[Resolved] India Infoline Limited — UNJUST,UNFAIR RISK POLICY | |||
Dear MADAM/SIR, Still i doubt your rist policy since few days back my R.M inform me that now my scipt will be sell off/square off by the H.O if my account is in debit for more then 5 days even my account may be in GHV cover of 50 percent or above. moreover i received information regarding your risk policy at my terminal helpdisk in responce to my query your agent reply jist/copy of the same is pasted below which says that if my GHV cover are 25% my script will be square up to bring my account in cover coordinate with your concerned risk department and speak in one voice else the customer shall lost faith on your broking house and in spite of having state of art and sophisticated technology the customer base will will be been on sinking as since a year i have met lot of your previous customer who have closed their account with your broking house and shifted to reliable broking house due to your unfair,frequent changing,unstable,hassy,unclear and unjust risk policy,pl go through the response sent by your help desk agent to me is as follows : Agent Response : As per your query, we understand that there has been a debit sale of scrips from your account on NAUSHAD9. However, this sale had been done in order to keep your account in an appropriate cover. This is to inform you that your account is under NFDC(Non Funding Category) where your normal trading limit is 25% which is revised currently. This is to inform that as per the risk policy of our company your account should remain in the cover of 25% and above. If your account is in considerable debit and your GHV Cover comes down below 25% then our Risk management will sell the stock and bring your account cover to 25%. Note that unclear cheques are not taken in to consideration, if your account is in debit balance. Please note that if your account has a debit balance due to which your account was below the GHV cover, thus to bring your account in a safety cover our Risk Management had sold the stocks from your portfolio. Your account can be in debit balance only for 5 consecutives day and on 6th day our risk department will square off the positions to bring your account in normal trading limit. If you still have any doubts and queries with regards to your below query, we request you to please revert to us so that we are able to assist you accordingly with the same. On Tue, 18 May 2010 15:05:31 +0530 wrote > Dear Sir/ Madam, We apologize for delay in response. With reference to your mail for the login id: NAUSHAD9, kindly note that your account is mapped under NFDC category and as per the risk policy of our company your account should remain in the cover of 25% and above. If your account is in considerable debit and your GHV Cover comes down below 25% then our Risk management will sell the stock and bring your account cover to 100%. Note that unclear cheques are not taken in to consideration, if your account is in debit balance. Further clarification we request you to get in touch with your relationship manager in this regards. We apologize for the inconveniences. Kindly note intimation of debit balance mails are sent to the email id mentioned in the document and also while login into the terminal would get alert stating account below cover and need to contact Relationship Manager to avoid liquidation of stocks by RISK Assuring you the best of our services at all times. Please get back to us for any clarifications. Warm Regards, Ashvini.A ------- Forwarded Message -------- CASE :- 635091 From : [protected]@rediffmail.com Date :[protected]:05:04 PM Subject : {Spam?} UNFAIR,UNJUST,ARBITRARY, DISHONEST IIFL RISK POLICY To : [protected]@indiainfoline.com This is unclear,clouded,unjust and unreasonable that the IIFL never give the clear and just information regarding the risk policy to there customer,as i am your customer since last 2 years,and as i was informed by your broking house authority that i am entilled to take debit exposore below 50% of my holding value.but it is very unfortunate that even maintaining exposure/debit amounting to 50% of my value very often my possition was square up within any information to me,secondly whenever i could not trade for continues 10 days in such also my possition was sqaue up for petty amount of debit in account,moreover now i came to know that my possition will square up if there is outstanding/debit lyinging my account for more then 5 days. This is very shocking that IIFL do not have any certain risk policy but for there personal gain squaring up the possition of the customer within permissive limit,inspite of receiving interest from the day one of the debit/outstanding. If a broking house do not look aftwer the interest of the bonafide customer and/or do not disclose it fair risk policy the customer will be contained to shift to other reliable,honest,and competent broking house as i have seen decline in the IIFL customer base since last 2 years. I therefore request the IIFL to come with fair,resonable and just risk policy else they will lost trusof bonafide customer and the day is not far when it will not find any custome http://sigads.rediff.com/RealMedia/ads/click_nx.ads/www.rediffmail.com/signatureline.[protected]@Middle? Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
2 Comments | |||
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IIFL Center, B Wing, Trade Centre, Kamala Mills Compound, Lower Parel, Mumbai, Maharashtra, India - 400013
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