Legal Question in Consumer Law in India

loss claim due 2 non transfer of shares in dp account

respected sir, i was trader in share market at sub agent of1broker company of bombay from2005 2 jan 2008.due 2 some cause sub broker in my village refuseed me from tradind in2008jan .so i stoped my trading&reqested 2 sub broker for transfer of my shares in my demate account verbally but subbrokerdidnot transfer my shares,shares cost was that time nearly4lac,on contineuosly requested now sub broker replied me that verbaly that in ur account 25000,rsdebit so v ware not tranfered ur shares in ur dp account. my dp account in hdfc bank,& trading was at broker no dp account at broker site,now question r that

1]now my shares cost presently only 1 lac so nearly loss of 3lac ,so broker is responsibly for r not

2]whether duty of broker 2 transfer ofshares in customer account[dp]r not

3]if 25000/rs due than broker had right 2 stop all shares 2 trasnfer indp account

4]may broker stop certain amount of shares that time rest of shares may transfer

5] broker infring rule of sebi by not transfered shares in customar dp account

6]if claim arises which 1 suitable place where case file, consumor forum, r civil,r sebi .

kindly guide me thankig veru much


Asked on 2/13/09, 8:51 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: loss claim due 2 non transfer of shares in dp account

(1) The broker may not be responsible for reduction in value of your shares;

(2) That may depend upon the contract you may have executed at the first place;

(3) to(6) Your statement is not clear.

You may want to engage a local counel and consider filing your claim, if any, before consumer forum.

Read more
Answered on 2/13/09, 6:17 pm


Related Questions & Answers

More Consumer Law questions and answers in India