Motilal Oswal Financial Services Complaints & Reviews

Motilal Oswal financial services
Sales executive Manish Kumar
[protected]
These guys commit anything just to close sales at 1 am.
Trying to withdraw my fund from past 1 week but unable to do so saying due to IFSC code fund cannot be transferred.
The account was opened with same documents with same IFSC code and amount transfer to motilal account successfully. Now at the time of withdrawal they need fresh documentation that is being done from 3 days still no update.
Ignoring calls messages
Saying sir doing we are doing little more time it will be done and 3 days past like this only.
One of worst brokers, not trustworthy, unprofessional in the industry.
Their greivence also takes 7 days to respond.

Client Number - VRD 1263, we have sold some stocks on 13-jul-2021 thru above mentioned demat account and received the amount in MOSL Demat account, while doing the funds transfer to bank account it is not getting transferred to bank account.
contacted customer care for the past 4-5 days and response is utterly poor.

My Number is[protected].

Stocks are regularly bought in my account without any approval
They are running some fraud and nobody is replying
They are silent about it
Playing with my money

Dear sir, i would like to draw your attention regarding the constant fraud by motilal oswal financial services, with many small investors like us. Previously i logged a complaint against this broker on august 19, registration details sebie/as19/0000034/1 regarding fraud transaction in my account. The issue is found to be genuine by the nse guwahati, but because of the error that the transaction was taken on bse and i wrongfully send it to nse, matter was not solved. Due to limitations of time i dont raise the issue again, and find quite good to stay away from this fraud and worst company. So i request them to close my account. For which i sent the hardcopy of the same on september 2019, but even after a long period they didnt replied. I then again send the account closure from on december 06 2019, but the company showed negative balance, without any transaction. They deducted the charges on complaint but not closing my account. Demanding money for closure, which is totally illegal and not as per sebi rules. I will request the ministry of commerce, government of india, to take strict action against these companies. It will be better if government banned these companies.

Dear sir, i would like to draw your attention regarding the constant fraud by motilal oswal financial services, with many small investors like us. Previously i logged a complaint against this broker on august 19, registration details sebie/as19/0000034/1 regarding fraud transaction in my account. The issue is found to be genuine by the nse guwahati, but because of the error that the transaction was taken on bse and i wrongfully send it to nse, matter was not solved. Due to limitations of time i dont raise the issue again, and find quite good to stay away from this fraud and worst company. So i request them to close my account. For which i sent the hardcopy of the same on september 2019, but even after a long period they didnt replied. I then again send the account closure from on december 06 2019, but the company showed negative balance, without any transaction. They deducted the charges on complaint but not closing my account. Demanding money for closure, which is totally illegal and not as per sebi rules. Whereas on account opening they charged 4000 thousand and told me to refund 2000 as gold balance, which is not been credited. Now they ask for more money. Motilal oswal financial services is always doing fraud with small investors like us. I would request everyone to stay away from the company.

I've been following up with motilal oswal for two months now on a simple email/ phone number update. The staff is so unsure about the processes that it was nothing short of a horrowing experience.
They have no knowledge nor do they update the customer with paperwork requirements. I was asked to courier a set of documents of which even receipt was not acknowledged by them. Post the courier, the account was still not activated and mr. Amit ghadke /fort branch (20th sept) asked me to print, frank, and courier yet another set of documents. A few hours ago (Sept 20th) mr. Sandesh from the same branch informed me that everything is fine and account will be active in 30 mins.
It is simply beyond comprehension that the staff is so unknowledgeable on their own company processes. I recommend no one use their rubbish service which is designed only to bring inconvenience to customers.