Misuse of Money by Security House

My father has an account with IL&FS, IE Road, Northern Town, Bistupur, Jamshedpur-831001.His DP ID No is IN 300095,Beneficiary ID is 10003971.

He had paid 135000 to the security house to purchase shares by the following cheque nos of UCO Bank-Gamharia- Cheque No-519502 Rs. 10000, 519503 Rs. 90000 and 519515 Rs. 35000.

In the month of April 2008, we came to know that his account has a negative balance. We were not aware of the transactions being made. Neither the broking house nor his trader ever sought his permission before buying or selling shares. We were totally in dark about the whole episode. It was only when we went to IL&FS in April, did we come to know that his account has eroded.

He had been allotted 17 nos of Reliance Power shares. But now when he wants his shares back, the broking house says he will have to pay Rs. 10000 to them because the account has a negative 10000 balance.

I also have a trading account with a Broking Firm.My relationship Manager gives me calls on a daily basis before buying or selling any share.And the whole conversation is recorded. This is not the practice with IL&FS. The way they have traded with my father's money shows that the mere intention was to earn some brokerage and nothing else.

I would like to inform complaints.com very politely that how could IL&FS trade with my father's shares without his knowledge? Why have they seized his Reliance Power Shares? How can he get his money back?

We have also lodged a Complian with SEBI today with a copy to IL&FS Jamshedpur and Mumbai.

Kindly help me out with this situation. My father's hard earned money has been played with by IL&FS just to earn some brokerage.

Please help me in this regard. I would be highly obliged to complaints.com.