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[Resolved]  Icici Direct — Unethical Business Practices

Respected Sir,

I have applied for ICICI direct Dmat cum trading account vide application [protected] in the month of Oct 2007 at ICICI Direct, Salt Lake, AF block, Kolkata and till date neither the account has been opened nor the proper reply has been received from the concern authority of ICICI direct.

At last, I have received the foul reply from Service Quality, ICICI direct on 20 May 2008 as the form along with my cheque, copy of credit card, stamp paper agreement was missed during transit. Therefore, I am planning to lodge a police complaint for misplacement of valuable documents by ICICI direct after hearing from the concern authorities.

In this connection, I have so far initiated more than 100 telephone calls and 50 email contacts for following up the matter with ICICI customer care team w.e.f Oct 2007. All the communications available with me is appended in Word Document and placed as attachment for evidence.

As per the ICICI Policy, Any queries asked have to be resolved within 48 hours. However, in last 8 months there was no significant response / respect to my queries at the ICICI customer care. Based on above facts and evidence, I suspect as the ICICI direct is doing foul play against business ethics formulated by Government of India authorities.

I have also wasted considerable amount of time and effort in follow-up with ICICI team, which leaded to me considerable loss in all aspects due to most negligence approach of ICICI direct customer care.

This email is intend to write as to notify all concern officers of ICICI, Ministry of Finance, SEBI, BSE, Banking Ombudsman and Media peoples to take necessary action at your end.

I request and I hope necessary enquires will be initiated by all concern officers and do the needful to me.

Thanking you


Regards
N Anand
Mobile: [protected]
[--JAI HIND--]



On 20/5/08, Service Quality <[protected]@icicidirect.com> wrote:
Dear Mr. Anand,

We value your relationship with ICICI Securities Limited.

We refer to your e-mail dated May 12, 2008 addressed to Head Service Quality regarding status of your ICICIDirect Account Opening Form (AOF) number: [protected].

With regards to the same and further to our telephonic conversation on May 20, 2008, your AOF number: [protected] was rejected on April 16, 2008 as the Stamp Duty / Franking validity expired on letter of authority. When checking at our end we found that your AOF have been lost in transit. We regret for the inconvenience caused to you. We focus considerable effort on training our staff to ensure high levels of service and we shall further strengthen our initiatives in this direction based on your feedback.

Further, Mr. Rohit Kumar Thakur ([protected]) will assist you in filling a new AOF tomorrow. We once again apologize for the inconvenience caused to you.

In case of any queries, do write to us.

Sincerely,

Bidhu Panda
Customer Service
ICICI Securities Limited



On 16/05/08, N Anand <[protected]@gmail.com> wrote:
Dear Madam,

No responce received tilldate.

It is not seems to be fair & ethic business practice for esteemed ICICI group company.

I feel very very bad on your way of working.

If, 9 months taking for opening an account without any setback or reasons.. it is the fact to feel shame for your working style..

Hope, postive reply / telephone, least minimum on status..

regards
Anand N
[protected]

From: Nallan Anand
Sent: Friday, April 11, 2008 8:00 PM
To: Service Quality
Subject: Re: 'ICICICARE=[protected]' ICICI Direct account opening application [protected]

Respected Madam,

Thank you for the information and initiative at your end..

Let me disclose the fact, I have earlier submitted thrice my identity proof of latest telephone bill copy duly signed by me...
The real fact very well known to Mr. Amit Das... He has collected from my residence every time..
The rejection of application for want of "latest telephone bill" is not convinced by myself...
I do not know, what foul play made by the concern team at your end for the delay..

Any way, Today Mr Amit das visited my residence at 7 PM as scheduled..
He has collected the recent telephone bill copy duly signed by me (forth time in last six months)...

