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K&A Securities Pvt Ltd
Fraudulent, unfair and deceptive pratice

TO

THE CONSUMER COMPLAINTS

Subject: Complaint against a stock broking companies and its financing arms recognized as NBFC (under same management company) carrying fraudulent, unfair and deceptive trade practices.

Respected sir,

Myself Atul Kumar Saxena (Employee code KA 00146, provident fund account no. was DL/16458/126, Branch Manager, Rishikesh, Branch Code 42, employed during 1-Sep to 18 -May8) was a past employee of K&A Securities Pvt. Ltd. (companies detail are k&A securities Pvt Ltd. A-7, sector -4, Noida 01, Distt: Gautam Budh Nagar, U.P., india, www.kasecurities.com). I had resigned this service due to fraudulent, unfair and deceptive management practices, which was applied and yet applicable by these companies with other same management NBFC company (company details are Suraj holding ltd, RZ-54/1, iii rd floor, Tughlakabad extn., New-Delhi-110019) continuously, consistently operating with fraudulent intention, embezzlement of money and even operating in same manner till today.

By lodging of this complaint, I reveal all the facts regarding to these fraudulent companies whose practices simply indulged common public interest and country’s economy severely. Day to day operations clearly reveals to you non- compliance, misconduct and the violation of all the major laws of India applicable in financial services like INCOME TAX ACT 1961, COMPANIES ACT 1956, RBI rules regarding NBFC, SCRA 1956, SEBI (PROHIBITIONS OF FRAUDULENT AND UNFAIR TRADE PRACTICE RELATING TO SECURITIES MARKET) REGULATIONS SEBI ACT 1992, NSE MEMBER CODE OF CONDUCT, THE DEPOSITORIES ACT 1996, INDIAN CONTRACT ACT 1872, MONEY LAUNDERNG ACT LABOURS LAWS etc.

Now I elaborate all the things with necessary and sufficient evidence even you can verified through various agencies /participants involved in market /exchange operations. Sir first time when I knew about companies real business I was very much surprised, tensed and scared since most of these financial frauds executed at Head Office Level with the consent of companies chair person, Dr. Mukesh Kansal, Director Vinay Gupta and all Top Level Management Employees, during to my tenure in Rishikesh branch with out my knowledge and consent in FY 08. When I understood about companies illegal and fraud practices in deep manners, I have surrendered my resignation but companies refused to it by saying we will sit together and solve this matter amicably and on mutual profit basis but I insist to them please accept it and said that my personal value didn’t allowed to me to do these frauds but they lingered on and kept me in dark about three month with out salaries. further in the mean time, near mid march companies called me to head office Noida and signed forcefully on gun points various blank kits of Suraj holding (NBFC) as a gurantor and witness and started black mailing me.

Entire matter will be properly understandable, when you go through below mentioned explanation.

First time companies mensrea intentions reveals when companies fraudulently applied IPO, ICICI BANKS in year basically what the company K&A (STOCK BROKING) does with the support of SURAJ HOLDING (NBFC)(the same management companies).

I explained now:-

-Initially at step 1:- K&A applied “ICICI bank ”, in clients DEMAT accounts without client consent and knowledge by inserting companies own capital, making a false signature on IPO applications, by making a drafts of Rupees 98000/- by using own capital and conveying, this issued are financed by SURAJ HOLDING NBFC (under same management companies)

Here most interesting facts is that, Not a single clients even request to financed this IPO but due to malafide intentions, itself company (suraj holding) neither fulfilled any compliance (i.e. filling of financing kits by clients) nor required any safety deposit/ margin, even they did not consider necessary to take client written permission who would be the possible applicant of this IPO . Companies have decided to execute a financial fraud, they applied this ICICI Bank IPO in to various client DEMAT ACCOUNTS (about 55 clients at Rishikesh branch (code 42) level) and convert own black to white. I am now mentioning below the complete list of applicants, where companies did applied their own number 2 money in DEMAT of various clients.

Now applications applied in ICICI BANK IPO, shares allotted, 108 ICICI BANK SHARES allotted to respective DEMAT accounts, now drama started at second stage some of the clients refused to returned these shares and filled a complaints to NSE and SEBI to claim their share, unfortunately companies returned these share, the name of these clients, 1- JAWAHAR SHELLY (42J3, clients trading code), 2-JITENDRA KUMAR SINGH (42J4), 3- PUSHPKAR PUSHP (42 P4), 4-RAJESH SINGH (N42008).

