In the year 2004 the Relationship ManagerTRILOCHAN SAHOO, approached me to open an online trading Account with INDIABULLS SECURITIES LIMITED to trade in NSE, SAHOO ASSURED ME TO CHARGE LOWEST BROKERAGE, BUY TODAY SALE TOMORROW, TIMELY TRANSFER OF SHARES AND CASH AS PER T 2 SYSTEM, TIMELY SUPPLY OF CONTRACT NOTE AND STATEMENT OF ACCOUNT, TIMELY SUPPLY OF DELIVERY INSTRUCTION SLIP, INTER DEPOSITORY INSTRUCTION BOOK, DP TRANSACTION STATEMENT ON FORTNIGHTLY BASIS AND easi Registration, accordingly I signed the Client-Member Agreement, DP Opening Agreemnt, and Power of Attorney form and categorically told Sahoo I dont need finance as my share value more than eighty five lakhs to which Sahoo agreed.
After allotment DP Account Sahoo asked me to transfer shares from my wife account in order to trade, unfortunately and to my bad luck I transfer the shares worth Rupees EIGHTY FIVE LAKHS to the DP of Indiabulls, then after Sahoo started trading in my account both in NSE and BSE without my knowledge. When I asked for the DP tranaction stement, Delivery Instruction Slip Book, and other papers and enquired how could you dare to trade in my account then after he remained absent. The Regional Head Mr. Prasunjeet Mukherjee visited Bhubaneswar on 20th October under the instruction of Sameer Gehaulut, Chairman and Gagan Banga, Director. Mr. Mukherjee agreed to settle my claim and admitted their fault and for the first time in Broker's history given in writing to settle my claim. Then after he visited me more than twenty time and Gagan spoke to me once in every month but failed to settle my claim.
When I complained to CDSL, starting from the President, Managing Director and other officials of CDSL admitted the fault and arbitrary act of Indiabulls, but so far no action
CDSL sent me the copy of agreement and Power of Attorney, after receiving the same I was shocked as they put fraud/duplicate signature of witnesses on Power of Attorney and Client Member Agreement etc even the Power of Attorney form is self manufacturing/duplicate where they put my wife's signature after my complain to SEBI they changed the form.
I am a aged man of 55 years old, Indiabulls illegally, unauthorisedly and against SEBI Rules taken away my entire life long earning of Shares valuing more than EIGHTY FIVE LAKHS.What I found CDSL and SEBI directly supporting the criminal activities of Indiabulls.
Now I lost faith on the law of the soil, I wrote thousands of letters and sent lakhs of mails to SEBI Chairman, CDSL authorities under copy to Finance Minister and Prime Minister and Members of Parliament but so far no action
Braja bandhu Behera, Advocate
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