Angel Broking — Angel broking fraudulent company - charged on delayed payments more than 20 instances, without alerting me.

Address:Pune, Maharashtra, 411007
Website:www.angelbroking.com

My Client code is ‘G26673’ and my RM was 'Pranav Deshmukh till FEB 2016), Trading with Angel Broking very actively with large quantity in both equity and derivatives, since September 2014. Mostly 99% tradings are done by my Relationship Manager (Pranav Deshmukh) end and I have relied fully on my RM for trading/trade confirmation and net balance maintaining. I have realised lately and got shocked when i came to know about 'Charges on delayed Payments period..." more than 20 instances (amount is around 1, 50, 000 on these 20 instances).
But I didn't get any message alert on deduction or my RM is not informed me about these charges (If my RM informed atleast after 1 or 2 instances, then around 1, 50, 000 deductions (Charges on delayed Payments). I had already suffered a loss of 4 lacs because of fake strategy calls (again 1.5 lacs on delayed charges). Please find the attached document on delayed payment charges till August 2015, as i have reports only till August 2015.
Below are my questions.
1. If these charges will be applicable in case of delayed payments, why my RM/Angel Broking shouldn't let me know, after 1 or 2 instances (Not received messages/calls on delayed payments or limit crossed, even not alerted by my RM). Now I have self realized lately and ended up by paying more than 1, 50, 000 rs as 'Charges on delayed Payments period...'.
2. What is the motto behind not letting me know (even not by my RM, where he continuously calls me more than 20 times daily and request me to trade. But he never discussed/talked about the same charges or even not asked me to transfer some funds/sell some shares to avoid the 'Charges on delayed Payments period...').
3. Though I was entitled for 'Charges on delayed Payments period...' because of deliverables and on top of that my RM used to give me a call daily and insisted me to trade in derivatives/equities and he always used to say this is due to the active trading and to keep the deliverables on hold, but never informed me about the delayed charges. So here it seems their only motto is to get the brokerage and always kept mum/secret on delayed charges deductions.
4. If I wouldn't have realized about these charges now, then I have would have ended up by paying 'Charges on delayed Payments period...' and ultimately my capital (I have started with 10Lakh capital) becomes zero for the same reason with in short time.
5. I can say with 100% confident that, If I would have alerted very early/after 1 or 2 instances on these charges then 20 instances on 'Charges on delayed Payments' wouldn't have repeated and I wouldn't have paid the huge delayed payments (1, 50, 000 rupees). Ultimately I can say the beneficiary here is 'Angel Broking'.
6. Also my RM is changed on 2nd March, without informing me. When i gave a call to my RM, he said he got released from Angel Broking. On that i was holding Infosys, SBI and Jaypee Infra shares (Valued around 30Lakhs).

I have raised the complaint (both mail and call complaint – Complaint ID is '[protected]') with Angel Broking on 8th March and on that directly talked to manager (Rachana Koli) while raising complaint . I have requested them the total reports on delayed payment charges. She told me that she will send the reports by afternoon 8th March and also said get back to me in 2 days on my complaint. But neither i didn't receive any report to my mail nor I received call till 14th March.
Again on 14th March I gave a call to Angel Broking, they said they will get back to me with the details by EOD. But no call received till 16th March.
Again I gave a call to Angel Broking on 16th March afternoon, and then they didn’t connect me to complaint department, instead connected me to Pune branch head (Rajendra Deshmukh). He answered me very rudely and harshly saying, these charges are applied from the beginning (But no message communication on the charges deduction) and this is not RM’s responsibility to inform me about the 'Charges on delayed Payments’ (If they are not aware of the delayed payment charges why the hell of having RM to trade), what the hell are the sitting and doing there. When I started stressing on why i got more than 20 calls from my RM for requesting me to trade in derivatives/equity after holding around 30 Lakhs deliverables and they knows entitled for delayed charges. The Rajendra Deshmukh again answered rudely that they have lacs of customers and they will call clients for trading though holding huge deliverables and he also said these charges will go to the bank not to Angel Broking (If these charges will be paid to bank, they would have revealed on very first instance). Most of the time on call, he didn’t listen to me what I have said and started telling only his version that too rudely. After this, all of a sudden in between the conversation call got disconnected. I think they don’t want to answer and disconnected the call intentionally.
But no communication after the call disconnection. Again I gave a call to the complaint department, neither had they connected me to the complaint manager (Rachana Koli) nor to my pune branch head (Rajendra Deshmukh). Angel Broking seems to be don’t care about their client’s complaint.
Sir, Am loyal customer to Angel Broking and actively trading with huge quantity in both equity/derivatives. Already suffered major losses in both. Please my humble request you to refund my money.
If my concern not addressed and no call back on my complaint, If the issue is same, I will certainly not take this lying down and I will be preparing to file a case against Angel Broking for cheating me.
+1 photos
Was this information helpful?
No (0)
Yes (1)
Angel Broking customer support has been notified about the posted complaint.
Complaint comments 

Comments

Dear Gangasrinivas Devolla,
We regret the inconvenience caused to you. Based on the details provided, we will look into the matter and get back to you at the earliest.
Dear Gangasrinivas,

We would like to inform you that our Branch Official Ms. Amruta Mhakal has spoken to you and has addressed your query.
Thank you for giving us the opportunity to serve you.
ANGEL BROKING SUPER FRAUDULENT, SUPER CHEATER AND MONEY MAKING COMPANY ****

MY ID IS JANAK4005 and I am from Delhi, presumably dealing with their Karol Bagh Branch.

I don't have to write my story so much in detail as Gangasrinivas Devolla wrote .

It is because my story is exactly a cut copy paste of 90% of the scenarios. This company called Angel wants people to be in dark and keep charging in the back ground ..

Common Points :

1. Charges for delayed payments done with sequence
2. No information given for delay payment charges on any instance
3. I transfered funds in good faith Rs 300000 in their accoutn but they transferred it back for their settlement
4. No one answers the call
5. I even went to their branch, had to wait for 40 mins before i could meet any one
6. Their managers, cluster head were on high degree of rudeness
7. Their Cluster head Asheesh promises me that he will call back, he did not .. I kep trying for 5 days after goign to their branch but no response.. I had taken a leave to go there .. now i have to take another leave
8. called them so many times, no response
9. no one called to inform about any charges being applied on my account. had one call come to me i would immediately sorted that out
10. they find time to sell insruance products but not this

I am gogin to take this to their senior most levels and see what is their thought on the scenario

Anuj ( Delhi, Paschim Vihar)

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Angel Broking
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    54%
    Complaints
    1158
    Pending
    0
    Resolved
    609
    Angel Broking Phone
    +91 22 2835 8800
    +91 22 3083 7700
    Angel Broking Address
    G-1, Ackruti Trade Center, Road No -7, MIDC, Andheri (E), Mumbai, Maharashtra, India - 400093
    View all Angel Broking contact information