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bigboy | Need help to sue my stock broker? |
Friends,
Last month i gave a dd to my stock broker asking her to subscribe for reliance power! She has lost it and dint even send it to reliance power which has now been confirmed. She has confessed this in her email to me ! so now am planning to sue them by complaining to SEBI. Are there any specialists available in india who can assist in the process? how much fine would the broker be shelling out?
i have applied for 225 shares and paid a dd for Rs.25875!
Thanks in advance!
Additional Details
Guys thanks for all your answers! i know tat ppl lost money on the issue! I need to get the money back from the stock broker! The cash has been deducted from my account to make the dd and i have to get it from my broker! i want to sue them not only she losst the dd , but also they dint respond properly after tat as well! But i just wonder, going to SEBI wouldnt help as they might just put some 5000rs fine which would be nothing for the time and the effort i have to put! suggest me wat i should do.... i have to get the money and if possible teach a lesson to them |
 |
 
Mahesh Mohan
|
Are you crazy? Thank God for that and Thank that lady for losing ur DD.. dont you know that Rel. Power listing was pathetic.. with investors booking their losses on the Day 1 itself............ So just call that girl and say "Thank you" |
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mwarrior 1
|
I could be wrong, but a DD is a demand draft ISSUED by the bank, right? In whcih case they would remove the funds from your account upon issuance, not upon being cashed.
If this is the case, talk to the broker and make them either pay to have the DD cancelled or pay you back the money if they cashed it. If the stock dropped in price, dont bother suing as you will not win. |
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Shailendra Singh
 |
file online complaint at sebi or concerned SE's |
|
padman
|
First of all You should be thankful to God for not submitting the application form. Secondly thank the broker for he has saved you from incurring losses. You can not sue your broker.It is like one suing his own family doctor.
As per rules you are supposed to deposit the application to the bank or designated places or the registrars of the issue and get the acknoledgement.
Please do not take harsh steps for it serves no purpose.
Be kind. |
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rajkumar
|
Dear,
it was actually fortunate for you because now you can get the shares at much cheaper rate than 430 Rs. thus with bonus your price will be much better than IPO holders.
Try to avoid the complaining as it will consume lot of your time and the fine wont be more than the 5000/- rs. I think your time is more valuable than 5000/-.
instead tell her this should not happen again and purchase rpwoer now as the record date is not closed yet and stock is trading lower than IPO price. |
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priyankji
 |
right.. i u got the money back than thank her for not applying//
if not.. than go to sebi website & file an online complaint against her..
you will get +ve reply from them within one week |
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MR MONEY
 |
Even if you subscribe, you are not guranteed of getting the order. If you sue you will just waste your time and money.
Take full advantage of the situation. Set-up a meeting with your stock broker, make sure he knows you don't ever want this to happen again. Then meet his manager. Get them to promise excellent service and set yourself up in the future.
Next time if you have an important order for an IPO, go to his office to place the order. |
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