Motilal Oswal Financial Services Ltd Complaints & Reviews

Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.

Dear Sir, our customer care team has responded via email. Kindly refer to the email, we believe we are able to resolve your issue.

Dear Mr. Patil,

Our representative will revert to you shortly to resolve this issue at the earliest.

Regards,
Motilal Oswal Securities Team

Hi,

The issue is not yet resolve. I have requested the RMS selling procedure which i have not given to me. MOFS is seem to be not acting on the issue & simply trying to escape by not responding the issue.

Today 14th Oct 2010, they send the mail about RMS selling at 3:24:16AM, just before 3min to market close for clearing my position to avoid RMS selling which is totally illegal. No customer will be watching the mail box every second :)

The below mail which i have got today from MOFS for RMS selling just show that they are not following any RMS communication. The strong action can easily made against them.
""""
FNO DEBIT / SHORTFALL - DNSB8032
From:
Communications <[protected]@motilaloswal.com>
View Contact
To: [protected]@YAHOO.COM
Dear Customer,
This is regarding your client code (DNSB8032) in the name of MUKESH PANDIT PATIL with us.
There is shortfall of Rs. -139938.93 towards your futures & options positions. Requesting you to clear the shortfall urgently to avoid RMS selling.
If fund transfer is done or excess credit is lying in cash segment to the extent of FNO shortfall, then please ignore this mail.
Requesting you to check your ledger statement regularly to avoid any dispute in future.
Please do not reply to this email. For any queries, please co-ordinate with your branch or Customer Service Executives or write to [protected]@motilaloswal.com
Regards,
Online RMS Motilal oswal Securities

"""""""

They are simple cheater & do not have the proper answer to my query. There RMS head Mr Anupam taking the issue casually & do not have the strong reason for selling my position. They send mail about RMS just 3 min before the market close which shows they are not following the SEBI guideline as well as there own produce for RMS selling.

The strong action need to be taken for these broking firm which are least bother about the ustomer losses due to the illogical RMS selling. Mr Anupam (RMS Head MOFS) is tring to saving his RMS team mistake which is absolutely illegal.


Below are the details of the case, which has no response from the MOFS RMS team.

A) Client ID - DNSB8032, Friday 08/10/2010 Ireceived RMS Due report for FAO file enclosed in following mail.

-236, 398.15

RMS is Due


B) 07/10/2010 I had taken FAO position on EKC Oct 2010 against the selling of Punjlloyd Oct 2010.

C) On 07/10/2010 client had took position based in CASH segment based on Cash Margin Provided enclosing the transaction details… On Friday 08/10/2010 when the margin amount of Rs. 4, 80, 000+ shortage was reflecting on clients margin report we updated the client and client sold position worth Rs.5, 69, 290/-

D) 11/10/2010 RSM department sold position from FAO what I was holding, RSM process is last come first out…. Even that is not considered….. FAO positions are sold what he bought on 5/07/2010, no justification for the exercise took place from RSM Dpt. .

E) When RMS Dpt. Allowed client to take position in FAO based on Cash holding why RSM Dpt. Not restricted client to take further position in Cash Segment if it is any shortfall…. If RMS allowed to take position in CASH segment then RMS should have sold position from CASH segment to cover the net shortage…. Client is not responsible for MOSL keeping diff. ledger accounts for diff. segments and margin is provided on cumulative balance.

Regards,
Mukesh Patil
MOFS client ID: DNSB8032
CELL : [protected]

Dear Sir,

The issue is not resolve & no explanation given by Motilal Oswal on the issue. I have not received the RMS policy from Motilal Oswal till the date. I am generating Hugh turnover daily still no response to my mail which is very surprising & frustrating for me.

Please help to get my money back.

Dear Sir,

I am still to get the RMS procedure & policy, so i can proceed for the legal action. I want to file FRI (criminal stand based on Indian Panel Code act for fraud ). I also want to file the compliment based on the SEBI act to cancel the Broking firm licence.

I also going through the all legal document, SEBI rules & regulation for broking firm for RMS selling. Please help me to get support from your side to take the action against the MOFSL firm & sub-broker of MSFSL for there mistake.


Regards,
Mukesh
MOTILAL OSWAL CLIENT ID: DNSB8032
CELL: [protected]
Bangalore

Dear Sir,

I am withdrawing the compliant against the MOFSL. The issue is been resolve between me & MOFSL.

Thanks for your support.

Regards,
Mukesh

My trading code is xr10445 I have given DIS for transfer my share to another family member account as on 17/10/2018 by slip no.[protected] and submit it on your ranchi franchise Value Management Private Limited but it's yet not processed I call to Santosh Raj so many times but he say I will check but he never solve it. Now I m going to CDSL and SEBI

Here I am appealing for some help from you related to my stock transfer that values Rs. 369068 and it
was submitted on[protected]. Everytime MOSL avoid my query by saying that they will process my DIS
within few days, but the result is not at all positive.
Please support me in processing my DIS at earliest basis.