| Name: Sudarshan.Rangapathy
Email: Sudarshan.Rangapathy@igate.com |
| Message: 1) I would like to know your opinion on the dispute that I have with my share broker. This broking firm has been operating my demat account, doing regular trades in the F&O segment. It has always been the broker’s call to buy or to sell the F&O lots, and not based on my instructions.
2) On one such occasion, in May 2006, they failed to sell on time, the F&O lots that they had bought. By the time they sold the positions, the loss had accumulated to more than what I had as my initial investment as equities in my demat account. I had stocks worth Rs 3.20 lakhs in my demat account with them, whereas the loss they caused from the F&O transaction is more than Rs. 5.50 lakhs. They are now claiming that I should pay the balance of the loss as well. They are now turning the tables on me and claiming that it was I who did the trading. While they were doing trades on their own and used to inform me later, at the end of the day, for executing this sale transaction alone, for this transaction alone, they cleverly called me and asked if they can sell. Confused by their unusual action of taking consent from me, but still suspecting nothing, I told them in good faith that they should sell at the best rates. They have recorded this conversation and are quoting this as proof of my consent. In my opinion, mere consent to sell does not imply I gave them instructions. There could be no recording for buying the lots bcos it was they who bought the lots. There are other similar transactions where they bought and sold in the F&O on their own and later informed me. Can I ask for the recording of those transactions as well, to prove it was they who have been taking decisions regarding operating my account.
3) When I did further research of the transactions they did in my account, it turned out that they did the trading without adequate margin in my account. When I countered them on the lack of margin, they are claiming that it is their discretion to grant me a higher margin.
4) In my opinion, since they were the ones who bought the positions, they should also be accountable for squaring off the positions on time and keep the loss at a minimum. By failing to sell the positions on time and by allowing the loss to go into negative and erode my entire investments, they have acted negligently. Auto square off is a common practice
prevalent in all broking firms.
I have now approached Arbitration for redressal of my grievance. I would very much appreciate if you can answer my below queries :
1) What should be my main line of arguments against the broking firm?
2) What are my rights against the broking firm under the Securities Laws? (SEBI rules, stock exchange rules etc)
3) What rights do I have under the Indian Contract Act, as a Principal against the agent, the broking firm.
4) What rights do I have under the Consumer Protection Act?
Looking forward to your considered opinion on this issue.
Best regards
Sudarshan
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| Name: manisha chougule
Email: soumanisha@yahoo.co.in |
| Message: I am investing in franklin india prima fund through S.I.P. since nov.2005 considering its long term performance @ franklin templeton A.M.C.'s overall performence. But evenafter considering poor performence of mid & small caps in last one year performance of some other mid cap funds like magnum global, reliance growth, sundaram select midcap is good over same period. So whether I should continue/discontinue SIP? Hold or switch investments in prima fund. I want to remain invested for 5-7 yrs. Kindly suggest. Thank you. |
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|
| Name: Deva
Email: raj_hruday@yahoo.com |
| Message: Is there any policy in LIC, where we pay 10000 every year and
after paying for 20 years continously, we get 30Lacs??
Does this kind of policy really exist, or people are trying to just fool
me?
Please clarify.
Thanks,
Deva
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|
| Name: prashant.krishnamurthy
Email: prashant.krishnamurthy@honeywell.com |
| Message:
HI,
My financial advisor is advising me on DSP India tiger fund and Reliance Growth Fund. can you tell me if it is sensible for me to go for these funds?
Thanks
Prashant
|
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|
| Name: sachin gupta
Email: sachingupta19999@gmail.com |
| Message: I want to know that if my first cousin who is NRI gifts me shares worth 10
Lacs of listed company in india, what Will be taxable amount in my hands
when i sell them
|
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|
| Name: neetha
Email: neetha9z@yahoo.co.in |
| Message: I show my transactions in the stockmarket under the head capital
gains.This year I have capital losses of Rs. 50000.Certain investment
purchases made by me were not delivered and so the stock exchange
auctioned off the shares and by this I netted a gain of Rs.40000.Can I
teat this as capital gains and set this off against my short-term capital
loss or do I pay tax on this?I never indulge in speculative transactions.
|
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|
| Name: rkkarnani
Email: rkkarnani@hotmail.com |
| Message: Which is the cheapest Term Plan for risk cover of 25 lakhs or more for a
male aged 55 years and risk cover atleast till 70 years age.
|
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|
| Name: Deepak Arora
Email: deepak_kumar2001in@yahoo.com |
| Message: Dear Sir,
I am attach with the financial sectors last 6 years.
please sent the update of market.
Thanks&Regards,
Deepak Arora
9811358088
|
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|
| Name: Reena Karumbaiah
Email: reena_yk@yahoo.co.in |
| Message: I request your help and advise in assisting me to create a savings plan /
schedule for me which would fall in place and help me have a secure
future .
