how to complaint against this organisation they have cheated me by opening institutional account of tradin
Ans: Here's how you can complain against the organization that allegedly opened an institutional trading account for you without your consent:
1. File a Complaint with the Broker:
Start by directly contacting the broker's customer care department. Lodge a formal complaint about the unauthorized opening of an institutional account.
Request them to rectify the situation and close the account immediately.
Keep a record of your complaint, including the date, time, and reference number (if provided).
2. Approach Regulatory Bodies:
If the broker doesn't address your complaint satisfactorily, you can escalate it to the Securities and Exchange Board of India (SEBI). SEBI is the regulatory body for the Indian stock market.
You can file a complaint online on the SEBI SCORES portal (https://scores.gov.in/) or by post/email.
SEBI will investigate your complaint and take necessary action against the broker if they find any wrongdoing.
3. Stock Exchange Grievance Redressal Mechanism:
If the broker is a member of a stock exchange (NSE or BSE), you can also file a complaint with their grievance redressal mechanism.
Each exchange has a dedicated portal for filing complaints.
4. Legal Action:
As a last resort, you can consider legal action against the broker. This might be a more complex and time-consuming route, so consulting a lawyer specializing in financial matters is recommended.
Documents to Keep Handy:
Any communication you had with the broker regarding the account opening (emails, SMS, call recordings, etc.)
Account opening documents (if you have any)
Proof of your identity and residence
Remember:
Act promptly. The sooner you file a complaint, the better the chances of resolving the issue effectively.
Keep detailed records of all your communication and actions taken.
By following these steps, you can take action against the organization and potentially get the unauthorized account closed.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
