[Resolved]  Kotak Securities — Suspicious transactions resulting in financial loss

Address:

Thane, Maharashtra

I had very disappointing experience with KSL and urge people not to have any business with them, the business with them is suspicious and not trustworthy. Below is the incident which happened with me very recently. Background Information: I bought 100 shares of JSW steel on 31st October 2014 in open market for which I got digital contract note from KSL as well as NSDL. KSL has charged me for the same. On 4th Nov 2014 I sold those 100 shares in the open market. On 7th November I have seen 3 unusual JV entries in my account resulting in 20 shares of JSW left in my account. I was charged 25000 + 37000 (@150%) total 62000 in my account. Somehow they released the fund of 37000 after one week and charging me interest as well. But the 20 unwanted JSW shares are still lying in my account. Issue: When called up the customer care they released the Rs.37000 and promised to take back those 20 shares and also the loss occurred to me; however after several emails and calls they are now refusing to own their mistakes and giving absurd lies to me. I asked them few questions and they refused to answer me. Today it caused me huge financial loss as well as emotional and mental harassment. In fact one of their guys said “I have violated their systems” and they are punishing me. When I asked him to give in writing he refused. I need urgent solution to this issue. Additional Information: 7/11/2014 BSE JV Debit of 150% on short sale value JINDAL_VIJAYNAGAR_ST Qty. 80.000 Sett 2014145R 2028966 147462.40 0.00 110275.12 07/11/2014 BSE JV Debit of 150% on short sale value JINDAL_VIJAYNAGAR_ST Qty. 20.000 Sett 2014145R 2028948 36865.60 0.00 -37187.28 07/11/2014 BSE JV 1N7T8 SHORT REV 150% JINDAL_VIJAYNAGAR_ST 80.000 Sett 2014145R 2028966 0.00 147462.40 -74052.88 Feedback on Customer care: … 1. My customer security information was not verified which they should have ideally. 2. I was promised call back which never happened. 3. The rep would be very rude, will keep you on hold for long time and would not listen to the problem. Regards Sandeep [protected]