Nitin (n/a) 14 April 2008

Cheque Bounce

Hi there,

I am really in trouble, One of my stock brokar is telling me that, I have got the loss of Rs.5.5Lack, I am not understanding the fact, How I have got this much of loss without any security.

Kindly focus on below mentioned points.

1) I had deposited Rs.1,00,000/- to Brokar.

2) I was holding 5 lot of NTPC in future.

3) If share price got down, why brokar was holding the share, he did'nt sold out the share when my margine money was over.

4) He was holding my share till it has made a loss of Rs.6.5 lack, then he has deducted my deposited money and asking for rest of the money.

5) He has deposited one of security cheque in my account which has been bounced and I have got the letter of his layer stated that they will take action.

I would request you all to Kindly help me out, What action he can take against me, and what action i can take against him "without margin money why he has given me the margin of Rs.6Lack."

Kindly send me the mail on nitin_hutch@yahoo.co.in

I will be really thankfull to you.

Nitin Gupta

Reply Follow

8 Replies

Guest (n/a) 15 April 2008

I want to know the reply for nitin. please inform me to my mail.

J. P. Shah (RTI & CONSUMER ACTIVIST) 24 April 2008

You lodge a complaint with SEBI and ask them to intervene. For bouncing of cheque you can reply through your advocate detailing the failure of broker. You can even move consumer court for deficiency in service by broker. Have a notice served on him through your advocate claiming huge damages.

s.sivakumar (advocate) 24 April 2008

First of all you should reply to the legal notice with full details of your facts that you have narrated here and you have to lodge a complaint with SEBI.

Nitin (n/a) 29 April 2008

Thanks a lot Mr.Shah & Mr Shivkumar to share this valuable information with me, I wil definetly take action according to your guidelines. Thanks a lot Mr Sitaraman for your support. Nitin Gupta

prabodh kumar patel (advocate) 26 October 2008

What is the status now?

RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA) 01 January 2009

First of all you should reply to the legal notice with full details of your facts that you have narrated here and you have to lodge a complaint with SEBI.