Dear Sir’s

I had inherited some shares from my parents in physical form and they were in different names. My father had died and he only knew about the details and the signatures. My mother is not literate and she knows nothing about this, so she passed me all the papers and certificates. I came into contact with Mr. Mehul Shah (proprietor of Raksha investment, Indraprastha complex, Opp Inox Theatre, Baroda. Gujarat). He then helped me out to transfer all my shares into my name. I gave him all the money for the necessary work he had to do like photocopies, tickets for transfer forms and courier charges. He then asked me to convert them into Demat form and asked me to open a Reliance money account through his company. I signed all the papers and gave him all the shares and certificates. I am at present living with my husband in UK because he is on work permit over there, so after the holidays we went to UK.

We then thought that because our shares are in Reliance money and safe, we never then opened the account through internet, because we had no intention to sell them nor we wanted to buy any other shares. My husband then went to India and visited Mr. Shah’s office to give him some more shares and also the the shares which required to be dematerialized. He till then never told us that he is doing trading in my account and we were still thinking everything is fine and we never bothered to look at the account. We also bought few mutual funds through his company.

But recently we went to holidays in India i.e. July-Aug 2009. I had some shares which needed converting to demat form so went to the office and gave some shares. I was just chatting with his employees over there that are doing the trading. One of them innocently gave me the ledger and told me that Madam your ledger is in profit since we started trading in your shares. I was shocked to hear this story, so I questioned him about this. He then told me that I thought it is agreed between you and Mr. Mehul Shah to do trading without informing you.

I was very furious about this and then next day with all the reports and logs we went to Mr. Mehul Shah’s office. First he was in denial of doing this and said that his employees have done by mistake. The he made story that his employee took consent from us and that is why he went ahead with the trading. After lot of discussion he agreed that he has done mistake and would like to rectify.

He sold most of the scripts and bought some new ones and was unnecessary doing trading to earn brokerage, as I understand he cannot sell the shares and get money because of Reliance money linked to my bank account. He did all this to earn extra brokerage.

We agreed in that meeting that Mr. Mehul Shah will get me all the shares which should be in the account originally and will bear all the losses. He agreed to do this by date 15/92009. I then met Mr. Akash Kejriwal of Reliance money and he too had promised me that this will be done and Reliance money will interfere in the matter if he doesn’t fulfill the promise.

Today is 17th October and till now he hasn’t given me all my shares and I am still in loss of 417 shares of Visaka Industries.

This is the biggest loophole lying in the trading account of the company. It should be looked into and make it safer for customers like me. I know Mr. Shah is doing similar in other NRI accounts as he told me himself. He is earning brokerage by doing unnecessary trades, as you can see from my account, which he does in many NRI clients’ accounts.

I have trust in Reliance and hope I should get my original lots of shares. I have been writing E-mails and telephoning him almost daily since last 2 months, which also costs me. I am sure you can put pressure on Mr. Shah and ask him to do this transaction tomorrow only.

I am writing to you as I have lost my patience and not getting quick response from Mr. Shah or from Reliance money. I have written so many E-mails to Mr. Anil Ambani and customer support at reliance money, but all in vain and nothing is happening.

Thank you

Yours sincerely

Neepa Virpura

3/B Industrial Employees Society

New Sama Road

Vadodara-3900024

UK address: 5, Segedunum Crescent

Wallsend

Tyne and Wear

NE28 7JN