Anand Rathi Complaints & Reviews

I am Siddhesh Mali; this is regarding my A/c which i have opened on 25/10/2010 with "Anand Rathi
Share & Stock Brokers Ltd." I got a call from Anand Rathi in the month of Oct, 2010 which was regarding the new scheme; they introduced me to the scheme wherein i have to deposit 2,500 Rs. to start trading with Anand Rathi. Being interested in the scheme i requested them for detailed information regarding the same. On 16th Oct, 2010 executives from sales team *"Roshan"* and *"Sushil Dubey"* came to my place at Bhayandar. During this introduction to the scheme they conviniced me on the following points:
- No Annual Charges
- No A/c Maintenance charges
- 0.20 paise brokerage on each transaction
- TOTAL AMOUNT OF CREDITED MONEY CAN BE USED FOR TRADING
So i agreed to invest 15,001 Rs. instead of 2,500 Rs.
Even after 15 - 20 days of cheque issued date i did not received any call from Anand Rathi.
After this i had a call with them where i came to know that, 15,001 Rs. will be the *ADVANCE BROKERAGE* which i can’t use for trading purpose and i have to invest more money as *Margin Amount*. However, i was ready for this also. But, till date i have NO RESPONSE FROM ANAND RATHI. I WAS READY WITH MY CHEQUE OF "MARGIN AMOUNT". BEING REPUTED STOCK BROKERS IN MARKET THIS IS A SHAME FOR "ANAND RATHI" THAT THEY DO NOT CARE FOR THEIR CUSTOMERS AT ALL.
Hence, I would like to QUIT my A/c.
ANY HELP/SUGGETION ON THE SAME WOULD BE APPRICIATED.

Dear Manager,


9119-912, Ansal Bhavan, K G Marg
Connaught Place, New Delhi, Delhi 110001

I was listen good about Anand Rathi. But when I connected with your company - it cheated to me. You have fraud marketing person & waste managers.

There is a Market Person named Mr. Pankaj Kumar of Nehru place branch. He opened my a/c. I give him Margin money cheque of Rs.25000/- Cheque no.SBI "152007" in the favour of "Anand Rathi Share and Stock Brokers Ltd.". He converted my fund in Advance brokerage. Now, He is not contacting me and not picking my phone.

There is no response from Mr. Monander , Mr. Rajiv of the C.P., Delhi Office.

Kindly, release my fund else we will take some legal action.

Marketing Person : Mr. Pankaj Kumar

Cell : [protected], [protected]

Dear Sir,


Ref. : My Client reference No. of M/s. Anand Rathi : GBN9C007 a/c. at Mysore

Based on the persuasion by Mr. Nagendra, Senior Manager, M/s. Anand Rathi Share & Stock Brokers Ltd., Mysore Branch, on 3rd Nov. 2009, out of 600 shares, I sold 100 shares of Canara Bank @ Rs. 331/14 and gave Mr. Nagendra a sum of Rs. 33,114/-, through M/s. Anand Rathi, with a strict instruction to invest ONLY in good healthy shares.

Mr. Nagendra breached my trust and went on investing erratically my funds as per his whims and fancies and now I am left with 50 shares worth Rs. 11,180/- of some unknown company.

By his callous act and attitude, he brought down the amount of Rs. 33,145/- to
Rs. 11,180/- in a very short time (from Nov. 2009 to June 2010)

Is it possible to have some sort of regulations on such Managers who are suppose to protect the investors funds, but indulge in these sort of
activities ?


K. CHANDRAHAS.

Dear Madam/Sir,

i have heard a lot about your comapany but whn i tried to be a part of your company I realised how good are you..Its a ridiculous experience with you and now i want it to be closed.

i was contacted in the month of may and that point of time they used to call me regularly.First whn the documents were submitted your salesperson stop receiving the call,and thn now your ASM who has first contacted me has put his mobile in switched of.
and till date after opening my account i couldnt even able to perate it..no one suggest me in any purchase its just ridiculous......your option of taking 750/-which include brokerage charge for first 3 months.it is clearly seen that you people just take that money and could not allow people to purchase and take whole money in our pocket...a lier company

the name of your ASM is Md arif......minto park branch kolkata

i want to close my account and want my money back...you are all fraud.

plz solve this problem.......

a/c no [protected]

Even after this mail to their grievience handling team theydidnt solve this problem,just gave me a ref no. GK09S673.

they are totally fraud i just want my money back..plz help me out

MY contact no.[protected]

Dear Sir,
I have applied for the online account with Anandrathi.

