CHOR Religare Securities Ltd.

S

shubsing

New Member
#1
#1
ILLEGAL UPHOLDING OF MY SHARES.

The company Religare Securities Ltd. where I hold Demat cum Trading account is not
allowing me to trade in my own account. The account details are
as follows:
TRADING ACCOUNT CODE: SS2804
DEMAT ID: IN301774 10612871

On 17/08/09 I had deposited 15300 Hindustan Unilever Shares (IS WORTH 45,00,000/- LAKH RUPEES) in my demat account maintained with the said company. On 08/09/09 I issued instructions to transfer the shares to my trading account from demat account. But since then these shares are not reflecting in my trading account.
The company have not yet given any answer for this. Since then I am not able to operate my account. This has resulted in severe mental and financial damages going into lakhs. The most cunning part is that they have not yet given me a reason till date for
this. Even after sending 3 Emails (dated 11,14Sept.&01Oct.2009)and 2
Legal notices (dated 15Sept.2009) to the company's registered as well
as their branch office.
The economic damage in my case is huge and is agravating day by day.
The shares are valued at approximately 45 lakhs.
The damages is around 10 lakhs every month.
 
aspardeshi

aspardeshi

Member
#2
#2
A lesson to be learned by investors... never keep more money than required in the trading account. if you are transferring huge shares, check the broker 10 times before initiating transaction and opening account. :thumb:
 
aspardeshi

aspardeshi

Member
#4
#4
complaints and legal formalities are ok at its own place. But what about the wastage of time and losses till then. So it is better if the investor turn out to be more savvy than before and check the broker 10 times before opening a account, i think 50% of the problems will get resolved before coming into existence by visiting forums like traderji.

Let it be any work, I would advise all the learners including traders to visit the panic forums of their subject matter over the internet, atleast they will come to know what all things can happen with them and they will turn savvy immediately :thumb:
 
SavantGarde

SavantGarde

Well-Known Member
#5
#5
Go To NSDL Office Along With A Copy Of Instruction Slip Where You Have Transferred The HUL Shares To Religare's Margin Funding A/c.

Also Take All Your Correspondence In This Regard.

I Am Sure SEBI/NSDL Will Fine Religare....Wish You Had Put The Complaint With The Authorities Earlier Because There Is A Time Frame Within Which A Broker Has To Resolve Client Issues Otherwise The Broker Gets Fined Rs.500 Per Day For Delay....The Client Is The Beneficiary Of This Penalty Levied.

Anyways, Audit Trail Of Shares Should Be Able To Solve Your Problem....Perhaps Suing Was Not Necessary As We Know Very Well How Long It Takes Our Courts To Dispose Of Cases....Chances Are Some Lawyer Friend Of Yours Must Have Suggested Going To Court.

SavantGarde

shubsing said:
ILLEGAL UPHOLDING OF MY SHARES.

The company Religare Securities Ltd. where I hold Demat cum Trading account is not
allowing me to trade in my own account. The account details are
as follows:
TRADING ACCOUNT CODE: SS2804
DEMAT ID: IN301774 10612871

On 17/08/09 I had deposited 15300 Hindustan Unilever Shares (IS WORTH 45,00,000/- LAKH RUPEES) in my demat account maintained with the said company. On 08/09/09 I issued instructions to transfer the shares to my trading account from demat account. But since then these shares are not reflecting in my trading account.
The company have not yet given any answer for this. Since then I am not able to operate my account. This has resulted in severe mental and financial damages going into lakhs. The most cunning part is that they have not yet given me a reason till date for
this. Even after sending 3 Emails (dated 11,14Sept.&01Oct.2009)and 2
Legal notices (dated 15Sept.2009) to the company's registered as well
as their branch office.
The economic damage in my case is huge and is agravating day by day.
The shares are valued at approximately 45 lakhs.
The damages is around 10 lakhs every month.
Click to expand...
 
Last edited:
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
lakshmankumarkhemani religare maxtrade safe strategy Introductions 0
U Minimum Fix Brokarage For Religare Beginners Guide 0
D Religare Web URL Brokers & Trading Platforms 0
D Indiabulls is chor please donot open account with them Investors Grievances 13
A Feel bad for CNBC Anchor. Equities 10

Similar threads