Stock Holding Corporation Of India Complaints & Reviews
Short delivery auction due to omitted orders
| Address: Ajit Singh 335/1 Gurdeep Nagar Jagraon 142026 |
Sir My client code is AS106705. On 15 Nov 2021 there was technical hitch with BSE Mumbai exchange and orders were being omitted. I put a sold order of 475 Redington ltd shares (Delivery) on 15 Nov 21 but due to orders omitted it were were sold twice (delivery) It got sold twice due to system failure and no fault of mine. Bill NoB/Nm/154/3764 for Rs 138436.90 for 950 shares. Amount for 450 shares comes to Rs 69218.45. . I informed SHCIL Ludhiana on telephome on 16 Nov and 17 Nov about this wrong transaction due to orders omitted. Now on 17 Nov 21 Shortage of 475 Redington shares have been debited in my account vide Bill B/Ser 156/63 dated 17 Nov 21 and debited amount of Rs 84958.50 resulting loss of Rs 15740.05
Sir I request you to refund this extra charged amount not due to fault of mine but due to system failure. Thanking you. From Ajit Singh
Sir I request you to refund this extra charged amount not due to fault of mine but due to system failure. Thanking you. From Ajit Singh
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Amc overcharges and false marketing schemes
Hi..
myself manjulaben patel, client id: 30306888. one of your marketing agent came to me at my home to open stock holding dmat account and asked me there is nominal annual 100 rupees charge or told me lifetime free account. but when i check letter of stock holding at my home droping heptic charges even my dmat account is inoperative from long time or my shares valuations are onle around 3000 rupees only. i went nearer branches at visnagar and mehsana ask ed them to close my account but they asked deferent charges each. i written account closer form but they didn't accepted from 2017 untill date. i told them i am inoperative now in share market from long time even no any transactions with stock holding from long evenif they charge heptic panelty. so, i urge you to solve my issue as soon as possible please or i am obliged to go consumer court for further actions.
THANKS.
MANJULABEN PATEL
myself manjulaben patel, client id: 30306888. one of your marketing agent came to me at my home to open stock holding dmat account and asked me there is nominal annual 100 rupees charge or told me lifetime free account. but when i check letter of stock holding at my home droping heptic charges even my dmat account is inoperative from long time or my shares valuations are onle around 3000 rupees only. i went nearer branches at visnagar and mehsana ask ed them to close my account but they asked deferent charges each. i written account closer form but they didn't accepted from 2017 untill date. i told them i am inoperative now in share market from long time even no any transactions with stock holding from long evenif they charge heptic panelty. so, i urge you to solve my issue as soon as possible please or i am obliged to go consumer court for further actions.
THANKS.
MANJULABEN PATEL
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No support from the surat branch office
| Address: NH 8, GETCO, Near Biltech Company, Kosamba, Dhamdod, Gujarat 394125 |
| Website: ppsu.ac.in |
We P Psavani University, Surat has already 6 NPS accounts register with CBO number - 6579775
For the last 3 months, we have opened an accounts but no one from the surat office was coordinate with us. we need to submit the NPS contribution but there will be no support and guidance from your end.
we are have tried to submit the NPS contribution many times but each and every time we have faced the issue of website maintenance.
we have called your surat office several times but the response from your office is not satisfied us to continue with your services.
Hardik Vyas
Hr Manager
P P Savani University.
For the last 3 months, we have opened an accounts but no one from the surat office was coordinate with us. we need to submit the NPS contribution but there will be no support and guidance from your end.
we are have tried to submit the NPS contribution many times but each and every time we have faced the issue of website maintenance.
we have called your surat office several times but the response from your office is not satisfied us to continue with your services.
Hardik Vyas
Hr Manager
P P Savani University.
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Change of address
My client id is 34036803 with stock holding limited. I have given compelete papers along with verification of original one to the rathyatra varanasi office of the company, in 2 times in span of four months but till the date it is still not updated my address so far. there is a huge red-trapism in the varanasi office of the company.