I was earlier using Anandrathi’s offline account,but was not satisfied with the service at all.

Hence, I decided to shift to the online mode of operation.

I have made a cheque payment of RS.5000/- through your employee who came to my place to collect the same and do the documentation for the same.

I don’t remember the person’s name.

The amount has already been debited from my bank account.

I would like to tell you that I have been duped by your employee as he didn’t tell me about the Rs.2500/- brokerage scheme.

I asked him that is there any scheme for less than 5000 he denied.

I learnt from your Goregaon H.O. today that there is a Rs.2500/- scheme as well.

Hence I request you to kindly issue me the cheque of Rs.5000/- back which I have payed you’ll, as I don’t wish to convert into online account.

I hope you will look into the matter very seriously and issue my money back.

Thanks & Regards,

Samit Gandhi.

hi,
My Name is Balkishan and i have opened my account with Anand Rathi Sub-Broker and at the time of account opening they telling me that we are opening your Account free of cost. but after 2 months they have deducted 581Rs.from my account and will deduct 300 rs. yearly basis. and i have complaint 2 times via mail to them but there is not any response from their side.
please do the needful i am totally irretated from them.

Balkishan
[protected]

Dear Sir,

I am Mr. Narayan from Moodbidri , Karnataka . I have taken life insurance policy bearing policy no. [protected] of Ms. Bajaj Allianz Life insurance companies Capital gain plan through your branch at Paradigm Palza, A.B.Shetty Circle , Mangalore on My wifes name . Mrs. suguna . initially I have paid the premium on same date . They have given the receipt for the first premium from your company and of bajaj allianz.

But later 2 yearly premiums which I paid to your company they have given the receipt for that but till date I have not received the premium receipts from Bajaj Allianz for he year 2008 & 2009.

Regarding this while I contacted to Bajaj Allianz they said that the premium amount is not received by them. I have made payment to your company by cash of Rs.15000/- each on their due dates . Receipt which I received for this amount I have enclosed for your kind reference .

.

Kindly take a suitable action in this regard.




Kindly do the needful.




Thanking You,




Narayan Moodbidri.

Mob: [protected]

Ph:[protected]

e-mail id :[protected]@yahoo.com





Encl: Ananrathi Premium receipts ., Bond copy . Bajaj Premium Statement .

I have a demat A/C with Anand Rathi Jajpur Branch, Clint ID- JAJA 300. I had given a check of RS 40,000, which was cleared from my ICICI bank on 4th Jan 2010.I had done few tele trades after that by calling to the number provided to me. But i never got any transaction statement to reflect the trades, so after 2 months when i started querying about it, initially i did not get any response then after a long on 19/04/2010 they deposited the money to my demat account and said -WRONG PUNCH IN JAJB200 INSTEAD OF JAJA300 CHQ.NO.14198 DATED 02.01.2010.

But it was not a wrong punch, it was a fraud done by JAJPUR branch of Anand Rathi, Had it been a wrong punch, it would have been cought when i placed trade request,I had chat supporting with Jajpur branch manager to show tradeings were done for me, even on phone call the JAJPUR manager had accepted it to his Kolkota branch manager, i was on conference.
Still i have not seen any action taken by Anand Rathi for it, And i have written several follow up mail, & calls to it.

Still no response.

