[Resolved]  India Infoline Limited — IIFL - Breach of agreement for providing AMC lifetime free & started deducting AMC charges

Address:

Hyderabad, Andhra Pradesh

I have a trading account since 2009 and at that time I was charged Rs. 555 for life-time free membership (i.e. No AMC charges in future) . But from last few months (Aug-2014) I am noticing that amount of Rs 45 or more per month was deducted from my account as monthly AMC charges. It is completely breach of agreement and the words from your side. I have already requested for refund of AMC i.e., 555/- many times. But still there is no proper resolution for refund. Getting the crap response from your side "Dear Sir/Madam, In this regards, we would like to state that the DP charges have been revised in pursuant with the terms & conditions as per the KYC/Account opening form & Rights and Obligations of Beneficial Owner and Depository Participant as prescribed by SEBI and Depositories. Further note that DP Bills is inclusive of the below charges: Transfer or sell shares from your Beneficiary account. Calculated @ 0.04% of the value of transaction, subject to min Rs.25/ per instruction. Any Dematerialization charges Any Rematerialization charges Pledge Creation charges Annual Maintenance Charge for a month i.e.Rs.40+service tax (It is applicable to all as per revised policy of the company) This bill is levied in ledger on a monthly basis. Further we would request you to speak to your relationship manager for more assistance/clarifications. Incase of any discrepancy, you may revert to us within 48 hours by posting your query through 'Helpdesk' in your Trader Terminal or call our customer Service Desk at[protected]. We look forward to your co-operation and assure you the best of our services at all times. Warm Regards, Tabrez Customer Service Officer India Infoline Ltd" There should be compensation for the loss I am bearing due to the Breach of agreement for providng AMF lifetime free. Request you to refund the lifetime AMC charge i.e., 555/- otherwise I will make IIFL famous regarding the same in Facebook, youtube or other social media (Will share the link as well). Waiting for a positive response from your side. IIFL Client ID : OTCHSANJ