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Old 5th December 2007, 05:23 PM
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Thumbs down Say NO to RELIANCE MONEY

Dear All,

I am one of the several customers, who got carried away by reliance money's cheap brokerages. what's really true is their CHEAP service and FRAUDULENT acts, selling my shares, without informing me etc. to mention a few.

If you not convinced, then goto the link below, where i have posted in more detail the problem i had to face with reliance money.

Better AVOID reliance money.


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Old 3rd July 2008, 05:56 PM
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Default Re: Say NO to RELIANCE MONEY

I agree with u completely, we should avoid CHEAT RMoney

Here is my issue:

I have bought around 2000 shares of ISPAT through Reliance Money on Wednesday and s old it on Thursday using their ATST [Aquire today and sell tomorrow] option. They said that there was a buyer shortage and seller shortage on the shares. Now, they have debited amount for seller shortage from my account, but, did not credit money for my Buyer shortage shares. When contacted, they are not telling me at what rate they have charged me buyer shortage and seller shortage shares.

Also, there is a clear difference of 85000 Rs in my ledger and they are not ready to pay me. Moreover, they deposit Money and shares in my account, remove it, trade on their own will without my consent. How do I resolve this.

3. why am I just given only 2 % addition during buyer shortage and not 20%. According to SEBI rule, if shares are not given then money has to be credited at rate of 20%. Who can help me?

4. How do we confirm the money refunded by the SEBI is just 2% and not more than that?


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