Motilal Oswal Financial Services Ltd Complaints & Reviews
Excess brokerage charged
| Address: Ahmedabad |
Client code :- SVS5049
Fraud is happened with me
Executive from motilal oswal has made a main role in this fraud
Shubham jonwal borker patner along with RM(rajeev-[protected])([protected])OF MOTILAL OSWAL combindly had done this fraud.
Told me about stock advisory trading. So i have open demat in motilal oswal
He told me brokerage per lot will be 100₹
And i have told him that i will not doing work with you. As your brokerage are very high. After many discussions he told me i will upate it and then we will trade
After 15-20 minutes he called me and said that your brokerage is updated to rs 20 per trade now trade as I say.
I took the banknifty put option strike on Call of RM of motilal oswal.
And in value of ₹ 8500 option
I am charged rs 89000 as brokerage.
Shubham jonval phone is switch off.
Please revice my brokerage amount as soon as possible.
Please help me ouT
Fraud is happened with me
Executive from motilal oswal has made a main role in this fraud
Shubham jonwal borker patner along with RM(rajeev-[protected])([protected])OF MOTILAL OSWAL combindly had done this fraud.
Told me about stock advisory trading. So i have open demat in motilal oswal
He told me brokerage per lot will be 100₹
And i have told him that i will not doing work with you. As your brokerage are very high. After many discussions he told me i will upate it and then we will trade
After 15-20 minutes he called me and said that your brokerage is updated to rs 20 per trade now trade as I say.
I took the banknifty put option strike on Call of RM of motilal oswal.
And in value of ₹ 8500 option
I am charged rs 89000 as brokerage.
Shubham jonval phone is switch off.
Please revice my brokerage amount as soon as possible.
Please help me ouT
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OFinancial advisor dipesh gupta of motilal oswal
Motilal Oswal Financial Services Pvt Ltd
Motilal Oswal Financial Services Pvt Ltd — Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
22nd April 2022
Subject: Fw: FRAUD TRADING AT MOTILAL OSWAL
Motilal Oswal
Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
Client code AY414
I am client of MOTILAL OSWAL
Because of Fraud trading I suffered a loss of Rs 22000
on 12 and 18th April 2022.
All this because of Fake trading. I would like to inform all consumers not to believe these Fake Financial Advisors.They intentionally do not put Stop loss so that you should suffer a loss.Everything is Preplanned.
Motilal Oswal Financial Services Pvt Ltd — Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
22nd April 2022
Subject: Fw: FRAUD TRADING AT MOTILAL OSWAL
Motilal Oswal
Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
Client code AY414
I am client of MOTILAL OSWAL
Because of Fraud trading I suffered a loss of Rs 22000
on 12 and 18th April 2022.
All this because of Fake trading. I would like to inform all consumers not to believe these Fake Financial Advisors.They intentionally do not put Stop loss so that you should suffer a loss.Everything is Preplanned.
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1 Financial advisor dipesh gupta of motilal oswal
MOTILAL OSWALFINANCIAL SERVICES
SSavita B
from MUMBAI, Maharashtra
Apr 21,
Subject: Fw: FRAUD TRADING AT MOTILAL OSWAL
Motilal Oswal
Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
19 Apr 2022
Client code AY414
I am client of MOTILAL OSWAL STOCK BROKER.I am holding this account for pady 2 and half years. In February 2022 Motilal Oswal appointed GINAMCIAL ADVISOR. The FINANCIAL AFVISOR had to be consulted for anything to be carried out in the account.He would also recommend where we can carry out trade in which stock. His name DIPESH GUPTA. I was following his advise.Since then I am suffering losses. I would like to ask MOTILAL OSWAL whether FINANCIAL ADVISOR has been appointed to make losss for us. Also I suspect that he is doing fake trading.Many times he has changed the prices of the stocks like he took my confirmation when stock price was Rs 488 and purchased the stock at 491. Always the price he would purchase at day is Rs 98 and as soon as he purchases the next thing within 15 minutes the price comes down to Rs 76.Is that possible?
But he had put stop loss of 10 to 12 rupees despite that stock price had gone down from 98 to 76 and then he will sell at Rs 86 reporting loss of Rs 10 .But then he will do averaging by buying more stocks at Rs 76 .All this sounds fishy because this was happening in the same manner every day.This is not genuine TRADING.This is FAKE TRADING.They pretend to have recorded your confirmation ETC but Confirmation for FAKE TRADING ie when they contacted me the price of the stock was not that what was in screen.
BEWARE OF SUCH FINANCIAL ADVISORS.
SSavita B
from MUMBAI, Maharashtra
Apr 21,
Subject: Fw: FRAUD TRADING AT MOTILAL OSWAL
Motilal Oswal
Financial advisor dipesh gupta of motilal oswal
Savita B
from MUMBAI, Maharashtra
19 Apr 2022
Client code AY414
I am client of MOTILAL OSWAL STOCK BROKER.I am holding this account for pady 2 and half years. In February 2022 Motilal Oswal appointed GINAMCIAL ADVISOR. The FINANCIAL AFVISOR had to be consulted for anything to be carried out in the account.He would also recommend where we can carry out trade in which stock. His name DIPESH GUPTA. I was following his advise.Since then I am suffering losses. I would like to ask MOTILAL OSWAL whether FINANCIAL ADVISOR has been appointed to make losss for us. Also I suspect that he is doing fake trading.Many times he has changed the prices of the stocks like he took my confirmation when stock price was Rs 488 and purchased the stock at 491. Always the price he would purchase at day is Rs 98 and as soon as he purchases the next thing within 15 minutes the price comes down to Rs 76.Is that possible?
