M/s. Sharekhan Ltd
Retention of my money

I had opened an trading a/c. vide client ID-19720139 & branch ID 100099 in M/s. Sharekhan Ltd in the month of March ’11 with an initial amount of ` 30000/-. In the meantime my mother had a heart attack and therefore doctor recommended for immediate by-pass surgery. After two months i.e. in the month of May, I called up my broker and to start investing in some of frontline stocks with the existing amount of Rs. 30000/- . Their reply took me on surprise that the money I had invested is only advance brokerage & I have to push additional 1-2 lacs to trade. I dropped to local office in Jamshedpur and asked to close my account and return back my money, their reply was much more surprising as the money I had invested is non-refundable.

Now I felt that the Sharekhan has cheated me with using unfair trade practices method as they showed me their pamphlet about attractive brokerage scheme there they had not mentioned of non-refund money in the scheme. They tactfully got my signature in 30 pages prospectus.

Suddenly last week I had a call from mobile no. 09833763700 that your scheme has only 07 months left to cover up the brokerage. Since I am middle class salaried slab I am nowhere near to this type of scheme. I requested them to change to other normal scheme if any, so I can place order with the existing money. My repeated request gone vain and they said it’s our discretion only we can change this scheme.

Points

1) They well know of my financials on the time of opening account.

2) They never told about terms & condition of this scheme and misguided by showing fraud pamphlet

3) They know well even not trading or achieving the limit they can retain the customer’s money

I request you to rescue me from the trap they laid and return back my money.

Company: M/s. Sharekhan Ltd
Country: India
State: Jharkhand
City: West Singhbhum

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