RIPPLES ADVISORY-WORST EXPERIENCE: LOOTED 3.35 LACS, HUGE LOSS OF 7.0 LACS, LOW ACCURACY, SLOW RESPONSE, FAKE CALLS, BAD TIPS & COMPLETELY FRAUD COMPANY

I am from Bhopal & I am a day trader. I request the reader please read my complaint completely & patiently. I want to share some words about Ripple Advisory.

(1) WHO IS RIPPLE ADVISORY:
It is Share Market advisory company, which provides share market call/ tips/recommendation/advice. It is a SEBI registered company having following details:
Name RIPPLES ADVISORY PVT. LTD.
Registration No. INA000003049
Category COMPANY
Contact Person SUCHITA TOMAR
Registration Valid Up to JUN 08, 2020
Registered Office Address 267-B,SANGAM NAGAR,INDORE,452006
Correspondence Address 267-B,SANGAM NAGAR,INDORE,452006
Phone 0731-00000
Email [email protected]

CONTACT INFO :
Ripples Advisory
Branch Add. :601, 602, shagun arcade ,near vijay nagar square,indore (m.p),
City : Indore.
Call Us: 9303093093,9827808090
Email:[email protected]

(2) HOW I CAME IN CONTACT WITH RIPPLE ADVISORY:
On 24.9.16, I received a call from Mr Anurag of Ripple advisory stating that he knows that I am a share market investor. He committed that if I follow his company’s tips then I can earn profit of Rs 5000-8000/- per day with the investment of Rs 40000-50000/- in share market. Then I got registration as a client for future & option tips by Mr Anurag on 27.9.16 by paying amount of Rs 5100/-. Any further fee was not communicated by Mr Anurag.

Later on, Mr Abhay Sharma of Ripple advisory called me on 28.9.16 and told that he has experience of 18-20 years in share market field, he is very senior researcher of company and if I follow his advice I can earn Rs 70000-100000/- per tip. Mr Abhay Sharma committed that he will give one call/recommendation daily and out of 22 calls in a month only one call may fail. He told that in one month I will play in lakhs & somehow he convinced me to become his client. As a registration fee, I again paid total Rs 50000/-.

1st call was given by Mr Abhay Sharma for put buy of Dr Reddy with stop loss and I lost approx. Rs 5000/- at stop loss.

(3) HOW Mr ABHAY SHARMA LOOTED MY 3.35 LACS & HOW I LOST 7.0 LACS:

(i) On 1.10.16, Mr Abhay Sharma called me & almost weepily expressed that he has to complete his departmental target of 90 lacs and there is shortage of 1 lac. He humbly requested that if I personally give him Rs 1 lakh, his target will be completed & he will become HOD of research department of company. Initially, I refused to give money as I did not have money but he said that it is question of his life time achievement of becoming HOD & convinced me to give at least Rs 5000/-. I asked him to give his account No., he told to pay money through company website. Hence I lend Rs 5000/- to him.

From 28.9.16 to 7.10.16 total 5 calls were given by Mr Abhay Sharma, out of which 2 were OK & 3 calls failed.

(ii) On 8.10.16, Mr Abhay Sharma called me and told that due date of remaining fee has come & instructed me to submit Rs 29900 /- so I submitted fee of Rs 29900 /- on 8.10.16.Any further fee was not communicated by Mr Abhay Sharma.

(iii) During the discussions, Mr Abhay Sharma told me that my broker gives me false information and it will be better if I open a DEMAT account with broker affiliated with Ripples Advisory. Meanwhile, unfortunately I informed him that to increase the limit for trading I have taken loan of amount 1.5 lakh from bank. Then he convinced me that for proper work and enormous benefit I should open DEMAT account with broker affiliated with Ripples Advisory. I deposited Rs 1.25 lakhs to open DEMAT account on 10.10.16.My DEMAT account is not opened till this date.

From 10.10.16 to 17.10.16, few calls were given by Mr Abhay Sharma & I earned satisfactory amount of profit & continued work with Mr Abhay Sharma.