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| Address: Mumbai |
| Website: shcilestamp.com |
I have been pursuing with the Stockholding Corporation about the failure of Online eRegistration Fees Payment System accessed on shcilestamp.com, in printing Receipt No. DL[protected]. I have sent the corporation a screen shot of the stage at which the print command freezes. I have also followed the advice given in the FAQ as advised by the Corporation, in regard to the required system settings to enable printing. I am yet to receive any...
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NO TDS is appearing in 26AS Income Tax statement of TDS on interest on RBI BONDS
| Address: PUSHPA NARENDRA SARAF, FLAT NO. 404,DEVDAR BLDG. LOK UDYAN COMPLEX KALYAN(WEST) 421301 |
Ledger No. TBSHC[protected], TDS amount Rs.2906 deducted in Feb'2021 from interest payment. same is not appearing in 26AS statement of Income Tax under my PAN no. ABLPS9335E.
Pushpa Narendra Saraf
Mob no. [protected]
email. [protected]@gmail.com
Pushpa Narendra Saraf
Mob no. [protected]
email. [protected]@gmail.com
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System issue
My id is ns308806
I got the message stating below message. At a, time of trading it was showing me this qty in the stock aND so I sold this share and now saying it is not there. In that case please note I am not responsible for any extra charges incurred on this.
Insufficient qty in your demat a/c xxxx3035 for transfer of 39 shares of RELIANCE IND. Available qty will get transferred by pay-in date 21/06/21..NSDL
I got the message stating below message. At a, time of trading it was showing me this qty in the stock aND so I sold this share and now saying it is not there. In that case please note I am not responsible for any extra charges incurred on this.
Insufficient qty in your demat a/c xxxx3035 for transfer of 39 shares of RELIANCE IND. Available qty will get transferred by pay-in date 21/06/21..NSDL
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First time login problem
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Trading app and back office app
| Address: 2-2-24/P, SURYA RESIDENCY, FLAT NO 303, DD COLONY, BAGH AMBERPETA |
My login ID is VP122938 for online trading.The back office app is not responding and showing my email id is wrong. But I am a customer for the last 30 years and am having the same email id. I gave complaints several times with screeshot of error msg. But no reply.
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Mishandling of shares
My client ID is -2134367, and hold the account with SHCIL, Paradise centre- Secunderabad .
Since the last 1year this new team run by the branch manager Ms.Jyothi Boddu has been mishandling my stocks and selling them without my orders. This embezzlement has been happening for months now. And is coming to my notice only when I open my account to sell the shares, I realise that my share holdings of that particular company have come down. And many have been sold at lower price than I bought. I’m sure it’s a hardened money and none would sell it a at a lower price with a loss of rs 50-100/- per share.
When I buy the shares I get a message and if I’m selling I should have received the message as well that I sold. When I cross checked that how is it possible that I buy the shares the same day at an “x” amount and sell it with in minutes at a loss. And receive the buy message from SHCIL but not the selling of shares message from SHCIL. And if asked they say server must have been down. In just a couple of mins the server is down but half an hour later I get a message for another transaction of buying I did.
This is sheer negligence on the part of the team.
I’m really unhappy with the way the team at SHCIL paradise Secunderabad is providing the services.
I’m currently based out of Bangalore and the team at hyd is avoiding my calls.
Request you to please look into it.
Awaiting the grievance to be handled.
Since the last 1year this new team run by the branch manager Ms.Jyothi Boddu has been mishandling my stocks and selling them without my orders. This embezzlement has been happening for months now. And is coming to my notice only when I open my account to sell the shares, I realise that my share holdings of that particular company have come down. And many have been sold at lower price than I bought. I’m sure it’s a hardened money and none would sell it a at a lower price with a loss of rs 50-100/- per share.
When I buy the shares I get a message and if I’m selling I should have received the message as well that I sold. When I cross checked that how is it possible that I buy the shares the same day at an “x” amount and sell it with in minutes at a loss. And receive the buy message from SHCIL but not the selling of shares message from SHCIL. And if asked they say server must have been down. In just a couple of mins the server is down but half an hour later I get a message for another transaction of buying I did.
This is sheer negligence on the part of the team.
I’m really unhappy with the way the team at SHCIL paradise Secunderabad is providing the services.
I’m currently based out of Bangalore and the team at hyd is avoiding my calls.
