[Resolved]  Kotak Securities — Excess trading than the permissible limit with out my knowledge had suffered me a loss of more than 4 Lacs rupees in just 2 months

Address: Pune, Maharashtra

This is relating to my opening Account with Kotak Securities on being trust of professional Organization and will help me in building wealth on my investments that were in delivery format.To my surprise the relation ship manager assigned to me has started trading on my account with out discussing with me about my risk apptitude or financial position.

Initially I thought he will do the needful by limiting my losses with Stop Loss and only to the extend I can afford my risk but he has gone on purchasing all risky investments like Bank Nifty / Calls / Puts and that also in large quantity in 1000 ,2000 that was not at all affordable or permitting my financial situation.

By the time I realized what is happening I already suffered losses to the extend more than 4 Lac Rupees. This is really disgusting as a professional firm like that who has appointed Relation ship manager should have taken step in minimizing losses if can not able to give profits but no help

I need help from you people as to what I need to do to get my losses back or how can broker can be penalized for not doing what I expected and told him to do as they only focus on there brokerages and not at all concern for our losses

You can reach me on [protected] to discuss further

KJain