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Arun V Parikh (Proprioter)     16 June 2010

Cheated/Forged my sign in Capital Market by Sub Broker

Dear Sir/Madam,

 

                                      Sub: I have been cheated in Capital Market by Broker/Sub Broker    

                                              Transfer of my chq to third party’s a/c without my knowledge.

                                                                                       

 

 

 

I ARUN V PARIKH,   I am the registered client with Ventura Securities Ltd (Mumbai) (Broker) by client ID 74175 via Money Plant Securities (Sub Broker) (Mrs: Aarati Vijay Muley) since 17/12/2007.

 

On 10/01/2008, I had given the cheque to Mrs. Aarti Vijay Muley   (Money Plant Securities), the sub-broker, for a sum of Rs 45000/- to deposit with Ventura Securities Ltd on my above referred client ID:74175.. Please refer the attachment No 1 i.e. copy of the said cheque.

 

 

However the said cheque was never deposited in my account. There after, I pursued matter with Mrs. Aarati Vijay Muley, (Money Plant Securities) who gave me false assurances that the money will be soon credited to my account.

 

 

On 10/03/2010, when I strongly demand the money, she bluntly refused the same. She has purposely passed the time of two years and breached my GOOD FAITH in her.

 

 

Thereafter, I went to Ventura’s office at vikhroli, there I met Mrs. Maria Fernandes, (Legal Department) by presenting copy of the said cheque. She confirmed to me, after getting through her records that this cheque got credited to Client ID 74087 i.e. Mrs. Rajani S Muley’s account. It is pertinent to note that this account belongs to Mrs. Aarti Vijay Muley's family a/c. This shows that she has very conveniently transferred the cheque amount within her family.

 

 

Mr. D P Singh (Head of the Legal Department) was not present at that time, Mrs. Fernandes asked me to wait for a day or two.

 

 

After a fortnight and with all the telephonic conversations with Mr. D.P.Singh about this matter, he sent one courier stating that Mrs. Aarti Vijay Muley has submitted Memorandum of Understanding (MOU) with them. A copy of the same was being sent to me by courier on 29/03/2010, which I received on the following day. Please refer the attachment no. 2.

 

 

On the basis of the above MOU Ventura Securities Ltd & Mr D P Singh has  refused to transfer this amount and advised me to meet Mrs. Aarati Vijay Muley directly at her office. I also met her and asked her to return my money, however she has refused to do so.

 

 

Please note that, I have not signed any MOU neither I was aware of such document and nor I have authorized any person to do so.  It is pertinent to note that there is no Original MOU available with either of the parties i.e. Ventura Securities or Mrs. Aarati Vijay Muley.  Infact, Mrs. Aarati Vijay Muley has went to extent of  blaming me that I am in the possession of the original MOU.

 

My grievances are against the sub-broker Mrs: Aarti Vijay Muley of  Money Plant Securities and against the broker Ventura Securities Ltd :-

 

 

That how can Ventura Securities allow THIRD PARTY TRANSACTION, i.e. transferring a cheque meant for one client ID to another client ID's account without prior notice to the concerned person. I believe that the same is also not permitted under SEBI/NSE rules and regulations.

 

 

Secondly, Ventura Securities Ltd has relied on a copy of MOU which is neither stamped nor registered nor any original is available of the same.

 

 

It is evident from the above that Mrs. Aarati Vijay Muley (Money Plant Securities) and Ventura Securities Ltd  both hand-in-glove have illegally transferred the amount in third party's account and are now refusing to return my money on pretext of the said MOU which has no existence.

 

 

As on today, I have taken following actions against Mrs: Aarati Vijay Muley (Money Plant Securities) and Ventura Securities Ltd:-

 

1) On date: 31/03/2010 I have lodge the complaint with Samtanagar Police Station Kandivli-east.   (Please refer the Attachment no. 3) against Mrs: Aarati Vijay Muley.

      

2) On date: 24/04/2010 I have registered the above matter with SEBI and the same is Acknowledgement Ref No: 2010/0014618/01 Dt:22/04/2010. (Please refer the Attachment no. 4)

 

 

3) On date: 03/05/2010 I have registered the above matter with NSE. The Complaint ID is 1005210760400081 dated 12/05/2010. (Please refer the Attachment no. 5)

 

4)  On date: 15/06/2010 I have registered the above matter with ECONOMIC OFFENCE WING OF POLICE.

 

I request you to please confirm to me if any actions can be taken against Ventura Securities and Mrs. Aarati Vijay Muley of Money Plant Securities, if the same comes under any offences.

