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| Discuss Unauthorized transactions by Share Khan at the Investors Grieviences within the Traderji.com - Discussion forum for Stocks Commodities & Forex; I am posting this on behalf of my parents who have a trading account with ... |
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#1
6th September 2007, 03:59 PM
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Unauthorized transactions by Share Khan
I am posting this on behalf of my parents who have a trading account with ShareKhan. My parents are light investors and had traded less than Rs 1 lakh till June 2007. They were shocked to see Rs 3 lakh worth of transactions one day in July. The company convinced my parents that it would be taken care of once my parents give a cheque to cover the outstanding.
But even after this incident, between July 9 and 17, there were Rs 38 lakh worth of unauthorized transactions by ShareKhan!! After repeated complaints, the agent incharge of the account was fired, but the unauthorized investments were showing a loss of Rs 87,000. My father has repeatedly emailed ShareKhan, and he has never received a written reply. Finally ShareKhan has offered a sum of Rs 50,000 instead of Rs 87,000 and have asked my father to bear the rest. This is blatant disregard of professionalism and flouts all legal norms. I have already lodged a complaint in SEBI. I have a list of all unauthorized transactions, and copies of emails that my father had sent. What would be the best/speediest recourse at this point? Does this come under the jurisdiction of consumer courts? Best regards Rahul 
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#2
6th September 2007, 04:41 PM
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Re: Unauthorized transactions by Share Khan
Quote:
Best Regards, --Ashish
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#3
6th September 2007, 08:08 PM
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Re: Unauthorized transactions by Share Khan
Dear Aca,
U hv suggested Consumer Forum for Speedy settlement of dispute. As I would like to pull up Hathway Internet for their refusal to refund the deposit, I wish to approach the Consumer Forum. May I know how fast it may be settled?. What is the proceedure?. I am from Mumbai (Kandivili) and wish to take action against Hathway.
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