This is for your information..

regards,
Anand N


From: Service Quality
Sent: Friday, April 11, 2008 2:06 PM
To: [protected]@gmail.com
Subject: 'ICICICARE=[protected]' ICICI Direct account opening application [protected]

Dear Mr. Anand,
We write with the reference to your e-mail dated April 08, 2008 addressed to our Head Service Quality regarding status of your ICICI Direct account opening application [protected].
With regards to the same and further to our telephonic conversation dated April 11, 2008, we regret to inform that, your ICICI direct account opening application [protected] has been rejected for the below mentioned reason.
· Required latest address proof.
Further, you have fixed up an appointment for rectification on Today at 6.30 pm. Sales person Mr. Amit Das will visit to your place.
For any further assistance, please write to us.
Sincerely,
Pallavi Sonavane
Customer Service
ICICI Securities Limited



From: Nallan Anand
Sent: Tuesday, April 08, 2008 10:23 PM
To: Helpdesk ; [protected]@icicibank.com ; [protected]@icicibank.com ; [protected]@icicibank.com ; [protected]@icicibank.com
Cc: [protected]@sebi.gov.in ; [protected]@sebi.gov.in ; [protected]@sebi.gov.in ; [protected]@bseindia.com
Subject: Re: RE:'ICICICARE=[protected]'

Dear Sir,

I have submitted application in person at ICICI Direct, Salt Lake, AF block vide application [protected] on 01 Oct 07 for opening Dmat cum trading account.

However, my application is not yet processed by your office and still kept in progress.. though 6 months and 8 days are left.

The 188 days delay in opening an account is extremely up normal & violating with SEBI guidelines & GOI directives.

The appended all communications (below) for follow-up action is also an evident for your negligence on customer.

I have also wasted considerable amount of time and effort in follow-up with your team, which leaded to me considerable loss in all aspects.

Considering the facts, action at your end expected on war foot.

Also, a fact of summery has been sent separately to SEBI for information along with ICICI direct SEBI registration No.

Regards
Anand N

Copy to:
1) SEBI, Bombay - For necessary action.
2) SEMI, Kolkata. - Please do the needful.
3) BSE, New Delhi - For necessary action.
4) Mr. K. V. Kamath, Managing Director and CEO, ICICI Bank Limited - for information
5) Senior GM, Quality Service - for information and n/a, please.




From: Helpdesk
Sent: Monday, April 07, 2008 1:20 PM
To: Nallan Anand
Subject: RE:'ICICICARE=[protected]'


Dear Mr. Anand,

We regret to inform that we could not respond to you with the resolution within the specified time. However, we are following up on priority.

We will reply you at the earliest.


Sincerely,
K.N.R. Sandeep
Customer Service Manager
ICICI Bank Limited




-----Original Message-----
From: Nallan Anand ([protected]@gmail.com)
Date: Friday, April 04, 2008 06:46 PM
To: [protected]@icicidirect.com ([protected]@icicidirect.com)
Subject: Fw: RE:

