Sep 21, 2012 09:38 PM
9373 Views
It is the sad state of affairs that despite the regulatory control and various regulations the stock brokers like Angel Broking have attiMr_customtakeouter of DEVIL MAY CARE. This has been demonstrated in my case.
On noting unauthorised transactions made in my account, I vide e-mail dated 16.8.2012 informed Angel Broking Ltd about the unauthorised trading done by their executive in my ID: CP5058 on 14.8.2012. But nothing has been done by them despite various follow by my husband with the officials at CP Branch rather to cover up the wrongs at their end, they are seeking the confirmation of the trades to validate and legalise the act/conduct of the CP Branch executives.
It may be mentioned that their executives have of their own without any instructions or my consent have executed the transactions in my account which has admitted by their executives but are not willing to give in black & white. It is further surprising to note that the transactions in the Future & Options(F&O) segment have also been done, when I have no understanding of it and have given no instructions to trade in F&O.
Not only this, I am also surprised to receive the statement wherein they have levied the account maintenance charges which is against the representation of Angel Broking Ltd given at the time of opening the account that their will be no charges for maintenance of the account. Thus, the levy of maintenance charges by Angel Broking Ltd amounts to Unfair Trade Practise(UTP).
Further, this act of conducting unauthorised transactions of their executives and seeking the confirmation of the trades to validate and legalise the act/conduct of the CP Branch executives which I have refused to confirm(as I did not authorise to execute the transactions) has resulted in suspension of the account for a month. Further, on my informing the same nothing has been done in the matter till date despite my repeated follow up on the phone and various visits to their office, which has caused undue harassment, mental pain and agony.
I request to all readers who want to open trading account with Angel Broking PLEASE NEVER OPEN AN ACCOUNT WITH ANGEL BROKING, They are big cheaters
If anybody wants more details on unauthorised trading in my account please talk to my husband on 9871158211.
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Communication with Angel Broking are given below:
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Subject: [Feedback ID: 1608120119]Complaint client code # CP5058
From: Feedback(feedback@angelbroking.com)
To: mukesh22k@yahoo.com;
Cc: aashish@angeltrade.com; Ritu.Behal@angelbroking.com;
Date: Friday, August 17, 2012 7:11 PM
Dear Ms. Rani,
Greetings of the day.
This is with reference to your email dated 16/08/2012 regarding trade in your account.
As per our telephonic conversation and post our investigation we would like to inform you that trades executed in your trading account on 14/08/2012 under NSEFO & NSE segment were carried out with your consent and the same was informed to you by dealer, also you have received trade confirmation sms and contract note in your registered mobile number and mail id.
Further, we would like to inform you that Angel offers advisory services however final decision and
consequences based on our information is solely yours.
Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments.
To conclude, it can be noted that Angel is not be responsible/liable for any losses in the mentioned transactions.
We are therefore closing the complaint at our end.
Best Regards
Ashish Kukreja
Senior Executive - Quality Assurance
Angel Broking I https://angeltrade.com
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From:-mukesh22k@yahoo.com Sent:-16/08/2012 09:08:32 To:-feedback@angelbroking.com CC:- Subject:-Unauthorised trading by angelbroking executive in ID: CP5058 on 14-08-2012 Feedback ID:-1608120119
Dear Sir/Madam
My account ID is CP5058. I open this account for online trading. On 14-08-2012 your executive Mr Akshay Ratan done unauthorised trading from my account. I strictly told him that I am not interested in phone trading. I receive a call from angelbroking in evening on same day to confirm trading during the day, I told him that I did not trade on that day. Kindly look in that matter.
Seema rani
w/o Mukesh Kumar
Ph 9871158211
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IInd Reply from feedback after one month on unauthorised trading in my account
FROM:Feedback
TO:mukesh22k@yahoo.com
Wednesday, September 12, 2012 5:18 PM
Dear Ms. Rani,
Greetings of the day.
This is with reference to your email regarding trade in your account.
Further to verification of our records, we would like to inform you that our stand remains the same as replied in our previous communication.
Thank you for giving us the opportunity to serve you.
Best Regards
Ashish Kukreja
Senior Executive - Quality Assurance
Angel Broking I https://angeltrade.com
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