Legal Question in Consumer Law in India

Respected Sir

I would kindly like to know what should I do for the subject matter.

Well I do invested 5Lakh rupees in january2012 in equity market through karvy stock broking. The dealer of the karvy branch in raichur always misguided me

and tempted to buy the stocks of the company which were not performing good hence, within six months of investment I lost all of 5Lakh rupees. Most of the

stocks they buied and sold without my request/confirmation, and always foold that they will recover the lost money but all went in vain.

This 5Lakh rupees was my hard earned money of more than 18years now I am badly suffering. Moreover Karvy Hyderabad office sending notices to me to pay further

Rs.18000/-. When I asked why I have to pay they say that the last stock which was in my portfolio went in negative to my margin hence you have to pay.

I repeatedly denied that I neither told to buy or sell most of the stocks then why you went when my margin became zero.

But they are not listening to me saying we always sent you electronic contract note on all transaction hence you have to pay.

Kindly help me and let me know what action to be taken.

Myself and my whole family in a deep trouble.

Thanks and best regards

Nazeer Ahmed

Raichur Karnataka state


Asked on 9/09/12, 7:43 am

1 Answer from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

approach a local good lawyer.

Read more
Answered on 9/10/12, 2:29 am


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