Motilal Oswal Complaints & Reviews

Hi,

I was having one mutual fund with motilal oswal (Most focused multicap 35 fund regular growth), which was registered with order id: 211513 and mandate id : bse[protected] on 9th march, 2017.

The mutual fund was allotted to me bearing folio number [protected]. However, on 2nd installment date, it was told to me by you that isip can't be continued due to some technical issues or non-authorization from the exchange. Following which i had withdrawn the whole amount on 16/06/2017.

But to my surprise an amount of rs. 5000 had again been deducted on 8th october 2017 through same mandate (The bank statement has been attached herewith. See the transaction dated 9th october on the name of bse-isip/bse[protected]. I have canceled this mandate now for future safety. I have checked on mo investor app too but the app is not showing the amount i. E. No mutual funds units have been allotted to me so far.

Where are my rs. 5000 now? I want the refund of this amount deducted in an unauthorized way.

Since i am waiting for a reply from last 21 days. Now i am looking forward to a positive reply within 24-48 hours of this mail. Else i will be forced to lodge a complaint to amfi, bse, nse & sebi portal.

Hello,

I have transferred money from axis bank via mo trader app, the money got deducted from axis but it didn't reach mosl. The nodal officer from axis has already confirmed that the amount is claimed by mosl. An email was sent to me confirming the same by nodal officer which i forwarded to motilal customer service but still no one replies from motilal. Its almost 50 days

Yesterday i sold stocks of two companies, edelweiss and allahabad bank, i have mentioned the limit for selling at 260.30 and 69.30 respectively but at the end of the day transactions report shows that both stocks are sold at 254.37 and 67.24 rupees respectively.

Client code: eaope5674

Note: i am using motilal oswal android application for trading stocks.

It's a fraud company. They open account for free and then start putting hell lot of charges. I have been trying to close account but that also they are not letting me and just keep on piling charges without any reason. This company is a total fraud company and bse/nse should not allow them to do any business. I have got tired after chasing them, they think there client doesn't have any work other than closing an account.

Hi my name is sanjay poojary, client code eaope4555. I have transfered fund i'd 9150 from my bank account to commodity account on 8th but still it neither credited to my bank account nor commodity account. I want the compensation of 1lac from you as the service is poor and not reverting within tat.

Today also i have emailed them however the reply i will get within 6 he.. It's almost 6 he over and still no reply.

I called also today and the associate told that i will get my fund credited today to my bank account but still it is not credited.

I can't trade not i can use that fund.
I want compensation for this.

E*pe4047-i opened an account online and send the documents for processing. There is a form called poa, power of attorney, which i send them 3 times now. 1st time they said they did not get, second time they said signature mismatch, 3rd time no response. Its been 1 month since i am emailing them but without response.

The advisor at mosl never answers emails or calls.

My client id: eoape4524, i contacted the all number provided by them from 17 july to 03 aug 17 but no action taken, i call them around 15-20 times, all are not interseted to do work, rma never pick up call. Always said i manage a call for you. I want to buy some stocks but i am not able to transfer my fund due to this worst service. This is my big mistake to open an account with motilal.

Client code pxhomsj155
Pan agupj8267c
Jitha jaleel
[protected]@gmail.com
For the past 3 years my account is inactive am not to able to trade so am facing huge losses. I have contacted the franchisee maria stocks aluva and motilal oswal customer care for the activation of the account. Still it is inactive and am not getting any postive response from either side. Please activate my account immediately.
If am not getting a positive response i will register a complaint with sebi scores.

Sir since april 2017 i am contracting them to close my d mat a/c. Equity & commodity. I have send them documents 5 times, but till now a/c. Not closed. My client code eaop1187 with motilal oswal.. So many times i phone to mr. Avijit sir, & mail but no response. I have been harassment. My mobile no; [protected]. Mahesh maskara. Wait for your early action & reply.

I maintain a demat account in motilal oswal pvt ltd. My client code is [protected]. I contacted your customer service on 19.07.17 to update my kyc in my account. The replied to contact[protected] at sagar mishra
Executive - customer care
P: +[protected], 2330052
E: [protected]@narnolia.com
Mr sagar told me to send scan copy of modification form as well as pan card and kyc form. I sent all scanned document to him on 21.07.17. Again i contacted mr. Sagar regarding the issue on 25.07.17 but other person picked up the phone and replied that mr. Sagar has been transferred to kolkotta and he don't know the status of modification. Please resolve my issue immediately

