Commodity and Equity trading loss due to connectivity
I am an investor in commodity and equity trading. Last week there was a connectivity issue at my broker. I made some transaction that day and wanted to place order to book profit., trading company's server malfunctioned and my trade went into loss.
I made my full effort- check everything was fine at my end, called local branch office 3 times to place order but this was of no use. I immediately informed the branch manager about the issue by mail. I had about Rs40000 loss.
Even till next day 1030 there was no response, so i had to write back to the Manager and waited for almost 3 hours for response. Meanwhile I was taking more loss. Finally I had dared to draft a legal notice ( i am a lay man in legal matters, but could not stand with such easy going response and taking further loss) with basic details and have given a 3-4 hour time line to respond back ( i know it is short, but due to nature of speculative business every second matters, i wanted to minimize the risk to either party). But still there was no response till the time provided.
BM assures on phone that they would take care of my portfolio which was in loss and about 2 hours later i receive mail that it was notional profit all risk has to borne by the client. This mail from the broking company was received after 3 hours of the deadline provided in legal notice.
Now the problem was with connectivity issue with broker and they are trying to scare me showing Risk Disclosure document that going to court or any other grievance is not much of use as such failures keep happening. And that is what the risk disclosure document educates investors.
I have not received that document (nothing has to be signed etc, but this is just a booklet attached which i didnt receive while opening the account).
After giving my best efforts this broking company acts insensitive towards my genuine request to recover my loss. Can I file a case against this company about their deficiency of service as there were multiple failure of connectivity on that day and may be some other days. As they never report or acknowledge their server issue.
If I can file a case. which court would be appropriate for this case? Further I have mentioned in my legal notice that this case will be filed in my residence jurisdiction and any further loss due to delayed communication has to be borne by them.