Commented on abhijeetvj's review
Jul 30, 2013 06:08 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how hi...s life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. ( http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
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Commented on kamalramesh's review
Jul 30, 2013 06:08 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how hi...s life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. ( http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
Read More
Commented on own review
Jul 30, 2013 06:08 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how hi...s life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. ( http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
Read More
Commented on own review
Jul 30, 2013 06:07 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how his ...life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. (http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
Read More
Commented on own review
Jul 30, 2013 06:06 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how his ...life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. (http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
I went to District Consumer Forum. I have never been to any court in my life up until then. My lawyer lost the case. Most lawyers do not even know what demat is. I weRead More
Commented on rampenn101's review
Jul 30, 2013 06:06 PM
Wiped out by Motilal Oswal, an aggrieved small investor won in consumer court but got shafted by SEBI
NareshJagadeesa G CharyDayananda Kamath KPpmNsriramamurty63 comments+ COMMENT
WING COMMANDER (RETD) CR MOHAN RAJ | 25/09/2012 06:12 PM |
An army officer narrates his harrowing tale of how his ...life savings got wiped out at Motilal Oswal, his victory in consumer courts and how SEBI took the brokers’ side despite clear grounds of fraud and forgery. And SEBI is supposed to protect investors’ interests!
The very first sentence in The Securities and Exchange Board of India (SEBI) Act, 1992 states as follows:
”An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto”.
Has SEBI lived upto this? Or does it work for the big guns of the industry. Hear my story and you be the judge.
I opened an account with Motilal Oswal Securities (MOSL) on 14 February 2006. Three months later, by 26 May 2006, I got wiped out. I had become a victim of unauthorised trading. I signed NO delivery instruction slips and yet my stocks were sold. I still wonder how! The broker will not tell me how he managed to dispose off my stocks without my authorisation/delivery instruction slip. My life savings were liquidated. I was seriously considering suicide. It took me two years to come out of the shock and the consequent severe setback to my health. Even to this day I am unable to comprehend how a broker can do it so audaciously and still get away. Unbelievable but true.
SEBI is fully aware of such a rampant practice and has issued a notification about it a year ago. (http://www.sebi.gov.in/cms/sebi_data/attachdocs/1314271320898.pdf )
I went to District Consumer Forum. I have never been to any court in my life up until then. My lawyer lost the case. Most lawyers do not even know what demat is. I weRead More
Reviewed Motilal Oswal Financial Services
Jul 30, 2013 06:03 PM
15302 Views
I Have a trading account with Motilal Oswal, recently I had a login problem with my registered bank account registered with Motilal Oswal.
I called up back office to immediately send some one to collect a crossed cheque and add another account, they replied that it will take 4-5 day to add an...Read more
