Huge loss of investment of 2.5 lacs

Name of Complainant PALLAB JYOTI PHUKON
Date of ComplaintOctober 21, 2019
Name(s) of companies complained against
Category of complaint Investments
Permanent link of complaint Right click to copy link
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Text of Complaint by PALLAB JYOTI PHUKON:

Dear Sir/madam,

  This is to inform you that i have registered for alliance research group by paying 5000 rupees through your executive Mr manish on first week of September. Then he told to subscribe to 70,000 package for 3 months .I have paid half of the amount.during this period ,he provide me calls which were near to satisfactory. As i am a service person , it is not possible for me to pick every call of him because of my busy schedule.When manish observed this problem he offered me profile handling package of total 1.5 lacs by their experts so that i can be tension free.I paid them total 1.5 lacs and he told that my profile will be handled by Mr Amit. When i gave my password to Mr amit on the first service he gave me loss of 17000 on investment of 1.3 lacs.Then he told not to worry about and your losses will be recovered.Then Amit told me that my profile is only activated for equity cash and not for f&o.And the equity market is fluctuating Then he and his boss name ayush insisted me to activate my f&o services through my broker zerodha.They both have told me that this time there will be no losses as my profile will be handled my your company head Mr Ayush who as per Amit and Manish version had a great experience in share market .But for that both Manish and Amit insisted me to subscribe to 5 lacs package which is the minimum subscription fees for profile handling by his boss Mr Ayush.They also have assured that once the profile reach his boss hand it will be only profit.I also told them that I don’t have money to subscribe to 5 lacs package but they all played the second conspiracy against me saying I don’t have to pay the entire amount of 5 lacs but only one lakhs more than 1.5 lacs which I have already paid.
I fall into their conspiracy with their confidence of return 3 times of the paid amount and paid another 1 .18 lacs as fees including GST fees.So total I paid 2.68 lacs as fees to your company  as registration.They also told me that I have to pay the balance amount of another 2.5 lacs only after 70 Percent profit they have earned I,e around 1.7 lacs. So, after I paid the amount of 2.68 lacs they (Amit) started to invest with the help of Ayush in options which I loss the entire amount of my investment of 1.3 lacs in one week.Amit still told me not to worry this happens with the share market.I was told again to invest another RS 50000 into my account for recovery of my losses that had incurred due to profile handling.At first I denied to invest as huge losses has  been made and I came to road within one month.I have taken  loan from  bank to give the entire money of 2.68 lacs and my investment of 2 lacs. When I told my story to Mr Ayush he told me to trust him and put 50,000 rupees to my demat account to recover my losses and assure that if it still goes to losses he will talk to management to refund the amount.Accordingly I agreed and deposited 50,000 rupees.
But same thing happen.Again they take the put call and gave me losses of 47,000.So total they both gave me losses of 2 lacs losses and they don’t even regret for the losses .
So at last I must say the three robbers of your company name Manish,Amit and the main head Mr Ayush very intelligent ly robbed my hard earned money now they are saying to complete my profile of 5 lacs then only he can go for any legal.This is a total conspiracy against me by saying that my profit will be around 3 to 4 times of my invested amount and at last they robbed my hard earned invested money of around 2 lacs and subscription fees of Rs 2.68 lacs.
Total these three give me losses of around 4.5 lacs  including investment and subscription fees.
Now it is pertinent that  i don’t want to continue your services and I want my money back as I have earned these money in three to four years and I lost it within 2 months by not trading myself but by trading by your executive Mr Amit and Mr Ayush.
Kindly note that first of all I subscribe to 70,000 package. Then your executive Amit and Manish forces me to subscribe to 5 lacs package for higher return. Now you cannot force me to complete my profile .
Kindly refund my money at the earliest. I am attaching my invoice of my payment as registration fees.
Regards,
Pallab Jyoti Phukon

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