History of the case
Sir, I have started trading in cash with ISBL from 10/11 to 04/01, & in derivatives segment from 03/01 to 19/03 Excluding Unauthorized trades mention below. On 26/02 I have short sold 2 lots (750 shares) of ACC 29 March Future through savedi office at the rate of Rs.906 & 904.65 respectively. On 12/03 I went up to her for covering my short positions of above mentioned Future stocks at the rate of 780/- per lot but I was not allowed to do so without been given any valid reason. Again on 13/03 I requested them to cover my both position @740/- per lot, but I was told that there was already long position of ACC Futures in my account & it was squared off. (Immediately I had communicated to ISBL on 12/03 & 13/03), amounting to loss due to short sale Rs. 1, 23, 993.75
On further enquiring, I was shocked to know that numerous trades (unauthorized trades) had been executed in my account between 15/02 to 27/02 without my permission amounting to loss of Rs.2, 04433.83
I also transfer shares from my another DP to ISBL DP, out of that 300 UNITECH LTD.shares I have kept for F&O margin on 09/01 which I have never sold, they are laying with ISBL, which they also agreed on there letter 08/12.
I have given total Rs.1, 1- (Rs.50000/- on 04/01/07 & Rs.47000/- on 09/01/07 & Rs.15000/- on 09/03/07). I have given Rs.15000/- on 09/03/07 because I am not aware about Unauthorized trades was executed on my account from 15/02/07 to 27/02/07. this money I given to ISBL to save my IVRCLINFRA Future position which I have purchased on 28/03.
I have received Rs.73, 473.61 from ISBL (Rs.10269.61 on 12/01, Rs.25, 000/- on 01/03, Rs.38, 204/- on 03/04) –
1) Delay of Contract notes:-
1.1 Insight share brokers has not given my contract notes regularly, they gives the contacts notes ones or twice in a months, I have to personally collects the contract notes from their savedi office, they have also not send on my given address. I have also communicated to the same many times orally & finally written also on dated 08/02 & 21/02
1.2 Authorized signatures on the Contract notes not matching with the name stamp given on the contract notes (mismatching name & signatures).
1.3 I have still not received all the contracts notes after 27/02 to 19/03 that’s why I could not able to calculate correct loss & profit.
2) Not given ledger or statement copy
2.1 ISBL has not given any ledger or statement to me, because of that I was not able to
Calculate my loss or profit, this also I have communicates to the same many times orally
as well as written on dated 08/02
2.2 I have also requested to ISBL regarding the statement of account & ledger but they have refused
to provide the same
3) Not updated my new e-mail ID
3.1 The initial email ID I declared with ISBL at became inactive as such I requested them
for updating a new email id many times but the same was not updated instantaneously by
ISBL, It seems that the branch personal who was doing unauthorized trading, out of fear
of getting caught, this also communicated many times orally as well as written & by e-
mail also, on dated 08/02, 21/02 & 20/02)
NSE can check with mail provider YAHOO MAIL about my initial
e_mail ID, not a single mail has been opened from this account by me. thats why I have
requested to change a new mail ID to ISBL.
4) About the ISBL Savedi Office.
4.1 I would like to high light to NSE that the ISBL declare that they are not operating
thorough any sub broker/ Franchisee route in any part across the country, & Mrs. Sarika
S Karwande is “THE LESSOR” of SAVEDI branch. But the Form No.-16-A shows
that she had received brokerage through cheque no- 890561, 890561, 897024, 106617.
Total amount of Rs.48000/- from 09/01/07 to 22/03/07. If she is a Lessor then how she
got this payment.?
4.2 The SHOP ACT License of the SAVEDI office shows that she was a Owner of the
savedi office If she is a Lessor then how she can take license as a owner? it means they
have also cheated to Government of Maharashtra.and I can also make a police complaints
against them.
4.3 If she is a lessor then how she can sign a contract notes? I will also provide a contracts
notes signed by Mrs. Sarika S Karwande.
4.4 Mismatching of the addresses of opening & closing letter of savedi office.
4.5 ISBL has closed there savedi office after my complaints to NSE because they have done
a this fraud.
5) Not shown proofs of following items.
5.1 ISBL has not given any proofs of my Telephonic or written Instructions for the
unauthorized trades executed on my account but without my instructions. Between 15/02/07
to 27/02/07
5.2 ISBL has also not given a proofs of lessor Agreement & how they have given a payment
to her.
5.3 Who was the authorized person of the savedi office? Who can sign a contract notes?
Along with names & signatures, list of the employee names of savedi office.
6) Not received complaints (Locked helpdesk e-mail by ISBL)
6.1 ISBL intentionally Locked there e_mail - [email protected] after my
complaints to them, I was tried a lots from 14/03 to 30/03 for enquiring about my
case but they have not received my mail
It means ISBL had done unauthorized trades between 15/02/07 to 27/02/07on my account intentionally for brokerage, that’s why they have not updated my e-mail ID after given in writing. Not given contract notes, ledger & statement of accounts after given in writing also. ISBL has not transfer my UNITECH-300 shares to my account which I have kept as a F&O margin, which they are claiming on me that, I have sold that shares, I have not sold that 300 shares. Please settle my account transfer my shares on my given DP ID & please pay my balance amount to me.
If they have not sorted this case within month time I will go to SEBI & Police complaints for a cyber crime and fake shop act license against ISBL.
I am requesting you, that please inspect the ISBL savedi Ahmednagar office record & help me to recover my heavy losses. So that they will not cheat further to their valuable customer intentionally. & people can trust to SHARE MARKET & NSE.
One original copy of the mentioned letter directly send to the Trading member address & two original copies send to you.
Thanks and Regards,
Prakash J. Dhokane
“Padmaprabha” C/o Mr. Shukla,
Vrundavan Colony,
Behind Renavikar School,
Savedi, Ahmednagar (MS) 414 003
Cell:- 9822357810/ 9850745495
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