But he had put stop loss of 10 to 12 rupees despite that stock price had gone down from 98 to 76 and then he will sell at Rs 86 reporting loss of Rs 10 .But then he will do averaging by buying more stocks at Rs 76 .All this sounds fishy because this was happening in the same manner every day.This is not genuine TRADING.This is FAKE TRADING.They pretend to have recorded your confirmation ETC but Confirmation for FAKE TRADING ie when they contacted me the price of the stock was not that what was in screen.
BEWARE OF SUCH FINANCIAL ADVISORS.
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Resolved
Resolved
Fraud regarding redemption of Me-Gold
| Address: Motilal Oswal Financial Services Limited ,Malad-Palm Spring Center, New Link Road Malad (W) Mumbai - 400064 |
| Website: www.motilaloswal.com |
It is really shameful that Motilal Oswal Financial Services is openly doing fraud nowadays, their is no one to protect the rights of retail investors. I complain several times regarding the irregularities of Motilal Oswal Financial Services, (some Consumer Court complain are also live here) . So atlast I decided to close my account, but after repeated request for closing the account, along with clearing the amount in my demat account and in the form of MeGold. Motilal Oswal Financial Services first showed a huge negative balance in my account and asked for money. When complaint with proof they corrected with no other way left. But this time they closed the account without, clearing me my Rs 2000 (now 2500) wroth of MeGold. After repeated request also they have not taken any initiative. I will like to draw your attention that this is not the first time, Motilal Oswal has willfully caused me a loss of Rs 50000 by doing intraday trade without keeping stoploss even after repeated request to keep stoploss.(complain being placed on India Consumer Court and SEBI) I will request the forum to take strict action against such brokerage house and it's irregularities. And also request for my early redemption of my MeGold ( The proof of the above is attached, send from their server itself). I will request everyone to stay away from this fraud company and save your hard earn money. ****Please avoid this company for your own safety
Aug 3, 2020
Complaint marked as Resolved Issue Resolved
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shares not transferred to my another dp a/c
| Address: Kolkata, West Bengal, 700067 |
| Website: [email protected] |
I being a client o[censored]rself in kolkata. But my code unauthorized transferred to ur ranchi franchisee office (Value management solution pvt ltd) so, i instructed to ur ranchi office for transferring process or request to sell off all holding stocks, but no any action from there, at last i decided to transfer my shares from mosl to my another dp a/c through mumbai ho (Mosl ofic), therefore, i was send dis slip with execution dated on 12.02.2019 & also send a/c closure with client master list. But still no transferred or any replied, my code is xka345, arvind kumar chokhani.
Pls look into the matter otherwise i will take stickily proper action...
Pls look into the matter otherwise i will take stickily proper action...
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Dear Sir, we have escalated your concern with our relevant team. You will be contacted soon.
Reply
Dear Sir, our customer care team has responded via email. Kindly refer to the email, we believe we are able to resolve your issue.
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Resolved
Resolved
RMS selling without any prior notice
| Address: Karnataka |
Hi Motilal Oswal Team,
This is second time happen that the stock are sold without any proper & prior notice, which cause to serious financial losses.
Customer Name: Mukesh Patil
Client ID: DNSB8032
The RMS selling is done for the below stock on 11th Octomber 2010, without any prior notice (mail, SMS etc & seem to be not justifiable
1.
Future & Option "Jindal South West Holdings Limited" 4 Lot * 125 = 500 shares
Buy @ 2232 (inc tax+brokarage) sell @ 2120.57 = loss approximately 55715 INR
2.
Future & Option "OnMobile Global Limited" 1 Lot = 1000 shares
Buy @ 388 (inc tax+brokarage) sell @ 375 = loss approximately 12950 INR
Please refund all the money INR 69000 at earliest.
Regards
Mukesh Patil
mail: [protected]@yahoo.com
This is second time happen that the stock are sold without any proper & prior notice, which cause to serious financial losses.
Customer Name: Mukesh Patil
Client ID: DNSB8032
The RMS selling is done for the below stock on 11th Octomber 2010, without any prior notice (mail, SMS etc & seem to be not justifiable
1.
Future & Option "Jindal South West Holdings Limited" 4 Lot * 125 = 500 shares
Buy @ 2232 (inc tax+brokarage) sell @ 2120.57 = loss approximately 55715 INR
2.
Future & Option "OnMobile Global Limited" 1 Lot = 1000 shares
Buy @ 388 (inc tax+brokarage) sell @ 375 = loss approximately 12950 INR
Please refund all the money INR 69000 at earliest.
Regards
Mukesh Patil
mail: [protected]@yahoo.com
Aug 13, 2020
Complaint marked as Resolved View replies
Dear Mr. Patil,
Our representative will revert to you shortly to resolve this issue at the earliest.
Regards,
Motilal Oswal Securities Team
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]
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.
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
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
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.
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.
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Motilal Oswal Financial Services Ltd Recent Comments
- shares not transferred to my another dp a/c
I being a client of urself in kolkata. But...
2 - RMS selling without any prior notice
Hi Motilal Oswal Team, This is second...7