Motilal Oswal Securities Ltd
Loss due to technical fault

Dear Sir,

With concern I am to write you that because of your technicval problem frequently I am facing problem and sustaining loss. I am placing the problems of 01.07.2011scripwise as example for your information and remady as follows:-

SUN TV: I purchased 150 nos. of equities on 27.06.2011 from NSE and have sold 150 on 01.07. But Trading report of that day says 100 nos. of SunTV sold in BSE, FNO pledge stock report says 150 sold and available quantity 0 and Net position says 100 sold @ Rs.355.83 and 50 sold @ Rs.359.35. On 30/6 and 01/07 I tried to sell the entire stock at higher rate but system did not allow me to sell with a report that does not hold sufficient stock in NSE. I was bound to sell 100 nos. of stock in BSE at Rs, 4. less than NSE rate as this was the last day of margin plus selling. BO report also reflects 100 available quantity.

PATNI COMPUTERS: On 27.06.2011 purchased 100 nos of equity and sold 86 on 01.07.11. But Trade Book only reflects of intraday transactions, not of delivery selling of 86 nos. BO reports reflects of 86 quantity of delivery selling in BSE. Further I requested for product conversion for 650 nos. but system did not respond and for that I booked loss of Rs.1635 Tax. and for that I was bound to purchase 600 nos. on delivery. For that I paid tax and brokerage twice.

VIP INDUSTRIES: On 27.05.2011 purchased 225 nos of equity in NSE. 28/06 sold 25 nos. in NSE. 29/06 purchased 50 nos. in NSE. 30/06 sold 25 in BSE and purchased 50 in NSE. 01.07 sold 200 in BSE and pending order is for 25 nos. I tried to cancell / modify the order for 25 but system did not allow me.

I could not understand, how the share purchased in NSE was converted to BSE.

I am facing this type of problem frequently and sustaining loss. For example on 30/05 I had purchased 500 nos of NCC EQ and squareoff before 3.15pm with loss. On that day neither the trade book nor the net position revealed the correct position and for that I had sold 100 unit extra unknowingly with an expectation to be squared off by your system. During square off suspension period I could know from the net position about 100 nos. of shsort selling but was undone. We are trading with you to earn something, not to sustain loss. But for your technical problem regularly I am facing problem.

In my account, I am putting stop loss order but this stop loss order did not execute. I contacted your service desk personnels about the procedure of putting stoploss order. But unfortunately the expressed their inability and advised me to ask them to put stoploss order at their end.

So in this context, I want to be clarified from your, whether I will continue or quite your Motilal Oswal? I will be happy to listen frankly from you about the inability if any. Thanking you.,

Pradip Kumar Patra.

ESBI 159773

pikepatra@gmail.com

Company: Motilal Oswal Securities Ltd
Country: India
State: Orissa

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