FRAUD BY INDIABULLS SECURITIES

1. I am a army officer, presently posted to Delhi.

2. In 2005, I had an offline trading account with Indiabulls securities Ltd,Law college road branch, Pune and my account no is CPU1070. The relationship manager was Satyabrata Dash.

3. I had holdings worth about Rs 55,000/- at that time.

4. I had gone on leave for 20 days in june 2005.

5. On return from leave I placed an order for selling of Wipro shares held in my account amounting to about Rs35,000/-. I was told that the payment for the same will be received by me in 3 working days.But even after repeated reminders no money for the shares sold was given to me, and whenever asked for was told that I'll be receiving the money in some time.

6. Finally, I approached the Zonal manager of Indiabulls securities, Mr Sisir Mohapatra and reported the matter.

7. It was then told to me that there was no amount due in my account, as there had been trading carried out in my account without my permission and knowledge leading to the loss of entire amount of Rs 55,000/-.

8. I told him the entire case, but nothing was done to retrieve the money or shares as due, nor was any action taken against the employee responsible for this.

9. I then lodged a complaint in NSE and BSE about the same. BSE had turned down the case and given it in favour of Indiabulls as there was no attorney from my side and it was not possible for me to go and attend to the case due to service commitments. However, there has been no judgement given by NSE till date in the ibid matter.

10. I then approached the civil court and lodged a court case against them in Delhi High court. Its been almost one and a half year and we have hardly had four dates for hearing but nothing has been done and also now they have projected for the case to be dealt with by an arbitrator according to some clause.

11. This case ideally is a case of fraud, forgery , and breach of customer relationships.

12. I have already undergone a expenditure of Rs 25,000 on account of court fees and arbitrator court will again be

same.Help me retrieve the losses borne by me due to fraudility by the Indiabulls Securities....

13. This is the third mail I have written to you and I have got lot of faith and hope in you, please spare some time for me and suggest me a way out of this. My contact no is 09953596595 or 01125683223 or 01125688705.

14. Awaiting a prompt and positive reply.

regards

--

Major Udit Jain

Comment On This

HARASSMENT & TORTURE BY INDIABULLS TO EXTRACT EXTRA MONEY.

I had taken personal loan from Indiabulls of Rs.25,601/- on 25/5/2007 and repaid Rs.22600/- but just default in one of my EMI of Rs.1800/- ,Indiabulls misused my blank security cheque by filling false amount of Rs.28,249/- and they also misused my blank signed loan agreement by filling false figures of 30 installments instead of 24 (Usurious rate of interest more than 60 % p/a.), denied the receipt of some amount debited from my bank. Even though I tried to settle the dispute by offering reasonable amount pending principal amount and interest amount but to extract extra money from me Indiabulls has filled bogus cheque bounce case against me in Patiala House Court, New Delhi. As it is tough to defend the false cheque bounce case traveling from Mumbai to Delhi, Indiabulls forcing me to pay Rs.33208/- plus uncharged interest. To extract the money company filled thousands of cheque bounces cases in Delhi Courts. In spite of my several complaints to RBI against India bulls , RBI not taking the matter seriously and protecting Indiabulls by neglecting all my complaints. The whole system is working with Indiabulls. To earn huge money Indiabulls bring the thousands of poor borrowers to suicidal point. Financial Company openly violate the fair business practice guidelines given by RBI.

kdayaldasj AT gmail.com 09322544941

LINK:- http://www.mid-day.com/news/2009/feb/020209-Indiabulls-Securities-Limited-investors-Delhi-news-alleged-fraud-selling-shares-without-info.htm