TO,
International Consumer Rights Protection Council

SUB: Complain against JM financial for wrong punching of DP ID in Coal India IPO


Please help me to recover my losses, Case details is given below

I had applied for Coal India IPO for 400 shares, As per basis of allotment every one who has applied for 400 shares has allotted 199 shares.

But my application was rejected saying that my DP id was wrongly written as 12042000 00002007 (Correct DP Id is 12042000 00001007).I had submitted application form with JM Financial Services Private Limited (Borivali Branch) on 21st Oct 2010. There is Mistake in punching the DP Id from JM financial end which can be proved from the attached copy of application form.

I have asked for reimbursement of loss from JM Financial Services Pvt. Ltd. but company is not providing the same.


Calculation of Loss

Selling price (on the basis of closing price as on 04-11-2010 i.e. date of listing) 342.55
Issue Price For Retail Individual (245- 5% discount) 232.75
Profit Per Share 109.8
No of Shares 199
Loss Amount 21850.2

Note: - I want losses along with Interest (from 04th November 2010 to the date of payment of losses)


Complainant Name & Address Person Replied from JM Financial
Nirav Mehta / Saroj Mehta Pradyumna Satpathy / Pramod Parmar
154- Parekh Nagar Sr. VP | Operations / Head Operations
S V Road JM Financial Services Pvt. Ltd
Kandivali-West 4th Floor, Palm Court, M- Wing,
Mumbai – 400067 Above ‘D’ Mart, Link Road
M no -09892262577 Malad (WEST),
E mail – mehta.nirav@kotak.com Mumbai-400 064
Phone +91 22 3087 7323, Mob: 09819911326
Fax +91 22 6725 0001
Email pradyumna.satpathy@jmfinancial.in


Regards
Nirav Mehta/Saroj Mehta