Worst Problem What To Do?

Munchi,
Certainly I was not talking on legalities, how can they be my domain!!I was talking abouot arm-twisting.

Best Regards,
--Ashish

[quote]
Munchi,
Certainly I was not talking on legalities, how can they be my domain!!I was talking abouot arm-twisting.

Best Regards,
--Ashish
[quote]


Forget about legal problems. You need to approach lawyers only when all other methods fail. Yu can employ various other psychological methods to pressurise him and to make him pay up the amount. I was just making aware you about what is going on in legal field of this country. Because, what we see on TV is not at all close to even 5% of what is happening in courts. Infact, these TV serials and TV journalists have succeeding only in misleading public about this field. The scenes of court room as shown in TV (especially TV serials) is now where close to even 5% of "real court room" proceedings. Just off topic in this thread, but very relevant in this forum, have you noticed the striking similarity between the tactics employed by FII and legal professionals to make money for themselves and for their clients? I do agree that fields are different, modes of operation are different but the end goal is the same.

First of all I would like to inform the fellow members that I am not undergoing any problem regarding payouts.

i started this thread so that we can discuss the worst problem alongwith solution. So that anybody suffering a specific problem can get a ready guide here. You can say ready reckoner for problems related to brokers.

Coming back to the problem,
A small person who has only 1 lakh , which he has parked to broker feels uneasy the moment he realises that the broker is hesitiating to give money, the moment he feels that its very tough to get the money.

initally the person will try to take out money by speaking lovingly sweetly with the broking co.
Normally ppl atleast small and middle class ppl try to want to settle things calmly coz they dont have that much money power to go for legal.They dont even have thatmuch will power or patience. A big broking co, is comforatble to pay to lawyers , but not a middle class man.

So, the solution again,
Ask for payout.
If you dont get payout within the time email them saying that you have not recived the payouts and if you dont recive the payouts within 12 hours you will approach to sebi.
If you recive any reply to this email then well and good else FAX them or you can also send a registered post again saying that you have not recived the payouts and if they fail to release funds you will make complain to stock exchange or sebi.

make a complain to the stock exchange and they will do the needful.



FAQ given on sebi site, http://www.sebi.gov.in/Index.jsp?con...&sub_sec_id=51

38. What happens if I do not get my money or share on the due date?



In case a broker fails to deliver the securities or make payment on time, or if you have complaint against conduct of the stock broker, you can file a complaint with the respective stock exchange. The exchange is required to resolve all the complaints. To resolve the dispute, the complainant can also resort to arbitration as provided on the reverse of contract note /purchase or sale note. However, if the complaint is not addressed by the Stock Exchanges or is unduly delayed, then the complaints along with supporting documents may be forwarded to Secondary Market Department of SEBI. Your complaint would be followed up with the exchanges for expeditious redressal.



In case of complaint against a sub broker, the complaint may be forwarded to the concerned broker with whom the sub broker is affiliated for redressal.



39. What recourses are available to me for redressing my grievances?



You have following recourses available:



* Office of Investor Assistance and Education (OIAE) : You can lodge a complaint with OIAE Department of SEBI against companies for delay, non-receipt of shares, refund orders, etc., and with Stock Exchanges against brokers on certain trade disputes or non receipt of payment/securities.



* Arbitration: If no amicable settlement could be reached, then you can make application for reference to Arbitration under the Bye Laws of concerned Stock Exchange.



* Court of Law









40. What is Arbitration?



Arbitration is an alternative dispute resolution mechanism provided by a stock exchange for resolving disputes between the trading members and their clients in respect of trades done on the exchange.



41. What is the process for preferring arbitration?



The byelaws of the exchange provide the procedure for Arbitration. You can procure a form for filing arbitration from the concerned stock exchange. The arbitral tribunal has to make the arbitral award within 3 months from the date of entering upon the reference. The time taken to make an award cannot be extended beyond a maximum period of 6 months from the date of entering upon the reference.



42. Who appoints the arbitrators?



Every exchange maintains a panel of arbitrators. Investors may choose the arbitrator of their choice from the panel. The broker also has an option to choose an arbitrator. The name(s) would be forwarded to the member for acceptance. In case of disagreement, the exchange shall decide upon the name of arbitrators.



43. What happens if I am aggrieved by the award of the arbitrator?



In case you are aggrieved by the arbitration award, you can take recourse to the appeal provisions as given in the bye-laws of the Exchange.



Munchikana,
By reading these FAQ given on sebi site on the foll link, http://www.sebi.gov.in/Index.jsp?con...&sub_sec_id=51

I am confused regrading arbitration, munchikana does it means that stock exchange will resolve all problems by arbitration or arbitration is one of the way?

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.

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@yahoo.com
mohitgupta_2001@hotmail..com