I am Sudha Kamdar, I am 70 Years uneducated widow woman. I was working with stockmarket through NBFC Action Financial Ser, Client ID 405564 BSE, 405564 NSE
Company has issued me bogus contract note. so I complained to BSE. BSE was not responding Because of broker is big gunda so i complained to finance ministry against BSE. So BSE take action on Company and varified contract note and stated that contract note is bogus and make penalty of One lakh to company and order to pay amount.
So to save from suspension from trading, company has send Two Demand draft Rs 1150000 and 100000 of ICICI Bank, capital market branch mumbai-1 in favour of Sudha kamdar and Hetal Kamdar of RS, 1150000.00 & RS, 100000.00 through courier.
We have deposited these draft in our account with Axis Bank. Axis bank has given credit in our accounts as per high value clearing on 4-10.
Company has made wrong deed of imdemnity of Draft and given to ICICI Bank MUMBAI at six o'clock so ICICI Bank informed to Axis Bank that Amount is credited in UNKNOWN BENEFICIARY so Axis bank has withdrawn amount from account at 7.37 P.M. on 4-10-07
Axis Bank has returned the amount Rs. 12, 50000 .00 ON DATE 4-10 . Draft return BY ICICI BANK SURAT mark of, "refer to drawer"
ICICI bank capital market branch mumbai-400001 cancled the Darfts on basis of bugus deed of imdemnity and gave credit of Rs . 12, 50000.00 IN ACCOUNT OF ACTION FINANCE COMP. LTD..
Company have received back amount of Draft in his account. ICICI bank has given amount to company without getting original demand draft and on basis of bogus Deed of Imdemnity. on date 4-10
we complain at BSE & NSE
So we complained at RBI and said that Draft are not stollen and no any police complain for stollen draft.
Meanwhile we further deposit our draft in Axis Bank 19-11 but it returned with stop payment mark.BY ICICI SURAT BRANCH
Due to complain at RBI and drafts are not stollen, ICICI bank was looking to account of company when they found enough balace IN ACTION FIN. ACCOUNT than bank withdraw amount and given notice for wrong Deed of Imdemnity.on da. 11-2
Mistake is done by ICICI Bank so ICICI Bank has taken amount from company ACCOUNT NO.000405031963 and ICICI Bank issued us new demand draft at that time ICICI Bank becoming self drawer of draft.
Drafts having date of 21-2 and ICICI Bank have issued us on da. 23-2 saturday 4 p.m. to give time to company & action finance to take stay order on demand draft on date 25-2 MONDAY
SURAT COURT HAS ISSUED STAY ORDER ON DEMAND DRAFT. WITHIN TWO HOURS ON DATE 25-2 WITHOUT WATCHING DOCUMENTS.
surat court see NO F.I.R. OF STOLEN DD . ICICI BANK capital market branch mumbai search out Action finance company fraud issue and gives notice to MILAN PAREKH . Milan parekh fail for reply about bogues deed of indeminity . surat police station gave certificate that NO F.I.R. OF DEMAND DRAFT . At that time bank assume that icici bank become foolish on date 4-10 by milan parekh. BANK NOTE THAT THIS PAREKH GROUP BE DEFAULT & GUJARAT BASE MADHAVPURA BANK CLOSED DUE TO KETAN PAREKH GROUP.
ICICI Bank got all correct details and bank note his mistake. SENIOR STAFF IMPROVRE THE MISTAKE & BANK BECOME SELF DRAWER TO ISSUE THE NEW DEMAND DRAFT ON DATE 21-2 ON BASE OF ACTION FINANCE FRAUD.
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We deposit these draft in AXIS BANK on date 25-2 but demand draft are return due to surat court stay order.
Now stay order is removed by court ON DATE 19-12
Court has further ordered that amount of draft can not taken by company and holding status of draft will remain continue with draft holder Sudha Kamdar and Hetal Kamdar.