(iv) On 18.10.16, Mr Abhay Sharma told me that he is in immediate need of Rs 2 lakhs otherwise he can leave the market & can leave his job. He told that he is in biggest trouble of his career. He told that if I help him all the money given by me shall be returned in one or two days to me. Based on his assurance, I deposited Rs 25000/- as a personal help on returnable basis.

On 19.10.16 Mr Abhay Sharma advised me to put buy 25 lots of KPIT(4000 shares per lot) telling that today is your day & you will earn at least 2.5 lacs. I came under his influence & put buy 25 lots of KPIT.Any stop loss was not suggested by Mr Abhay Sharma. But put value of KPIT did not increase, he suggested to wait till expiry date. Finally expiry date came & I lost approx. 2.6 lacs in KPIT. Later on call buy of Exide Industry & Apollo tyre was suggested in which also I got heavy losses. I had lost all my capital of approx. 5.5 lacs in these three tips of KPIT, Exide industries & Apollo tyre.

(v) On 1.11.16 Mr Abhay Sharma tried to convinced me not to give up. He told that yet you are in loss but still game is not over. He convinced me to come again in market with arrangement of Rs 50000/-. As I was already in loss so I thought that “agar 50000/- aur chale jaayein to koi baat nhi”. Anyhow I arranged Rs 1.5 lacs.

On 9.11.16 profit of Rs 97000/- was earned based on suggestion of Mr Abhay Sharma.I was glad as my loss was overcoming.

(vi) But on 10.11.16 Mr Abhay Sharma told that we have to work together for a long time, he can make my life & if I trust him I have to give Rs 1 lakh. He told that he has written on file & it is must to submit Rs 1 lakh. I refused but he promised that this amount shall be returned within 3-4 days. He pressurized me to give him Rs 1 lakh. Then I deposited this amount on 10.11.16 on returnable basis.
(vii) On 11.11.16, BSE/NSE were heavy negative but Mr Abhay Sharma suggested me to call buy 10 lots of Jain irrigation(9000 shares in one lot).I believed Mr Abhay Sharma & I followed his advice. On 17.11.16 he suggested to sell Jain irrigation with a total loss of approx.1.75 lacs.

On 17.11.16, when I had totally lost my capital of around 7.0 lacs, I asked Mr Abhay Sharma to return the money of amount 3.35 lacs which he borrowed from me. He replied that this amount has been adjusted in service fee & your service has been extended for two more months and this amount can not be refunded.

(4) DISCREPANCIES FOUND IN ONE & HALF MONTH OF WORKING WITH RIPPLE ADVISORY:

(A) Although Ripple advisory is SEBI registered company but still Ripple advisory is not following SEBI guidelines as follows:

(a) Any receipt of payment does not appear on website.
(b) Name/type of service was not disclosed in my case.
(c) My registration No. in company was not provided to me.
(d) KYC form is not filled.
(e) Risk level, I can bear was not agreed with me.
(f) Fee structure was not disclosed clearly.
(g) No written communication for type of service/ registration No./ KYC form/ Fee structure etc.
(i) Works without stop loss.

(B) Calls are already executed when you receive tip/recommendation. It is suggested to exit near stop loss means Stop loss calls are shown as cost exit. Calls are manipulated and misguiding.

(C) Even their track sheet & past performance shown on website http://www.ripplesadvisory.com are fake. Ripple Advisory shows only profitable calls on website. Don’t go by the past record they are showing on web site. They are just making fools.

(D) Low Accuracy as they committed & fake calls: Initially Mr Anurag committed me that accuracy of Ripple advisory is at least 90%.Later on Mr Abhay Sharma committed that he will give one call/recommendation daily and out of 22 calls in a month only one call may fail means he committed accuracy level of more than 95%.

But truly speaking, I experienced that accuracy level of calls provided by Mr Abhay Sharma is only 35-40%.Some calls given by Mr Abhay Sharma are totally fake. Due to this low accuracy & fake calls I have lost my hard earned money of around 7.0 lacs.
(E) Poor Services and Slow Communication: When they are not able to answer our questions they don’t call us or not even receive our calls. When they wanted money they called us so many times now they are not answering .Even the customer care executive is not answering.

