What can I do legally if investment company refuses to withdraw my funds?
I invested approximately 6 lakh on Sharekipo, but they are not allowing me to withdraw my money. I applied for an IPO, and my investment increased from 2.5 to 5 lakh, but then I was advised to invest that 5 lakh into another IPO. Currently, I do not have enough funds for the next IPO. They do not allocate shares based on demand; instead, they allocate a large number randomly. I consulted X, who mentioned that I should provide 51% of the amount, and he would cover the rest. Now, they are refusing to allow me to withdraw any funds.
To address your investment issues with Sharekhan, first review their terms of service regarding withdrawals and IPO investments. Document all communications with them, including emails and messages related to your investment and withdrawal requests. Contact Sharekhan’s customer support for a clear explanation of the withdrawal restrictions. If you receive no satisfactory response, file a complaint with the Securities and Exchange Board of India (SEBI). Additionally, consider consulting a lawyer for recovering your investment. If necessary, look into mediation or arbitration to resolve the dispute effectively.
Sir, firstly you should review the terms and conditions of your investment with sharekipo and if it is found that the refusal is unethical then you can seek legal advice from an expert lawyer who will guide you to the best possible action to withdraw your funds. For further legal assistance contact us on our helpline number.
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