With profound regret I Joseph George Client ID 762101 would like to bring to your notice that I have been cheated of Rs 40,751 by unauthorized trading done by the former branch manager Ms Jhansi of Aditya Birla Money, Chandanagar Branch, Hyderabad, apparently to earn brokerage for the company and communicated FABRICATED PROOF OF SHAREHOLDING to prevent any action on account of the same.
On Oct 20, 2009, as per ledger records I had taken payout of Rs 19000 leaving a balance of Rs 40751. 42 in my account. Last week of October 2009, on checking back with the branch alarmed over receiving debit SMS messages I was told with apology on phone of the unauthorized purchase of 400 UNITECH shares on my behalf at Rs 100 per share that had fallen in value and also that the same would be squared when the share value rises. On 4 Nov 2009 I requested proof of holding and an email message was sent containing details matching with what had been communicated earlier of 400 UNITECH shares holding in my name among other clients listed in the common generated report. Since then I was tracking UNITECH share price so that I could redeem it at a suitable time. Recently early July 2010 when I visited the local branch office, I was shocked to learn that my entire balance had been wiped off and I had no shares whatsoever in my account. As per ledger records, my account was wiped out on 29 Oct 2009 itself IMPLYING THE REPORT GENERATED ON 4 NOV 2009 WAS FABRICATED The local branch manager Ms Payal and her boss Mr Anup said that I’d have to go after the employee. I then sent a letter to the AGM of the company in Chennai but they did not care.

Hi

Please lodge a FIR for theft and take them to court. Also report the same to RBI, there is provision where you get Rs 100 for every day delay they cause.


Thanks
Bikash

I came to understand from various customers of Aditya Birla Money were cheated and make them to lost money. I hope the company is policy getting commn on customers if they loose money instead of getting good returns from shares business. The management policy is to cheat customers. I hope you may be knowing the MD of Adity Birla Money is resigned of wrong betting. I feel all the customers who looses money should write to SEBI and RBI to insist to cancel the license of AB Money. The marketing team also playing cheap tricks to attract new customers to do invest Rs.25000/- and getting Rs.4000/- pm as profits.

Please send messages to all your friends and known persons not to invest in AB Money.

I am also victim of cheat from adiya birla money. Branch Manager Ahmed Ali Sheikh has asked me to open account with ABM giving me attractive scheme. Now I see that lot of charges are applied which was not discussed and as promised i was under trader scheme where this charges were waived off.
It was also found that share where brought and sold in my account with out my instruction and knowledge.

Now when i am making complain in written to branch office, on mail.. no one is responsible to reply or look into matter..

More over when i try to make a complain at customer grievance on email address provided on there website 'abm.investorgrievance@adityabirla.com' mail is getting bounce as invalid id. What a unprofessional and shameless culture Adiya birla money have....