My stock broker (SAMCO SECURITIES LTD) debited my money from my demat account without my consent in the name of Shortfall Margin Penalty. They debited my money 13 times. In the beginning i thought thats a brokerages and other transaction charges, until on 30/11/2022 when they debited Rs. 1,70,154.5/- then i call to samco helpline number. And they said its a shortfall margin penalty then i tell them about NSE circular “NSE/INSP/53525 dated :- 25/sep/2022”. Which is clearly said that member are not permitted to pass on the penalty levied by clearing corporation on account of “short/non-collection of upfront margin” to CLIENTS under any circumstances.
I filed a complaint against him but he is a good talker , everytime we have a meeting via NSE, he denied all things. And say i cannot pay it myself, Its been more then a three months.
So please help me what to do. I don’t have soo long time.