Complaint against broker: I am in Despair .Pls guide me
This query is : Resolved
SUBHASIS PANDA
(Querist)
26 January 2008
Dear Sir
I am an investor in F&O. Recently during crash in Share market on 21st January 2008, the broker had sent a mail to the branch office (Where my account is existing) to liquidate the stocks from their own side of those clients where funds in the account of client are not sufficient. This was told well in advance to me and I was also intimated by my branch office that no action is required by them as they themselves shall liquidate the stock and I need not worry. They had sent the emails to the branch office to do. But to my surprise they did not liquidate and the act was done on the very next day when the value of stocks had depreciated a lot. So how can I register the complaint agaist the broker who defaulted for what was told to me. I suffered irrepairable loss. I am in total despair.Please tell me if I can register the complaint and how can I go with that? What should be the first step? I can get the copy of the mail sent to Branch office for intimation of liquidation from their side. Kindly help me.
I am an investor in F&O. Recently during crash in Share market on 21st January 2008, the broker had sent a mail to the branch office (Where my account is existing) to liquidate the stocks from their own side of those clients where funds in the account of client are not sufficient. This was told well in advance to me and I was also intimated by my branch office that no action is required by them as they themselves shall liquidate the stock and I need not worry. They had sent the emails to the branch office to do. But to my surprise they did not liquidate and the act was done on the very next day when the value of stocks had depreciated a lot. So how can I register the complaint agaist the broker who defaulted for what was told to me. I suffered irrepairable loss. I am in total despair.Please tell me if I can register the complaint and how can I go with that? What should be the first step? I can get the copy of the mail sent to Branch office for intimation of liquidation from their side. Kindly help me.
27 January 2008
You should file the complaint at BSE itself and take this broker to the newspapers as it will also protect others from being duped.
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