 

Thanking you for your kind time and attention.

 

 

                                                                                     ARUN PARIKH

                                                                                        (9224323064)

i.e. I am not able to attach files at present.

 

 

                                  



Learning

 10 Replies

Arun V Parikh (Proprioter)     17 June 2010

Dear Sir,

1) There is nothing to hide from my end..if you are feeling so because of 2.1/2 years gap it because She is like a daughter to me & just for Rs:45000/- she breached my GOOD FAITH in her. 

2) As I am not able to attach files which I would like to send you.

   Can I send these papers to any e-mail ID's / any adderess you suggest? 

3) Being a layman please tell me what is DT Court.

4) Please Sir if you can guide some good advocate who specializes in Capital Market transactions in Mumbai .

   As I am staying at Kandivli-east (Mumbai)

  Thanks for your co-operation,

                                                                                                      ARUN PARIKH

                                                                                                       (09224323064) 

1 Like

FUTURE LAWYER (future lawyer)     30 June 2010

Hello Mr.SKJ - ADVOCATE, aviod giving false advise.

1 Like

FUTURE LAWYER (future lawyer)     30 June 2010

Look aT YOUR ADVISE TO THE CLIENT, IS THIS THE WAY TO ADVISE THE CLIENT, U R NOT LEGAL PERSON, BEACUSE OF YOU AND UR FATHTIC ADVISE ONLY, LIKE THIS GOOD SITE GETTING MISUSING.SINCE UR ARE ALSO GIVING FREE ADVISE, THAT WHY UR ADVISE ON LOGIC AND USELESS SEE UR WORDS "FREE ADVICE FROM THIS SITE WILL NOT HELP , SINCE MANY ON THIS SITE ARE MISUSING THE FACILTIES OF THIS SITE CLAIMING TO BE KNOW ALL" LIKE YOUR PEOPLE. U DO NOT KNOW HOW TO BEAHVE WITH LEARNERS OR JUINIORS.

1 Like

ninadgac31 (Engineer)     09 August 2010

Mr Arun Parikh, its really horrible experience you have got. I came across first experience of this type. I also have account at Ventura with sub-broker, and I agree this type of incident can happen easily as when you pays with check there is no mention of client ID on your in case of Ventura, while in case of other broker you must have to mention your client ID on check.

But why you waited for 2 years? Even if she is a like a daughter for you, 2 years still a long time.

Do you got any success in recovering back your money in between?

Wish you all the best.

 

 

 

1 Like

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     09 August 2010

Mr Ninand you have really touched the real point , what this gantelman was doing for two years for such a huge amount. Something wrong somewhere.

2 Like

Arun V Parikh (Proprioter)     09 August 2010

Dear Sir, (Mr.Ninad Avasare & Mr.Shashikumar)

I am glad to write that I have WON the case against Broker/Sub Broker in the presence of NSE's officer on date:30/07/2010

They Broker/Sub Broker at the NSE's office paid my money back to me by cheque.

I am higly oblidged & Thanking all of you to support me.

Due to that support of your's only I have recived my money back from Broker/Sub Broker.

Again Thanking you all.

Regards,

                                                                                              ARUN PARIKH

                                                                                             (9224323064)     

1 Like

ninadgac31 (Engineer)     10 August 2010

Congratulation for winning case and getting your money back..

Is any penalty imposed on Ventura and Sub Broker in this case?

1 Like

bartelsmith (Capital Market)     04 December 2010

Investors highly prefer corporate bonds, as, in terms of total face value of bonds outstanding, the market is bigger than any other.Compared to government bonds, investment in corporate bonds involves high risks and they are listed across the leading stock exchanges of the globe.

 

[url="https://www.tradingforex.co.il//"]שוק ההון [/url]

bartelsmith (Capital Market)     04 December 2010

Investors highly prefer corporate bonds, as, in terms of total face value of bonds outstanding, the market is bigger than any other.Compared to government bonds, investment in corporate bonds involves high risks and they are listed across the leading stock exchanges of the globe.

 

[url="https://www.tradingforex.co.il//"]שוק ההון [/url]

bartelsmith (Capital Market)     04 December 2010

Investors highly prefer corporate bonds, as, in terms of total face value of bonds outstanding, the market is bigger than any other.Compared to government bonds, investment in corporate bonds involves high risks and they are listed across the leading stock exchanges of the globe.

[url="https://www.tradingforex.co.il//"]שוק ההון [/url]


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