Dear Sir,
Through your esteemed forum, I wish to highlight the vulnerability of poor investors like me in the hands of trading members. I am holding Demat A/c No. DP Id/Client Id: 1204470003482863 with India Infoline Ltdwhich was opened only in Aug. On 26/09, the Relationship Manager Mr. harpreet Singh at Janak Puri, New delhi branch of India Infoline Ltd purchased OPTIDX NIFTY Oct 29 4300.00 CE @ Rs 62 of total value Rs 266, 600.00 in my Trading account (UCC: BLR12345) without my instructions/request. This was promptly brought to the notice of the trading member the very next day on 27/09 vide complaint no. 27181. Though the broker has verbally conceded that it was a mistake on part of their employee but they have refused to rectify it. I have submitted written complaints to the concerned authorities like NSE and SEBI. Despite the complaint being pending, the India Infoline sold shares lying in my Demat account on Oct 8 worth for Rs 238687/- and again on 20/10 for Rs 29148/- misusing the Power of Attorney. I am a retired teacher suffering from immense psychological stress and mental trauma because of the above illegal trade. I have never traded in the derivative segment, as I am not conversant with the same. Almost all the shares in my Demat Account are allotted in the Public Issues. I have been cheated to the tune of Rs 270000/- of my hard earned money because of the unauthorized transaction. I am running from pillar to post to various authorities but with no desired result. I therefore request you take up the matter with the India Infoline and redress my grievance. Also, please caution the investors to take precautions for unauthorized transaction in their accounts.
Regards,
Babu Lal Rustagi
R/o D-116, Raj Nagar-II
Palam Colony,
New Delhi-110045
Ph.: 9871051251
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