Prashant Shroff Kalashripat's Pole,
President: Shri Samasta Lad Vanik Mandal, Surat Opp. Yamunabaug,
Past President: Surat Metro Jaycees Chautabazar, Surat
Date : 10.3.2011
To,
Hon'ble Justice Shri N.K.Sodhi
Presiding Officer,
The Securities and Exchange Board of India
Sub: Non compliance of response from M/s Monarch Project and Finmarkets Ltd., SEBI Regd. No. INB230647033 of emails dated 28.1. 31.1. 14.2. 19.2.2011 and 22.2.2011 about
Clearance and justification of the Fraud and Manipulated Accounts.
Complaint of the above has been launched with the office of the Police Commissioner, Surat. Complaint No. 1031 dated 22.2.2011
Ref: Client Code SU 0076.
Dear Sir,
On 21.09. I had opened Shares account with consultation with Mr. Dhaval Chauhan, Relationship Manager, Monarch Projects and Finmarkets Ltd and deposited Rs.10, 000.00 vide cheque drawn on Union Bank of India cheque No. 46930 which was cleared on 23.09.2010. My Account No. was SU 0076. The Accounts was opened and operated from 2.11.2010 after a delayed of more then a month. Since then the shares of Coal India Ltd was allotted to the accounts on 4.11.2010. Till 30.11.2010 the accounts was smoothly operated with his consultation.
On 30.11.2010 and thenafter, As per the records submitted (copy enclosed), they had oversold 23 shares of ABAN LLoyd, 40 shares of LIC Housing Finance and hence it was AUCTIONED and I had incurred huge losses.
With surprising they had purchased 30 shares of JET AIRWAYS in AUCTIONED and has sold the shares at a lower price and incurred huge losses.
Then after they had sold all the available shares in the accounts without the permission of the undersigned and incurred huge losses.
After getting the Accounts from Mr. Dhaval Chauhan, I informed him orally on phones and through e-mails to clear the accounts which are Fraud and Manipulated. I had also e-mailed to Monarch Projects and Finmarkets Ltd on [email protected] at its Ahmedabad office and [email protected] and [email protected] at its Surat office, but till date I had not received any response from them. Since last one and half month Mr. Dhaval Chauhan was also making fool to me saying he is out of station, attending meetings, attending marriage ceremony, etc... and neither turned up. Presently on inquiry it was noticed that he had left the job with MONARCH PROJECT and has joined a Share Broking Firm – M/s Prabhudas Lilladhar Pvt. Ltd., UG 6-7, Ascon Plaza, Nr. Bhulka Bhavan School, Anand Mahel Road, Adajan, Surat.
M/s Monarch Project and Finmarkets Ltd has failed to serve their clients in all respects and Looking to all the transaction, it seems the accounts are also manipulated and are fraud and the customers are cheated by them.
I look forward to your action in the above matter.
Prashant Shroff
c.c. :
Mr. Dhaval Chauhan, C/o M/s Prabhudas Lilladhar Pvt. Ltd. UG 6-7, Ascon Plaza, Nr. Bhulka Bhavan School, Anand Mahel Road, Adajan, Surat. at [email protected]
Monarch Project and Finmarkets Ltd., 102, 21st Century Building, Nr. Udhna Darwaja, Ring Road, Surat 395 002 at [email protected]
Monarch Project and Finmarkets Ltd., Monarch House, Opp. Ishvar Bhuvan, Nr. Commerce Six Roads, Navrangpura, Ahmedabad 380 009 at [email protected]
Prashant Shroff Kalashripat's Pole,
President: Shri Samasta Lad Vanik Mandal, Surat Opp. Yamunabaug,
Past President: Surat Metro Jaycees Chautabazar, Surat
Date : 22.2.2011
To,
The Hon'ble Police Commissoner
Surat City, Surat
Dear Sir,
On 21.09.2010 I had opened Shares account with consultation with Mr. Dhaval Chauhan, Relationship Manager, Monarch Projects and Finmarkets Ltd and deposited Rs.10, 000.00 vide cheque drawn on Union Bank of India cheque No. 46930 which was cleared on 23.09.2010. My Account No. was SU 0076. The Accounts was opened and operated from 2.11.2010 after a delayed of more then a month. Since then the shares of Coal India Ltd was allotted to the accounts on 4.11.2010. Till 30.11.2010 the accounts was smoothly operated with his consultation.
On 30.11.2010 and thenafter, As per the records submitted (copy enclosed), they had oversold 23 shares of ABAN LLoyd, 40 shares of LIC Housing Finance and hence it was AUCTIONED and I had incurred huge loss.
With surprising they had purchased 30 shares of JET AIRWAYS in AUCTIONED and has sold the shares at a lower price and incurred huge loss.
Then after they had sold all the available shares in the accounts without the permission of the undersigned and incurred huge loss.
After getting the Accounts from Mr. Dhaval Chauhan, I informed him orally on phones and through e-mails to clear the accounts which are Fraud and Manipulated. I had also e-mailed to Monarch Projects and Finmarkets Ltd on [email protected] at its Ahmedabad office, but till date I had not received any response from them. Since last one and half month Mr. Dhaval Chauhan was also making fool to me saying he is out of station, attending meetings, attending marriage ceremony, etc... and neither turned up. Presently on inquiry it was noticed that he had left the job with MONARCH PROJECT and has joined a Share Broking Firm – M/s Prabhudas Lilladhar Pvt. Ltd., UG 6-7, Ascon Plaza, Nr. Bhulka Bhavan School, Anand Mahel Road, Adajan, Surat.
Lastly I had phone called Mr. Dhaval Chauhan saying I will write to the police commissioner about this cheating but he has not turned up.
Looking to all the transaction, it seems the accounts are manipulated and are fraud and the customers are cheated by them.
I look forward to your action in the above matter.
Prashant Shroff
c.c. :
To,
Mr. Dhaval Chauhan, C/o M/s Prabhudas Lilladhar Pvt. Ltd. UG 6-7, Ascon Plaza, Nr. Bhulka Bhavan School, Anand Mahel Road, Adajan, Surat.
Monarch Project and Finmarkets Ltd., 102, 21st Century Building, Nr. Udhna Darwaja, Ring Road, Surat 395 002
Monarch Project and Finmarkets Ltd., Monarch House, Opp. Ishvar Bhuvan, Nr. Commerce Six Roads, Navrangpura, Ahmedabad 380 009
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