Dear Sir/Madam

This is to complain against my share broker company ( Bonanza Portfolio LTD.( Regd Office: 4353-4C,MADAN MOHAN STREET, ANSARI ROAD,DARYA GANJ,NEW DELHI-110002). that at the time of opening the new account in bonanza it has been commited me by R.M. that I would be having a facility to hold my nifty futures position till 10% of the actual margin in case of loss in any (buy or sell) particular trade. (for ex. i having Rs. 25000 in my demate A/C and i have sold one lot nifty at price of rs.4800, in that case nifty shows a surge till the price of rs. 5250 I can hold the position and it has been assured to me that same thing has been approved by the higher management of bonanza as well. I aggreed and switched my a/c to bonaza on this condition.

but this commitment went totally wrong when i had sold 4 lots nifty futures on 26th may 10 at an average price of around rs. 4852 of nifty futures. Till 31st of May nifty went up at around rs. 5080, but i was assured that i can hold the position as per the commitment made the company at the time opening the a/c, on same day around 3pm i got a call from bonanza (mr. kashif), that i have to cover 2 lots in loss and on the same price around Rs.5080, otherwise they will square of total position by 3:15 pm. Further, they tried to threat me if I doesn't go as per them bonaza will cover all the 4 lots nifty short earlier.
I tried to request/convince them that it has already been assured and commited to me that i can hold the position till i have at least 10% of the margin in my demate. But they never agreed on it and further saying that the R.M. who had commited to me has resigned from the company and it was a fake commitment done to me.
Ultimately, i had to cover 1 lot nifty future at rs. 5082 and booked the loss accordingle. Further, next day Nifty went down more that 125 points and shown a low around Rs 4940. Due to the frustration/deppretion a havent't covered the rest of remaining 3 lots nifty.
On 3rd june 10, due to the abovesaid circumstances created by bonaza co. made me felt cheated and harrassed by the fake commitment and assurity given by the bonaza co. and I covered rest of 3 lots nifty futures at rs. 5080 and booked total loss of around Rs. 45,000.

In the end I would request SEBI to intervene in the matter and help me to get back the money which I lost due the fake commitment made by the bonanza company as mentioned below:-
1. Loss of rs. 45,000
2. Advance Brokrage to be refunded back (around rs. 5000)
3. Any Compensation apart from the above mention points against being harrassed by the fake commitment of the company.

Thanking you in advance....

your;s faithfully,
Dheeraj Kumar
client It- DD9D45T55
Mobile-9953841451
someone2282@gmail.com

Have you any proof that support your statement.