Unauthorized trading of Shares in Client's Demat Account -Broker held liable for making good the losses suffered by the Client. Adv. Rohit Erande. ©
*An Important Judgment Indeed - For Brokers and for Investors..* *Unauthorized trading of Shares in Client's Demat Account -Broker held liable for making good the losses suffered by the Client.* *Adv. Rohit Erande.©* Case Details : VAMAN NAGESH UPASKAR & ANR., Goa (Appellants) V/s. INDIA INFOLINE LTD. & 2 ORS. (Respondents) BEFORE: HON'BLE MR. JUSTICE V.K. JAIN, PRESIDING MEMBER. Judgment Link : http://cms.nic.in/ncdrcusersWeb/GetJudgement.do?method=GetJudgement&caseidin=0%2F0%2FRP%2F2873%2F2014&dtofhearing=2020-10-28 Facts in nutshell : 1. The case is of 2009. The complainant / appellant opened Demat Account with respondent No.1 in India Infoline Ltd. It is the case of the Complainant respondent No.3 - Siddesh A. Prabhudesai, an employee of Respondent No.1 - India Infoline Ltd carried out unauthorized trading /selling of shares in his Demat Account without his consent and caused heavy losses to him to the tune of Rs.1,72,020/- and even though the Com