Sale of stock using forged Power of Attorney
- Thread starter crmr
- Start date
Dear Aryan, sr 114, akhill.
I am very gratified to see the interest exhibited by members who have all applied their minds and came up with valuable suggestions.
You three are very particular that I name the Broker. There may be many more who are
silent but will also be wanting to know the name-just out of curiosity.
To all of you I have one humble request, in case you are all very serious about it and not asking for the name just out of a casual, passing curiosity.
The name is known to SEBI to whom I have sent copy of consumer court judgement. The judgement listed out all the infirmities in the forged POA and prosecuted the Broker with a fine of Rs 10,000 plus cost.
The broker first gave a sworn affidavit in the beginning of the trial along with which he submitted a copy of the Member- Client agreement to the court. There was no POA in the dossier as I never signed one. However towards the end of the trial he rushed in a forged POA on which Honorable court made series of adverse remarks. Let us call it POA1.
To SEBI the same Broker suppressed POA1 andproduced a different POA trying to do a bad job of rectifying the faults in POA1. Let us call it POA2.
Will any one give two POAs- to the same broker?
Inspite of such obvious fraud SEBI disposed my complaint without any comment on these fraudulent POAs.
Now my request to you all members who are genuinely keen to know the name of Broker is to make RTI application to SEBI and ask for the name. I have given all the details of the case. You can make your own draft and make an RTI application to SEBI. It will only cost you Rs 10/-. It will give you a lot of experience in using RTI which is good for you. You can post the copy of RTI here so that others in the Forum can follow your example.
I am sure SEBI will have to give out the name once it is asked under RTI act.
You can then put out the name here for the benefit of all. That way all brokers will get alerted.
You can also ask SEBI as to what action are they taking when such alarming facts are brought to its notice with full proof.
That is the least you should do to serve a good cause, if you are serious.
That way SEBI also will get alerted that public is outraged at the criminality
of Brokers which has been brought to the knowledge of SEBI with all documents duly submitted by me to them.
If you do not want to take this little trouble in the larger interest, I am sure you will
agree with me, I am justified in not giving out the name.
Regards
crmr
I am very gratified to see the interest exhibited by members who have all applied their minds and came up with valuable suggestions.
You three are very particular that I name the Broker. There may be many more who are
silent but will also be wanting to know the name-just out of curiosity.
To all of you I have one humble request, in case you are all very serious about it and not asking for the name just out of a casual, passing curiosity.
The name is known to SEBI to whom I have sent copy of consumer court judgement. The judgement listed out all the infirmities in the forged POA and prosecuted the Broker with a fine of Rs 10,000 plus cost.
The broker first gave a sworn affidavit in the beginning of the trial along with which he submitted a copy of the Member- Client agreement to the court. There was no POA in the dossier as I never signed one. However towards the end of the trial he rushed in a forged POA on which Honorable court made series of adverse remarks. Let us call it POA1.
To SEBI the same Broker suppressed POA1 andproduced a different POA trying to do a bad job of rectifying the faults in POA1. Let us call it POA2.
Will any one give two POAs- to the same broker?
Inspite of such obvious fraud SEBI disposed my complaint without any comment on these fraudulent POAs.
Now my request to you all members who are genuinely keen to know the name of Broker is to make RTI application to SEBI and ask for the name. I have given all the details of the case. You can make your own draft and make an RTI application to SEBI. It will only cost you Rs 10/-. It will give you a lot of experience in using RTI which is good for you. You can post the copy of RTI here so that others in the Forum can follow your example.
I am sure SEBI will have to give out the name once it is asked under RTI act.
You can then put out the name here for the benefit of all. That way all brokers will get alerted.
You can also ask SEBI as to what action are they taking when such alarming facts are brought to its notice with full proof.
That is the least you should do to serve a good cause, if you are serious.
That way SEBI also will get alerted that public is outraged at the criminality
of Brokers which has been brought to the knowledge of SEBI with all documents duly submitted by me to them.
