Anonymous on "Sharekhan Ignite trading class"

A broker named Sharekhan has started an online coaching class on intraday long back on equity trading,forex trading,commodity market trading,futures & options trading.Through this class the mentors(teachers) give lecture online in a virtual classroom in the form of webinars.Already registered participants get link to join the class online well intime,so that they can watch mentor's (teacher) computer screen,and his voice.Mentor is not seen to participant.Everyday participants get recorded clip of coaching on their e mail inbox in the sameday evening.Almost for 1 month they teach.Through the coaching ,they teach their strategy which they call as a core strategy by which they teach how to place trades to get profit everyday.and assure participants that in the course of time participants will add several zeros to their account (gain profit and get rich) when they complete training and start practising them selves.They also give intraday trading calls after this 1 month training for practise ,with the help of which a participant is supposed to place 40 intraday trades directly.These trades are called controlled trades meaning trades tobe placed in broker controlled environment.One can place his own prepared intraday trade provided maximum value of risk to reward ratio is nearby 2.and risk of possible loss limited to Rs.125 to 150. They say that in these 40 trades ,the loss incurred will be borne by Sharekhan And profit will belong to the participant.But they have designed the calls on the very principle that maximum loss per trade is not more than Rs.125 to Rs.150 .
I joined the class in july 2014. Sharekhan charged Rs.40000/- for me to participate as entry fee.I attended all webinars online for 1 month .Placed almost 96 trades,out of these trades only 42 got entry.out of these 42 only 10 trades were in profit and rest in loss.untill now they have not returned me loss incurred as they said.The profit incurred is so small some what Rs.1700/- in total.My internet expences for attending webinars,studying repeatedly by downloading recording link clip,studying & placing trades is Rs.4000/-.Now,they are advising me to practise more .In brief,the strategy which they sold us didnot work as they advertise or create beautiful picture of getting rich before participants or public as a whole..Untill now they have 1001 participants in ( perhaps) 1 year means they earned 1001 x 40000=Rs.40040000 and participants have earned only loss ,frustration,wastage of time.energy,money.What law will call this fact in legal terms I don''t know ...FRAUD.