INJUSTICE.. please help
- Thread starter izzner
- Start date
Dear Izner,
Unfortunately there is nothing I know of that can help you in this situation. Also in regard to your question "Now if the loss exceeds the value of pledged securities it is their responsiblity to make sure the loss doesnt exceed the value of pledged securites... isnt it..??"
I've never faced this problem and do not really know, its best you consult a legal expert. However to my mind icicidirect covers itself extremely well and its unlikely they would make a slip up.
Unfortunately there is nothing I know of that can help you in this situation. Also in regard to your question "Now if the loss exceeds the value of pledged securities it is their responsiblity to make sure the loss doesnt exceed the value of pledged securites... isnt it..??"
I've never faced this problem and do not really know, its best you consult a legal expert. However to my mind icicidirect covers itself extremely well and its unlikely they would make a slip up.
well....
u pledged the securities-they sold them...
they also sold the unpledged shares with them...
so now for the balance they'll debit ur account...if there is no money there i guess they can't do much abt it then...most probably they'll call u and ask u to pay up or ...if they threaten u then tell 'em u recorded the conversation and will go to the media and the Court...hopefully they'll wanna settle then...
so as marcus says consult a lawyer and ascertain ur rights whether they can sell unpledged shares,can they come after u legally for the rest of the money etc...
u pledged the securities-they sold them...
they also sold the unpledged shares with them...
so now for the balance they'll debit ur account...if there is no money there i guess they can't do much abt it then...most probably they'll call u and ask u to pay up or ...if they threaten u then tell 'em u recorded the conversation and will go to the media and the Court...hopefully they'll wanna settle then...
so as marcus says consult a lawyer and ascertain ur rights whether they can sell unpledged shares,can they come after u legally for the rest of the money etc...
No chance of that happening, ICICI are worse than shylock the money lender in Shakespeare's "The Merchant of Venice", they will collect every penny. If you read the papers they outsource their loan recovery contracts to the worst company's who employ goons to threaten customers who default on loans. They are the worst of all the banks in this respect, citibank used to be number one in this respect but ICICI have beaten them and are quite ruthless.
See izzner its best you contact some legal expert, you really need to know the legal rights you have here. They would be in a much better position to advise you than us unless we have some legal expert here who can advise you. Maybe ashish can just ask him profile id : acatrader
Also get hold of a copy of the POA and agreement and read it to know what they are entitled to do on your behalf under what circumstances.
See izzner its best you contact some legal expert, you really need to know the legal rights you have here. They would be in a much better position to advise you than us unless we have some legal expert here who can advise you. Maybe ashish can just ask him profile id : acatrader
Also get hold of a copy of the POA and agreement and read it to know what they are entitled to do on your behalf under what circumstances.
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
|
Please Suggest a Data Vendor | Data Feeds | 4 | |
| S | Views please…. | Swing Trading | 7 | |
| B | Guide on this Logic please | Equities | 1 | |
| S | Please advise on my portfolio | Equities | 1 | |
| R | Please code an afl to draw a vertical line at every 46 th day | AmiBroker | 0 |