Unfortunately companies had to returned these 108 ICICI bank share to above four clients of Jaiprakash associate -Tehri, at that time under the SEBI and NSE order.(you can do cross verified it).

Now at Rishikesh level, scene had been created, some clients refusing, some clients are complaining, some clients were showing own tax management problem etc. Yet I tried to resoved this matter with the consent of Vinay Gupta, Amit Goel (suraj holding director) and Mukesh Kansal. Now companies ordered me, recovered this company capital.

Then I enforced to local level employees (rishikesh branch employee) to recover this companies money by any means, employees and me had started beggaring to various clients, on the behalf of companies and remained successful to some extent to recovered some of shares /money by taking a chq of 98000/- in favors of SURAJ HOLDING and approx 8000 -9000 rupees in favors of K&A, since company has sold out these shares in clients respective demat accounts at profit and money was stood there in clients accounts.

Now again some clients refused to shares /money in spite of offered profit sharing by companies director and official but no result came out then these great companies surprisingly did debit clients 108 icici bank DEMAT shares and moneys to own accounts by falsifying the relevant records or reversing entries or using POA and offset the accounts. So in such way, at last icici bank issue resolved. All this was happened at head office level without my knowledge or consent.

Details of applicants are (clients name, trading ids, Rishikesh brach code may confirmed through depository records and company records, FY 08)

1.ABHINAV GOEL 42A10,

2. AJAY SRIVASTAVA 42A 5,

3. AJAY SINGH BISHT42A20,

4. ANAND KUMAR AGARWAL 42 A13,

5. ANIL DABRAL 42A17,

6. ANIL KUMAR JAIN 42A11,

7. ANKIT KAUSHIK 42A7,

8. ASHOK KUMAR 42A9,

9. GURVIR SINGH JASSAL 42 G2,

10. IMRAN AHMED SAMANI 42I1,

11. JAWAHAR SHALLY 42J3,

12. JAYANT KUMAR ANAND 42J1,

13. JITENDRA KUMAR SINGH 42J4,

14. K.K. SHARMA 42K6,

15. KAMLESH KUMAR DANGWAL 42K5,

16. KIRANDEEP KAUR 42 K2,

17. KUBER MOHAN UNIYAL 42K3,

18. LAKHI RAM NAUTIYAL 42L2,

19. MANISH GOGIA 42M1,

20. NARAYAN MAHESWARI 42 N2,

21. NAVEEN KUMAR AG ARWAL 42N3,

22.POONAM 42 P7,

23. PUSPKAR PUSHP 42P4,

24. RADHA NAUTIYAL 42R11,

25. RADHEY SHYAM CHAUHAN 42R12,

26. RAJEEV GUPTA 42R13,

27. RAJENDRA KUMAR MISHRA 42R15,

28. RAJESH BADONI N4

29. RAJESH KUMAR UBHAN 42R10,

30. RAJESH SINGH N4

31. RAKESH MISHRA 42 R9,

32. RAVINDER MEHNDIRATTA 42R8,

33. SANJAY KUMAR CHAURASIA 42S13,

34. SANJEEV AGARWAL 42S9,

35. SANJEEV KUMAR BANGA 42 S16,

36. SAURAV MADAN 42S10,

37. SHAILLENDRA 42S1,

38. SHILPA 42S18,

39. SUDHIR KAUSHIK 42S8,

40. SUNIL RANA 42S6,

41. SUSHIL SHARMA N42S7,

42. TRILOK NATH GUPTA N4

43. V.M. UNIYAL 42 V6,

44. VIPIN SHARMA 42 V3,

45. VIPIN NEGI 42 V7,

46. YOGESH TIWARI 42 Y1,

47. ARUN JUGRAN 42A4,

48. ANUJ SAXENA 42 A18,

49. ASHOK KUMAR GAIROLA 42 A6,

50. HITENDRA JOSHI 42 H3,

51. SANDEEP GUPTA N4

52. SHIV KUMAR PANDEY 42S14,

53. UBHAN 42U4.

NOW THINK SIR, NATURE AND AMOUNTS OF SCAM, MORE THAN 25000 CLIENTS, MORE THAN 20 YEARS OF EXISTANCE, 100 OF IPO’S COME DURING THE COMPANY EXISTANCE, RESULT WHAT??? IF COMPANY USED 5% ACCOUNTS FOR THIS FRAUD GAME. A HUNDRED OF CRORE OF FINANCIAL SCANDAL HAD BEEN OCCURRED IN THE LIFE OF COMPANY AND ABOVE ALL COMPANIES ARE YET FUNCTIONING AND STILL ON…………………………………..???

