We complained against a broker on nse website and escalated to arbitration but NSE rejected.

#11
Make a fresh one and now sign and provide enough documents and also quote the closed complaint details and mention that now you are sending new complaint as asked by them and also request them if anything more is required.

If your case is good and eligible they will take up else they will revert. Yes sometimes they may avoid initially but you must follow up strongly.
They rejected arbitration. Initial complaint was taken up and broker did respond but they said broker provided resolution and closed the complaint. I escalated to arbitration and they rejected arbitration citing minor reasons like lack of manual signature.
Are you suggesting that I should start a fresh complaint level ....which was step 1?
 
#12
Of course I lodged complaint and received a complaint number than escalated to arbitration and again received a complaint no.
Make a big noise on everybody's social media - the broker, NSE and SEBI.

You can also raise a complaint with the Finance Ministry on pgportal
 

mohan.sic

Well-Known Member
#13
They rejected arbitration. Initial complaint was taken up and broker did respond but they said broker provided resolution and closed the complaint. I escalated to arbitration and they rejected arbitration citing minor reasons like lack of manual signature.
Are you suggesting that I should start a fresh complaint level ....which was step 1?
yes. when they reject citing a reason, fulfil it and start again. Usually they dont reject again because mail communication is a proof which could put them in trouble if they dint respond properly. More over if they accepted for broker resolution, your case might be weak/no proofs. Rethink before you waste time on escalations. Or may be you can post it here and anyone here can help if it fits to be a right one to escalate.
 
#14
My experience with SEBI, NSE, BSE etc is not very good. They insist on producing some proofs which are not at all possible at retailer level. They know it well and want you to drop the case. The best thing is that do not feed them by stopping trading all together. Once retailer participation drops drastically, they will know.
The regulatory body employees themselves will call you and try to convince you into withdrawing the complaint against the broker.
 
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#15
1) your wishwashy complaint "against a broker " with out broker name & with out giving details of what was the problem you encountered.
2. You know & we know jolly well nothing can be done against them.(broker/SEBI/NSE).
3) If you want empathy/sympathy /a shoulder to cry here & raise hell on the wrong doings done by the broker- you should name the broker & upload proof documents (after erasing your name/a/c details ) so that we all know what golmal broker is doing.
4) IF THE MONEY YOU HAVE BEEN CHEATED IS HUGE , YOU CAN HIIRE A lawyer, file a case in Economic Offence Court & publish the court notice in Eonomic times .( minimum expense say ₹1 lakh) Just to tarnish the broker & NSE,SEBI. even then court will dismiss the case as it is resolved only by NSE/SEBI arbitration .
Best possible alternatives.
And true, posting on traderji helps one vent out the frustration.
 
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#16
Best possible alternatives.
And true, posting on traderji helps one vent out the frustration.
Cheaper way to shame them (since nothing can be done against the the Mafia)
Start writing Complaint Letters to editor in Financial standard, Economic times. Times of India,Financial Express ,CNBC Market watch, Twitter,Face book etc so that the dirty laundry is visible to all. There is no benefit as they wont reply. Just for your satisfaction.
Dont accept phone call arbitration. Insist on written reply by regd post or speedpost or from official email. (not gmail/yahoo mail etc)
Iam assuming you still trading at the broker who has wronged you.
Vote with your feet first. with draw un used cash. Open some what accptable another brokerage account .
Sell DMAT stocks (Not transfer to new broker dmat) (never mind Tax issues) .
With in 72 hours all DMAT stocks sold & cash sent back to bank account . Then start dirty smear campaign with facts . That is what I will do.
 
#20
yes. when they reject citing a reason, fulfil it and start again. Usually they dont reject again because mail communication is a proof which could put them in trouble if they dint respond properly. More over if they accepted for broker resolution, your case might be weak/no proofs. Rethink before you waste time on escalations. Or may be you can post it here and anyone here can help if it fits to be a right one to escalate.
So this time instead online complaint - start fresh complaint and mail to regional NSE center?
 

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