If you do not want to take this little trouble in the larger interest, I am sure you will
agree with me, I am justified in not giving out the name.
Regards
crmr
Sending a RTI application by post to SEBI is no big deal, many of us can do that, but what do we query for?
No specifics of the case are given out in this thread. . .
Edit: Why don't you post a draft for the application and then we can modify it if needed and send it to SEBI by post along with a po of rs 10
No specifics of the case are given out in this thread. . .
Edit: Why don't you post a draft for the application and then we can modify it if needed and send it to SEBI by post along with a po of rs 10
Last edited:
Dear Aryan, sr 114, akhill.
I am very gratified to see the interest exhibited by members who have all applied their minds and came up with valuable suggestions.
You three are very particular that I name the Broker. There may be many more who are
silent but will also be wanting to know the name-just out of curiosity.
To all of you I have one humble request, in case you are all very serious about it and not asking for the name just out of a casual, passing curiosity.
The name is known to SEBI to whom I have sent copy of consumer court judgement. The judgement listed out all the infirmities in the forged POA and prosecuted the Broker with a fine of Rs 10,000 plus cost.
The broker first gave a sworn affidavit in the beginning of the trial along with which he submitted a copy of the Member- Client agreement to the court. There was no POA in the dossier as I never signed one. However towards the end of the trial he rushed in a forged POA on which Honorable court made series of adverse remarks. Let us call it POA1.
To SEBI the same Broker suppressed POA1 andproduced a different POA trying to do a bad job of rectifying the faults in POA1. Let us call it POA2.
Will any one give two POAs- to the same broker?
Inspite of such obvious fraud SEBI disposed my complaint without any comment on these fraudulent POAs.
Now my request to you all members who are genuinely keen to know the name of Broker is to make RTI application to SEBI and ask for the name. I have given all the details of the case. You can make your own draft and make an RTI application to SEBI. It will only cost you Rs 10/-. It will give you a lot of experience in using RTI which is good for you. You can post the copy of RTI here so that others in the Forum can follow your example.
I am sure SEBI will have to give out the name once it is asked under RTI act.
You can then put out the name here for the benefit of all. That way all brokers will get alerted.
You can also ask SEBI as to what action are they taking when such alarming facts are brought to its notice with full proof.
That is the least you should do to serve a good cause, if you are serious.
That way SEBI also will get alerted that public is outraged at the criminality
of Brokers which has been brought to the knowledge of SEBI with all documents duly submitted by me to them.
If you do not want to take this little trouble in the larger interest, I am sure you will
agree with me, I am justified in not giving out the name.
Regards
crmr
I am very gratified to see the interest exhibited by members who have all applied their minds and came up with valuable suggestions.
You three are very particular that I name the Broker. There may be many more who are
silent but will also be wanting to know the name-just out of curiosity.
To all of you I have one humble request, in case you are all very serious about it and not asking for the name just out of a casual, passing curiosity.
The name is known to SEBI to whom I have sent copy of consumer court judgement. The judgement listed out all the infirmities in the forged POA and prosecuted the Broker with a fine of Rs 10,000 plus cost.
The broker first gave a sworn affidavit in the beginning of the trial along with which he submitted a copy of the Member- Client agreement to the court. There was no POA in the dossier as I never signed one. However towards the end of the trial he rushed in a forged POA on which Honorable court made series of adverse remarks. Let us call it POA1.
To SEBI the same Broker suppressed POA1 andproduced a different POA trying to do a bad job of rectifying the faults in POA1. Let us call it POA2.
Will any one give two POAs- to the same broker?
Inspite of such obvious fraud SEBI disposed my complaint without any comment on these fraudulent POAs.
Now my request to you all members who are genuinely keen to know the name of Broker is to make RTI application to SEBI and ask for the name. I have given all the details of the case. You can make your own draft and make an RTI application to SEBI. It will only cost you Rs 10/-. It will give you a lot of experience in using RTI which is good for you. You can post the copy of RTI here so that others in the Forum can follow your example.