Motilal oswal one of the worst service provider. For a change of address or updation they are delaying things. They refuse to serve if the claint is from a franchise office even their customer care nos are not working but their new account opening related phone numbers are working! When i applied for addresss updation with a supporting document as per their fran. Office easy investments madurai
They reject my request refuse to give any reason. After a lot of effort they demand more documents as per their wish. The bombay office people says they won, t attend any complaint of a claint from a franchise office. I am a claint from their madurai office my no is eim045

Hello i m harsh badama
My client code is RET1221
I joined on 15 feb 2017 by depositing 4lac rs my RM was good shivam...he helped me alot..
I got my broker rajesh thn he left approx a month ago...
As soon as he left i got the wrong broker His name is manoj...
His team leader is jigar
They r from elphinstone branch
I bought aura pharma futures may and roll over as june on 21 may 2017
Then next day on 22nd i called manoj
i saod "margin kitna dena hai "
he replied as "sir abhi 42500 hai "
and i replied "kab dena hai"
He said requirement dikhega i ll call u ...
Next day i got msg as sold

And next day i called manoj is nt talking nor calling .
Jigar ka rude behaviour
Like credit ho jayega yeh ho jayeva...
Par todae 25may kuch nai hua...
And motilal is saeing aapko margin dena tha..kyu nai dia..
And i said.. Sir manoj ne naa bola..so i said. Cheque is ready...jab chaoye bol dena..
And they cnt sell the share mere account jab tak zero na ho...as mera june futures hai..so i ll case on motilal i want my loss money back..as buying price 591 and selling price 549 and 1400 shares as 2 lot...i want my money back..58800 ...i dmt want any shares...
I dont want to keep amy relation with motilal oswal..
They are worst..
The advisors are mad and mentally gone person...
Many times i have given advise to manoj to buy and sell ...
Worst motilal oswal..never open account in motilal...

First you are nt allowed to sell the shares...you have to call the client ..

You can also hear the recordings...wat i said and everything...

I just want my money back..and want to exit from from motilal oswal..

Harsh badama [protected]
[protected]@gmail.com

I spoke to neha today who supposedly was my rm for this account. I had spoken to her couple of weeks back and i did make it clear that the only reason i've opened this account is to hedge the risk of my equities investment, so basically i wanted to invest 10k -15k p. M towards purchase of gold (Either bond/etf). She promised to get back to me in couple of days with all the details about investing in gold (I am not sure if you guys preserve recording of such conversation however in case you do, please pull out the recording and listen it yourself)

She never called me back, no emails, no calls what so ever and today when i wanted to buy soverign gold bond, i was told that i do not have a poa to be able to make this purchase. I spoke to her again today and instead of apologizing, she appaered to be getting into an argument with me. Its been almost 3 weeks now, i have this account open and nobody tells me that there's a poa pending (In case if it was available earlier and somehow was disabled/ lost / regulation changed, then how do you guys expect your customers to know about it without someone telling them?).

I highly disappointed with the customer service and would no longer be interested in doing business. Btw, at the end of conversation, i was told that then money i have in the demat account will be moved to my savings account and i will be sent a account closure letter. I am not sure she has even taken care of this request or not. Can you please check this for me?

Regards
A lost customer

The brokerage rate of my demat account is being changed by the broker without any prior information to me...when i called the advisor, he told that the brokerage is being changed to the earlier rate...but on checking the contract note, i found that the brokerage rate is not still changed...these people are changing the rate as per their own will. I want the refund of the excess brokerage charged from my account.

I have been constantly calling my Direct contact agent in Motilal Securities in Mumbai (Malad West). I have submitted all required documents in March itself but there is no response from them. They are not even responding properly nor picking up calls. I want to open my Demat account elsewhere but they are not cooperating at all with me an unnecessarily troubling.

I have been constantly calling Customer Care / Franchisee again Customer Care with out any hearing. Problem is no one ready to listen or realise the Problem at Motilal. Everyone is very busy with systems & processes.

I want to Transfer my account to Local Branch from Delhi and I am writing for the same since February 2017.

However, Till date neither franchisee nor the Customer Care has been able to guide me.

My Client ID is SANB007

I opened account with MOSL 13th, Mar 2017.My Client id is PZ1697. At the time of account they informed me that no money will be kept locked total amount I can withdraw at any time so I added 1 lac rupees from my loan account and on 13th, Mar 2017 I want to withdraw money for my personal requirement but they locked 50k as margin amount and remaining 50 thousand not transferred to my account till today . When I contact customer care and representative of MOSL they informed me that management has decided new policy regarding this that remaining amount will be refunded after ONE MONTH...!!!
Plz do needful in this matter . otherwise i will go to Consumer Grievance Redressal Forum.
My Contact Number is [protected]

Dear sir

1. I have dp id [protected] in motilal securities which has 100 shares o[censored]co bank. The account is not operated by me since 2001/2002 due to dadagiri of mr kapil the boss of sainanth investment, 1-onkar road, behind gpo, dehradun 248001, ph no[protected] and its email id is [protected]@nde. Vsnl.net.in.

