Angel broking sold more than what i have

Discussion in 'Investors Grievances' started by kirtibas, Oct 17, 2009.

  1. kirtibas

    kirtibas Member

    Joined:
    Apr 1, 2009
    Messages:
    50
    Likes Received:
    75
    Trophy Points:
    18
    Location:
    kolkata
    dear all members
    i really need a help

    I have an online account with angel broking pvt. ltd. Prince Anwar shah Road branch Kolkata.
    My DP ID is (CDSL ********) / trading client id: KLPA***, using angel pda and angel diet as trading platform.

    From few days I am having debit balance. Thats why Mr Rajesh (R.M) of this branch used to sell my holding from his terminal with or without my concern. Once he sold 200 shares of TATASTEEL trading date 12/10/09 without my concern, I informed to their branches but no action had taken till now. And that can be verify by phone conversation recording.

    I am not getting any proper response from there Kolkata branches, (guys are very rude in behavior to most of the online clients becoz dont have to face them)
    Yesterday on 16th Sep 2009 like every day he was selling my holding from his terminal. The problem arise here ,when I have 100 shares of 3I INFOTECH LTD, But he sold 200 shares from his terminal under my client id. I am making huge loss by short auction. I am attaching the contact note along with this mail. When I called up Mr Rajesh for clarification he completely denied the fact he did it.

    i already send mail with attach contact notes to
    sebi@sebi.gov.in,
    sebiero@sebi.gov.in
    ignse@nse.co.in
    feedback@angeltrade.com



    pls suggest me and guide me

    regards
    kirtibas
     
    math likes this.
  2. kirtibas

    kirtibas Member

    Joined:
    Apr 1, 2009
    Messages:
    50
    Likes Received:
    75
    Trophy Points:
    18
    Location:
    kolkata
    i want to know which category/ type to select for this kind of grievance
    http://www.sebi.gov.in/Complaint.html

    Type-I Refund Order/ Allotment Advise.
    Type-II Non-receipt of dividend.
    Type-III Non-receipt of share certificates after transfer.
    Type-IV Debentures.
    Type-V Non-receipt of letter of offer for rights issue.
    Type-VI Collective Investment Schemes
    Type-VII Mutual Funds/ Venture Capital Funds/ Foreign Venture Capital Investors/ Foreign Institutional Investors/ Portfolio Managers, Custodians

    Type-VIII Brokers/ Securities Lending Intermediaries/ Merchant Bankers/ Registrars and Transfer Agents/ Debenture Trustees/ Bankers to Issue/ Underwriters/ Credit Rating Agencies/ Depository Participants

    Type-IX Securities Exchanges/ Clearing and Settlement Organizations/ Depositories
    Type-X Derivative Trading
    Type-XI Corporate Governance/ Corporate Restructuring/ Substantial Acquisition and Takeovers/ Buyback / Delisting / Compliance With Listing Conditions
     
  3. SavantGarde

    SavantGarde Well-Known Member

    Joined:
    Oct 25, 2006
    Messages:
    12,314
    Likes Received:
    52,002
    Trophy Points:
    113
    Location:
    India
    Type-VIII Brokers/ Securities Lending Intermediaries/ Merchant Bankers/ Registrars and Transfer Agents/ Debenture Trustees/ Bankers to Issue/ Underwriters/ Credit Rating Agencies/ Depository Participants

    SavantGarde


     
    SCION, aid, bunny and 2 others like this.
  4. kirtibas

    kirtibas Member

    Joined:
    Apr 1, 2009
    Messages:
    50
    Likes Received:
    75
    Trophy Points:
    18
    Location:
    kolkata
    thank u very much sir,
    sir i want to know what are the documents / proofs i have to produce to establish my complain, against such activity.
    can ip address used for verification?

    thanks
    kirtibas
     
    SavantGarde likes this.
  5. MurAtt

    MurAtt Well-Known Member

    Joined:
    Nov 28, 2008
    Messages:
    4,413
    Likes Received:
    8,968
    Trophy Points:
    113
    Location:
    Kolkata
    Well, I just could not stop myself and called my broker.