I am sure SEBI will have to give out the name once it is asked under RTI act.
You can then put out the name here for the benefit of all. That way all brokers will get alerted.
You can also ask SEBI as to what action are they taking when such alarming facts are brought to its notice with full proof.
That is the least you should do to serve a good cause, if you are serious.
That way SEBI also will get alerted that public is outraged at the criminality
of Brokers which has been brought to the knowledge of SEBI with all documents duly submitted by me to them.
If you do not want to take this little trouble in the larger interest, I am sure you will
agree with me, I am justified in not giving out the name.
Regards
crmr
u have already approached sebi, police, court.. it is not as if u are waiting for a compromise to be worked out between u and the broker..
if u expect people to take out time to respond to your queries, I believe it also becomes ur moral duty to name the broker so that another gullible investor/trader does not get cheated by the same broker .
furthar it may put some pressure on the broker to settle things with u, or atleast give a reply..
I do not understand how u are 'justified' in not naming the broker, if at all u have stated all the facts correctly.
regards
Dear Part Time Trader,
I am glad that you say RTI is no big deal. Let me see how soon you are sending.
I am surprised you say no specifics of my case is given. I have written 11 posts so far , I think, each a mile long! What more specifics you want ? Have you read them all carefully?
Any way here it is, what you asked for:
All that you ask SEBI is,Quote -Unquote
"I come to understand that there are Brokers {DP} who carry out unauthorised sale[ about which SEBI recenltly has given a directive] and when caught cover up by bogus Power Of Attorney which is neither as per POA act nor as per SEBI directives. I even here that some Brokers have produced not one but two fake POAs signed on same date for same purpose to cover up the fraudulent sales without authorisation. I understand that such a case has been brought to your notice recently.
1.How many such cases have come to your notice in the last five years and what action have you taken to safeguard investors interests in this regard?
2. Who are those brokers? "
I hope you know that you do not have to give in RTI application any reason why you are asking any information. For those who want to know about RTI, please go to You Tube.
There are excellent videos posted. Here is your chance to put in practice what you have learnt from those videos. This exercise will help you in the long run. Knowledge is Power.
If they say only one case [mine] has come to their notice, let them say what action they took.
If they say too many cases to list out, something is definitely wrong.
If they say no case has come to their notice , then they are lying.
Let me know the reply and we can deal with it accordingly.
I have given the draft in quotes above. Change it the way you want.
Let me know how many are sending and the copy if they can post for benefit of all.
That will be very educative for all, including me.
SEBI and errant brokers should know investors awareness is on increase. Good for all.
Good deterrent as well.
SEBI web site will give you the address to whom you should send.
We all have to wait for a month to hear from you.
No big deal!
Regards
crmr
I am glad that you say RTI is no big deal. Let me see how soon you are sending.
I am surprised you say no specifics of my case is given. I have written 11 posts so far , I think, each a mile long! What more specifics you want ? Have you read them all carefully?
Any way here it is, what you asked for:
All that you ask SEBI is,Quote -Unquote
"I come to understand that there are Brokers {DP} who carry out unauthorised sale[ about which SEBI recenltly has given a directive] and when caught cover up by bogus Power Of Attorney which is neither as per POA act nor as per SEBI directives. I even here that some Brokers have produced not one but two fake POAs signed on same date for same purpose to cover up the fraudulent sales without authorisation. I understand that such a case has been brought to your notice recently.
1.How many such cases have come to your notice in the last five years and what action have you taken to safeguard investors interests in this regard?
2. Who are those brokers? "
I hope you know that you do not have to give in RTI application any reason why you are asking any information. For those who want to know about RTI, please go to You Tube.
There are excellent videos posted. Here is your chance to put in practice what you have learnt from those videos. This exercise will help you in the long run. Knowledge is Power.
If they say only one case [mine] has come to their notice, let them say what action they took.
