1. C
Rajesh Rampal
57 Vaishali, Pitampura
Delhi 110034
9013975711
rampalrajesh@hotmail.com
Sh. Upendra Kumar Sinha IAS
Chairman
Security and Exchange Board of India
Mumbai
Complaint -Online grievance mechanism of SEBI
Scores.gov.in - SEBIE/DH15/0000911/1
Dear Mr. Sinha,
I would like to bring to your notice once again the extremely lax, irresponsible and lackadaisical
manner in which the online grievance mechanism of SEBI i.e. Scores.gov.in is working.
• We lodged a complaint against Merchant Banker Bajaj Capital Ltd. SEBI Regn. No. MB
INM000010544 on 23rd
April 2015 under SEBI reference SEBIE/DH15/0000911/1-for details
refer to http://www.slideshare.net/rampalr/sebibajaj1
• Bajaj Capital themselves replied to our complaint giving reference of the complaint
SEBIE/DH15/0000911/1 vide their letter dated 25th
April 2015 and that appears in
ANNEXURE I for your perusal. Bajaj Capital Ltd. In their letter of 25th
April failed to
answer any issue raised by us in our complaint SEBIE/DH15/0000911/1 and the reply and
certain new issues have been filed in complaint no SEBIE/DH15/0001040/1 on June 1st
2015- can also be seen at http://www.slideshare.net/rampalr/seb-ibajajreply25april-
sebiedh1500010401-49435946
• SEBI transferred the complaint to NSE on 27th
May 2015 giving the reference
SEBIE/DH15/0000911/1 and mentioning that our complaint was against JUST TRADE
SECURITIES LIMITED a dealer on NSE. We have never ever heard the name of this
Company.
• On 27th
May 2015 we sent an email explaining the reasons that this action on part of SEBI
was wrong to Sh Gyan Bhushan, P. Saran, Sh, U.K. Sinha and to NSE. This can be seen
per Annexure II of this letter. We had mentioned in this email categorically that we had
serious apprehensions that the complaint was going to be mishandled with malafide
intent.
• On 11th
June 2015 we got an SMS and an email from SEBI stating that the case was closed
as JUST SECURITIES LTD did not have a trading account for us. We have no dealings
on the NSE for that matter. Please see Annexure III
• We also downloaded a mail from NSE and that appears in Annexure IV and it mentions
that JUST TRADING Ltd. Has no account with us.
• Our complaint is against Bajaj Capital SEBI Regn. No. MB INM000010544 and Bajaj
Capital has responded to our complaint themselves vide thier letter per ANNEXURE I. Under
such circumstances How can SEBI or NSE rule that our complaint is against JUST TRADE
SECIRITIES LTD a company never heard of by us and dispose of the case. Both SEBI and
2. NSE have made a mockery of Investor grievances.
The Dealing Officer has acted irresponsibly and presumably with malafide intent and it is
imperative
1. That an explanation be called from the Dealing Officer in this matter, who instead of
protecting Investors Interest is playing games with Investors Complaints.
2. The complaint needs to be looked into detail by a responsible Dealing Officer, more so
since we have lodged another complaint against the same Bajaj Capital Ltd. SEBI Regn.
No. MB INM000010544- SEBIE/DH15/0001040/1 . In fact there may be another complaint
very soon against the same Bajaj Capital Ltd.
It may not be out of place to mention that we have several complaints pending with SEBI as detailed
herunder and hope they are alo not going to be toyed with as was done with SEBIE/DH15/0000911/1.
Reference Against Filed on
SEBIE/DH15/0000911/1 Bajaj Capital Ltd MB INM000010544 23rd April 2015
SEBIE/DH15/0001040/1 Bajaj Capital Ltd MB INM000010544 1st
, June, 2015
SEBIE/DH15/0000912/1 Registrar LinkIntime India Pvt. Ltd. &
Premier Ltd
23rd April 2015
SEBIE/DH15/0000916/1 Registrar LinkIntime India Pvt. Ltd.
& Plethico Pharmaceuticals Ltd.
23rd April 2015
SEBI works in accordance with a limited parameter defined by law but it needs to widen its
horizon and needs to ask for more powers and for that matter the Laws need to be changed and
also SEBI's approach to Investor grievances. A note on suggestions for SEBI's role and the modus
operandi of how Promoters have fooled the Central Government and taken Investors for a ride
appears in ANNEXURE V.
We hope necessary action shall be taken in earnest else there shall be several court cases due to
SEBI's limited work horizons and style of handling Investor grievances.
