MCX India has not made the strict norms in AUdits to their Members for making the payouts of credit balances of their customers on quarterly basis, instead MCX India has given them waiver by penalising the members with few amounts.
The members “Dreams Comtrade Pvt. Ltd.” from Thane has taken the undue advantage of this facility and eaten up all the credit balances of every customers.
In this context I want Sebi to act very strictly in this matter and to protect the investors, as this would lead to set a wromg example in tha Market and any Broker can dare to do this to make quick money wihtout any problem.
If that is going to be the case, then I request to cancel all the licences of the broker as no one can have fith in the Broking Firm henceforth, instead make only banks accountable to have DMAR as well as trading Account, which would much safer than any broker.
Also govt. has given FDI to operate in MCX, if this kind of issues, MCX need to improve upon their procedures and process to transparancy and clarity, also to ensure that money invested in trading are protected, and no Broker can sifen the monety from any investor.
Thanks n Regards