Karvy Stock Broking crisis: These top tips from Anil Singhvi will help you save your money
Zee Business Managing Editor Anil Singhvi says that once you detect signs of default by the broker, you should immediately lodge a complaint against at BSE or NSE website or any of 24 regional exchange centers.
The stock market traders having DP or loop account in the Karvy Stock Broking Limited are stuck in limbo as to how they can ensure the safety of their money and stocks. For them, Zee Business Managing Editor Anil Singhvi had a piece of simple advice to lodge a complain and get their money and shares into their respective bank account and Demat account. However, the process is lengthy but they have to follow this if they want their money back.
See Anil Singhvi tweet video below:
अगर कार्वी ब्रोकिंग में फंसे है पैसे या शेयर, तो क्या करें? जानें अनिल सिंघवी से..#JaagoInvestorJaago पर ट्वीट कीजिए
— Zee Business (@ZeeBusiness) November 25, 2019
Karvy Stock Broking crisis has many people running scared! They are worried about how they will recover their money from the broker. Zee Business Managing Editor Anil Singhvi has stepped in and he has advised Karvy Stock Broking clients to lodge a complaint fast with authorities if they have been cheated. Elaborating upon the process of lodging a complaint, Anil Singhvi said, "One can lodge a complaint against their broker in three ways — by going to the BSE or NSE website via the e-complain feature against the broker, by physically visiting 24 regional centers of the exchange or by directly visiting the SEBI website. Speaking about the time-limit for lodging one's complaint, Singhvi said that there is no time-limit but the normal practice is to put in a complaint within three years of default.
See Zee Business Live TV streaming below:
On documents required to put complaint against broker, Singhvi said that every Demat account holder receives a contract note or trade note from the broker and it's the most important proof of one's complaint. Apart from this, bank statement, arbitration form, ITR too has details about one's PAN card and Demat account. Singhvi said that apart, any communications like on WhatsApp should also be attached while lodging complaint against the broker's default.
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