2. Since opening of the account, i was threatened by mr kapil that he will pull me to court for not paying the amc. To avoid legal hassles i had forwarded a cheque (Amount not known since the clearance was done long back through icici bank). Inspite of paying the entire amc, my uco bank shares were neither credited to my icicidirect account nor was it sold and credited to my bank account.

3.in nov 2016, i approached sainath investement to transfer the 100 x uco share to another motilal oswal dp id: [protected], clientcode :pz3640, but was shocked to know that the amc of the account is still active and the amount has crossed more than the value o[censored]co shares.

4. This is unethical and complete dadagiri of mr kapil. Please help and request to transfer the uco shares from dp id - [protected] to dp id: [protected]

Your sicerely
Sunder bisht

Mosl Mr Hariprasad Has sunk My 20000 INR to 9000 INR and When I asked for 9000 to my bank account he has not transferred to my account insted he transferred to some other account and now my full 20000INR is stolen by Hariprasad and Mr Dinoj of Motilal Oswal and Now they are not receiving calls to answer. Now I want my remaining 9000 to be transferred to my Axis bank but nobody responding from Motilal side and I dont have anybody to contact. They llok like fraud. Even Senior manager Dinoj is not responding to my query

Dear sir,

My client code is bug1210, i have short tvselect 374+61 stock and that stock not showing in my demat account then will try to contact every day since 09-dec-2016 on this[protected] and [protected] no one receives my call then i called [protected] and [protected] for square off my tvselect he said i can't square off my tvselect then as on 15-dec-2016 rms automatic square off my 374 stock total price 88506.11 per stock rate around 236.64 that is an incorrect price that dates the stock price around 210 to 218 then so how can square off my stock around 236.64.

Please let me know about above details.

Regards,
Shivam gupta

Sir,
my client id is EAOP7843
can i know how are the brokerages are calculated as it's creating TOO MUCH LOSS.i am new on motilal trading. i couldn't understand.for e.g first in hindustan petroleum why is my brokerage amount 0.6 Rs just on amount of 454.75Rs share and that too 1 qty, since in intraday buying motilal charges only 0.05 Rs per 100 Rs buying/selling...similarly again when i bought 1 share of RS 266 of sbi it charged 6.66 Rs just on brokerage, then again for the same quantity of 1 share of sbi when bought u just charged 0.26????? similarly others .please clarify?WHAT ARE YOU GUYS DOING?????????HOW DO YOU EVER EXPECT A CLIENT TO MAKE PROFIT ON INTRADAY WHEN YOU ARE CHARGING 6.6 Rs on just 1 share of 250Rs approx, pls clarify.

They have poor customer support. Only thing they care is to add people to start this and then after adding it's over. They promise that they'll help us in all the sessions whatever is required at the time of joining and now it's been 3 days since I am calling them to enquirer about rms related issue and still they don't even care to support rather note down my ID and just hang the phone. My ID is E519136 if possible please contact my atleast now.

I have opened an account and i was charged brokerage which is against your own policies. (Brokerage free for the first month of opening the account). As such i have stopped operating my account on ethics. I wrote a letter to mosl in this regard earlier for which there is no response till now. My id no. Is e518751. There is an unauthorised entry (Debit) of rs.177/70 which no body has explained as to why?
Arathy

Their representative Mr.Waseem has been informed that the delivery stocks can be kept for long time and he never discussed about their RMS selling and unfortunately I invest the amount on their recommended share which has been sold at low prices by them.
After then I understand that mine was normal account where the margin stocks will square off in 8 days time which is was shocked.

Because of their targets i lost my half of the amount invested.
Also they promised to make my brokerage as 0.1% and 0.01% but they were charging more than 0.3% and 0.03%.
They informed first month offer is free bokerage and it will refund to my account. But no one is responding to us.

Ultimately from my experience not to trust Motilal Oswal, THEIR RECOMMENDATIONS, THEIR REPRESENTATIVES.

This was the complaint made by me to motilal oswal and still struggling to find a resolution can anyone guide me about how to find justice regarding the same.

Kind Attn

I want to terminate the services on immediate basis and get my losses back as there has been a misleading and fraudulent communication done to me by your team, which has caused me monetary losses.

My Client code is H21113 Name – Nirmal Shah Mobile number - [protected] and the dealer line which i call is[protected] and[protected]
My normal and maximum conversations are with Dharampal oberai, vivek, Shrikant and Yogesh on these numbers.

