Indiabulls Securities Ltd
Fraud case

We have a demat account with indiabulls (Pathankot, Punjab Branch) A/c No 446276. We purchased some shares on available limit on 22nd January and gave a cheque payment (Rs. 130000) to Indiabulls on 24th January for the same. The amount was debited from ICICI saving bank account on the same day. However the same has not been credited to the demat account and the demat account is showing a negative balance the said amount.

As per the statement of the manager Vikas, Indiabulls in not responsible on uncredited amount and will square off the shares on 30th January.

This is a clear case of fraud by Indiabulls where Indiabulls is using the customer money for 6 days and then also forcing the sale of some shares from the customer account.

Company: Indiabulls Securities Ltd
Country: India

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