Trades Done in IIFL without my consent.

[adityasaraf007]

One suggestion needed.

Do I need to file a police complaint with my Local PS??

FIR is not required at the present moment. Let NSE do their job. If they fail, then go for Police Complaint.

Which is the better place to escalate this complaint to: NSE or SEBI?

If you can, you should file the complaint with both NSE and SEBI. However, as I know, SEBI is just another bureaucratic Govt. organization. It would hardly solve the case.

However, complaint with NSE and SEBI should come, only after you have taken up the issue with IIFL and have given them reasonable opportunity and time to solve it at their end.

Best of Luck in your efforts!!!!!

 

[adityasaraf007]

nothing will happen - so dont go thru that route.

file a RTI with NSE for the margin rules.
also complain to the investor protection or the appropriate fora with all documents.

mail to all the emails u can collect and also try to find the emails of Nirmal Jain, Venkatram et al
mail him

btw - iifl was india infoline earlier - has to change name to cover up this type of loocha - so dont let them go scot free this time
(also tell every client of iifl u know about this incident - i will also try to forward ur posting to the client in iifl)

regards
sr

Since, the trades were done Intraday - Short-margin rules shouldn't be applicable in the present case... It's only when the Client holds the positions overnight, that the margin rules kick into the picture.

Coming to why I mentioned about short-margin penalty in my earlier post, only to be on a safer side and not get entangled in filing Fresh Complaints if I need to face this situation if at all....

 

[bpr]

omg I have a idle account with IIFL with very less balance but has some stocks holding.
should I be worried??

 

[praveenpious]

SEBI has a system known as SCORES. They have helped me to deal with the issues I have faced with one of my brokers - Karvy. You can try posting a complaint with this SCORES too.

 

[soft_trader]

Today I have filled a complaint through NSE E-complaint (NICE).

In the meantime, I am receiving several mails to pay the debit balance in the account. The reply received from IIFL is also not encouraging. That's why Filled the complaint to NSE.

 

[DataRam]

I appreciate efforts of Soft Trader to bring into light this serious matter of gross corruption made by the broker. This thread will surely be read by many members of trading community and will enlighten many traders who don't know the legal routes to fight such corruption.

Traderji members who are putting their points here about what actions they have taken in the past when irregularities happened with them and also suggesting steps which could be taken to bring this matter to a reasonable and logical end in favour of Soft Trader are to be appreciated. They are doing lot of good for the trading community as a whole.

Soft Trader I really wish you success and I hope you come out as a winner . This may take time but your efforts will surely pay once you make your position stronger by presenting as many proofs as possible in your favour to the authorities.

One more thing I want to add here that help of consumer court may also be taken in this matter.

 

[soft_trader]

I appreciate efforts of Soft Trader to bring into light this serious matter of gross corruption made by the broker. This thread will surely be read by many members of trading community and will enlighten many traders who don't know the legal routes to fight such corruption.

Traderji members who are putting their points here about what actions they have taken in the past when irregularities happened with them and also suggesting steps which could be taken to bring this matter to a reasonable and logical end in favour of Soft Trader are to be appreciated. They are doing lot of good for the trading community as a whole.

Soft Trader I really wish you success and I hope you come out as a winner . This may take time but your efforts will surely pay once you make your position stronger by presenting as many proofs as possible in your favour to the authorities.

One more thing I want to add here that help of consumer court may also be taken in this matter.

I am grateful to all TJ members for supporting me and showing me way to fight this unethical business practice.

I have submitted every possible proofs to NSE, and I hope that NSE will take an action very soon. Thank you all for your kind support and blessings.

 

[soft_trader]

Just now received a reply from NSE that the investigation is under process.

Also Zerodha has confirmed that the exchange knows the source of order entry. Got the confident that I will win the case.

 

[prakash2010]

Just now received a reply from NSE that the investigation is under process.

Also Zerodha has confirmed that the exchange knows the source of order entry. Got the confident that I will win the case.

Fight till the end even its 1 rs or 1000 rs.

 

[milkyblack]

Just now received a reply from NSE that the investigation is under process.

Also Zerodha has confirmed that the exchange knows the source of order entry. Got the confident that I will win the case.

Wish you very best, and thanks for bringing these issues in theis online community.