam das now is absconed from the SMC Global, south city branch and the manager Subrata tarfadar is now saying that it was arindam das who promised u to gibve back money. Since he is absconded we will take legal action against him. I am in a deep mental stress because of all this incidents.So my charges gainst global securities are:


    1. Doing Unauthorized trading ( Nifty Options trading after December 08 2009 till december 23) on my account (NMV0062) (without informaing me about the Quantity and Ledger balance)

    2. Doing Unauthorized trading on Delivery based trading on Texmaco Ltd (1000 Quantity) Shares on my account (NMV0062)(without informaing me anything)

    3. When I asked for repayment of the Loss smc denied

    4. Doing unauthorized trading on march 30 2010, on nifty options again. Acknoledged as unauthorized trading and promised me to compensate the amount within 15 april 2010. But they did not do that.

    Thus, i demand the following:

    1. I should be compensated the amount around 60000 rs totally by SMC global securties

    2. I demand complensation for mental harrassment for the behaviour of SMC Global employees .


    I expect an immediate and positive action from your side in order to protect the consumer's interest.

    Regards
    Paramita Kundu
    SMC A/c No: NMV0062
    My contact No: 9088340367

    Address of SMC Office:

    SMC Global securities, South City branch, Kolkata
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  2. 04-07-2011, 06:11 PM #2
    Unregistered Guest

    Default Complaint against SMC Global Securities

    I am Yashasvi Pandey, and I will say that SMC is a company which is just not professional. I will advice all people to never fall prey to this company. These people do unauthorized trading and give you losses. And then when you meet someone senior (I have such experience), then they will tell that you are a dishonest person and a liar and that you have no right to claim anything. They also say clearly that they are just not responsible for the wrong doings of their employees. A senior director of SMC, who sits in Delhi Head Office has said this thing to me. (Please contact to know the person's name).
    2 years ago I was cheated with INR 95000 and every person, from Branch Manager to Director level never listened to me, instead questioned me of my dignity. Then a senior director listened to me and he understood what had happened. He waived off approx. INR 47500 and asked me to pay the company remaining amount. He promised that he will take care of the matter and will give my money back by trading ways as he has an in depth knowledge, however nothing of that sort was done ever.
    And now recently I was again debited INR 38000 about which I have no clue and then these people withour informing me sold my L&T shares and took their money. This also I came to know very later. This company's sole purpose is to cheat people and snatch money from them by hook or by crook.

    Email ID: yashasvi@consigliori.org
    Please mail to know more in details with proofs.
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  3. 09-07-2011, 04:23 PM #3
    vkg77
    vkg77 is offline Junior Member
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    Default Smc trade india is swindling money off customers

    We had opened a demat account in 2007 as per the recommendations from SMC sales team. However, the account was not even used once since its opening. The account was never operated in any mode (offline or online). Moreover, there was no request from our side given to SMC or any of its agents to renew the account. We paid Rs. 500 for opening the account.

    Now all of a sudden, SMC trade sends us a letter demanding us to pay a sum of Rs. 571.50. Totally unethical system is being followed at SMC or a money swindling business is being run by them. Firstly, they do not send any intimation regarding closure of account which has been dormant for 3 years, then without no client consent they automatically assume that he/she wants to continue the services when the service has not even been used once (even the login password envelop is lying unopened).

    It should be SMC who should be returning the sum of Rs. 500 that was taken as refundable deposit at the time of opening of account and not the other way round. But they kept on sending us SMS and calls to harass us. Finally, we had to cough up Rs. 700 (adding interest also) more to stop their nuisance.

    So SMC has actually aken Rs. 1200 from us for ZERO services taken (not even one login made on their website, not even one advice/recommendation taken for investment).

    I hope that through this forum, the activities of this company will be highlighted and many other customers shall be spared of the harrassment faced by us.

    SMC is a Fraud and money swindler.
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