Request you to please look into it.
Awaiting the grievance to be handled.
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Inferior quality of services
| Address: Bengaluru |
| Website: Stock holding corporation of India |
My credentials are IN301135 Client ID 26659897. Since last 1o years plus customer but highly frustrated with quality of services. Hard copy statement of charges & holding not received since last so many years. No online access to access my account and do transactions. Emails sent to customer care are never answered. Bank details are not updated. Interest payment by NSDL on SGB is not getting credited to may bank account. I can only access website for making payment of charges that too with interest without any fault of my own
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Wrong Billing/Account IN301330/19291877
| Address: BOMBAY |
| Website: SHCIL ONLINE ACCOUNT ACCESS MODIFICATION LINK |
I received a message on[protected] advising to pay Rs. 624 for the month of DEC2020 . Obtained details and found that this included Rs. 575 towards 7 DIS booklets. I do not accept this.
1)For modification of my Email Id, logged onlineaccountaccess on[protected], obtained OTP and submitted. To my surprise I received
this message: " Your request for DIS .."is registered and I received one within 3days.
2)I repeated my attempts on subsequent days in the hope of getting correct OTP, but result was the same.
3) In the mean while I also Emailed Customercare to stop further despatches but this was not followed and I received total 7 booklets
4)This failure was brought to their notice in my email of 11-12-20.
5)In fact the notice in their web page says a)Repeat request will not be entertained within one week 2) Subsequent DIS cannot be supplied within 3 months of previous request.
6) Sending wrong OTP, violating their own rules and procedure is entirely their system failure.
7)I have already asked SHCIL to revise the bill and intimate me.
Horever I shall pay Rs.75 for the first booklet only.
8) In spite of this I today[protected]received a reminder to pay Rs.624.
9)SHCIL should revise the bill and inform me for payment.
10)Please stop harassment and resolve my problem.
B VENKATRAMANA ACHARYA
1)For modification of my Email Id, logged onlineaccountaccess on[protected], obtained OTP and submitted. To my surprise I received
this message: " Your request for DIS .."is registered and I received one within 3days.
2)I repeated my attempts on subsequent days in the hope of getting correct OTP, but result was the same.
3) In the mean while I also Emailed Customercare to stop further despatches but this was not followed and I received total 7 booklets
4)This failure was brought to their notice in my email of 11-12-20.
5)In fact the notice in their web page says a)Repeat request will not be entertained within one week 2) Subsequent DIS cannot be supplied within 3 months of previous request.
6) Sending wrong OTP, violating their own rules and procedure is entirely their system failure.
7)I have already asked SHCIL to revise the bill and intimate me.
Horever I shall pay Rs.75 for the first booklet only.
8) In spite of this I today[protected]received a reminder to pay Rs.624.
9)SHCIL should revise the bill and inform me for payment.
10)Please stop harassment and resolve my problem.
B VENKATRAMANA ACHARYA
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Wrong billing issue
Client Id with SHCIL is 22300686. As on date, I do not have any outstanding dues to be paid for my above client ID. Whatever balance was due, was remitted by me to your Adyar, Chennai office in 2019 and confirmed by them that this is a LA account and no other charges are due. I have visited your Adyar branch and they also confirmed that since this being a LA account, it is a system error and no bill should be generated for amount due since there has been no transaction in the account for a long time.
Since this being a LA account I was also informed there should not be any annual charges levied and instead they need to pay me if I close my account. I have requested for closure of the account since I am not happy with the way things are being handled at Stockholding but the Manager of Adyar Branch requested me not to do so and assured that he would get this sorted out. I had been to the branch many times in this regard but no action is seen but bills being raised with interest loaded every time. I have taken up with your customer care also but no response. I sent to your grievance cell also but getting the message "not delivered to: Apurva.[protected]@SHCILServices.com because: Error delivering to Apurva Khochare/MKTOPRN/SSL/IN; Router: Database disk quota exceeded." I am unable to get any action on this since past more than a year even after visiting your Adyar, Chennai branch many times. Kindly look into this and resolve at the soonest.