(F) Ripple advisory does not have great exchanging knowledge: They are claiming to be a research company but these guys doesn’t know any thing about research. They don’t have great exchanging knowledge and thoughts. If they had research knowledge I would not be in loss of around 7.0 lacs.
(G) Fraud & fool making company: Very bad and fraud company: Mr Anurag & Mr Abhay Sharma made me fool and looted my 3.35 lacs.
(H) Ripples Advisory Cyber Crime raid: From internet, recently I came to know that Ripples Advisory and Bonaz Advisory are companies owned by brothers. Recently both the owners are arrested by police due to fraud they are doing.

Read the below news of Indianexpress dated 21.10.16:
http://indianexpress.com/article/india/india-news-india/call-centre-in-indore-raided-3-held-for-cheating-50-people-in-pune-3094266/
Content of the news is as follows:
“CALL CENTRE IN INDORE RAIDED, 3 HELD FOR ‘CHEATING’ 50 PEOPLE IN PUNE
A police team led by sub inspector Nitin Khamgal of cyber crime cell initiated probe in this case and raided an Indore-based call centre of Ripple Advisory Private Limited on Wednesday.
The cyber crime cell of the Pune city police raided a call centre based in Indore, Madhya Pradesh, and arrested three persons who allegedly cheated people by asking them to invest money, assuring huge returns.
The suspects have been identified as Manish Jain (27), Rajeshsingh Rathod (36) and Rajeshsingh Rajput (32). Probe so far revealed that they have cheated at least 50 people from Pune city.

The action was taken after a senior citizen Trimurti Nadar (70), resident of Tingre Nagar, Vishrantwadi, lodged a complaint of cheating in this case at the Vishrantwadi police station, on October 17, under sections 419 and 420 of the Indian Penal Code (IPC).
According to police, Nadar received a call on his cell phone a few months before. The caller asked Nadar to deposit Rs 11,000 in a bank account, assuring a return of Rs 15,000 after three days.

Accordingly, Nadar deposited the amount on August 11. Soon, he received a call on his phone assuring a return of Rs 5 lakh if he deposited Rs 1 lakh in the bank account. Nadar deposited Rs 1 lakh on August 24, but never got any returns. When the persons who approached him stopped receiving his calls, he filed a police complaint.

A police team led by sub inspector Nitin Khamgal of cyber crime cell initiated probe in this case and raided an Indore-based call centre of Ripple Advisory Private Limited on Wednesday. The police arrested three suspects and seized mobile phones and documents from their possession. Probe revealed that besides Pune, the men have also allegedly cheated people from Kolhapur, Thane, Mumbai, Nashik, Sangli and Nagpur. Police sub inspector Jeevan Borse of Vishrantwadi police station is investigating the case further.”

(5) MY HUMBLE REQUEST TO ALL THE INVESTORS:
My humble request is that please don’t waste your hard earned money and time in this fraud & fool making company. Ripples Advisory based at Indore is a fraud company. Firstly their charges are too high for the trading tips. Secondly, there tips will take you to bear heavy losses. Thirdly, they won’t even take your calls after that. Fourthly, they will stop giving you calls and will not even refund money. Fifthy, they make fool the people & ask for extra money other than fee.

This company should be banned. They are cheating all the traders & searching for new innocent one to cheat, they are all groups of gangster robbing money from poor traders & losing all their investments, SEBI is still watching this without taking any action. They are registered with just dial also.

Fraud No. 1 : Mr Abhay Sharma
Fraud No. 2 : Mr Anurag

All of them are cheaters.

I am suggesting to all my friends plz don’t take any advice by this company. This company is a complete fraud and just want money they have all false tips and want share in profit but no share in loss. Mr Anurag and Mr Abhay Sharma are completely fraudulent people with no idea and misguide you with wrong notions and tips. It’s a request pls stay away from their phone calls and share tips.

If any buddy have any doubt about my complaint then contact me on my No. 9406903569.Basant Tamrakar, Bhopal.

Further, I request the regulatory authorities to take strict action against such type of fake companies also suggest people to avoid such type of companies.