SOS help

I have been using Karvy fom 2 years they dId not transfer the shares bought by me. I request any of the traders whether I can go for SEBI/ any organisation for not showing shares I have bought in my account

--- a Poor Soul waiting for reply from HYDERABAD

no idea sorry ..........

U get best response from Grievance Cell, NSE or BSE. Approach them immediately.

Deficiency in Service by INDIAINFOLINE SECURITIES PVT. LTD. Illegal trade done in Client A/c,Misuse of instructions

Please HELP me for a Problem of Deficiency/Fraudelent in Service.

I have been cheated/fraud done upon by INDIA INFOLINE SECURITIES PVT. LTD.& its working staff in Delhi.

SEBI Registration No.INB 231097537 & INF 231097537-NSE & INB 011097533-BSE.
A national level stock broking house,an its major co. is listed on national bourses too with the name of INDIAINFOLINE LTD.

Registered with an office address:-Bldg.24,1st Floor,Nirlon Complex,Goregaon(E) Western Express Highway,Mumbai-400063

I have been trading into stocks since March 2004 as an registered client of 5paisa.com(india infoline securities pvt. ltd.)broking subsidiary in New Delhi.

My Trader Terminal Id with 5paisa.Com is MOHIGUPT.

On 13th April 2007,i had traded Short-Sell 867 Shares of Tech Mahindra @1452<avg.-Cash-Nse-Intraday>

During the mid-course of trading hours i covered 103Shares of TM leaving behind 764 Shares still in Short Position,

At that moment connection to my TRADING TERMINAL server got broken,due to some problems at IndiaInfoline end.

So,in order to Buy-Cover my left over short Shares i Called up my RM in indianfoline Mr.Parul-Gupta(Posted @Kirti Nagar-Delhi Branch),i sincerely told him to BUY-COVER 765 Shares of TECH MAHINDRA for me @ the MARKET PRICE.

**Within seconds over the phone he told me that my order has been covered.**

Surprising facts are:-

1)I got to know instead of buying required qty. of stocks he/(RM-Dealer) mistakenly OR Intentionally Short 765 Shares@1489 more taking my Toll of Shorted shares to 1529Shares(Amounting >Rs.22.5Lacs)and market closed thereof.

2)How can they trade that much amount on one side of trade(Sell/Buy) in my trading account,when my account don't have that much margin funds available or ineligible for the amount of trade executed.

3)Next day,when i saw my contract note for (13/04/2007),i was shocked to see my trading account freezed and its in SHORT of 1529 Tech Mahindra Shares.

3)Immidiately i called up my RM,Mr.Parul Gupta,he told me that yes he know what has happened & accept that this was done due to a fault by trading dealer@ office,and he will do whatever he can to rectify the problem(wrong/fraudlent trade executed).

4)On 15th April,My RM Mr.Parul Gupta told me that he has saved me from penalties of AUCTIONING OF SHARES(for mistake which i have never committed)& sounding like threatning me for no good cause.

5)Now My RM Mr.Parul Gupta(IndiaInfoline Securities Pvt.Ltd. Employye) is saying that he can't do anything.
Whatever has done can't be changed.
Now not even picking my repeated phone calls.
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Now ,i don't have any other option out for saving myself from this severe unbearable loss of Rs.1,25,000(Approx.) caused by DEFICIENCY IN SERVICE OF INDIA INFOLINE SECURITIES PVT. LTD.
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Also,this tends to bring a severe Toll on me in form of Mental Trauma ,Stress caused due to many unslept(highly depressed) days & night.
********************************************
As,i am a young age man,Aged just 22+.

I am involved in several other acts like,i am studying MBA-Finance(DLP) from ICFAI Hyderabad.So,i am not able to work on any front,neither study nor work.

I have took Stock Market Trading as an career option for myself with my studies going on secondarily,
I opt out from regular MBA option just to pursue my most fascinated Technicals,Stocks,Number crunchers,charts,financial statements Balance sheets etc..

But,where would i move now?

But,now i am starnded in nowhere,as all my money is being vanished by aforesaid FRAUDLENT trade done on part of India Infoline Securities pvt. Ltd.
adding to my mental agony as i don't have
more capital to start afresh.(as suggested by Mr.Parul Gupta RM-Indiainfoline)
Its seems my career is RUINED mid-way.
I have no other way to look for help.

I would like to raise a case against INDIA INFOLINE SECURITIES PVT. LTD. in National Consumer Forum,New Delhi also for the unbearable mental agony caused,and fear created for loss of career ,livelihood & financial compensation.

These big private broking houses thinks that an common man can't sue them as they have all well prepared with big Lawyers etc.

Now,i am in such a depressed situation thinking what would i do,if i don't get justice.

Where would my most passionate(technical stock market trading)work moves from here?

Still i believe in esteem INDIAN LAW.

IF ANYONE CAN HELP PLS CONTACT ME.

HELP ME FOR JUSTICE!!!!

In hope of earliest consideration!!

Thanking you

With Regards

Mohit Gupta
Small Trader-Investor
Delhi

Mobile:- +91-9811803656
Cell No:- +91-9313424339
Email:- mohitgupta_2001@*****.com
mohitgupta_2001@*******..com

HI MOHIT
same happened with me, I would like to know did your problem get solved??And if yes the how, please tell me....
I am also very fed up with India Info Line....

we aresailing in thesame boat,i had similarproblemwith indiabulls,i guessthis might berelated tozcategory stocks. This peopleare not allowed to deal in such stocks, but they cant resist themselves forbrokerage, so theymight be doingthrough other brokers, so please check their a/c statements,hope youmay be able tofind some loop hole there!?!

my problem has been solved atlast I closed my account at Karvy and Opened online account @Geojit they are good till now

You should lodge a complaint with BSE/NSE and SEBI as a first step. This can be done online by e-mail i think. If that does not work you should approach Consumer courts. Mere notice from a court will be good enough for them to correct their mistakes,
best luck.
mishra

Karvy is upto such dirty tricks regularly. Call their main office and ask for redressal of your greivance and if they do not respond positively , sell all your shares and close the account and take back the deposit. Open a 3 in 1 online account with ICICI Direct.

PS: I am glad to read in your latest post that you closed the account and opened online A/C with Geojit . Congrats.