Dear Sir / Madam
I had invested 9.75 lacs in a investment firm in 2007 and after more than 3 and half years my investment has eroded down to 3.5 lacs.
Upon investigation I found that a lot of speculative trading was done in my account. I asked all the tradings to be stopped at once and all stocks transferred to my demat account. The person operating my account says that I gave hime the permission to do this kind of trading but the truth is that I have not asked hime to do so.
I filed a complaint with the firm's higher authorities, they are still working on it for the last one and half month.
Over this period of time this firm has charged me a brokerage of more than 2 lacs. I have asked for compensation and action to be taken against the person operating my account.
I was very patient and always hoping that when the markets were up the losses will be reduced but to my utter disbelief I found that when the market rose from 7000 levels to 17000 level there was little or no improvement in my holdings.
I m a mariner by profession and am out of India for most of the time.
Please advise
Regards


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