Legal Question in Business Law in India

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23.04.2012

Dear Sir / Madam,

At the outset, there seems to be a dispute between you and your broker that you may be insisting for the delivery of the shares you have booked and purchased worth the advance amount that you have paid the broker / sub broker, whilst the broker / share broker has simply not booked and recorded your share purchase transaction, used your money for a few days, and returned it back to you.

You ought to be aware that the broker / sub-broker trades on your behalf on the National Stock Exchange with the main Depositories, with a specific Drawing Power allotted to you.

At the end of each day, you ought to receive a statement of purchase / sale transactions done in your name along with payments made by you and credited to your account from the main Depository through your broker / sub broker. If you exceed your DP, the broker or sub-broker gives you three days to pay up the excess, else the broker / sub-broker reserves the right to offload the shares in the market without recourse to you.

You can mail me for further on-line legal advice at [email protected]

Regards,