Hi All
I am telling you a real problem i faced using reliance money and i am looking for ur advice. I had bought shares of Ispat worth 10K in jan 2008 through delivery. They continued to show in demat account till last few days. Few days back i short selled some(around 250) ispat shares in margin. as the trade started going against me so i tried to square off the order. but RM didnt allow me to cancel the order even when it was showing up in the order book. when i clicked at cancel option it used get rejected and gave message the the order does not exist. Whole day i jus tried to cancel or modify the order without success. At the end of the day the order was gone from the order book. Through the ledger balance and contract notes i came to know that the sale of those shares have been credited into my balance amount.means i received the money (about 6K). Naturally this should not have happened as i was trading in margin and i shud have been in some loss if shorted shares were squared off at the end of day. After two days i chcekd my demat account and all Ispat shares were gone. I checked the history and there was no sale of ispat shares anytime through delivery. all trades were through margin. Even contract notes showed the trade as margin trades only. And the fact that i had only less than 200 shares in my delivery account so i could not have sold more than 250 shares through delivery trade even by mistake.
I have called up and mailed to reliance money customer care thousand times without any reply. The local RM contact office guys didnt solved the issue for 2-3 weeks now inspite of contacting them daily. Daily they used to say the servers are down or they are contacting mumbai office. One day some guy told that if the position is not squared of at end of day then shares can be sold from delivery. This is jus ridiculus.
Kindly advice what can be done.
I am telling you a real problem i faced using reliance money and i am looking for ur advice. I had bought shares of Ispat worth 10K in jan 2008 through delivery. They continued to show in demat account till last few days. Few days back i short selled some(around 250) ispat shares in margin. as the trade started going against me so i tried to square off the order. but RM didnt allow me to cancel the order even when it was showing up in the order book. when i clicked at cancel option it used get rejected and gave message the the order does not exist. Whole day i jus tried to cancel or modify the order without success. At the end of the day the order was gone from the order book. Through the ledger balance and contract notes i came to know that the sale of those shares have been credited into my balance amount.means i received the money (about 6K). Naturally this should not have happened as i was trading in margin and i shud have been in some loss if shorted shares were squared off at the end of day. After two days i chcekd my demat account and all Ispat shares were gone. I checked the history and there was no sale of ispat shares anytime through delivery. all trades were through margin. Even contract notes showed the trade as margin trades only. And the fact that i had only less than 200 shares in my delivery account so i could not have sold more than 250 shares through delivery trade even by mistake.
I have called up and mailed to reliance money customer care thousand times without any reply. The local RM contact office guys didnt solved the issue for 2-3 weeks now inspite of contacting them daily. Daily they used to say the servers are down or they are contacting mumbai office. One day some guy told that if the position is not squared of at end of day then shares can be sold from delivery. This is jus ridiculus.
Kindly advice what can be done.
no one can solve problem except u urself my dear
just think of it that for some pros the loss amount come with some extra zeroes at the end with out their own fault.
best of luck
go through my aforesaid topic
have fun
regards