This is the fraudulent incident which has happened with yesterday and today.

My open positions were sold by Dharampal Oberai without even confirming with me and adding it to my knowledge.

I had received an RMs message yesterday on 31st august which i was not able to understand so i made a call to my dealer (dharampal) he had mentioned that he will be on leave and i had his cell phone number so i whtsapped him the sms he mentioned that there might be a shortfall and i will have to call on the board line number and talk to the dealer present as might be the right person to put light on it.

After been guided my Dharampal i immediately called on the board line number and spoke to shrikant that i had received an sms and dharmapal guided me to confirm it with you wether the message is true or the status has been modified.

( because i was aware there might be a downfall and i had made an neft of 30, 000 to cover the margin) Mr. Shrikant assured me that there is no rms and none of my open positions will be squared off which was also mentioned by Vivek in the Morning time.

And today morning Dharampal called me from the board line and said that there is an rms and he will have to check the details why is it there with fuzzily and team and he will get back to me immediately as i was confused why there would be still a shortfall.

Neither had he called me nor confirmed the selling of open positions or neither did he check with fuzail and called me back to make me aware about the current situation.

I when casually checked my positions it showed that the positions were squared off and that was a surprise to me that how such a fraud and carelessness can be done to me where i have suffered monetary losses.

I am totally frustrated and it has made me sick knowing how such people can be associated with a brand name of motilal oswal and operate such fraudulent services and carelessness while dealing with other people's money.

I hereby wish to obtain the information regarding why such kind of malpractices were done by these people to me and want my losses back which were cause by carelessness and immaturity by the team.

I hereby look forward to obtain a resolution and justification regarding this malpractices and fraudulent acts.

Thanks,
Nirmal Shah
[protected]

Dear sir i have a a/c with u in commodity havin in the name of geert pancharya a/c. no PSS532 so many times i ring u r bombay office but no responce .no body is intrested to pick up phone recorded massag teling wait u r valuabl costmer but u r 3 rd grade rubish staff r taking tea and doing gossip but dont care costmer. moti lal ji see all this .u r abig name in industris but thay staff not intrested to talk to costmer. thanks with regards. geeta pancharya pune

Very pathetic customer service.
I am calling on the numbers provided on website for support related queries:
[protected]

No customer care executive is picking up the phone. Recorded message is being played continuously for more than 10 minutes and phone gets disconnected automatically.

I want to update the e-mail id on the system and have to struggle with lot of issues.

I am not recommending anyone to go with motilal oswal.

Dear Motilal,

We are not got your services nicely after we are paying brokerage. not got any correct ans from franchise. directly said us call on IT department. so
resolve this issue permanently.

My self is yash sangani, my id code is ptk17766, firest today my account RMS without informing me, & this is not first time every one a month we
facing a same issue & other one today my RMS selling reporting are shoing on screen totally wrong. selling price not match any live stock market
price actually.

my jet airways sold as per your online login report 545.70 but this price is not match on your franchise report because @ 545 is not right price.
please resolve on urgent basis.

client code ; PTK17766
NAME ; YASH RASIK-LAL SANGANI

RESOLE ...ASAP...

[protected] / [protected]

Hi MOSL,

I am Neelam from Bangalore and this is a serious concern regarding the brokerage that has been charged on my demat Account no- E517333. At the time of opening the account it was clearly stated that, for Equity it will be charged 0.30 paise per 100 rs, for Options it will be 30 rs per transaction. But after raising a request to the MOSL Branch at bangalore it was decided that for Equities it will be 0.20 per 100 rs and 0.02 on intra day transactions and for Options it will be 15 rs per transaction. I have even received intimation over call that I will be charged only 15 rs on buy-sell transaction on Options Intra-day transactions. But recently I have viewed in the contract note that I was being charged for 100 rs + Taxes per transaction on options and 0.05 + taxes on Equity transaction.

I would urge you to look into the matter at the earliest and refund the amount the was charged over and above as decided a the time of opening the account and even which was decided thereafter (i.e 0.30 per 100 rs for equity and 30 rs per lot for options transaction and so on) else I would have to take this matter to SEBI for further action.

Waiting for your prompt and immediate response at the earliest.


Thanking you,

Regards,
Neelam

I do trading from my motilal account. On 15th march i had sell 260 shares of gppl to which motilal gave me an auction debit of 17K saying i have sell more than my Demat account. i have sold 260 qty which was all time reflected to my online account. Motilal is trying to justify saying i had 160 shares and 100 shares were credited to my account while buying for which i never got any credit bill. also if ths was the case why my online DP was not updated. they are now careless to revert back

pl. let me know how can retrieve my amount

Regards
Jyoti