[Resolved] Kotak Securities — Kotak Securities cheating its customers | |||
In 2012, Kotak Securities lured me into taking an advanced brokerage scheme of Rs lakh plus with a false promise of earning back the brokerage with safe calls. Since then my accounts which was worth Rs. 20 lakh is now reduced to Rs. 7 lakh. I am holding all calls given by Kotak in severe losses. Kotak gives some calls without a stop loss, and I am not aware of market so just believed them blindly, In March I have incurred a lost of Rs 2.5 lakh as they gave calls but absolutely no tracking & no stop loss put. I have sent several escalation emails to ks.[protected]@kotaksecurities.com, their customer support is useless and on every email to ks.[protected]@kotaksecurities.com, I would get a response starting as 'This is with reference to our telephonic conversation today' when they haven't even called me. Dear consumer complaint forum, please help me getting my lost money back. Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 3 Comments | |||
Comments
Dear forvkm23,
We have noted your complaint and also have checked with our customer service department. We have learnt that the orders which you have mentioned were placed in your account as per your knowledge and consent. Also, you would appreciate that we act only as an intermediary for executing orders and the ultimate decision for placing any order is with the customer. As always, our branch officials strive to contribute their best of efforts in catering to your requirements and are glad to assist you in future as well.
Regards,
Team Kotak Securities
We have noted your complaint and also have checked with our customer service department. We have learnt that the orders which you have mentioned were placed in your account as per your knowledge and consent. Also, you would appreciate that we act only as an intermediary for executing orders and the ultimate decision for placing any order is with the customer. As always, our branch officials strive to contribute their best of efforts in catering to your requirements and are glad to assist you in future as well.
Regards,
Team Kotak Securities
The Kotak Securities has the worst customer service and no two ways about it.Whether it is the back office for assistance or the agents who take orders for trade.At one instance after having transferred my account from Ghatkopar to Malad west link road, I was so fed up with their response with lack of core competency that I told them that I will stop trading with them and guess what the response was 'You are welcome to do that", this i brought to the notice of my RM, Mr. Sheikh Salaudding, who then promised me good service this time and requested me to return to the earlier Ghatkopar branch.I agree with you and also have lost quite a sum on their Keatpro X due to its malfunctioning.
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+91 6652 9191
+91 6621 6666
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, India - 400051
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I have sent so many emails to this email-id, either it bounces back or some automated message would be sent followed by another email after 1 week starting with 'As discussed over telephonic conversation' & the complaint is closed, when when they haven't even bothered to call up the customer.
I request the consumer complaint forum to take stringent action against kotak for cheating their customers who trust them & provide so much of business to them. I would also like to know if an FIR can be raised against such corrupt practices.