Comments on: Top 10 Financial Scams in India http://indianblogger.com/top-10-financial-scams-in-india/ Join the conversation with topic experts and writers. Wed, 22 May 2013 02:08:13 +0000 hourly 1 By: Adit Agarwala, FRPS http://indianblogger.com/top-10-financial-scams-in-india/comment-page-1/#comment-3944 Adit Agarwala, FRPS Mon, 26 Apr 2010 08:11:05 +0000 http://indianblogger.com/?p=2879#comment-3944 Sir, Can you please tell me if any "Scam in Photography" has taken place in India? I shall be greatful to you. ADIT AGARWALA aditagarwala@sify.com

Sir,

Can you please tell me if any “Scam in Photography” has taken place in India?

I shall be greatful to you.

ADIT AGARWALA
aditagarwala@sify.com

]]> By: Vaibhav Dhoka http://indianblogger.com/top-10-financial-scams-in-india/comment-page-1/#comment-3938 Vaibhav Dhoka Sun, 25 Apr 2010 07:41:40 +0000 http://indianblogger.com/?p=2879#comment-3938 This has reference to my complaint against above entity for introducing unregistered intermediary to dupe and cheat investors. A modus operindi to cheat investors is appoint franchisee Dupe investor and close the shop overnight. It is apathetic stand taken by your institution such brokers dare to cheat and dupe investors. Now SEBI permitted securities lending and borrowing and Kotak Sec.Ltd was one such permitted entity. There fore SEBI is only authority to settle the grievance arising out of its regulations...SEBI’s regulation mandates COMPULSORY registration for market intermediaries. By overlooking this regulation Kotak Sec.Ltd appointed franchisee to dupe investor. Now NSE’s circular No.163 NSE/MEM/1591 dated April 20, 2000 too states that unregistered intermediaries are not permitted and if some member brokers deal through such person he is liable for all acts of commission and omission. Even NSE is shy of taking action as per this circular Pune police too informed that SEBI is appropriate forum as it is violation of SEBI regulation... To sum up it seems that none of above mentioned authorities want to take action against erring broker Kotak Sec.Ltd for reasons best known to them only. In view of this legal action can be resolves only at High Court at the Jurisdicture of Mumbai.

This has reference to my complaint against above entity for introducing unregistered intermediary to dupe and cheat investors. A modus operindi to cheat investors is appoint franchisee
Dupe investor and close the shop overnight. It is apathetic stand taken by your institution such brokers dare to cheat and dupe investors.
Now SEBI permitted securities lending and borrowing and Kotak Sec.Ltd was one such permitted entity. There fore SEBI is only authority to settle the grievance arising out of its regulations…SEBI’s regulation mandates COMPULSORY registration for market intermediaries. By overlooking this regulation Kotak Sec.Ltd appointed franchisee to dupe investor.
Now NSE’s circular No.163 NSE/MEM/1591 dated April 20, 2000 too states that unregistered intermediaries are not permitted and if some member brokers deal through such person he is liable for all acts of commission and omission. Even NSE is shy of taking action as per this circular Pune police too informed that SEBI is appropriate forum as it is violation of SEBI regulation…
To sum up it seems that none of above mentioned authorities want to take action against erring broker Kotak Sec.Ltd for reasons best known to them only. In view of this legal action can be resolves only at High Court at the Jurisdicture of Mumbai.

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