Oct 19, 2020 05:09 PM
2755 Views
(Updated Nov 01, 2020 12:17 PM)
I contacted Edelweiss Securities/Broking Ltd in July2020 for an investment plan on a specific safer fund but I ended up getting defrauded by Edelweiss frauds with well planned. Lodged a complaint with SEBI also and it is still uncared for.
Edelweiss frauds are being accused for following reasons as those are my transactions since July till date and suggest to deal with Edelweiss frauds carefully or evenbetter not to do business with them to avoid getting cheated!
Defrauded me on availability of stocks(I deposited funds in their account only when edelweiss confirmed availability. But it wont take 2 months to confirm as no-stock again and till then keeping my funds in their account simply)
Non-transfer of shares to me(as their intention was to keep my funds with them for 2 months and not investing)
Non-receipt of my refund in acceptable time(cant imagine no correspondence from them whatsoever in those 2 months and upon no-stock they havent immediately refunded my funds either)
Loss of my own income/interest(edelweiss silently kept my transferred fund for 2 months for nothing but they are actually earning interest on their side in their account over my deposited funds and I could have invested somewhere else in that time)
Wrong intentions of conducting transactions(no regulated financial firm should keep unaccounted money in their account for 2 months)
Negligence of grievance redressal and no accountability of investors loss(it has been 2 months follow up by me and approx. one more month by SEBI also. and unnecessarily made me to contact all their support/management levels even to get my own refund)
Falsified responses to SEBI(as if no-stock is the reason and as if they in contact with me to compensate my loss etc but it is all fabrication)
SEBI has given license and regulations to edelweiss to conduct financial business. But we dont think all the above constitutes of doing a business with regulations. Edelweiss doesn’t seem to give a damn to resolve the concerns responsibly and take accountability for all the above and "compensate my financial loss" due to the way they conduct business without regulations.
