Complaint Details

Status	:	Closed
Complaint No	:	0006100/2013
Category	:	Business & Finance
Date	:	30-08-2013
Subject Line	:	Kassa made me bankrupt
Complainant	:	Nitin Rastogi
Address	:	Vasant Kunj
Complainee	:	KASSA FINVEST PVT. LTD
Address	:

Complaint Details
I am a service class person and started investing my money in direct equity with guidance of my friends and relatives. I save some amout of money buy investing in good stocks for my future needs. Everything was good till I came in contact with KASSA HOLDING & CONSULTANTS PVT.LTD.
I am an active trader with KASSA HOLDING & CONSULTANTS PVT.LTD for at least three to four years now and invested a lot of my hard earned money into equity as well as commodity. All these years the company executives have been doing the trading on my behalf. I incurred huge losses in commodity as well as equity last year because of this person, this is mostly due to the casualness of the person and as well as Company. Kassa has first of fooled me by transferring all my existing stocks from my demat account and transferring to Kassa saying that the company will give me
much better returns. I invested my money initially in the wealth account and was doing good when one day executive asked me to invest me in commodity, he kept asking me about the same for many days and forced me to opt for this option.

All my money was moved to commodity account from the stocks that I was owning. Last year I had incurred big losses (in relation to the money that I invested) because of the negligence of the employee. I am a service class person and such a big loss was very very shocking to me. It was all his and company’s negligence due to which I had to let go my hard earned money. Executives still kept fooling me and promised me that if he leaves some amount of money (around 50,000) in the account, he will be recovering the losses for me. He started with playing around again with my money and did show some profits in the beginning of this year.

I have been trying to reach executive from Kassa for last one month and have got no responses. After talking to the Kassa head office, they informed me that the person got transferred to the Pritampura office. I got the number from the lady at reception and called up at the Pritampura office of Kassa. When I called up Pritampura office I got to know that this guy had already resigned from Kassa and they have no idea about it. When the company is charging me brokerage from it clients, it is their responsibility to make sure he is informed personally about the organizational changes that can affect me. I believe that the company is only interested in making brokerages and making investors like me more poor.

Kassa is such an unprofessional organization that they don’t even know where their employee is and in fact whether the person is still there in the company or not. More than that they should have announced that person trading on behalf of me is no more in the company and should have introduced me to the new person who is taking charge of the same. I came to know today that my initial investment has again got into losses. It should have been the responsibility of the company to keep me informed about the investments I have done with them. There was no one senior at Kassa office that had time to speak to me when I called up.

I will be waiting for the response of the company towards this goof up that they have done with me and will be taking further legal actions against the company and former employee.

I request you to please take according actions so that the small investors like me are not cheated by these companies.

Thanks,
NITIN RASTOGI

Replies