Alice Blue India Complaints & Reviews

I worked in this company for 1 month during January 2013. I have to get releived from the company due to an emergency and I gave proper notification to the management and also they promised to give my salary. During this time I worked with the company I was was harnessed mentally and ill treated very badly by the director of the company Vijayakumar V. He asks the employees to work for 7 days. I also have the mail conversation where he first committed to pay the salary and later denied it. He treats the employees like slave and there has been a HR executive Anandhi.R in the Chennai, Velachery office of Alice blue who works as a spy for Vijayakumar V. Empoyees are mentally tortured and harassed. I never knew that such a complaint forum was there to help the victims. I only came to know about this forum recently. Please take necessary action against this company and help me get my compensation for all the ill treatment and harassment I suffered.

I have opened a demat account ( ZK02PK3) long back.I wanted to close my account and I have sent even mail for account closure but nothing has happened and I dont have any confirmation from them for closure. Even though, they are saying that account will be closed but my account is still open.

I have opened an account with aliceblue vide customer code: CR045 and I have deposited Rs.2, 50, 000/- (Rupees Two lakh fifty thousand only) on 28/07/2014 and the person who took the effort to make me invest (Mr. Silambarasan) promised that I will be surely getting around Rs.12, 000/- to Rs.20, 000/- per month from the amount I invested as profit out of it. Of course, to our surprise, I have been informed that Rs.10, 000/- profit amount has been credited to my bank account with IOB on 07/08/2014 along with Rs.1, 00, 000/- which needs to be diverted to Commodities trading. So, I have taken Rs.10, 000/- from my account and given a cheque for Rs.1, 00, 000/- in favour of aliceblue commodities and securities. On 23/09/2014, on my request, Rs.70, 000/- has been creditied to my account which I wanted to take off from the aliceblue investment. So, as per the records, 1, 80, 000/- (Rupees One lakh eighty thousand only) is continued to be kept with aliceblue for investment and to make income out of it via trading. As I am not aware of trading, I could not able to understand anything out of the pivot table or margin export contract note being forwarded by aliceblue to my mail id. I used to contact Mr. Silambarasan through my husband, and he used to tell us that market is not in good position to get profit and we used to say that profit is not necessary but our investment should not be lost. Whenever we enquire, we used to be informed that trading going on loss and the same will be recovered surely without any loss to the principle amount invested. I have insisted for withdrawing the amount which we invested but we have been advised to continue with the same without taking the money and he (Mr. Silambarasan) promised that the principle will be recovered soon. But to our shock, we got the statement from MCX and NSE showed that almost 50% of the principle amount i.e. Rs.90, 000/- has been lost by the unhealthy trading done by aliceblue employees. I need to inform that I will not keep quiet by giving my investment just like that. I want all my investment to be returned to me without any loss, otherwise legal action will be initiated against them. In this place, I would like to inform that on opening my account with aliceblue, an official User ID and Password given to me but to my shock, it is not working and I think that user ID and password of mine is being used by the person trading for aliceblue without my consent or approval. Expecting favourable reply from aliceblue.

Sir, Sub : Cheating of Investment amount, criminal breach of trust by Mr. Karthik ( Team manager) & Nishok ( Franchisee) of Alice blue commodities Ltd at T Nagar office. I have the honor to state the following few lines for your kind perusal and initiate suitable criminal action against the sub Mr. Karthik Team Manager of Alice blue commodities approached me for investment in Equity/Commodity Trading, due to Livelihood I have invested Rs 50000/- in Alice blue company on 15 May 14 by cheque at his office in T Nagar for investment in shares, To my surprise without my order and knowledge, He instructed the dealer/Franchise to trade in my trading account. As I was out of station for brief period, I have received SMS regarding intraday and loss on that trade, Immediately called Karthik Team Manager and complained about the loss and don’t misuse of my account, More over I communicated through SMS several times to Mr Kartik He assured to close my account and credit my Investment money Rs 50000- immediately on 18th Aug 2014 resulted in vein and futile. On 20 Aug 14 complained to Hemnath RM of alice blue for non credit of my account by Karthik team manager. He confirmed that, my mapped in franchisee Mr. Nishok has traded on his own and cheated my hard earned money. In view of captioned facts and circumstances stated above, I request your office kindly register a case to recover my hard earned money Rs 50000 at the earliest and initiate suitable criminal action against them for ulterior motive to cheat the investor hard earned money and criminal breach of trust by Mr Kartik Mb ; [protected] and Nishok Mb : [protected] Yours truly, ( R. Suresh Babu) Copy To : 1. NSE, Chennai. 2. SEBI Chennai 3. Commissioner of Police, Chennai

bad customer service:
I have invested nearly one lakh in aliceblue commodities, without getting permission from me thy traded in my account. now i have only 300 in my account. pls dont join. be aware..

dear sir,
I have closed my franchise and company is not refunding my security deposit and not picking the phone.so i want to tell all the people don,t invest in the company because all tamil company are fraud,and i will see these people in court.director--vijaykumar is cheating everyone and his company secreretry muthuswamy is also a big cheater.be careful they r going to close the company anytime.

Hi,

This is aswin . I HAVE 7500 INR IN MY MCX TRADING ACCOUNT. FOR LAST 2 MONTHS I SEND A REQUEST TO PAYOUT MY FUND. BUT STILL THERE IS NO RESPONSE AND PAYOUT THE FUND ALSO. I THINK ITS A FRAUD COMMODITY BROKER. SO DONT OPEN ANY ACCOUNT WITH ALICE BLUE INDIA COMMODITY PVT LTD

Respected sir,
I am having franchisee of alice blue commodities pvt ltd, chennai.For taking franchisee i have deposited 2 lakh rupees .An agreement made between company and me for 12 month lock in period, now 18 months over .I closed my franchisee two moth before and they settle only 50000 rupees remaining fund they are taking time.From last two months daily basis i am calling to company they are telling next week they are going to settle, every time next week.but their next week is not comming and two months over.I have taken loan from other people for taking franchisee and now i am paying interest for that money, but they are not settling the fund.
kindly do something sir for refunding my money.

regards,
praveen singh
gyanpur, sant ravidass nagar, bhadohi.
uttarpradesh

sir,
i have taken franchisee of alice blue commodities pvt ltd, chennai.member of multi commodity exchange member id (35290).as per agreement they have to refund my security deposit while closing.three months before i close my franchisee but they are not refunding my fund.I talk to the director of company mr v.vijaykumar, he told to me what you want to do you can do but we can, t give your fund back.my deposit amount is 20000.
help me sir for getting my fund.

regards,
sandeep singh
staff quarter dumanhill, chirimiri,
dist-korea, chattisgarh.