1) file complaint against company with SEBI
2) invoke arbitration clause in your contract
3) file claim before arbitrator for loss suffered by you
Inappropriately square off of future contract
Sharekhan securities Pvt Ltd inappropriate manner squared off my future positions without my consent which caused me financial losses The trade taken according to information of stop loss and after their confirmation on telephone now not producing telephone recording for further esculations and not responding to mails and calls ..need compensation for this irresponsible act of company representative
Asked 5 years ago in Business Law
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2 Answers
The share broking company is not an authority to determine profit from the stocks recommended by them.
They have a disclaimer clause attached to all such contractual obligations.
Nobody can predict market behavior or sudden changes.
The share market business is purely based on predictions alone.
The share broking company cannot be held liable for the losses suffered by the customer even though the company had given tips or recommendations on some stocks.
It is the customer who is the final person to take a decision or call.
The broker cannot compel the customer.
Hence any action you may propose to initiate against the stock broker company for the losses you suffered may not be maintainable or tenable in law.
Hence use your prudence and take wise decision instead of taking a decision due to frustration over the financial losses you suffered.