महोदय


बिषय :-मेरे डीमैट अकाउंट में अनाबस्यक चार्ज जोड़े जाने बाबत

निबेदन है की मेरा डीमैट अकाउंट आनंद राठी के यहाँ सी डी एस एल में है जिसका नम्बर [protected] है
मेरे द्वारा दिनांक 21 फरबरी 2008 को आनंद राठी कि गवालिअर ब्रांच में अपने उक्त अकाउंट के बैलेंस के बारे में पता किया तो
मुझे बताया गया की आपकी ओर 680 /- रुपये निकल रहे है जो मेरे द्वारा जमा कर दिए गए थे तथा मुझसे कहा गया था की अब आपका कोई
बकाया आनंद राठी की तरफ नहीं है
मेरे द्वारा जब 23 मार्च 2010 को इनकी ग्वालियर शाखा से अपने अकाउंट का printout निकलवाया तो उसमे मेरे द्वारा जमा की गयी उक्त 680 /-
रुपये की राशी को मेरे अकाउंट में डेबिट कर दिया गया साथ ही 19 जून २००7को जो 674 /-रूपये की राशी माफ़ की गयी थी उसे 17 सितम्बर 2008
को पुनः मेरे अकाउंट में मेरे नाम ड़ाल दिया गया इतना ही नहीं 17 सितम्बर 2008 को ही मेरे अकाउंट में बर्ष 2007 एवं 2008 का बार्षिक चार्ज भी 671 /- रुपये जोड़ दिया गया इस जब की मुझसे 21 फरबरी 2008 को इनकी ग्वालियर ब्रांच में यह कहा गया था की अब आपकी ओर कोई बकाया नहीं है
इस प्रकार मेरे अकाउंट में 674.60+671.91=1346.51/- रुपये की राशी अनाबस्यक रूप से जोड़ी गयी है जो की व्यापार के सिद्धांतो के
अनुकूल नहीं है इसी प्रकार जब मेरे द्वारा जब इनके यहाँ लगभग 10 बर्ष पूर्व डीमैट अकाउंट खोला गया था तब इनके द्वारा बार्षिक चार्ज ना लेने बाबत कहा गया था
इस सम्बन्ध में मेरा अकाउंट ओपनिंग फार्म देखा जा सकता है लेकिन इनके द्वारा मनमाने तोर पर बार्षिक चार्ज लिया जाने लगा बो भी में देने को तैयार रही लेकिन इनके द्वारा निल बैलेंस बताये जाने के बाबजूद 1346 .51 /-रुपये की राशी को अनाबस्यक रूप से मेरे खाते में जोड़ा गया दिनांक 21 फरबरी 2008 को भी जो राशी 680 /- मैंने जमा की थी बह भी 23 मार्च 2010 तक मेरे अकाउंट में जमा नहीं थी
मेरे द्वारा दिनांक 22 अप्रैल 2010 को instruction book /cheque book के लिए भी आबेदन दिया बह भी मुझे आज तक नहीं भेजी गयी
कृपया मामले को देखे तथा मेरे अकाउंट में अनाबस्यक रूप से जोड़ी गयी राशी 1346 .71 /-रुपये को हटाने का आदेश देवे
धन्यवाद्
संगीता गुप्ता
[protected]@gmail.com

I have a Demat account with Anandrathi Securities website www.rathionline.com recently i sold my shares and submitted a request for payout on 30th March i was informed that i can collect my cheque from My branch with 1-2 days. I contacted the branch but they said they have not received my cheque and they might get it within 1-2 days nothing happened till 6th April i called customer care again they informed that there was some problem with Bank that's the whole thing is delayed and i can collect my cheque from the branch on 7th in evening. i called branch but still nothing very rude answer that the person who looks after the payout is not at the seat call back after some time. I called up for 4-5 times but nothing happened. The most pathetic service. I NEED THE MONEY FOR SOME THING VERY URGENT but seems like ANANDRAHTI is not intrested in retaining the customers. ONCE AGAIN I WOULD SAY THE MOST PATHETIC CUSTOMER SERVICE. They don't have any co-ordination between themselves. Branch cannot tell anything about the account and customer care keep on refer the customers to the Branch.

