Investor complaints are piling up with SEBI and the NSE against the dealings of Mumbai-based Anugrah Stock Broking (ASB), sources told BusinessLine . SEBI officials have asked investors to upload their complaints on its grievance platform SCORE, a source said.

On August 3, the NSE had withdrawn ASB’s trading rights and asked it to deposit ₹165 crore. It found ASB was running an unauthorised derivative advisory under the guise of which it had collected a huge amount. ASB was active in options trading and promised high returns in its portfolio management schemes. It is not known if the schemes were approved.

A few days ago, the Securities and Appellate Tribunal (SAT) asked the NSE to restore ASB’s trading rights but directed the broker to deposit ₹165 crore with the exchange — the money alleged to belong to investors. The next hearing is scheduled for October 14.

Meanwhile, investors have started complaining about the money owed to them and how some of the contract notes issued by ASB may have been fake. E-mails sent by a few large clients and reviewed by BusinessLine say they recently found the broker had issued them fake contract notes. “We do not have proper contract notes and those that we got this year seem fake. We have not received any contract note for our trades since February from ASB. We need to establish our actual loss or profit for the accounting year 2020-21,” said an email from a high net worth client.

ASB Chairman Paresh Kariya did not respond to repeated calls and WhatsApp messages from BusinessLine .

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