Online Share Trading By Broker without opening the demat account.
30-Nov-2023 (In Consumer Court Law)
I have been involve in share trading with INDO Thai broker from last 3 year.
Earlier i was involved in trading of around 30-50k. Now my broker told due to
lower circuit all my money is lose also he is asking to pay 4lac rupees. So now
i wanted to know how this much amount is being lossed.
First thing i came to know
1. I dont have any seperate demat account broker was doing the trading in his
own trading account.
2. When i asked for the total trasaction history so that i can crosscheck or
verify all my share details went correct or some cheating is involved.
2.a. He provided the excel document sheet. How can this be a valid trasaction
proof.?
2.b. I asked i need the valid online share trasaction report.. he told i cannot
provide as i am dealing with 200 clients in my own account so i will not be
able to provide.
2.c Also i came to know he was adding the interest of 18 percent per month on
the margin he provided on shares.
i am in huge pain due to this. Please suggest
looking into the circumstances you are cheated by that person first of all you have to open that demat account as per provisions of SEBI guideline and law that you fail to do so now only remedies available to use to just filed an FIR before nearby police station against that person or first of all you can issue legal notice through an advocate
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