I’m presently a customer of Nirmal Bang securities. Client ID - B02481. I would like to highlight the misleading practices followed by Brokers in Nirmal Bang Securities Ltd.
My account is handled by Somenath Dutta.
Last month he called me as I was having shares worth 1.5 Lk in my account and told me that he will do small trades on my behalf everyday and earn around Rs.300-400/ day. Also it was promised that before executing any trade he will call and confirm it with me.
But it was not done in the due course of time and I was in loss of Rs.10000/- on day 1 of starting this. He never called to take any kind of confirmation.
By the end of the day after calculating when I called him to ask about the loss, he gave me a false promise of recovering the whole amount within few days but within a week I was in a loss of Rs.100000/- for which all that I heard is condolence and the explanation given was - It’s share market and you will be in loss sometime while in profit the other time. And now my money is lost that too without any mistake of mine.
It’s extreme level of cheating practiced by him and I would like to take this up with SEBI and will report the malpractices done at Nirmal Bang Securities Ltd.