Dear Sir,
We have recived a debit not from Indiabulls
With reference to the letter Sl. No.4966 for payment of dues for Rs.41, 938/-, we would like to inform you that after we recieved the letter we followed the issue with our RM and asked about the daily margin report for January month. He has provided the data from 17th January only.
As per their system which has to carryout squaringoff the positions once the margin reaches the 80% level. The RMS (Risk Management System) will square of the position. This was happened many times in our other account.
But they have not done it delibretly for few days before the maket crashed.
I am not only the person there are many clients who are facing the problem and they are forcebily collecting the payments from clients and sending the Lawyer notices for which client is not at all responsible.
Relationship Manger he himself agrees that its there RMS mistake.
The details are...
Margincall daily reports details
1st Jan to 16th Jan no details were given.
17th Jan&--161% here itself your RMS has to square off the position at 80% but not done.
18th Jan&--88% here itself your RMS has to square off the position at 80% but not done.
19th & 20th Holiday
21st Jan&--94% here itself your RMS has to square off the position at 80% but not done.
22nd Jan&-922% here you have squared off our position.
By not providing the earlier margin call reports from 1st to 16th Jan and squaring off the position at 922% looks somthing fishy.
Please help us in this regards...
Regards,
Santani Ramakrishna
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