I’ve trading account with IIFL, and with login ID: JALPA808 I’m a regular trader, and paying all charges related to trading and for the margin given to me according to my portfolio. But then also due to some reasons they are selling stocks from my portfolio on the name or RMS actions, and making me huge losses, which were not occur to me, if they intimate me before the actions were taken. This is a repeat complaint, and I had a loss of more than Rs. 50000/- due to this practice. I’ve no problem if they take actions at the end of the trading day, of if they ask me which stocks should the sell for RMS actions, but they are selling stocks from my portfolio, at their own, and that too if you see at price, quite below the open price for that stock. Few incidents mentioned below. On 3.01.2014, the Biocon future was opened and had a day low of 461.95 and my future sell order was at price of 441!!!!, and it was sold at 461.95, and on the same day stock was made a new high of 492, i.e I had a loss of (492-441 X 1000= 50000/- Rupees!!!) Earlier also same actions were taken as mentioned below, I bought future option of Sunpharma @616.85 and sold future option of BHEL @133.2 on 14.11.2013. After this 3 days were trading holiday. When I log on my account on 18.11.2013, in morning, I was shocked that all my future options were squared off, and I was having a huge loss of almost Rs. 10000/-!!! There were no intimation given to me about this. I want all information about the person who is responsible for selling my future options. As currently when I’m typing this mail, the Sunpharma future is available at 617.25, for selling. Also the square off price of the order was intentionally was much below the current market price, for example The Sunpharma future was opened at 613.5 and my square off order was at 579.00 !!! Also the BHEL future was available at 134 while it was bought at price of 141. Do you know if it was squared of at this price then I was having a huge loss of 1. for Sunpharma future: 500 x 40 = 20000/- 2. for BHEL future: 2000 x 6 = 18000/- I want my money, from this guy, otherwise I’m going to file FIR against IIFL, for intentionally making loss of their client. All the orders were made from my account without information at 9:18 AM. and even not giving me time for the money transfer, from my account

I had a loss of more than 50000/- due to their steps. 1. Biocon Day low was 461, and was sell order was at 441: hence a loss of (461-441 X 1000 = 20000/-) Same way all stocks were sold for 2. for Sunpharma future: 500 x 40 = 20000/- 3. for BHEL future: 2000 x 6 = 18000/-

I want my money back.

Complainant Information
name- sandipnrathod