Since this being a LA account I was also informed there should not be any annual charges levied and instead they need to pay me if I close my account. I have requested for closure of the account since I am not happy with the way things are being handled at Stockholding but the Manager of Adyar Branch requested me not to do so and assured that he would get this sorted out. I had been to the branch many times in this regard but no action is seen but bills being raised with interest loaded every time. I have taken up with your customer care also but no response. I sent to your grievance cell also but getting the message "not delivered to: Apurva.[protected]@SHCILServices.com because: Error delivering to Apurva Khochare/MKTOPRN/SSL/IN; Router: Database disk quota exceeded." I am unable to get any action on this since past more than a year even after visiting your Adyar, Chennai branch many times. Kindly look into this and resolve at the soonest.
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| Address: Jangali Maharaj road Pune |
Dear Sir,
Re:-. Cust.ID 22151875 non Dematerialisation of shares submitted, also not returned back till date
I had submitted The shares of Bajaj Auto, Bajaj Holding and Bajaj fin serv. For Dematerialisation with Your Branch situated at Jangli Maharaj road Pune in 2018.
Now it is about two year or more time has elapsed, the only Bajaj fin serv. Shares have been dematerialised but what happened with other...
Re:-. Cust.ID 22151875 non Dematerialisation of shares submitted, also not returned back till date
I had submitted The shares of Bajaj Auto, Bajaj Holding and Bajaj fin serv. For Dematerialisation with Your Branch situated at Jangli Maharaj road Pune in 2018.
Now it is about two year or more time has elapsed, the only Bajaj fin serv. Shares have been dematerialised but what happened with other...
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I have done a wire transfer to stock holding corporation of india for investment in rbi souverign gold bonds.
I have not got any acknowledgement from them confirming receipt of money.
Many times i tried to contact them in their phone no.[protected]. There is no response for nearly a month.
Once, i was fortunate that a female staff picked up the phone, got my bank transaction details and asked...
I have not got any acknowledgement from them confirming receipt of money.
Many times i tried to contact them in their phone no.[protected]. There is no response for nearly a month.
Once, i was fortunate that a female staff picked up the phone, got my bank transaction details and asked...
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| Address: B-16, Sagar Sanjog,7th Floor,, JP Road, Picnic Cottage, Versova, Andheri West, Mumbai City, Maharashtra, 400061 |
On jan 29 had submitted the request letter along with the cancelled cheque for the redemption, its been given in writing by 8th march neft will be done. It almost been 1 year no response from your side i had been calling on the number umpteen times but no response
Reference no: shcil/goi/bla shcmnbl002745
Please look into this and make the redemption at the earliest....
Reference no: shcil/goi/bla shcmnbl002745
Please look into this and make the redemption at the earliest....
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stock holding corporation of india charges
| Address: STOCK HOLDING CORPORATION OF INDIA OFFICE NO 206 SINDU-11 PLOT NO.302 WARD-12/b GANDHIDHAM KUTCH GUJARAT, Kutch, Gujarat, 370201 |
I am having an account with stock holding corporation ltd gandhidham where no statement is being send by them all the time they are demanding charges for payment from last five years no transaction of purchase or sale has been carried out as per law if holding is below rs 50000 no charges shall be laveid by the company further if their charges are not paid they will impose penalty on me and charge interest. Why should i pay there charges as a small invester.
Customer id no 24441476
Gajendra singh bolia
Customer id no 24441476
Gajendra singh bolia
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non cooperation from your staff
| Address: Thane, Maharashtra |
Today 16042019 at 10 a.m. I visited your thane west, vishnu nagar branch, maharashtra. I had some query and asked your male staff. He had given me very good cooperation, but one of your lady staff talked with me in very harsh tone and used abusive language.
She told me you asked your query to your brocker. You can also check cctv footage record.
So I kindly request you to investigate this and inform me, otherwise our family will close our account from your company.
She told me you asked your query to your brocker. You can also check cctv footage record.
So I kindly request you to investigate this and inform me, otherwise our family will close our account from your company.