The previous UPA Government did indeed make some fatal judgements in favour of
unscrupoulous promoters who used short term funds to fund dubious Assets outside India whose
value is suspect and now these Public limited Companies quoted on Stock exchanges are in
doldrums. Had SEBI acted on the alarm raised by Public Deposit FD Holders things would never
have gone out of hand.
Best regards
Rajesh Rampal Shreya Rampal Renu Rampal Priya Rampal
CC. PMO, South Block, New Delhi
CCI. Honourable Finance Minsiter North Block, New Delhi Sh Arun Jetley
CCII. Finance Secretary Sh Rajiv Mehrishi IAS
CCIII. Honourable Law Minister, Sh. D.V. Sadanand Gowda, Shastri Bhavan
CCIV. Secretary Ministry of Law and Justice, Legislation. Dr Sanjay Singh, Shastri Bhavan
CCV. Secretary DIPP. MOC. Sh. Amitabh Kant
6. ANN
ANNEXURE II
From: rampalrajesh@hotmail.com
To: gyanbhushan@sebi.gov.in
CC: psaran@sebi.gov.in; chairman@sebi.gov.in; nseiscdel@nse.co.in
Subject: SEBI transfers SEBIE/DH15/0000911/1 to NSE!!!
Date: Wed, 27 May 2015 15:51:54 +0530
Rajesh Rampal
57 Vaishali, Pitampura
Delhi 110034
9013975711
rampalrajesh@hotmail.com
Sh. Gyan Bhushan
Executive Director
Office of Investor Assistance and Education (OIAE)
SEBI
Mumbai
Dear Sh.Gyan Bhushan,
•We lodged a complaint on Scores.gov.in bearing reference no. SEBIE/DH15/0000911/1 on
23rd April 2015. This complaint was against registered Merchant Banker Bajaj Capital
Ltd. SEBI Regn. No. MB INM000010544.
•We have not heard anything from SEBI despite the fact that more than 30 days have passed.
•The greater irony is that the Scores site shows now that the case is being dealt with by National
Stock Exchange Ltd under reference SEBIE/DH15/0000911/1
•NSE in turn writes to me quoting the same reference SEBIE/DH15/0000911/1 and asks me to
submit documents relating to JUST TRADE SECURITIES LIMITED. We have never heard
of Just Trade ever. NSE email below this mail. We have informed NSE that this does not pertain
to us.
•Please do investigate this matter expeditiously as we have apprehensions on the way this
complaint is being dealt with.
In fact we have another complaint to make against the same Entity -Bajaj Capital Ltd.
Best regards
Rajesh Rampal Renu Shreya Priya
===============================================================
====================
EMAIL FROM NSE
Date: Tue, 26 May 2015 15:10:21 +0530
From: nseiscdel@nse.co.in
To: rampalrajesh@hotmail.com
7. Subject: Complaint received
Dear Sir/Madam,
We acknowledge receipt of your complaint dated 26-May-2015 against JUST TRADE SECURITIES
LIMITED regarding Execution of Trades Without Consent. Your SCORES reference number received by
us is SEBIE/DH15/0000911/1 Your complaint ID is 1505241269300061.
It is noted that you have not provided the following documents.
CM: Execution of Trades Without Consent
1) Demat transaction statement
2) Correpondence if any, with the trading member
3) Contract notes
4) Ledger balance
5) Margin Statement
6) Statement of Accounts
7) Proof of Payment
You are requested to upload the above documents and update all details such as mobile number,
facts of the case, etc. in order for faster processing of your complaint. Kindly ignore the mail if all
details available with you have been provided.
Your user ID and password has been sent to your email ID- rampalrajesh@hotmail.com. You may
update/upload details by logging in through your user ID.
Yours faithfully,
Investor Services Cell
For National Stock Exchange of India Limited
8. ANNEXURE III
AnnN
Details from Scores.gov.in on 12th
June 2015 -SMS & Email received on 11th
June 2015 regarding
complaint SEBIE/DH15/0000911/1
Registration Number : SEBIE/DH15/0000911/1
Name of
Complainant
: Rajesh Rampal
Date of Receipt : 23 Apr 2015
Current Status : Case disposed of
Case Resolved by : Dealing Officer, SEBI
Remarks :
In view of the replies from the Merchant Banker and Exchange the complaint
is being closed.
Status Date : 11 Jun 2015
Attached Document : View Attachment
9. ANNEXURE IV
INVESTOR SERVICES CELL
Ref. No. 1505241269300061 May 28, 2015
Mr Rajesh Rampal 57 Vaishali Pitampura Delhi-110034
Dear Sir,
Sub: Your Complaint against M/s Just Trade Securities Limited
This is with reference to your complaint against the above mentioned trading member received through
SEBI.
