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Excess interest being charged on MTF transactions
Dear Sir, I want to discuss about excess interest being charged by my broker I.e Sharekhan. Kindly revert.
( Gautam Buddha Nagar, Uttar Pradesh )
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A.
Dear Client,
GEPL Capital Pvt. Ltd. (GEPL) has obtained the prior permission of BSE and NSE for providing Margin Trading Facility(MTF) to the clients and is eligible to provide a Margin Trading Facility (MTF) following SEBI & Exchange Guidelines as specified from time to time. The Risk Policy and terms & conditions, along with the rights and obligations as prescribed under SEBI circular no. CIR/MIRSD/16/2011 dated August 22, 2011. As per Clause 16 of the said circular that deals with the redressal of grievance, if the client has any protest or disagreement regarding any transaction carried out under the margin trading facility, they should notify GEPL within 24 hours from the date of receiving the relevant documents, statements, contract notes, or any other communications. Any disputes arising between the client and GEPL about the margin trading facility(MTF) will be resolved through the investor grievance Redressal mechanism and/or the Arbitration mechanism provided by the stock exchanges, similar to the resolution process for normal trades. The client shall lodge a protest or disagreement with any transaction done under the margin trading Funding within 24 hours from the date of receipt of such document/statements/contract notes/any other communications to GEPL. Given the provision of the circular of SEBI, you can lodge your grievance against your broker for overcharging of interest to the GEPL Capital Pvt. Ltd. (GEPL), endorsing a copy of the grievance to SEBI for a resolution in the matter.
GEPL Capital Pvt. Ltd. (GEPL) has obtained the prior permission of BSE and NSE for providing Margin Trading Facility(MTF) to the clients and is eligible to provide a Margin Trading Facility (MTF) following SEBI & Exchange Guidelines as specified from time to time. The Risk Policy and terms & conditions, along with the rights and obligations as prescribed under SEBI circular no. CIR/MIRSD/16/2011 dated August 22, 2011. As per Clause 16 of the said circular that deals with the redressal of grievance, if the client has any protest or disagreement regarding any transaction carried out under the margin trading facility, they should notify GEPL within 24 hours from the date of receiving the relevant documents, statements, contract notes, or any other communications. Any disputes arising between the client and GEPL about the margin trading facility(MTF) will be resolved through the investor grievance Redressal mechanism and/or the Arbitration mechanism provided by the stock exchanges, similar to the resolution process for normal trades. The client shall lodge a protest or disagreement with any transaction done under the margin trading Funding within 24 hours from the date of receipt of such document/statements/contract notes/any other communications to GEPL. Given the provision of the circular of SEBI, you can lodge your grievance against your broker for overcharging of interest to the GEPL Capital Pvt. Ltd. (GEPL), endorsing a copy of the grievance to SEBI for a resolution in the matter.
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