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Religare securities

Posted bySudhir Kumar 
Organization / Product Details
Organization Name
Religare securities
Organization e-Mailmodinagar@religare.in  
Product/Service Description
Warranty Status
Complaint Details
Reason for Complaint 
Complaint Rating10(in a scale of 1 to 10)
Name of the Company EmployeePraveen  
Complaint Details

Dear Sir


I opened a Demat account with religare securities PVT LTD at Modinagar Branch in November with your ambassador Mr. Praveen. I

was very new in this field.

In the very first month I knew that there is something wrong going on with this firm while I saw Praveenís attitude that he doesnít

Know how to deal Client.

I started trading with Rs 20,000/- and later I had deposited 10,000 more + 10,000 Profit of first month. So my total amount was

40,000.

One day he asked me for a cheque of 28,850 due to payout payment. So I gave him the same cheque and he updated my amount as

Rs 70,000/- approx. so acc to that I can use my full value for delivery based trading.

Now from 2nd Jan 08 scene is going to be clear while market dropped down

Pre January I had been used my total amount + margin (1.3 Lac approx.) and buy some shares but due to market crash-down, Praveen

called me to sell some of my stock because company was not providing the margin for extra amount to trade.

I was in my office at that moment so was not able to give him cheque. I request him that I will give him the cheque in the evening but

he didnít agree and he sold some stock near about Rs 60,000/-

I think That was not very much wrong from my point of view also.

After all that I have near about Rs 64,000/- s stock in my account till 20 Jan Ď08 which I can hold as delivery.

But when I checked my CRN account online at 26 Janí08 I was shocked that account showed Rs 508/- only.

So Praveen sold my rest of the stock without informing me (although I have mentioned 2 phone number and one Mail-id as well)

This is very ridiculous thing which I wanted to mention against Praveen.

So for confirmation I went there & he told that they did have the amount of 28850/-.

It means that they are sitting on the cheque for one month and expecting that it will cash automatically.

Now please explain what should I do against religare as this is the fault of their End .

Waiting for your quick reply.



Regards,
Sudhir Kumar
09968040693
Sudhir.kumar@igate.com

welcomesudhir@gmail.com
 

Solution of your complaintas i am very new in this field so i can not say what should i do? please suggest what would be the best? 
Actionthey delayed the cheque everytime as i think this is not my fault because i have given the cheque and required amount would be in my account. neither my cheque had gone bounce. this is the religare fault that they were sitting on the cheque and at this crusial time they are imposing his fault on me. so i can go for consumer court. they are still sitting on the cheque but now i am not ready to give him a chance to get the amount so i withdrawl my all money from my account. 
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