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Resolved
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unnecessary demanding succession certificate when indemnity should be acceptable
| Address: Ahmedabad, Gujarat |
For account of deceased and no nominee or no will
All other banks use indemnity cum affidavit procedure up to 40 lakhs e. G. Bank of india so depositors legal heirs do not put undue hardship. These banks pay to legal heirs without insisting legal documents. But shcil does not want to adapt this and do not want to help legal heirs and wants to give hard time to legal heirs. Shcil unnecessary demand succession certificate for account worth more than 5 lakhs and less than 40 lakhs.
My father has account at ahmedabad office for more than 5 lakhs worth of stocks but less than 40 lakhs. Shcil do not want to use indemnity cum affidavit procedure and unnecessary demanding succession certificate.
Please wake up and keep updated current rules regulation with other banks in industry.
See example from bank of india
https://www.bankofindia.co.in/PageMenuDocs/KMBT[protected].pdf
5.1.7 in the absence of nomination and when there are no disputes among the claimants, the bank will pay the account balance amount of the deceased account holder (S) against joint application and indemnity by all the legal heirs or the authorised representative mandated by all the legal heirs to receive the payment on their behalf, without insisting on legal documents up to the limit of rs. 40 lakh approved by the bank’s board. This is to ensure that the depositors are not put to undue hardship on account of delays in completing legal formalities.
All other banks use indemnity cum affidavit procedure up to 40 lakhs e. G. Bank of india so depositors legal heirs do not put undue hardship. These banks pay to legal heirs without insisting legal documents. But shcil does not want to adapt this and do not want to help legal heirs and wants to give hard time to legal heirs. Shcil unnecessary demand succession certificate for account worth more than 5 lakhs and less than 40 lakhs.
My father has account at ahmedabad office for more than 5 lakhs worth of stocks but less than 40 lakhs. Shcil do not want to use indemnity cum affidavit procedure and unnecessary demanding succession certificate.
Please wake up and keep updated current rules regulation with other banks in industry.
See example from bank of india
https://www.bankofindia.co.in/PageMenuDocs/KMBT[protected].pdf
5.1.7 in the absence of nomination and when there are no disputes among the claimants, the bank will pay the account balance amount of the deceased account holder (S) against joint application and indemnity by all the legal heirs or the authorised representative mandated by all the legal heirs to receive the payment on their behalf, without insisting on legal documents up to the limit of rs. 40 lakh approved by the bank’s board. This is to ensure that the depositors are not put to undue hardship on account of delays in completing legal formalities.
Feb 25, 2019
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| Address: Ranchi, Jharkhand, 834002 |
| Website: Shcilestamp.com |
Sir, i have applied for 3 e-stamp paper but when i reached sub registrar office doranda ranchi, office staff told that you will get your stamp paper nearest stock holding branch. I went to stock holding branch ranchi but office staff of stock holding branch told that your stamp will not generated and amount will be auto refunded in your account but till date amount has not been credited in my account. Kindly do the needful...
Thanks...
Thanks...
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j&k bank shares held in my name in demat account
I am holding 4000 shares of jk bank in demat account and my client id is 18480747 dp id in301330. Isin : e168a01041. On 20 th june i requested for transfer of said shares to my other demat account held in hdfc bank talab till jammu. To my surprise the shares have been transferred to other account and not in mine account. This information i received from your office at jammu. I therefore request that please retrieve back my shares to my account held at yours. Ie stock holding corporation of india
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I'm customer at malleshwaram stockholding branch Bangalore, . Let me know how to update my bank details
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untoward behaviour of your bathinda branch
| Address: Bathinda, Punjab |
I'm a account holder under client i'd 16849933 dp id in301127 for more then 10 yrs. I am very much depressed by your bathinda (Pb) office services. I am regularly depositin yor charges. I have requested many a times for my account details. I am fed up from the services and their comments.."we cannot give you the details of your deposited charges go and complaint it". I am really fed up from yor abovementioned office staff behaviour. Pl take a suitabe action in this regard or close my account.
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not getting mobile trading password
I am client of stock holding corporation of india. Client id [protected].
