Zerodha Broking Ltd — Money Refund Issue for Failed Mutual Fund Payment.

Address:

Registered Office Address : 153/154, 4th Cross, 4th Phase, Dollars Colony, Opposite Clarence School, J.P NAGAR, BANGALORE Bangalore KA 560078 IN

Dear Sir/Madam,

On 27 Jul 2022, I had made a payment towards purchase Quant Mutual Fund(ELSS Scheme) through 'Coin Section' of Zerodha/Kite portal and a sum of Rs 1, 55, 000 was deducted from my ICICI Account[protected] as per the following detail given by ICICI Bank SMS: "Dear Customer, ICICI Bank Account XX757 is debited with INR 1, 55, 000.00 on 27-Jul-22. Info: BIL*ONL*00045. The Available Balance is INR 1, 30, 861.38. Call 18002662 for dispute or SMS BLOCK 757 to [protected]."

Immediately I contacted the customer support Zerodha, he said if the purchase has failed then money will be refunded in 24-48 hours. Since no money has been refunded, kindly check the present status and take necessary action to refund the money and resolve technical issues if any.
The complaint are registered with the Zerodha Support Portal under ticket #[protected] – Money Refund Issue for Failed Mutual Fund Investment.

Since then I had been continuously reminding them about the issue through support ticket but they have been giving various excuses without giving details to me now they are neither escalating the issue nor taking up with BSE nor they are responding since 18 Aug 2022.

Meanwhile the matter has been referred to the SEBI too.

But the company is behaving in very unprofessional manner.

Thanks,

Captain PK Singh(Retd)