Illegal Trading and forgery by stock broker

hi sachin 

i am shankar anantharam from salem ,  am very sorry for sad things happened in your life , please raise this issue to media like CNN IBN , NDTV etc . sent mail to sebi officials and other person which is related to the issue, make this issue as a big one it will lose the goodwill of the company and sure that it will reduce in  the future for other people who is suffering from this problem.  i will support u in all aspects

all the best

shankar anatharaman

PRESS – RELEASE

Writ Petition has been filed by Sachin Bhardwaj ,  Honorary Secretary INVESTOR PROTECTION GROUP,  against Securities and Exchange Board of India (SEBI) and National Stock Exchange (NSE), in the interest of the Public at Large, Seeing the gravity of the Case Hon’ble  Justice Vipin Sanghi has referred it to Division Bench of Hon’ble High Court, Delhi in the Category of PIL and will be heard on 16 November.

1.         Certain Circulars of NSE have been deliberately issued to over rule the Guidelines and            circulars             issued by SEBI to provide unjust benefits to Brokers and are causing injury    and      irreparable damages to the Investors.  We have asked Court to declare those Clauses of         the Circulars as null and void.

2.         IPG has  asked court to “direct SEBI to conduct a thorough investigation into the illegalities       committed by NSE and investigate if the acts of NSE  are biased and are         responsible for             plotting            loopholes in the system and to initiate  appropriate legal action             including         cancellation / suspension  of   the registration / licenses of NSE if the same is established.”

3.         Mr. Sachin Bhardwaj Honorary Secretary of IPG said “The Stock brokers are invading the       right to            privacy, a fundamental right to life under article 21 of constitution        without           taking             proper authorization by secretly recording the personal / private Conversation            of  Client or any family member after trading is over without          informing /warning   them    that the           call is being recorded like that in the Banking sector.    The same recordings   are being used to mislead and to abuse the process of law.”

                  The Rulings of Supreme court in this context are carelessly ignored and Guidelines            are required to be issued for Recording the Conversation and            should be allowed only in       the       official trading hours         only with the intimation to     Client and in accordance with the      law.  In case SEBI / NSE has       allowed the illegal recording without taking the approval from         the       concerned government authority and            without supervising / issuing strict guidelines to        be followed they are also partners in the crime involved and may be prosecuted along with        brokers.

4.         Mr. Pramod Kumar, President of IPG adds “Illegal unauthorized trading is being carried out by the Stock brokers under the umbrella / shelter of NSE and is not monitored as desired by SEBI.  Trading members are involved in inducement of simple, ignorant and unfamiliar persons to enter into derivative market and are made the victims of illegal  unauthorized  trading, that remains unnoticed by NSE and SEBI. Number of investors directly affected with this Nexus will be the biggest in the History of the SCAMS ever reported in India."

            SEBI states that Every market intermediately is under obligation to exhibit highest standards of             professionalism and integrity in the interests of capital market whereas fact is that the        Regulatory authorities are not initiating any strict action against this wrong practice.

5.         The Stock Brokers are deliberately allowed to be Free to make one sided Agreements /contract on their own which are required to be signed mandatory by the clients at the time of registration and the objective of having uniform formats is yet not achieved. Regulatory Authority deliberately keeps one end loosened to provide benefits to brokers.

            Deliberately the loopholes are plotted and the ends are kept loosened by NSE and not monitored by SEBI for providing the benefit to the trading members in legal proceeding against their unauthorized /illegal and fraudulent acts.

INVESTOR PROTECTION GROUP and PEOPLE FOR THE NATION have come into existence to help / guide the affected persons without any Charges. You may call on 9810933322,  9810045020 and share grievances against Share  Brokers / SEBI / NSE / MCX on investorprotectiong@yahoo.com . Be careful, you may be the next victim of the ongoing Organised White Collar Stock Market Scam.

Sir

I have an offline trading account in a broker firm and did some transaction instructing the broker over phone and paid the amount later by cheque.I never monitored the transactions done through my account critically but recently have observed that a few unauthorised trading had been done through my account without my knowledge. Now overall impact is that I have been asked to pay brokerage and taxes for same. Some times the balance amount in account was debitted for some unknown reasons.

now please suggest me in such case what can i do?

Regards