If they say too many cases to list out, something is definitely wrong.
If they say no case has come to their notice , then they are lying.
Let me know the reply and we can deal with it accordingly.
I have given the draft in quotes above. Change it the way you want.
Let me know how many are sending and the copy if they can post for benefit of all.
That will be very educative for all, including me.
SEBI and errant brokers should know investors awareness is on increase. Good for all.
Good deterrent as well.
SEBI web site will give you the address to whom you should send.
We all have to wait for a month to hear from you.
No big deal!
Regards
crmr
u write on a public forum seeking guidance where u have been conned by a broker.
u have already approached sebi, police, court.. it is not as if u are waiting for a compromise to be worked out between u and the broker..
if u expect people to take out time to respond to your queries, I believe it also becomes ur moral duty to name the broker so that another gullible investor/trader does not get cheated by the same broker .
furthar it may put some pressure on the broker to settle things with u, or atleast give a reply..
I do not understand how u are 'justified' in not naming the broker, if at all u have stated all the facts correctly.
regards
See how you have ended-"if at all u have stated all the facts correctly".
I am sure many will have same doubt, even if I tell broker name.
How will you believe that I have given the name correctly?
I am so happy I have not obliged such doubting Thomas's.
That is why I said let SEBI name the broker, if you care to find out, if you are so keen to find out for your good as well as for the good of others. Then you cannot tell SEBI- "if at all u have stated all the facts correctly". I hope your doubt does not extend to SEBI as well!
There is no compulsion. If you dont want to get from SEBI feel free to forget about it. Most people are good in preaching.
Having heard so much of my case, what may I ask is YOUR moral duty? If you dont want to help others by going to SEBI through RTI, just relax and forget about it, fully convinced that what all I wrote so far are just lies. I couldn't care less.
Either you are casual about the matter or serious. If you are serious, do something from your side too instead of just telling- if at all u have stated all the facts correctly.
Cheers!
Regards
crmr
Dear Part Time Trader,
I am glad that you say RTI is no big deal. Let me see how soon you are sending.
I am surprised you say no specifics of my case is given. I have written 11 posts so far , I think, each a mile long! What more specifics you want ? Have you read them all carefully?
Any way here it is, what you asked for:
All that you ask SEBI is,Quote -Unquote
"I come to understand that there are Brokers {DP} who carry out unauthorised sale[ about which SEBI recenltly has given a directive] and when caught cover up by bogus Power Of Attorney which is neither as per POA act nor as per SEBI directives. I even here that some Brokers have produced not one but two fake POAs signed on same date for same purpose to cover up the fraudulent sales without authorisation. I understand that such a case has been brought to your notice recently.
1.How many such cases have come to your notice in the last five years and what action have you taken to safeguard investors interests in this regard?
2. Who are those brokers? "
I hope you know that you do not have to give in RTI application any reason why you are asking any information. For those who want to know about RTI, please go to You Tube.
There are excellent videos posted. Here is your chance to put in practice what you have learnt from those videos. This exercise will help you in the long run. Knowledge is Power.
If they say only one case [mine] has come to their notice, let them say what action they took.
If they say too many cases to list out, something is definitely wrong.
If they say no case has come to their notice , then they are lying.
Let me know the reply and we can deal with it accordingly.
I have given the draft in quotes above. Change it the way you want.
Let me know how many are sending and the copy if they can post for benefit of all.
That will be very educative for all, including me.
SEBI and errant brokers should know investors awareness is on increase. Good for all.
Good deterrent as well.
SEBI web site will give you the address to whom you should send.
We all have to wait for a month to hear from you.
No big deal!
Regards
crmr
I am glad that you say RTI is no big deal. Let me see how soon you are sending.
I am surprised you say no specifics of my case is given. I have written 11 posts so far , I think, each a mile long! What more specifics you want ? Have you read them all carefully?