To whomsover it may concern

This is to bring to your notice that we as a corporate have tied up with Franchisee of Blaze Flash in Noida named Bhagawati Enterprises.This is to inform you that this franchisee has agreed on terms and conditions for pickup and delivery as agreed thereon with him. That the named has been not rendering proper services in delivery as well as pick up of packets . Further to point out that we are also...

Dear Sir,

I have applied in the IPO of JSW Energy through the online portal of Anand Rathi having the following details:

Client ID: JPKTM117
Client Name: Manish Kumar Mittal
DPID: [protected]
Exchange Ref No: [protected]
Application No: 96170019
Txn ID: 4764
Application Money: Rs. 99000/-

As per the basis of allotment for this IPO, I should have received 1020 shares. However, no shares have been credited in my demat a/c till date. The application money of Rs.99000/- is also still lying with Anand Rathi Securities till date. Please note the following:
(a) In this regard, I have registered a written complaint to Anand Rathi's customer care on 04/01/2010, however, I have not received any written reply to my complaint so far even after multiple telephonic communications in which their representatives committed to send e-mail replies.
(b) After multiple calls, Rupali from their customer care department has confirmed me on 08/01/2010 that I will get 900 shares which will be credited in my account by 12/01/2010 and the remaining money will be refunded. She also committed to send the same reply by e-mail. However, neither any e-mail nor any shares have been received till this point.
(c) On 13/01/2010, Rupali again called up to state that it will not be possible to deliver the shares. They can refund the application money if required. On the same day, Kiran from their IPO department has told me that the problem was from Anand Rathi's end, but they will not be able to deliver the shares even though they have previously committed to deliver the shares. I have asked him to send an e-mail to this effect to which he agreed, but the e-mail never came.
(d) I have also sent a complaint to the registrar (Karvy), their reply was that they were not able to trace the application number.

Please help me in the following:
(a) Why was my IPO application not bidded by Anand Rathi? All this while, my money has been and is still lying with them, however, Anand Rathi had not even followed the basic courtesy of informing it to me.
(b) As per the basis of allocation, I should have received 1020 shares. When and how are they going to credit the shares to my demat a/c and how will they refund the rest of the money along with interest till date.

Dear sir,

My name satyanarayana konijeti from hyderabad i am worked as a Assistant Relationship Manager at Anandrathi Securities from2007 but resign on 2008 march. I am submitted formalities june 5th at hyderabad regional office . But till now not response . Please release the my pf amount early as possible.

I opened a commodities trading account with Anand Rathi with a deposit of Rs.1, 00, 000

In the beginning it all went fine and I traded and made profits to the tune of Rs.35000 in three weeks, soon after, the Rathi staff started transacting on their own in my account and most of the time without intimating me. Mostly I was intimated after the transactions were complete & either profits or losses were already booked in my account.

Some days later, my positions were squared off in some transactions without intimation to me, resulting in losses of over Rs.70000. I was not told about the square off and the losses until the next day after their staff took an additional cheque of Rs.50000 saying that I was trading on short margin. After giving the cheque, I was told about the loss in my account and very furious, I told them not to put my cheque in the account until this issue is resolved.

They held on with the cheque for over 15 days without resolving the issue and I came to know about some more transactions in my account without my knowledge through auto generated reports in my e mail.

Immediately, I sent a mail to the concerned staff and told then about the transactions and that I would like to close the account and have my cheque back. I also told them that I shall not be held responsible for any further losses due to these un reported transactions.

They instead put my cheque in the account and obviously it was returned. I also came to know later that my account now stands at Rs.37000 in debit due to losses in the transactions that I was not aware of.

I have been getting regular calls from Anand Rathi staff since last week to pay the deficit and I told them no way, until I take up this issue with the chairman as well as SEBI & consumer forum.

Now they are telling me that they will take a legal action on the cheque bounce.

Well here I would like to ask, is there some one to put a tab on all this. Brockers make transactions in the account to make commissions. Some times they make profits and most of the times losses are incurred and these people are playing with consumer funds. Web is full of similar complaints & no one seems to be bothered.

