Sharekhan sold my shares WITHOUT MY PERMISSION

[aryanrajesh]

It may be late post; but i think it will help all others..

When client has some grivances with broker, he should send letter to that company for explanation. after 3 reminders with loss claim if he goes to SEBI then it will be effective; for proof reason u can send emails also.
Company has the responsibility to give explanation on clients letter within a month of time; usually brokerage houses will send pre dated letters to clients...

Always better get legal help from auditors regarding trading issues; they know well on this..

and agreement is not that much valid; because notary on agreement is taken place with out authority signature of broker ( that is only clients signed on agreement not broker; with out clients instruction this agreements can't be notarised by lawyers)

So always client has advantage on broker, but should claim in a right way..

 

[hometypist]

I think I can suggest a way of how to go about it. Please contact me at [email protected]

 

[sandynisha]

very bad ... .....sharekhan

 

[rahul_trader]

Hi,

After reading all the complaints on this forum and other forums on websites I think 95% cases like this happens with either with Franchise or sub-brokers they are the ones who spoil the game for makeing commisions and generating revenues The broker houses like ShareKhan (SSKI) must try to check with these franchise and sub-brokers. SEBI has to bring out strict Compliance and do quality checks it they want to make things better and brighter. The main problem comes with medium and small investors HNI's and big ones don't have to fear becuase no one will tamper with there accounts after all they are the bread and butter of these broking houses and they will never wanna loose them as far as the story goes for small inevestors they come in hundreds and leave in hundereds thats what I think these broking houses think.......thats why hard earned money always is on the mercy of such brokers....The only way is if big houses like direct and reliance who can bring up better services may be that will be a lesson and others will have to imporve the services and they might think time has come to correct the mistakes. For example: Reliance retail , Walmart they enter in market with better services what happens imagine small players have to improve there outlook also if they want to survive. Lets see how long this type of useless mistakes go on........thats all we can do I think......SEBI are you listening...........Strict Compliance.........thats the only way out.........

More over the game of POA has to be changed some rules have to be implemented inorder to safeguard the interest of investors...

 

[kvvighnesh]

I understand it is every where the same problem. I did experience the same problem with 5paisawala. The pitty is I sold in the morning 10.05 itself but after I find and annoyed that they have sold all most all holding propnately(i.e.what they call such idiotic explanation). As If I gone for short, if I have not noticed the same by 12.30 pm. gone all money I invested nearly 1.5laksh gone for auction. Such an irresponsible act with sharekhan still pending. My bonus shares credited to my sharekhan account is not properly I get explanatin from them. Still I am the loser of 23 shares of bonus with sharekhan. Idon't know where to raise up the issue. Could anyone be of help to me (guide me) in this regardd. K.V.Vighnesh

Hi everyone! Can someone please tell me how to go about this issue ? On Thursday 21 Sep 2006 Sharekhan sold my shares (100 Satyam) at 9.57 am @ 850 without asking me .And another 50 RIL shares @1138 without even asking me. I am new to trading and am very angry upset and lost . Do you think SEBI will help if I report to them? Who else can I report to ?PLease advise as I am unemployed and I cant afford to lose money through such irrational behaviour by a broking agency just to earn a brokerage Any suggestions are welcome.AND THIS IS NOT THE FIRST TIME THEY HAVE DONE THIS. The last time they did this I let them go once my broker apologised. SO PLEASE SPREAD THE MESSAGE ABOUT WHAT SHAREKHAN DOES TO NOVICE TRADERS. I pay a high rate of brokerage, have suffered HEAVY LOSSES THROUGH THEM DUE TO ILL ADVICE and now THIS. WHO DO I APPROACH FOR REDRESSAL ?

 

[hari09omkar]

I am also a customer of sharekhan. What you said amrita about your trader like 'jogging' word, similar things happened to me too. It is not a matter of joke for us to invest or trade with a large amount of money without making a consideration and rethinking of our decision,but seems like so for the people out there in sharekhan. They are not always very eligible also to answer your queries about specific matters,like brokerage and others. They charge high brokerage.So, please post about the consequences about your matter with sebi, as it will help many others to raise the voice against these irresponsible people.

 

[Knil]

Comments by Vinod1997 and bobomonkey appearing after a year. What happened to Amrita Basu's original complaint almost a year before?

 

[Raju]

Hi,

I have a query regards , Sharekhan.Many a times I take delivery for stocks, but after 3-4 days the shares don't show up in my account.Sharekhan ppl say..short at NSE.this has happened atleast 3-4 times with me in last 1 yr.

Raju.

 

[hari09omkar]

U mean u lost all those shares and their value? Or is it that these shares are temporarily not there in ur DP holding list,but have come again in the future?

 

[Raju]

They do come but atleast 3-4 days late ..and some times the price have decreased..So my profit lost ..As i ususally sell after 3-4 days after buying (ofcourse If the price has rose..else I wait..And then sell at every rise..But let's take case of EssarOiL...iT WAS GOOD MOVEMENT TILL 321..Now it is has come down..So the momentum which I had caught was lost due to unavailablitliy of stock in my acct.This happened 3-4 times..Ofcourse I play safe in Cash Market and ususally hold and deal in good known companies..But due to unavailabilty my profits decrease...