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Due to the system error, Angle Broking credited a mutual fund and debited my ledger which has zero balance in it. And for that negative balance they sold out my shares even I have complained about this wrong transaction.

On 15th June when I have checked all of my saving schemes for balance I found that I have 62,000 in my liquid fund so I redeemed 55,000 out of it which I send to a friend from whom I borrowed 90,000 for my Home down payment. After that, I found my angle broking ledger balance is -62,000. I logged a complaint on phone against it on 15th June saying why my ledger is in -62,000. So they replied me that there is the purchase of mutual fund of worth 62,000 on 13th June and they don't have any information in their system against it.

I haven't placed any buy order in the month of June as I don't have money to buy anything. 15th June was Friday and they haven't done anything regarding this complaint. on Monday I got a mail that they will square off all of my shares with them against the negative ledger balance. I again called customer care and my dealer regarding this and they just replied we are looking into this and this order of mutual fund is from your end. On Tuesday and Wednesday I called all types of customer care and emailed two support email addresses but one out of it failed and other logged my email complaint. On Wednesday support guy Koustubh called me and told me that order from 8th May is processed as it is pending so they debited ledger for 62,000. I said ok but please don't sell my shareholding as I am bearing the loss in that and he replayed he can not do anything If you wish not to sell shares then pay 62,000 rupees immediately or the system will square off your shares against the negative ledger balance and system squared off my shares of worth 27,000 at the market rate of 16,000.

So where should I log the complaint against it?

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You need to raise a complaint on SCORES [Sebi COmplaints REdress System] or call toll free line.

You can also register a complaint with NSE online as well as BSE by email / calls

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If you can document your complaint, contact the Securities & Exchange Board of India (SEBI) which is the regulator for Stock Exchanges in India. They should be able to direct you to the proper agency for rectifying this if you can't do so with your broker.

  • I have tried it online but portal can take a complaint against transaction in BSE or NSE. this transaction is a mixed type and what will be the document for such complaint – Shree29 Jul 19 '18 at 19:44
  • I'm in the US so I can't help you with the process in India. I once took a broker to arbitration (and won) and all of the requirements were spelled out online (FINRA and SEC). If you have difficulty with the online process, call them on the phone. – Bob Baerker Jul 19 '18 at 19:52

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