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Issues with Share Redemption and Non-Transfer to Demat Account Involvi


30-Dec-2024 (In Criminal Law)
I paid for shares through a sub-broker, but they were never transferred to my Demat account. The sub-broker issued payment confirmation. The sub-broker of the main broker is now "strike-off" for e-filing and can't process the redemption, the sub-broker is asking for a "settlement" but cannot provide the full amount. What legal actions can I take to recover my funds? I have payment proof and documents.
Answers (3)

Answer #1
857 votes
you can file a consumer case against them with your bank transaction proof you can give the legal notice to them first after that they are not give response you can file a consumer case againest them this is best way. and another way is money recovery it is you shall pay a court fee and you get good order from court
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Advocate Bhagya C H

Adv. Bhagya C H

LawRato Bangalore / Bengaluru | 1000+ Answers
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Answer #2
867 votes
Dear Client, based on your question, it need a detail consultation because have to understand how much amount it was paid and settlement amount how much he is asking. hope this advice help you. for more detail consultation feel free to ask.
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Advocate Anik

Adv. Anik

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Answer #3
638 votes
Dear Sir, You have two options. You may directly go to the Police and lodge a complaint as it is nothing but cheating. Secondly, you can get issue a strong legal notice with all the details and send a message that you are going to file a civil case for recovery with interest thereon and also claim compensation.
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Advocate Kishan Dutt Kalaskar

Adv. Kishan Dutt Kalaskar

LawRatoBangalore / Bengaluru | 1000+ Answers
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