I am making continuous fallow up with company's sangli branch (Dist, sangli, maharashtra) for getting activation o[censored]ser id and getting password for mobile trading. I have already submitted the required papers /documents with sangli branch, however sangli branch staff is doing nothing in the matter. I am sorry to say that the staff is not co-operative
I am making continuous fallow up with company's sangli branch (Dist, sangli, maharashtra) for getting activation o[censored]ser id and getting password for mobile trading. I have already submitted the required papers /documents with sangli branch, however sangli branch staff is doing nothing in the matter. I am sorry to say that the staff is not co-operative
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Stock Holding Corporation has arbitrarily sold shares from my Holding
Account against such dues which was already cleared by me. Thus, I have
incurred loss of Rs.5000/- (Approx.). Please look into the matter for
providing relief.
Account against such dues which was already cleared by me. Thus, I have
incurred loss of Rs.5000/- (Approx.). Please look into the matter for
providing relief.
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not releasing money for registration of property
I had made a payment of rs 21500/_ through neft vide no. Utr orbch[protected] on dt. 10.11.2017
From obc bank but the company is not releasing money despite repeated reminders. I have sent signed and stamped bank statement and aadhar card, still not telling where is deficiency. Land line phone also not attending. My request is either release or refund my money. What to do?
From obc bank but the company is not releasing money despite repeated reminders. I have sent signed and stamped bank statement and aadhar card, still not telling where is deficiency. Land line phone also not attending. My request is either release or refund my money. What to do?
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gold rush account 1000716
| Address: Mumbai City, Maharashtra, 400056 |
| Website: www.stockholding.co.in |
Have invested with shcil gold rush. Have started the withdrawal process and over a month now. No information or communication from them. All processing fee cleared via cheque and still no delivery of gold. The goldrush team only communicate via email and response is fixed we are coordinating with the concerned team.
I keep calling the vile parle branch but the lady only says she will get back to me. With updates but never have i received the update.
No body is bothered.
I wish i have any email address or contact number for the gm. Or vp so someone who can help resolve
I keep calling the vile parle branch but the lady only says she will get back to me. With updates but never have i received the update.
No body is bothered.
I wish i have any email address or contact number for the gm. Or vp so someone who can help resolve
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Dt 19/11/17 on line payment nps throw stockholding but not received nps dabit my bank account please check my account
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Resolved
Resolved
Regarding gold rush
| Address: Bangalore, Karnataka, 560054 |
| Website: www.stockholding.co.in |
Hi
We have account in gold rush. My customer id is224168. I have my son marriage on 6th may. For the same reason i have taken this scheme.
I want to withdraw my gold coins for jewelry purpose.
I discussed with customer care of sccil gold rush. She sent me mail with some documents. She asked me to send check with 4996 rs amount and one cancelled check.
I sent all document via speed post. All document with check has been recived on 17th april.
2 days i got call that request has been rejected. I called customer care she asked me to send 4996 rs via neft. She informed me that previous request has been rejected. She promised me that once payment done she will process my request. Still request is not processed yet. I am calling customer care and sending mail but not getting proper response.
We are very worried about marriage. We are dependent on that coins. I request you to help me my coin so that we can make jewelry for my son marriage
We have account in gold rush. My customer id is224168. I have my son marriage on 6th may. For the same reason i have taken this scheme.
I want to withdraw my gold coins for jewelry purpose.
I discussed with customer care of sccil gold rush. She sent me mail with some documents. She asked me to send check with 4996 rs amount and one cancelled check.
I sent all document via speed post. All document with check has been recived on 17th april.
2 days i got call that request has been rejected. I called customer care she asked me to send 4996 rs via neft. She informed me that previous request has been rejected. She promised me that once payment done she will process my request. Still request is not processed yet. I am calling customer care and sending mail but not getting proper response.
We are very worried about marriage. We are dependent on that coins. I request you to help me my coin so that we can make jewelry for my son marriage
Oct 10, 2017
Complaint marked as Resolved my issue got resolved
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there is no corporation or guidance. i have to get backmy gold for RMGP ID390071, 390071 and 390127.
CAMS say go to stockholding annanagar chennai. And stockholding say we have nothing to do.
Where do you think we can go???? Make it easier to the investors and dont make them a goat
CAMS say go to stockholding annanagar chennai. And stockholding say we have nothing to do.