Any way here it is, what you asked for:
All that you ask SEBI is,Quote -Unquote
"I come to understand that there are Brokers {DP} who carry out unauthorised sale[ about which SEBI recenltly has given a directive] and when caught cover up by bogus Power Of Attorney which is neither as per POA act nor as per SEBI directives. I even here that some Brokers have produced not one but two fake POAs signed on same date for same purpose to cover up the fraudulent sales without authorisation. I understand that such a case has been brought to your notice recently.
1.How many such cases have come to your notice in the last five years and what action have you taken to safeguard investors interests in this regard?
2. Who are those brokers? "
I hope you know that you do not have to give in RTI application any reason why you are asking any information. For those who want to know about RTI, please go to You Tube.
There are excellent videos posted. Here is your chance to put in practice what you have learnt from those videos. This exercise will help you in the long run. Knowledge is Power.
If they say only one case [mine] has come to their notice, let them say what action they took.
If they say too many cases to list out, something is definitely wrong.
If they say no case has come to their notice , then they are lying.
Let me know the reply and we can deal with it accordingly.
I have given the draft in quotes above. Change it the way you want.
Let me know how many are sending and the copy if they can post for benefit of all.
That will be very educative for all, including me.
SEBI and errant brokers should know investors awareness is on increase. Good for all.
Good deterrent as well.
SEBI web site will give you the address to whom you should send.
We all have to wait for a month to hear from you.
No big deal!
Regards
crmr
what you have given is more of same, going round about everything without any specifics of your case.
If you really want some one to file a RTI application regarding your case, give the specifics like dates of transaction, dates of your communications with SEBI, any inward nos / complaint numbers/date, follow-up / reply dates and like
Dear anuragmunjal,
See how you have ended-"if at all u have stated all the facts correctly".
I am sure many will have same doubt, even if I tell broker name.
How will you believe that I have given the name correctly?
I am so happy I have not obliged such doubting Thomas's.
That is why I said let SEBI name the broker, if you care to find out, if you are so keen to find out for your good as well as for the good of others. Then you cannot tell SEBI- "if at all u have stated all the facts correctly". I hope your doubt does not extend to SEBI as well!
There is no compulsion. If you dont want to get from SEBI feel free to forget about it. Most people are good in preaching.
Having heard so much of my case, what may I ask is YOUR moral duty? If you dont want to help others by going to SEBI through RTI, just relax and forget about it, fully convinced that what all I wrote so far are just lies. I couldn't care less.
Either you are casual about the matter or serious. If you are serious, do something from your side too instead of just telling- if at all u have stated all the facts correctly.
Cheers!
Regards
crmr
See how you have ended-"if at all u have stated all the facts correctly".
I am sure many will have same doubt, even if I tell broker name.
How will you believe that I have given the name correctly?
I am so happy I have not obliged such doubting Thomas's.
That is why I said let SEBI name the broker, if you care to find out, if you are so keen to find out for your good as well as for the good of others. Then you cannot tell SEBI- "if at all u have stated all the facts correctly". I hope your doubt does not extend to SEBI as well!
There is no compulsion. If you dont want to get from SEBI feel free to forget about it. Most people are good in preaching.
Having heard so much of my case, what may I ask is YOUR moral duty? If you dont want to help others by going to SEBI through RTI, just relax and forget about it, fully convinced that what all I wrote so far are just lies. I couldn't care less.
Either you are casual about the matter or serious. If you are serious, do something from your side too instead of just telling- if at all u have stated all the facts correctly.
Cheers!
Regards
crmr
niether I am casual about this matter,nor serious..
anyways, I fr one am not embarking upon a wild goose chase where the aggrieved party is shy to name the perpetrator..
wish u all the best..
regards
dear friend
niether I am casual about this matter,nor serious..
anyways, I fr one am not embarking upon a wild goose chase where the aggrieved party is shy to name the perpetrator..
wish u all the best..
regards
Predictable reply from you.
Thanks for your best wishes.
Regards
crmr
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