A Digital Blogger (1 Points)
07 April 2017Hello Fellow members,
I am looking for advise on the fact that what happens to money and stocks when the stock broker itself goes bankrupt or goes out of business?
Is the money safe?
Please advise.
Thanks!
Rakesh Verma
P.S. recently read an article here on the same thoughts.
Satish Mruthyunjaya
(http://theindianstockbrokers.com)
(4 Points)
Replied 01 August 2017
Recently one of this type of incident happened. Unicorn securities which used to charge very low (Rs 5) where the industry standard is Rs20 went broke. Actually a article briefs how the investor could have avoided this.
Better be safe than sorry .
Satish
gunjanchokshi
(Founder)
(22 Points)
Replied 12 July 2018
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desire tofly
(Share Brokers)
(2 Points)
Replied 23 February 2021
A C Agarwal Share Brokers Pvt. Ltd.
Address: City Mall 315 3rd floor, Bhagwan Das Rd, C Scheme, Ashok Nagar, Jaipur, Rajasthan 302001
Surekha gore
(manager)
(38 Points)
Replied 27 February 2021
Before dealing with any stock broker check his history do enquiries about his relations with Customers.you can check more details on valuebroking.com
Vikas D
(www.infinitebroker.com)
(24 Points)
Replied 23 June 2021
Before selecting a stock broking firm, it is very important to get complete information about it.
You will get complete guide on "How To Invest In Stock Market?" here. It will definitely help you to choose right for you.
shikha singh
(18 Points)
Replied 26 August 2022
For most part, a stock broker remains profitable and continues his operations. However, if it goes out of business for some reason, it shall transfer its investments to some other firm. It is his responsibility to safeguard your investment at all costs. Yet, if you feel a stock broker is evading his responsibilities, then it is a failure to comply with the rules of Securities and Exchange Board of India (SEBI). It has clear guidelines for stock brokers to run and close their business.
Ignoring your request would be a case of fraud. You can approach the SEBI or a court and file a lawsuit for breach of contract. There are several provisions in the law which shall provide you the required solution for your problem. In most cases SEBI deals with the broker and helps out the investors. To know more about the available legal options visit financial portals like Value Broking.
CAclubindia
