Cash refund from brokerage firms

[vivid]

Hi, friends,
Before 5 years i had opened accounts with sharekhan and ventura. I had paid rs:6000 extra deposit money in shatekhan and in ventura rs:7500 . After many trades in sharekhan, i have to be refunded the above said money.i took no trade in ventura.i also would like get back the advance money i deposited when i took the account.i have contacted to the headoffice for the refund, but they (ventura)
said that it is not possible, I have not tacken any trade with them, then why should they withheld the money i paid.
I hope that sharekhan will refund the extra money i paid.i will contact them next week.

Pls help somebody in this issue

 

[rahulsharma17]

Hi, in case you feel being cheated you can lodge a complaint to the SEBI. It is the regulator for stockbrokers and will surely help you if it is legit to process the refund.

 

[vishal_k04]

I think during account opening, the sales person should have told you some terms and conditions regarding refund which you are missing out like x amount of brokerage or x amount of trades etc. Anyway as fellow member had suggested, try contacting sebi with all valid written proofs and documents.

 

[vivid]

As the member told i contacted SEBI and they redirected the complaint to NSE kochi office.the NSE authority contacted the brokerage firms and i got the replys from them, which are disappointing.
The both brokerage firms declined to refund.Ventura securities claim that the initial deposited money is for using their software.But after giving the initial security money i have not deposited any money to buy or sell the stocks, so i have not used their software.But what is the meaning of truth and gustice in share market.Even the exhange(nse) is in their favour.Loss is always be with us whatever happened.
So be careful with the brokerage firms like VENTURA SECURITIES. They are the great fraud. They are making money conningly.So stay away from them.

 

[lemondew]

if you dont intend to trade why did u deposit any money with them ?

You should also become a spend thrift in life.
Some rules to follow to avoid being pushed to buy something unwanted.
1. Never pay any money in advance.
2. Never carry extra money to shopping mall or big shops. Even if the sales guy manages to trick you You dont have the money.
3. Never commit to buying anything just pretend you want to learn about his product when you meet any salesman- insurance/bank managers/ or whoever. Always avoid calling them to your homes or tell them in advance you are not convinced about the product and they dont waste their time.
4. Never worry about saying no

 

[vivid]

if you dont intend to trade why did u deposit any money with them ?

You should also become a spend thrift in life.
Some rules to follow to avoid being pushed to buy something unwanted.
1. Never pay any money in advance.
2. Never carry extra money to shopping mall or big shops. Even if the sales guy manages to trick you You dont have the money.
3. Never commit to buying anything just pretend you want to learn about his product when you meet any salesman- insurance/bank managers/ or whoever. Always avoid calling them to your homes or tell them in advance you are not convinced about the product and they dont waste their time.
4. Never worry about saying no

"Never pay any money in advance"
Great advice. Thanks a lot. In future i will follow this rule.
It is when we found that how hard to make money, that we realy came to know the value of money which have been spent unwantly.
VENTURA SECURITIES is making money in an unproper way. They realy want the people like me who will probably will discontinue the account activity,then they can bag their security money.Even if we take trades, in order to get refunded the security amt, we have to generate an equalent amt of brokerage and probably this will compel us to take many unwanted trades.So either way we will exploited.It is very tricky method of looting the newcomers who come to capital market

 

[Zologul]

Oh, in this sense, you should always be careful and in no case trust the broker at once, it's your safety, you always have to think ahead, now you should look for a good lawyer, I think he can give you good advice, so that you can feel more free in the future.