My age 30 yrs
My Annual CTC is Rs.4,60,000
Monthly Take Home Rs. 30000 Receive Commissions which vary , but on
an average of Rs. 30,000/ Month
My expenses are Rs. 23031 /month ( which Includes Rent /Home
Expenses/loans)
Balance left fm Salary Rs. 7000 on hand
My Savings are :
Premium
NSC RS.50,000
Maturity in Oct 2009
LIC Money Back Plan Rs. 1 Lakh –20Yr Term
Rs. 6444 ( 1611--1/4 ly)
Endowment Plan Rs. 80,000 – 20Yr Term
Rs. 3920 (1960-- ˝ Yrly)
Max NewyorkLife ULIP Rs.4 Lakh – 20 Yr Term
Rs.1509 ( Monthly )Commenced from Feb 2006
PPF
Rs.50,000 -Invested This March 2007
My Liabilities :
I have a Personal Loan pending for RS.65000 for which I pay an EMI of
Rs.3172 .I plan to prepay my Loan in June 2007
I have a car Loan which commenced this FEb 2007 for a 5 year term EMI
Rs.5350
My concerns are :
Please suggest a plan wherein If I retire at 45 how should my savings ./
financial Plan look like
I would like to invest in property but not right now since have no funds
on hand for the down payment. Any suggestions on your part on how to plan
it ?
Could you advise if this MAX- ULIP plan is suitable Since I noticed the
performance inn Outlook Money wherein Max Life has not figured as a good
performer)
For short term profits which are the funds I can invest in for periods of
3--6 months
Would like to opt for SBI ULIP is an SIP better or a lumpsum investment
instaed of the MAX ULIP .
Any other suggestions from your kitty towards my goal
I do know that you would be quite occupied with your commitments , but
sincerely appreciate if you could please advise me on planning my
finances . I really look forward to hearing from you
Hope to hear from you
Thanks & Best Regards
Reena Karumbaiah
Bangalore
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| Name: sriman
Email: sriman_kota2002@yahoo.co.in |
| Message: i can invest rupees 2000 per month in mutual funds, whether shall i go for
sip or make investment at a time when the price is low for a mf.please
suggest.
|
| View Replies |
|
| Name: arun
Email: arungarud@hotmail.com |
| Message: I need tips on investment in MF for tax saving and mid term
period returns - say 3-5 years
|
| View Replies |
|
| Name: sivaelango
Email: sivaelango@yahoo.com |
| Message: Suggest me a scheme from Franklin Templeton MF preferably SI |
| View Replies |
|
| Name: COL BHANDARI
Email: bhandarianil02@hotmail.com |
| Message:
SIR,
HOW DOES ONE CUMMUTAE RENTAL INCOME FROM OFFICE SPACE.
KINDLY ADVICE
THANKS.
REGARDS,
COL BHANDARI
|
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|
| Name: JYOTI
Email: bhandarianil02@yahoo.co.uk |
| Message: I am a school teacher with a monthly salary of Rs 12,000/-. This July I bought a Shop for Rs. 5,25,000/- out of my savings. This Shop I sold in Jan for a sum of Rs. 10,00,000/- and bought an office space for Rs. 8,50,000/- . Kindly advise how do my commuate my IT.
Thanks.
Regards,
JYOTI
|
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|
| Name: kiran
Email: kiran.kayarwar@rediffmail.com |
| Message: Dear Sir/Madam,
I intend to an MBA & plan to pay the fee in March.2007 itself.
Will it help me to avail tax benefit ! |
| View Replies |
|
| Name: prati
Email: prati_ck@yahoo.com |
| Message: Which Insurance company is truly benefecial for a person to invest his
money and get good returns with low hidden charges?
|
| View Replies |
|
| Name: Dayananda
Email: dayas2003@yahoo.com |
| Message: Dear Sir,
This question is with respect to the taxation. I have changed my company in the mid of Sept 2006. [Quit the previous company on 15th sept-2006 and joined the new on 18th sept-2006].
My concern is I have been made to pay the Professional Tax [PT] of Rs 200/- for the month of SEPT in both the companies. I got my Form-16 from my previous company a month later, and I have submitted the same in the present company. In the, they have clearly mentioned the Rs 200/- they have cut towards the PT of SEPT. When I went and talked to the HR/ Finance persons of my present company, they said
1. You did not give the Form-16 while joining [to calculate the PT for Sept]
2. Even if you have given the Form-16 on the date of joining, we would not be able to consider your request because the PT goes to different department, and they may come and ask us after 5-6 years to show the PT paid by you.
3. You had to ask your previous company not to cut PT for that month
4. You would have joined our company only on 1st of next month; it is your mistake of joining in-between.
I said, I would not be able to ask the previous company not to cut the PT, because no one knows whether I will join the next company and work for the remaining part of the month.
Then I asked, can I claim this in the IT returns? She said, "Since this goes to a different department, you will not be able to claim the same"
Could you please let me know whether her argument is correct? Is there a chance for me to claim the same in returns? If yes, how?
There are a couple of people like me in the company. Your valuable input would help us a lot.
Thanks and Regards,
Dayananda
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|
| Name: ramankumawat
Email: ramankumawat@yahoo.co.in |
| Message:
which MF is best to invest by SIP ?
|
| View Replies |
|
| Name: Shantanu
Email: shantanu.bhattacharya@orgltd.com |
| Message: Hi,There are some queries -
1) What basis advance calculated.2) Is it statutory for all Co.(New &
Old)3)What is the guide lines for advance tax,4) What stands for advance
tax on SBT.
Regds
Shantanu
|
| View Replies |
|
| Name: arulmrpl
Email: arulmrpl@hotmail.com |
| Message: Pls. let me the top performing diversified fund |
| View Replies |
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