Dear Sir The Application submitted on 01 Oct 07. (Total delay at ICICI direct : 6 months and 4 days) Still you are not able "take up the matter with the team concerned". Do you not feel shame ? Anand N From: Helpdesk Sent: Tuesday, April 01, 2008 4:45 PMTo: Nallan Anand Subject: RE:'ICICICARE=[protected]' Dear Sir/Madam, We have taken up the matter with the team concerned to confirm the further status of your ICICI Direct Account opening form. We would revert you with the details on priority.Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank LimitedFrom: Nallan Anand Sent: Friday, March 28, 2008 7:38 PMTo: Helpdesk Subject: Re: RE:'ICICICARE=[protected]' Dear Ravi Chandrika Bade, I have just counted your msg "We regret the inconvenience caused".. it counts 17 times.. Still the inconvenience proceeds.. Anand N From: Helpdesk Sent: Monday, March 17, 2008 11:10 AMTo: Nallan Anand Subject: RE:'ICICICARE=[protected]' Dear Sir/Madam, We regret the inconvenience caused. As confirmed by team concerned, your ICICI Direct Account opening form will be rectified on March 17, 2008 and the same will be forwarded for further processing. The accounts will be generated at the earliest on processing the form. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message-----From: Nallan Anand ([protected]@gmail.com)Date: Thursday, March 13, 2008 05:28 PMTo: Helpdesk ([protected]@icicidirect.com)Subject: Re: RE: Dear Sir Noted your content of the msg.. The ICICI Direct rep has visited my residence on 24 Feb 08 for rectification of nomination error.. It is understood from them that they have wrongly entered my name inspite of nominee name.. any way error at your end is tolerated.. But, 24 Feb 08 to 13 Mar 08, is taken 19 days.. I am not able to understand, what is going on at your end..? Is it any problem with your system..? It is surprise to see, the customer service emails also not responded few times..? Certainly, It is not good development in ICICI management.. as I am seeing it, first time in my last 8 years relationship with ICICI... regardsAnand N From: Helpdesk Sent: Thursday, March 13, 2008 2:40 PMTo: Nallan Anand Subject: RE:'ICICICARE=[protected]' Dear Sir/Madam, Your ICICI Direct Account opening form is rejected again on February 21, 2008 for the details of nominee. The form has already been forwarded to the team concerned to arrange for rectification. We have taken up the matter with the team concerned to confirm the status. We will reply you with the details at the earliest. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message-----From: Nallan Anand ([protected]@gmail.com)Date: Tuesday, March 11, 2008 10:28 PMTo: Helpdesk ([protected]@icicidirect.com)Subject: Re: RE: May i know the present status.. Please note that my previous two emails were not replied by ICICI team..reason not known.. Anand N ----- Original Message ----- From: Helpdesk To: N Anand Sent: Saturday, February 16, 2008 3:25 PMSubject: RE:'ICICICARE=[protected]' Dear Customer, Thank you for your cooperation.Your ICICI Direct Account opening form is rectified and forwarded to our Central Processing Center for further processing. On completion of processing, the accounts will be generated at the earliest and you will be intimated accordingly. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message-----From: N Anand ([protected]@gmail.com)Date: Sunday, February 03, 2008 08:24 PMTo: Helpdesk ([protected]@icicidirect.com)Subject: Re: RE: Dear Sir, Thanks for the information.. I am having relationship with ICICI for a period of 8 years plus, I know little bit about ICICI about their dedicated Customer focus as well as their weekness.. I have confident with your management on commitment... Best RegardsAnand N ----- Original Message ----- From: Helpdesk To: N Anand Sent: Sunday, February 03, 2008 12:39 PMSubject: RE:'ICICICARE=[protected]' Dear Customer, Your ICICI Direct Account opening form is rejected and we have already escalated your concerns to arrange for rectification of the same on priority. We assure that we are looking into the matter on priority and shall get back to you at the earliest. We urge you to treat this as an exceptional occurrence and not as an indicator of our commitment to Quality Customer Service. