Alankit Assignment Ltd

to close the a/c of year 2003-2004 and then for reopening the next year a/c, perhaps because it does not have to be reported to authorities as per SEBI Rules. This cheque in question was issued on 30th March 2004 for an accounting jugglery i.e. The trading member fraudulently transferred all the shares from my DMAT a/c 10651928 to his DP pool a/c on 28th Jun-04 misusing my speed-e given to him in good faith and then allegedly sold all these shares on 29th Jun-04 without my knowledge.

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He fraudulently used my DMAT speed-e password to transfer all the shares to his pool a/c. Copy of his letter is enclosed as Annexure-II at Page-H.

He assured me that there is almost no probability of losing in a market, which is basically controlled by them and they always have advance information about it. He had some other such schemes too but I opted for one mentioned in preceding paragraph. Surprisingly, he was silent on the margin money of Rs.15 lacs with them since he fraudulently wanted to use one of the previously issued cheques of almost same amount to recover the alleged outstanding amount and which he did.

Summary of the case This is a case of cheating and fraud where I was lured and trapped into a lucrative scheme with assured good returns on investment. 14.40 lacs in installments by cheques and shares worth over 3.5 lacs were transferred from my old DMAT Account No. However it was agreed that the negative consequences or losses will be borne by Alankit, if any. also offered me an income tax saving scheme where he can provide me the capital loss certificates from one of this companies/concerns to avoid Income Tax. Of course, I had seen such certificates being issued to various people for consideration. now suddenly informed me on 2nd July 04 vide their letter dated 30th June 2004 that on my instructions he had sold off shares from my account worth Rs.75,84,208.65/- on and that I have to still pay him Rs.32,72,631.59/-.

However, summary of the case is placed at Section-C of this statement." "C. I understand that his money was either not claimed by the investors or the payment was delayed to them, as the case may be. He also promised me 25% of profit sharing coming from this trading a/c.

He is harassing me in all possible manners and is now threatening of legal action as well.

He further raised a bogus demand of over 32 lacs on me and presented one of my previous cheques withheld with him with malafide intentions in a clever manner.He was regularly being provided with all the contract notes, sale bills and other documents.He never objected in whatsoever manner until 8/10-7-04. The Petitioner states that they sold the securities transferred to their pool account by Respondent No.1 for a total value of Rs.74,85,681.24 on 29th June 2004. challenges in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 ('Act') an Award dated 10th December 2009 passed by the learned Arbitrator in the dispute between the Petitioner and Respondent No. 1 transferred securities from his DP Account No.10651928 to the Petitioner's Pool Account No.10000004 and advised the Petitioner to sell the same and adjust the proceeds against the outstanding balance. 1 also advised the Petitioner to re-present either the cheque for Rs.32,32,645.31 or the cheque for Rs.30 lakhs.KLM Axiva Finvest Limited Shriram City Union Finance Limited Srei Equipment Finance Ltd Tata Capital Financial Services Ltd Muthoottu Mini Financiers Ltd More NCD... On 26th Jun 04, we realized that market scenario is not good at all and his intentions had become malafide when he ruthlessly tried to mingle with the accounts of my wife and my brother-in-law. I shall provide the details of the case after I receive the details from the trading member. As per his scheme, I was to invest some amount in margin a/c whereas he was to invest 8-10 times of that amount in trading a/c from huge funds at his disposal, which actually belonged to his clients and were lying idle with him at any point of time. Alankit reinvests this money into business through investors like us who provide them the business face. Ashok Aggarwal told me that apparently the business would be in my name for which I had to open a separate DMAT and trading account. I am totally in distress and dark in the absence of the basic papers as mentioned in preceding paragraphs. He also assured me that my investment would remain safe in the margin account, which is just like a trustee account.All care has been taken that the information listed is correct.However because of nature, some information might have changed. SCS shall not have any responsibility in this regard.


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