Investors of Angel Broking Financial Services at Punjagutta staged a protest at its office on Friday.
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Hyderabad: Investors of Angel Broking Financial Services at Punjagutta staged a protest at its office Friday, alleging that the company had pressurized them to invest in ' futures' against their preference for equities. However, the "amount deposited in futures was also squared off and without informing the same to the client, the company made them to deposit money again in the same policy," alleged the depositors.
The investors alleged that they initially started putting money in equities but later the representatives of the firm suggested them to invest in futures and assured them that they would take care of their investments. They collected deposits from investors and put them in futures. “I started trading two years ago and was investing in equity shares. I have done trading for upto Rs 4 lakh in this two-year period. But, I never faced such a problem," said Amarnath Reddy, an investor working with a private company in Banjara Hills. Due to continuous calls from the company representatives, he said, he decided to invest in futures.
“Though I did not have any knowledge of what futures is, I went ahead because of their prompting. I lost my money from the day I started,” added Amarnath. Executives of Angel broking services were unavailable for comment and no case is registered.
Initially, the agents assured investors they would guide them in the investments, but later washed their hands of the matter. “After losing Rs 70,000, when I asked them about it, they replied that it was my mistake that I selected some wrong option in the app resulting in the money loss," said Amarnath.
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( Source : deccan chronicle )
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