[Resolved]  Bajaj Capital — Demat brokerage fraud - just trade securities ltd.

Address:	600002
Website:	www.justtrade.in

I am having a demat account since 2009 with just trade securities ltd of bajaj capital ltd and my demat id is j25783.

As per their initial plan, the demat brokerage agreed to was 0.2% for delivery and 0.02% for margin trading.

I have recently noticed a discrepancy in the bill, and that excessive brokerage is being charged by bajaj capital, contradicting the above brokerage plan. I have asked for an explanation to just trade customer care, vide my e-mail dt.08.06.2017 referring their bill, for which, there was no immediate reply.
However, vide their e-mail dt.14.06.2017, the customer care of bajaj capital has replied as below:

"we would also like to inform you that in your account brokerage for intra-day is 0.02%. But if you are trading in stocks which are below the value of rs 100 then a flat brokerage of 0.02 paise will be charged on the total quantity.
In your account brokerage charged on 05th june'2017 is rs.400 (Approx). We request you to kindly refer the contract notes for complete taxes and brokerage details."

It is to be noted that during my enrollment, there is no such condition was mentioned that a flat brokerage of 0.02 paise will be charged on the total quantity, for stocks below the value of rs.100/-.

The imposition of this condition in the brokerage is unwarranted and unacceptable, as the same will only serve the interest of the demat provider and not the account holder. Just trade securities should have obtained my consent before implementing or imposing any amendment or changes in their brokerage plan.

Let me explain, how bajaj capital, is looting the money of the unsuspecting traders by imposing the new condition - flat brokerage of 0.02 paise.
As per previous plan, if i buy 10000 shares with market value of rs.15.00, (And sell it for the same value) then the demat brokerage will be rs.60/-
[20000 x rs.15.00 = rs.300000 x 0.02%] – bajaj capital charge for both buy & sell at the same rate.

As per the present plan, bc is charging "a flat brokerage of 0.02 paise on the total quantity for shares below rs.100. If i buy 10000 shares with market value of rs.15.00, (And sell it for the same value) the demat brokerage = 20000 x rs.0.02 = rs.400/-

See, the difference/excessive amount charged by bc by way of the new brokerage pattern is rs.360/- it is a wonder, how sebi is allowing the demat providers to charge or loot their demat holders as per their wish & whim.
I have again contacted customer care of bajaj capital seeking to reverse their plan that prevailed at the time of enrolment. Instead of replying to my demand, they once again repeated their reply as

"we would also like to inform you that in your account brokerage for intra-day is 0.02%. But if you are trading in stocks which are below the value of rs 100 then a flat brokerage of 0.02 paise will be charged on the total quantity.


This complaint is just a tip of the iceberg, and i am going to write a complaint to sebi., and all other online complaint forums about the unethical business conduct of bajaj capital and their day-light robberies, if the company is not returning back to ethical business conduct.

Regards
J gopinath