    This is what he told me : Its a win-win situation. Tell the RM to prove that you told him to sell the scrips. They should have a phone recording of the order you have placed over phone else its illegal and the RM and/or his company is liable. Also, the 100 shares of a particular scrip being sold etc is never done in case of debit balance. It is always position sizing i.e. if you have 100 TISCO, 200 UCO Bank, 25 Telco, 10 Infy etc THEN part holdings of EACH scrip will be sold by the SYTEM through AUTOMATIC TRADE/ORDER on the server and NOT PHYSICALLY BY RM.

    ALSO you can go to the branch and speak to the Branch Manager AND RECORD THE CONVERSATION TOO.(which may or may not help as such)

    Also more details are required. Have you signed a copy of the C/N given to you by the broker as acceptance? Have u gotten the C/N within 24hrs of the EOD of trade?
     
    kirtibas likes this.
  6. MurAtt

    MurAtt Well-Known Member

    Joined:
    Nov 28, 2008
    Messages:
    4,413
    Likes Received:
    8,968
    Trophy Points:
    113
    Location:
    Kolkata
    Just one more thing .... (Better to be safe than to be sorry i.e.)

    Be a little prudent and do not jump into it as I have said it. Get another opinion (from a friend or a fr of a friend etc) and then do the needful coz if something goes wrong i.e. I am mis-informed then you will be more on backfoot than u already are ...

    Just a precaution ...

    :)
     
    kirtibas likes this.

  7. kirtibas

    kirtibas Member

    Joined:
    Apr 1, 2009
    Messages:
    50
    Likes Received:
    75
    Trophy Points:
    18
    Location:
    kolkata
    thanks u very much.
    i got c/n @ y'day nite (not signed) its attachment via e-mail
    phone conversation is one good prove,

    how to show that RM of this branch modify my bids physically from his terminal?
    how he sold 200 shares since i had only 100 shares in my holding?

    funny thing about this prince anwasha rd. branch- branch manages is very new may be 15days -1month.
    that RM acting like branch manager (bcoz he thinks new branch manager dont know anything about capital mkt since he's from insurance background)

    i already talk to md masud alam (branch manager) he try to convince me.
    but RM (Rajesh Chakroborty) hes behavior is very very rude last nite when i called up he used 1 slang also.

    so i want to raise my voice against him to topmost lavel

    thanks and regards
    kirtibas
     
    MurAtt likes this.
  8. Mangafreakz

    Mangafreakz Well-Known Member

    Joined:
    Apr 6, 2009
    Messages:
    537
    Likes Received:
    630
    Trophy Points:
    93
    What about complaining to Angel broking main office , did they replied ?
     
    kirtibas and MurAtt like this.
  9. Placebo

    Placebo Well-Known Member

    Joined:
    Dec 15, 2008
    Messages:
    256
    Likes Received:
    423
    Trophy Points:
    63
    I have an account with angel broking in pune.I'll speak to the RM and find out if you can do anything about the situation in which you are in. And if your RM is acting smart and using abusive language then give it back to him in his face. Don't take sh** from such manipulative people.

    Cheers
     
    kirtibas and MurAtt like this.
  10. SavantGarde

    SavantGarde Well-Known Member

    Joined:
    Oct 25, 2006
    Messages:
    12,314
    Likes Received:
    52,002
    Trophy Points:
    113
    Location:
    India
    Hi Kirtibas,

    a) Burden Of Proving That You Gave The Sell Order Is Brokers.
    b) Even Incase Of Debit Balance, One Has To Be Informed 2 Days Before Incase Of Selling RMS Because Of Debit.

    So All The Proving Has To Be Done By The Broker Not You.

    Looks Like Brokers System Of RMS Is Not As Per SEBI Guidelines Or Else Short Sell Wouldn't Have Happened.

    If They Are Abusive In Their Communication, I Suggest You Recod It...Next Time.


    Happy & Safer Investing

    SavantGarde

     
    SCION, kirtibas and MurAtt like this.
Loading...

Share This Page