THIS IS ONLY THE DISCLOSURE OF RISHIKESH OFFICE ACCOUNTS IN ICICI BANK IPO, NOW PROJECT THESE FRAUDLENT APPROCH / PRACTICES TO ALL 25000 CLIENTS, OVER MULTIPLE IPO’S COME FREQUENTLY IN IPO MARKET SINCE LAST 20 YEARS SO THIS REQUIRED COMPLETE THOROUGH INVETIGATIONS. FURTHER I DISCLOSED THROUGH MY CREDIBLE AND RELIABLE SOURCES THAT COMPANIES USED SAME MODES- OPRENDI IN RESPECT TO RELIANCE POWER IPO’S AT DEHRADUN BRANCH LEVEL (BRANCH CODE -28) BUT IN THESE MATTER COMPANIES HAD INVOLVED OTHER OFFICE EMPLOYEES, NOT RISHIKESH OFFICE END.

Another deceptive practice which I want to reveal, where I am in trap and continuously blackmailed and terrorized by these both companies and all its officials and employees. As I mentioned above I had forcefully signed about 15-20 blank and filled kits of suraj holding as a GURANTORS AND WITNESS . even companies tried to lodged a fake legal suit against me as a guarantor but my answer in respect to notice completely shut the company mouths and result of which company did not proceed further this case why??? Asked them .now companies started defaming me by means of various false allegations and started terrorizing, blackmailing, sending illegal elements (gunda) to my home and enforce recovery of their bad debts. According to me company losses caused only due to excess greed and illegal practices.

Finally I approached to SP - police, dehradun and registered a complaints against both of companies and its officials but police did not understand the gravity of matter and close file simply as simple civil (employer –employee) dispute.

In the larger public interest and as a responsible citizen of India my duties is to disclosed all this matter at each level. there is always a tolerance limit, enough is enough now I committed and started sent this matter thoroughly each and every authorities constituted under various law both central and state.

Here I am talking about the second nature of fraud where companies indulged following practice, here companies provide irrational trading limits to various clients even not fulfilling the requirement of sufficient safety margin. Reasons are same, excess greed, result what??? only earning of Excess brokerage and interest income.

This was all done after set a siding the exchange defined norm, prevailing practices and applied laws. Reasons same. EXCESS GREED

Some of trading glimpses is showing here, you may verify all these through clients bank accounts transaction details, contract notes, companies ledger with bank statement .etc

Examples are:-

Serial no. Clients details margin deposited maximum overnight holdings

1 Vineet rawal 42v5 approx 1, 00, 000/ approx 40, 00, 000/-

2 Raj kumar Gandhi 42r40 90000/- approx 23, 00, 000/-

3 Rajkumar 42r 19 2, 50, 000/- approx10, 00, 000/-

4 Dinesh panwar 42d 23 20, 000/- approx 10, 00, 000/-

5 Anil kumar 42 a27 90, 000/- approx 70, 00, 000/-

6 Hitendra joshi 42h3 5, 00, 000/- approx 1 crore

7 Girish Kothari 42g9 2, 00, 000/ approx 40, 00, 000

8 Neeraj rai 42n 13 margin 0 trading approx 1.3 crore

List are unlimited, please check the FY 08 trading records 100 of the frauds you will get during financial year 08 when you will do trading record scrutiny. 100 of incidence of bad debts and mismanagement reveals to you and where ever you looked in books zero bad debts only presumed that matter has been solved by cash deal which is completely prohibited in our laws.

Sir I request to you, please give me a reasonable opportunities to make explanation in respect to above matter and convinced you . further I request you please take immediate and appropriate actions against to both companies and its employees to burst this scandal and provide me and my family police security since companies are still terrorizing, abusing, face worst consequences and blackmailing very much. due to which me and my family is live-in great mental tension and if any injury caused to me and my family member only these companies and its officials, employees will be reasposible.

Sir now prompt and tough action awaited against all these culprits and any further explanation if required in any of the above matter, please call me. Another matter where I want to draw your attention these company management is also running a Garments export based company named as “CTA APPAREL LTD.” now sir you can easily presumed what management practices are being applicable there. Please investigate it.

Thanks

with regards

Your faithfully

Atul Kumar Saxena

C-2/3, Sri gangapuram apartments, Gali No. 5,

Ganga Nagar, Rishikesh -249201

Email ids – [email protected]

Mob no. 9997998282


Company: K&A Securities Pvt Ltd

Country: India   State: Uttarakhand   City: Dehradun

Category: Business & Finance

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