Sh. Deepak Arora age 24 yrs of India Infoline Pvt. Ltd. contacted me on phone to become my portfolio manager to manage my share trading account. I told him I was not interested. Thereafter, he pestered me till I finally gave in. He told me account opening was Rs. 5000/-. Thereafter, nothing else was required. After opening the account, he further pestered me till finally I gave in and put into my account Rs. 130,000/-.plus the initial Rs. 5000/-. I signed a lot of papers and in my ignorance may have made many mistakes. 2. Thereafter, telling him not to do anything as I would be away from Delhi for about a month and hence, would not be able to trade on my account. 3. On returning after a month, I discovered to my horror that there was a balance of only Rs. 30,000 in my account as Sh. Arora who had no knowledge or experience had been trading on my account by asking people in his office or in the corridor of his office building as to where to buy and sell and was continuously losing money in a sharply rising market Sensex going up from 12,000 points to 13,000 points during this period. 4. On confronting Sh. Arora, he said he would recover the money within a month. This did not happen and hence, I approached the manager of the branch, Sh. Ramashri Rai. 5. Sh. Rai then took over the account but the recovery over 2 months only brought the account to a balance of Rs. 40,000 and he also said he could do no further while the sensex continued to move upwards. 6. Fearing further
