Fraud transfer of shrares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 April 2012 I purchased 100 shares of Pantaloons Retail India Ltd . The shares were in paper certificate form. When I approached a broker to sale those shares, he told me that the shares had been split in the ratio of 1 : 5. So I was advised to get the split shares in order to sell them off. I contacted Link In time( Authorized Share Transfer Agent of Pantaloons Retail India Ltd) requesting them to allot me the split shares as per my right. But no heed was paid to my request. On contacting the officials many times over telephone , I was told that my shares had been transferred to some Prakash Hemraj. It was a matter of utter shock as I never sold the shares to any one , and therefore, the question of transferring doesnt arise. I am still in possession of Share certificate. Being a common man, with the help of my limited knowledge , I lodged a complaint in the competent court of law , in which Police filed cancellation report. I was denied justice straight forwardly as no action was taken by police in such a clear cut fraud case. I filed revision against the dismissal of the complaint which is still pending in the Sessions Courts, Hisar, and no progress has been made in that so far. Link In time , all the times , instead of looking into the matter, just explain my grievances in their words. I request them that I am a victim of fraud. In place of helping me, they tell me : Your shares have been transferred to Mr Prakash. I doubt that they are hand in gloves with the accused who committed the fraud. The beneficiary in whose name shares had been transferred is the culprit. What other/efficient course of action can I take?

Guest

Guest (Expert)

08 May 2012 Kindly lodged a compliant with SEBI also naming the 'Link in time' and the transferree

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 I lodged the complaint but no specif reply has been given. Linkin Time told we have transferred the shares to this person

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Guest

Guest (Expert)

11 May 2012 Toll Free Investor Helpline (SEBI):1800 22 7575

Kindly try it once.

Guest

Guest (Expert)

11 May 2012 Also there is a dept in police by name Economic offence Wing (EOW). They deals in such fraud cases.

Normally we see in annual reports regarding investor grievances. I have not done such things but your case shall be covered by it and companies are bound to solve it. Kindly contact with the secretarial dept of the company. Link TIme is just a registrar and the company shall be primrarily responsible to look into the matter.

Guest

Guest (Expert)

11 May 2012 SEBI debarred companies from security market if they dont solve investor grievances.

Guest

Guest (Expert)

11 May 2012 Take note
SEBI provides assistance/ guidance to
investors by replying to their queries received
through the following modes:
a) telephone (investor Helpline 91-22-26
449188/26449199/40459188/40459199 at
Head office and thorugh board lines at
the regional offices
b) E-mail (investorcomplaints@sebi.gov.in)
c) Investors visiting SEBI offices
d) Letters
e) Grievance form in the SEBI website

You may try it out