Alice Blue India — Unfair and Unethical trading company

Address:	Chennai, Tamil Nadu, 600091
Website:	www.aliceblueindia.com

I opened an account with AliceBlue and was running a plan where I am supposed to pay Rs.5000 monthly which incurs zero brokerage for FAO segment. Last December after flood in Chennai I was unable to trade for few days and I called up the support team to extend my plan for few days. He advised me that the plan cannot be extended instead he offered me time to pay with 15th Dec where my account would run under the same plan due renewal on 3rd of January as every month. I accepted that and continued trading. I called the support team on 15th and informed to deduct 5000 from my account towards the plan. They did not deduct after calling them everyday advicing the same. On 27th, they made a huge debit and said that this plan is not available in that branch. But the same plan is still operational in other branches. When I enquired Mr.Selvakrishnan literally argued with me over phone and said that he will not return my funds back. I made a complaint on the same and sent an email to 10 guys which includes the CEO, Velachery branch, Chennai branch, Mr Narayanan from Velachery etc. Inspite of repeated calls and requests they have not replied or solved my issue. The are a fraudulent company who serve the customer for few months and take money with no prior information. Now they say that they have moved/merged their operations with Velachery and we have to contact them for any further complaints or requests. If we call them, they only say that they aren't aware of the policies and happenings at the T.Nagar branch and just skip that they would not be able to address them. I received no reply from the CEO as well. They welcome the client offering good plans and they never ever keep the word.