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message-----From: N Anand ([protected]@gmail.com)Date: Saturday, February 02, 2008 06:25 PMTo: Helpdesk ([protected]@icicidirect.com)Subject: Re: Sir, Seems to be more delay at ur end.. Please, provide the status atleast.. Anand N[protected] On 30/1/08, N Anand <[protected]@gmail.comwrote: Dear Sir May i Konw the Status.. Anand N On Jan 28, 2008 2:00 AM, Helpdesk <[protected]@icicidirect.comwrote: Dear Customer, Having looked into your concerns, we find that we would require some more time to resolve your query. We regret the delay, however, we ensure that your concerns are looked on priority and will reply you with the details at the earliest. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message----- From: N Anand ([protected]@gmail.com) Date: Friday, January 25, 2008 09:26 PMTo: Helpdesk ([protected]@icicidirect.com) Subject: Re: Dear Sir, May i Know the Status, please. Anand N On Jan 20, 2008 3:00 AM, Helpdesk <[protected]@icicidirect.comwrote: Dear Mr. Anand, We have taken a request to arrange for rectification of your ICICI Direct Account form [protected]. We will reply you with the details by January 26, 2008. Sincerely, Ravi Chandrika Bade Customer Service Manager ICICI Bank Limited -----Original Message----- From: N Anand ([protected]@gmail.com) Date: Saturday, January 19, 2008 11:22 AMTo: Helpdesk ([protected]@icicidirect.com) Subject: Re: Sir I reached kolkata on 16 Jan 08 and I am free now. Please depute your person to do rectificastion.. Anand N On Jan 8, 2008 1:27 AM, Helpdesk < [protected]@icicidirect.comwrote: Dear Customer, We aplogize for the inconvenience caused. We request you to confirm us on your availability, so that we will arrange for rectification of your ICICI Direct Account opening form on priority. However. we focus considerable effort on training our staff to ensure high levels of service and we shall further strengthen our initiatives in this direction based on your feedback. We earnestly hope that the negative experience you had will not come in the way of your availing our facility. Sincerely, Ravi Chandrika Bade Customer Service ManagerICICI Bank Limited -----Original Message----- From: N Anand ([protected]@gmail.com) Date: Friday, January 04, 2008 01:54 PMTo: Helpdesk ([protected]@icicidirect.com)Subject: Re:SirI have already informed before submitting my application in your ICICIdirect, Salt lake centre as i will not be availble for short period.Hence, I have asked them to double ensure the form in person and givefeedback with in a week if any..However, they said everything is fine..after scrutinise.. now ???Anyway, service is not satisfactory..regardsAnand NOn 17/12/07, Helpdesk <[protected]@icicidirect.comwrote:Dear Sir, Our team concerned has confirmed that you are out of station andwould be coming back after 10 days. Hence, your ICICI Direct Account openingform [protected] would be rectified once you back. Sincerely, Pooja Ramteke Customer Service Officer ICICI Bank Limited -----Original Message-----From: N Anand ([protected]@gmail.com) <%[protected]@gmail.com%29Date: Thursday, December 13, 2007 12:40 PMTo: Helpdesk([protected]@icicidirect.com)<%[protected]@icicidirect.com%29Subject: Re:Any progress.. Anand N On 10/12/07, Helpdesk <[protected]@icicidirect.comwrote:Dear Mr. Anand, We have looked into your concerns and realise that we will need afew more days to revert to you. Please accept our apologies for the delay.We will definitely have a response for you within the next days.Looking forward to your co-operation. Sincerely, Nayantara Gadekar Customer Service Officer ICICI Bank Limited -----Original Message-----From: N Anand ([protected]@gmail.com) <%[protected]@gmail.com%29Date: Friday, December 07, 2007 06:49 PMTo: Helpdesk ([protected]@icicidirect.com)<[protected]@icicidirect.com%29Subject: Re:Any responce.. Anand N [protected] On 4/12/07, Helpdesk <[protected]@icicidirect.com wrote:Dear Mr. Anand, We have looked into your concerns and realise that we will need afew moredays to revert to you. Please accept our apologies for the delay.We will definitely have a response for you within the next days.Looking forward to your co-operation. Sincerely, Smitha GopiCustomer Service Officer ICICI Bank Limited
Complaint marked as Resolved 2020-08-14 00:10:50
Complaint comments  7 CommentsShare0Tweet0