ICICI bank is not revalidating these draft because MILAN PAREKH IS BIG GUNDA. BOMBAY STOCK EXCHANGE STAFF FEARED OF MILAN PAREKH. BSE CAN NOT SAY TO IMPROVE THE BOGUES CONTRACT, When sudha kamdar complain to finance minister. FINANCE MINISTER ORDER TO BSE, & BSE GAVE PANALTY OF RS. ONE LAKHS AFTER 7 YEARS. NOW THINK ABOUT BROKER MILAN PAREKH FRAUD IN ICICI BANK & who give bribe & who accept the bribe this great question. Its is very danger for NATION. ICICI BANK Manager know THE ACCOUNT OF ACTION FINANCE SERVICE LTD is running under NBFC &-NON BANKING FINANCE COMPANY RULES . All NBFC register umder RBI RULES
NBFC HAVE NO RIGHT TO STOP PAYMENT OF CHEQUE & DEMAND DRAFT .
Drawer of draft have authority to revalidate draft and ICICI Bank is Drawer of draft. SO ICICI BANK MUST BE REVALID THE DEMAND DRAFT
Any NBFC can not make stop payment of draft but though ICICI BANK have made stop payment.
ICICI Bank have accept the BOGUS Deed of Imdemnity after banking hours and made stop payment.
Axis bank has withdrawed amount from our account after completing all work of clearing house.
ICICI Bank can not give amount back to companies account with out collecting draft or proof. on date 4-10
ICICI bank has given us new draft after two days and why they given time to company for stay order.
ICICI bank staff and Company Action Finance have good relation with each other.
Action Finance has issued us draft to save from trading suspension only and they have showed BSE that we have paid and we complained at BSE than BSE says that it is matter of court.
I am strugling with this company since 8 years to get back my amount.
Both NSE and BSE are not taking action on Company.
Company has Cheated so many customer.
NBFC can not make Stop Payment of Demand Draft.
I haveTotal due rupees 1.5 corer from Company.
How Company has made fraud:
A. Fraud at National Stock Exchange Account:
1. As per our selling of shares and as per bill no GE49/549023, our actual credit is 1397140.30 but company shows only 280985.30 credit in ledger, by fraudulently transfer company swallowed Rs 1116155.00. Contract note of this bill are verified by NSE Though Exchange and Company fails to pay amount and correct ledger.
2. 4000 shares of Tata Steel given as a margin deposit to company. Company sells these shares without informing the client, company sells these shares in others account though no need or requirement of payment in acount and company has not credit this amount in our ledger. Company has not issued any contract note or bill to us.
3.Company has not credited Rs. 150000 send by Demand draft.
4. Broker has issued purchased contract note of Mahindra and Mahindra. Rate shawn in contract is higher than actual it is verified by NSE.
It is matter of fraud but though NSE is not able to give us amount. NSE staff are corrupted. M.L. Soneji at NSE who is controller is suspended.
B. Fraud at BSE Account
1. Company issued contract note of selling 600 shares of Grasim Ind. at rate 315, with out trade no and trade time. but on that day low price and high price of Grasim share was 408 and 430, so selling at rate 315 is not possible. Broker issued forge contract
2. Company put a trade of purchasing of 7000 shares of pentafour software with out trade no and trade time, moreover company shows trade done on single stroke (at one rate and in one trade) trade value 10832850.00 and company put another trade of selling 7000 shares of Pentafour Software but again company put this trade with out trade no and Trdae time on single stroke trade value 9335550.00 by this forge and base less contract company swallowed rs 1497300.00 In actual this trade was not done in Exchange. Bse exchange has varified this contract and given penalty of Rs one lakh to the company.
BSE staff is also currupted not taking action on company,
Company is Depository Participant and i have account in it, so company should transfer shares purchaed by me in my account, but company never transfered shares in my account.
So please kindly take hard action on Company Action Finance.
My matter is very clear and easy understandable.
Director of company Milan Parekh and Bakul Parekh are in close relation with Ketan Parekh.
Directors knows very well how to supress clients complain at BSE and Nse.
Both exchange are very bad for public grivences, if any person makes complain against big brokers like India Bulls, India Infoline and others than both exchage will not reply or discard complain by giving one two reply. Both exchange never issues Trade file if one demands and made trading with India Infoline or India Bulls. Both exchange staff are sold with marginal amount.
I have complained at SEBI for this Company in personnaly but not received any reply.
If any company make very big fraud than also exchange make minimum penalty only. Than what will be of victims?
Please kindly order to ICICI Bank and Action Finance for revalidation of draft and give my amount.
Please help me to get back my remaining amount from Action Financial company Limited.
I have all documents and related proofs.
Thanking you
Sudha Kamda
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