In this regard, we are in receipt of a letter dated May 27, 2015 from the trading member stating that you
do not hold a trading account with them. Copy of the response by the trading member is being
forwarded to you.
Also, we are in receipt of your email dated May 27, 2015 stating that your complaint is against M/s
Bajaj Capital Ltd.
In this regard, we wish to inform you that M/s Bajaj Capital Ltd. is not registered with us as a trading
member.
Further, , we wish to inform you that only disputes / matters arising out of trades executed on the
Exchange through a trading member / registered sub-broker of a trading member are taken up by the
Exchange for redressal.
In view of the above, we regret our inability to pursue the matter further and your complaint is being
treated as closed in our records. Further, you are requested to take up the matter with an appropriate
forum.
For further assistance, you may contact the undersigned on 011-49393033 / 23459133 or email to
nseiscdel@nse.co.in
Yours faithfully, for National Stock Exchange of India Limited
Gurleen Kaur Assistant Manager
This Document is Digitally Signed
Signer : Kaur Gurleen Tarvinder Date: Thu, May 28, 2015 17:26:56 GMT+05:30 Location: NSE
10. ANNEXURE V
Note on SEBI and unscrupolous Promoters - Flight of Capital from India
Investors interest compromised
Our new NDA government has launched a campaign world wide called MAKE IN INDIA. The first factor of
Production required for any new project is Capital.
Unscrupolous Companies (Plethico Pharmaceuticals Ltd., Omnitech Infosolutions Ltd - (and) Elder
Pharmaceuticals Ltd.) borrowed short term funds from Public under the terms of Section 58 of the Indian
Companies Act 1956 and after approval from the Central Government. These Companies used these funds and
other debt funds to acquire dubious assets abroad and have now failed to repay interest or Principal Deposits to
Investors. There has been a flight of Capital from India by these Promoters and none of the Promoters have
been booked so far unlike Subrato Roy of Sahara. Registrar of Companies, Ministry of Corporate Affairs,
SEBI and all other Government agencies are silent spectators despite the stringent provisions of the Indian
Comapnies Act 2013. In fact such Promoters have been aided by Brokers- Bajaj Capital Ltd who has misled
the Public with misleading claims and false advertisements by Anupam Kher, a Bollywood celeberity.
How will capital be raised for MAKE IN INDIA if it is allowed to fly from India and genuine Investors robbed
of their savings under schemes approved by the Central Government. Indian Public Investor participation is a
must for the MAKE IN INDIA story to happen. Capital formation and Investor protection go hand in hand.
• Public Limited Companies quoted on the Stock Exchanges both NSE and BSE seek and get permission
from Central Government to raise deposits under Section 58 of the Indian Companies Act 1956 prior to
2012.
• After getting necessary permission from Central Government they invited Deposits from Public through
Brokers
• Deposits were received from the Public and these Companies used these Deposits and other debt funds
to invest in dubious assets abroad.
• The same companies were passing through a loss making phase but still managed to take funds abroad.
• Now having no operational profits they have neither paid interest nor repaid deposits to the investors
since years. All their cases are in Company Law Bench Mumbai or the Mumbai High Court.
• The Brokers mainly Bajaj Capital Ltd. Resorted to unethical and misleading claims and advertisement
and conned several Investors to invest in these dubious Companies. Anupam Kher was the main
celebrity who advertised on behalf of Bajaj Capital.
• SEBI does not register complaints against Corporates for non-payment of interest or Deposits due to the
present law. Companies never reply to any queries. The members of the General Public are not allowed
to visit or enter the MOCA and their officials never grant an audience nor pick the telephone e.g. Sh
R.K. Pandey in MCOA is never available nor was the Ministries online grievance mechansim in place.
Former Secretary Naved Masood or Jt. Secretary Manoj Kumar never replied nor responded to
telephones or request for meetings. Bajaj Capital a SEBI aproved Merchant Banker and Broker in all
these transactions now stands on the sidelines having a good laugh while his clients suffer.
• The complaint of Investors in FD's in Corporates is the first indicator that things are NOT right with the
Company (quoted on Stock Exchanges) yet SEBI refuses such complaints as they are not securities. This
needs to be changed. Nor is any check carried out by MOCA/ROC's to ensure that the requirements of
the Companies Act in terms of Public Deposit Borrowing Companies are being adhered to.
• Had SEBI been authorised to register such grievances in the first place it would have raised a RED
FLAG and GOI and other agencies would have monitored such Companies closely. Necessary changes
need to be brought into the laws for this to happen.
• Unscrupolous Promoters of the aforesaid Companies need to be transferred where they belong -behind
bars with all the people who aided them in their objectives.
