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Queries about complain to SEBI /RBI about KYC non-compliance
13-May-2023 (In Arbitration Law)
Lodged a complain with SEBI/ RBI against Banks/ DP like HDFC,HSBC, AXIS etc for non-compliance of verifying KYC rules due to which my entire accounts have been forged due to signature mismatch as they did not cross check leading to great financial losses. FIR lodgedn1. Can I make all of accused list in the chargesheet which is going to filed this month? If I do so, I was told by DP/BANK my complain with SEBI/RBI will not hold valid as I can pull them in only one court for arbitration.2. Do I have to file a claim petition/proofs-evidences apart from preliminary complain and at what point? n3. How do I calculate loss amount since opening till closure or till today?for Bank,Demat Trading account and Mutual fundsn4. Is getting a lawyer from my side for arbitration compulsory as I read that if i don’t get mine then Banks/DP can’t get theirs alson5. Any idea of fees and charges, deposits payable by me to the SEBI/ RBI arbitrator for this process and the timeline?
there are two aspects to the whole issue. you have registered an FIR against them for possible case of forgery and cheating and it'll be dealt with by the criminal courts accordingly.
The arbitration proceedings will deal exclusively with the violation of SEBI norms and regulations by the concerned DP for having created fake accounts. this will involve penalties and compensation.
The arbitration proceedings will deal exclusively with the violation of SEBI norms and regulations by the concerned DP for having created fake accounts. this will involve penalties and compensation.
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Adv. Sudarshan Desai
Pune | 200+ Answers
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Well, you have so many questions. To give answers of all your questions here won't be possible. Let us do one thing, Why don't we go for One to One Consultation! Hope you got my point. If so, let me know.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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