Comments

kyon pareshan ho rahe ho forget icici open in another company. mai mar 2007 me apply kia tha abhi tak nahi khula oct 2007 wale to waiting me ho
ICICI has opened Demat account on 22/11/2008 for me.

Kindly give me the user name & password immediately.

regards
V.Thirumalainambi,
Larsen&Toubro Ltd.,
Coimbatore.
Ph:[protected].
Hello,
Stock market is a volatile market. Investors are afraid of entering Indian stock market due to such volatile conditions. FII are the one who are selling
shares like anything. Now we can see some relief rally in the market but still recession can curb the movement of the stock market. In these sort of market investors and
traders are confused like which stock they should select that is stock selection is the major issue now.

Have any doubt lets discuss it and help everyone

Happy Trading,
Hi,
Mumbai bomb blast can be considered as one of the most horrible attack. Due to blast even Exchanges like Regards and NSE are kept closed for one day.
Now post attack we are getting news of resignations of various political leaders and officers. So is that another political move or there inner self is waking up??

What you have to say about it??, Looks like some political move is there!!

Now stock market will be affected by all political moves, though sentiments are not good but on technical charts market is quite bullish for very short term, still sentiments will effect Nifty movement. So all are advised to trade in small quantity and with strict stoploss till the picture is clear.


Regards

Call at:-

91-[protected]
91-[protected]
91-[protected]

On Yahoo Messenger: [protected]@yahoo.com or [protected]@yahoo.com

On Google Talk: ShareTipsInfo1

Mail at:-
[protected]@sharetipsinfo.com
[protected]@yahoo.com
[protected]@yahoo.com
[protected]@gmail.com

icicidirect — no reply from the company on time

this is ramya, i opened a dmat account and want to delete it as i havent invested nay amount till now so please help me in how to delete the account
fromabhik kar <[protected]@gmail.com>
toHelpdesk <[protected]@icicidirect.com>

dateFri, Jun 12, 2009 at 10:33 AM
subjectRe: Returned mail: see transcript for details
mailed-bygmail.com


Dear Sir,
No responce received tilldate. My application no: [protected].
It is not seems to be fair & ethic business practice for esteemed ICICI group company. I feel very very bad on your way of working.

If, 1.5 months taking for opening an account without any setback or reasons.. it is the fact to feel shame for your working style..
Hope, postive reply.

Regards
Abhik Kumar Kar





fromHelpdesk <[protected]@icicidirect.com>
toabhik kar <[protected]@gmail.com>

dateThu, Jun 4, 2009 at 2:20 PM
subjectRE:'ICICICARE=[protected]' PROLONGED DELAY IN OPENING A DEMAT ACCOUNT:: Application no:[protected].



Dear Mr. Kar,

Your request regarding Account opening Status has been registered with us. The Service Reference number is SR[protected]. We will confirm the status by SMS or e-mail on or before June 11, 2009.

Sincerely,

Gaurav-Emails IDir-Mum
Customer Service Officer
ICICI Bank Limited



ICICI Bank now offers 8.75% p.a. on fixed deposits for 390 days and 590 days, 9.00% p.a. for 890 days. Please contact any ICICI Bank branch.

Register your request for Demat Account Holding / Transaction statements / bills or query for the status of any form submitted at the branch by selecting the 'Create Service Request' option under the 'Demat' menu on Internet Banking.

Stay connected for communication by updating your contact details through "Forms Center" at www.icicibank.com

"Now trade at high speed on low bandwidth with direct.com On-The-Move."

CONFIDENTIALITY INFORMATION AND DISCLAIMER

This e-mail message may contain confidential, proprietary or legally privileged information. It should not be accessed by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender.You will appreciate that e-mail transmission cannot be guaranteed to be secure or error-free as its contents are susceptible to loss, damage, interception, destruction, etc. Before opening any attachments please check them for viruses and defects. The notice appended to the e-mails is not intended to prejudice the interests of our customers in any manner or to evade responsibility for any act of done with the endorsement of ICICI Bank.



-----Original Message-----
From: abhik kar ([protected]@gmail.com)
Date: Tuesday, June 02, 2009 06:21 PM
To: [protected]@icicidirect.com ([protected]@icicidirect.com)
Subject: PROLONGED DELAY IN OPENING A DEMAT ACCOUNT:: Application no:[protected].

Dear Customer care,

PROLONGED DELAY IN OPENING A DEMAT ACCOUNT

One month ago, I (Abhik Kumar Kar) have applied for a DEMAT ACCOUNT
with ICICI Securities Ltd. I have provided all the information
required for opening the account and account opening fee cheque but
still there is no sign of opening of the account till now. My
application no: [protected].

Today, it is 02 June 2009, and still my account has not been opened.

Please do the needful in this regard as soon as possible


Thanks!!
Abhik Kumar Kar
Stay away from ICICIDirect.com. They have pathetic service quality. Not following SEBI mandate.
No point is escalating matters to Head of Service Quality of COO.They are hopeless...

Dont invest through ICICIDirect.com.

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