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Loss of money due to investor advisor. They refuse refund. What to do?


06-Mar-2023 (In Recovery Law)
I have opted investor advisor services from money maker Indore and due to their poor guidance, I have incurred a loss of 4 lacs INR. I have asked them about refund of loss or make an agreement with me for providing services till my loss is recovered despite many reminders all in vein. As per SEBI rules/guidelines, they have to maintain client data for 5 yrs and risk profiling anaylsis has to be done to mimimize the loss due to market volatility but in my case they hv failed in doing so. moreover they are provide ready-made services in respective of clients risk apetite. I asked many a times to share ISO copy and crisil copy but they are not sharing. Profit sharing is also prohibited as per rules but they are involved in the same which is not appropraite. Is it a recovery suit or I have to file a consumer case?
Answers (1)

Answer #1
536 votes
Arranged all the documents including an agreement pertaining to your case send a legal notice through counsel and file a case against them for deficiency of services before consumer forum and also file a complaint before the SEBI if they are the registered stock trading company so that they can get delisted for trading further

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