Currently I have lost my 1, 00, 000 plus the profits of Rs.35000 in addition to the deficit balance of Rs.37000, taking the total loss to over 1, 70, 000 in just 6 to 8 weeks.

Will some one look into the matter and help me fix this issue.

regards

Neeraj

i monu kumar i had applied for my pf withdrawl from Anand Rathi insurance brokers pvt ltd Dec 08 but i hv not received my pf amount til date so pls issued my pf amount as soon as possible


thanks Regards
monu kumar
house num 2494 mouli complex chandigarh
pin 160102
mobile [protected]

Since i had issue log in to online trading account. i requested for a password online which did not reach my mailbox. hence called Anand rathi Customer services who send the password once again. however after two day i called again to Anand Rathi Customer services & they say since i am using Yahoo mailbox i would not receive password. This is first bad experience, then i asked whats the proceduce to get the password i was told change your email address & to do that i need to fill up LOA (Letter of Authority). I updated the same & send it through courier by Last week of April'09. I also sent an email to get confirmation but no reply either via email or thru post. This was second worst experience with Anand rathi. I wrote to [protected]@rathi.com on 23/05/09 but no response yet. Today when i call up customer services to tell them about the delay in getting password infact they transfer my call from one department to other & finally one lady who attended the call says i need to check POD & callback speaking to courier company as to where did they delivery the envelop since they haven't received it even without asking me my name or checking my account or any information.I think no one shuold ever deal with these kind of companies who are not bothered or give one of the worst experience for a simple thing like a password to login to my own account.

Hi,

This is Vinutha A P from Delhi.

My client ID GBN50P034 with Anand Rathi Securities.

I would like to share my bitter experience with Anand Rathi Securities.

On 04/03/2009 I put a AMO in JP associates. It was a sell order for 10000 shares in NSE segment under MIS category ( Trading) at the rate Rs. 68.50. Next morning when the market opened, this particular scrip opened at Rs.67 and within seconds it reached a value of Rs.69 and again reached a level of Rs.66.50 and was trading even below that. Later on the scrip value still came down to even Rs.62.70. My question is that when the value quoted by me was Rs.68.50 and it had reached Rs.69 crossing the value quoted by me and again it came below crossing the level of Rs.68.50 why was it that my order was not executed? I contacted customercare service of Anand rathi who gave me 2 reasons for this order not getting executed. fIrst is that there were no buyer at that moment since I was trying a sell order. If there were no buyers at Rs.68.50 how was that the scrip reached Rs.69 after that? Then they gave me one more reason saying that MAY BE my order had not reached the exchange in time from Anand Rathi. Now let me know whether it is my fault if my order was not sent in time by them? Because of this I lost a good chance of earning a handsome profit.

This is not the only problem with them. They reduce the margin as they wish. Funds transferred by me from the bank account doesnt get updated unless you contact them for getting it updated.

The very purpose of trading gets defeated by such mistakes or delay..We get such chances once in a while to earn profit in intraday trading. When we are paying so much commission is it not their duty to provide a reliable service? And the customercare executives dont have polite attitude.

I hope I will get justice at least here by you.

Dear Sir/ Madam,

PF Form Submmited In Anand Rathi Securites Ltd Mumbai Head Office. But Not recieved my PF Money so pls help me...! My PF No. MH/DAN/44711/1030

My Mob no. [protected]

Sir,
This is to state that i was working with anand rathi insurance brokers ltd. and date of leaving is 31st aug. 2007.
I had submitted the form for refund and was duly received by HR dated 9th april 2008 but still not received the amount.

My P F No. is :MH/BAN/47081/283

Kindly help me to relive the amount as soon as possible.
Regards,
Paramjeet Singh.
mobile: [protected].

sir/madam
i invest one thousand in SIP of SBI-Tax saver for saving income tax.
i have invested this ammount in september maonth.she do not gave me any any document regarding this. in the month of oct., i again call her, she says to me that, wait for document. i again says to her that my SIP is not running continuously smoothly because no amount was deducted for oct month.till present time no confirmation is obtained