Issues with Unicon Securities

[finch]

I want to add 10 lacs Rs in fixed deposit means 7500 Rs / month. 0.75% in FD. If 10 lac is all a person has and he is a trader. If that money is taken and NSE gives back after 2 years. It means he lost 7500 *24 = 180000 Rs plus his trading job for 2 years lost as he has no capital 2 trade for 2 years

i lost all capital in march and missed all best opportunities around that period when markets on steroids...i m sure other investors also missed that...one understand nse cant compensate for all that but at least they should expedite the process of recovery of basic capital....as of now they are not informing also whether one claim is under process or what happening...

 

[lemondew]

Finch,
I want to know whether the money blocked through unicorn is

1. shares in a demat account in your name or
2. margin money in your trading account for trading or all are blocked

i lost all capital in march and missed all best opportunities around that period when markets on steroids...i m sure other investors also missed that...one understand nse cant compensate for all that but at least they should expedite the process of recovery of basic capital....as of now they are not informing also whether one claim is under process or what happening...

 

[tradedatrend]

I know that but unicon used to send only daily trade confirmation mails and contract notes you could go to the website and download any time...whenever i had any issue i used to log in to the site and download but now website itself not working then what to do....no one anticipate anything like this...but why should screenshot from broker website not be accepted....if u read order of sebi against unicon they had said that unicon didnt cooperate in furnishing details...if they are not giving anything to sebi how nse expect investors to get from broker all these details....the point is investors losing money for no fault of their...effort should be made to help them...its all very well to say why u didnt save contract notes and all but if there is alternative proof that should be considered ....

A little disagreement here, even UC used to send contract notes mail, though CN of those duffers were very idiotic and and would require to change many settings in internet explorer

 

[finch]

Finch,
I want to know whether the money blocked through unicorn is

1. shares in a demat account in your name or
2. margin money in your trading account for trading or all are blocked

margin money....

anyway i have finally managed to locate someone in nse dealing with this and the person said all claims will be looked at only after the deadline for submitting claims is over which is 10 December.....all other unicon investors kindly send ur claim to nse before 10 December....and they dont send any acknowledgement by email or letter that ur claim reached them so no point in waiting for one....in my case i personally dropped it at their bandra kurla office and got stamp on a xerox copy of the claim document...atleast it shows date on which i submitted the claim..

 

[finch]

A little disagreement here, even UC used to send contract notes mail, though CN of those duffers were very idiotic and and would require to change many settings in internet explorer

i guess u may have requested them or their procedure must be arbitrary because i have my account with them since 2012 and always received only daily trade confirmations...anyway as i said whenevr i wanted i cud log in the site and check contract note if i found something amiss so i never requested them to send me on email...now it look like such big mistake anyway lesson learnt for next time.....the silver lining is since i trade only in derivatives after every trade next day i used to get a daily margin statement on email that also very arbitrary looking ...in my case it not showing exact amount cos of the margin blocked for a trade that day but i can use it to show approximate balance if NSE again create issue of absence of contract notes.....as i said its basically upto NSE to rigidly follow all rules and disallow genuine claim or consider alternate proof and try to help investors

 

[lemondew]

What about shares in your demat account. Could that be transferred it to other broker or that too is blocked for now.

margin money....

anyway i have finally managed to locate someone in nse dealing with this and the person said all claims will be looked at only after the deadline for submitting claims is over which is 10 December.....all other unicon investors kindly send ur claim to nse before 10 December....and they dont send any acknowledgement by email or letter that ur claim reached them so no point in waiting for one....in my case i personally dropped it at their bandra kurla office and got stamp on a xerox copy of the claim document...atleast it shows date on which i submitted the claim..

 

[tradedatrend]

i guess u may have requested them or their procedure must be arbitrary because i have my account with them since 2012 and always received only daily trade confirmations...anyway as i said whenevr i wanted i cud log in the site and check contract note if i found something amiss so i never requested them to send me on email...now it look like such big mistake anyway lesson learnt for next time.....the silver lining is since i trade only in derivatives after every trade next day i used to get a daily margin statement on email that also very arbitrary looking ...in my case it not showing exact amount cos of the margin blocked for a trade that day but i can use it to show approximate balance if NSE again create issue of absence of contract notes.....as i said its basically upto NSE to rigidly follow all rules and disallow genuine claim or consider alternate proof and try to help investors

You have one more proof, show your bank statement before NSE, through which you have transferred money to UC

 

[tradedatrend]

its basically upto NSE to rigidly follow all rules and disallow genuine claim or consider alternate proof and try to help investors

Let us not blame entirely to NSE, as if NSE allow everybody to show himself a victim of UC without any substantial proof, then NSE IPF would be evaporated in a single day AND GENUINE CLIENTS WONT BE GETTING ANYTHING

In most of the cases, burden is on the client's shoulder to prove, i guess UC's CP branch is somewhat still running, if you are delhi based, visit there and ask for old CN, in the pretext of income tax filing!

 

[finch]

What about shares in your demat account. Could that be transferred it to other broker or that too is blocked for now.

i dont have shares in demat account...i trade only in derivatives....but for other investors what i have heard from the unicon employees is that the shares were never credited to their demat account so question of transferring to another demat doesnt arise...

 

[finch]

You have one more proof, show your bank statement before NSE, through which you have transferred money to UC

bank statement is there to show deposits and withdrawals but not accumulated profits...