Where do you think we can go???? Make it easier to the investors and dont make them a goat
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Non receipt of maturity proceeds of goi 8% savings bonds
| Address: Mumbai City, Maharashtra, 400069 |
| Website: stock holding corporation of india |
BLA NO TBSHC[protected]
As risk free investment Rs 1, 50, 000 werei nvested in GOI 8% Savings Bonds through SHCIL Vikhroli Branch on 08/08/2009 maturity date being 08/08/2015
interest was regularly credited by ECS up to 01/08/2013. Since then no credit for Interest + Principal on maturity tby ECS. In order to sort out the issue we have contacted number of times to Vinod & Priti at SHCIL - Mhape office. Every time both of them pulled on the issue by asking to call again after some time as they will find out the details, but after some time only telephone will ring but no pick up or response from them.
It is learnt from our banker that ECS has been made at wrong Bank account by them for the reasons known to them and funds have been appropriated from said wrong bank Account. Copies of all four written correspondence are annexed hereto.
Please help us to get back our investment in GOI 8% Bonds + unpaid interest.
We have also contacted Lennet & Nilesh at Vikhroli Branch of SHCIL as investment was routed through them. But both of them shown there inability to help in the matter.
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Resolved
Resolved
Refusal of Transmission of the shares to the nominee
| Address: West Bengal |
My uncle hold a demat account with stock holding corporation india ltd., for the past 10-12 years. At the time of the opening of the DEMAT account nomination was done & recorded in the books of SHCIL. Off late SEBI has issued a notification saying that the nomination has to be registered & updated and there should be NRN number.
Before the registration of the nominee could be done my uncle died. Now on the death of my uncle the nominee's claim is being rejected & and they are saying that a succession certificate from the court is needed on the grounds that the nomination is not valid & the account is of high value a/c.
Though the nomination was done prior to the issue of notification by SEBI.
Is it not unjustice with the clients ?..
Before the registration of the nominee could be done my uncle died. Now on the death of my uncle the nominee's claim is being rejected & and they are saying that a succession certificate from the court is needed on the grounds that the nomination is not valid & the account is of high value a/c.
Though the nomination was done prior to the issue of notification by SEBI.
Is it not unjustice with the clients ?..
Aug 13, 2020
Complaint marked as Resolved View replies
For account of deceased and no nominee or no will
All other banks use indemnity cum Affidavit procedure up to 40 Lakhs e.g. Bank of India ( check their website ) so depositors legal heirs do not put undue hardship. These banks pay to legal heirs without insisting legal documents. But SHCIL does not want to adapt this and do not want to help legal heirs and wants to give hard time to legal heirs.
I have same problem at Ahmedabad Office on my father account. SHCIL can increase their limit when they see there is no disputes among legal heirs
See example from bank of India
https://www.bankofindia.co.in/PageMenuDocs/KMBT[protected].pdf
5.1.7 In the absence of nomination and when there are no disputes among the claimants, the Bank will pay the account balance amount of the deceased account holder(s) against joint application and indemnity by all the legal heirs or the authorised representative mandated by all the legal heirs to receive the payment on their behalf, without insisting on legal documents up to the limit of Rs. 40 Lakh approved by the Bank’s Board. This is to ensure that the depositors are not put to undue hardship on account of delays in completing legal formalities.
All other banks use indemnity cum Affidavit procedure up to 40 Lakhs e.g. Bank of India ( check their website ) so depositors legal heirs do not put undue hardship. These banks pay to legal heirs without insisting legal documents. But SHCIL does not want to adapt this and do not want to help legal heirs and wants to give hard time to legal heirs.
I have same problem at Ahmedabad Office on my father account. SHCIL can increase their limit when they see there is no disputes among legal heirs
See example from bank of India
https://www.bankofindia.co.in/PageMenuDocs/KMBT[protected].pdf
5.1.7 In the absence of nomination and when there are no disputes among the claimants, the Bank will pay the account balance amount of the deceased account holder(s) against joint application and indemnity by all the legal heirs or the authorised representative mandated by all the legal heirs to receive the payment on their behalf, without insisting on legal documents up to the limit of Rs. 40 Lakh approved by the Bank’s Board. This is to ensure that the depositors are not put to undue hardship on account of delays in completing legal formalities.
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