[Resolved] India Infoline Ltd / 5paise.com — trade done in the online a/c without authorisation

[Resolved] India Infoline Ltd / 5paise.com — trade done in the online a/c without authorisation

A ARUMUGASAMY from Chhota Udepur, Gujarat

I am a small investor, opened online trading a/c with India Infoline Ltd / 5paise.com to invest in shares and paid Rs.100000 as initial deposit. I was informed that the a/c was opened. I was waiting the right time to invest, but before that the broker without authorisation carried out trade resulting in loss. I have taken up with their branch through whom the a/c was opened. Still they continued the gambling type of trade, lost over Rs.60000 within 2 months. When I have written to their Head office, I got the reply saying that the trade done were intimated to me through e-mail/ SMS/ Courier, hence I have to bear the loss. NSE / SEBI does not allow broker to carryout trade without client’s authorisation. India Infoline Ltd / 5paise.com is such a great brokerage firm who can loose over Rs 60000 from the client’s a/c and disown. I want to give this issue wide publicity, so that other small investors are not put into suffering as i am facing. I propose to take legal action against India Infoline Ltd / 5paise.com to claim loss. Was this information helpful? No (0) Yes (0)
Mar 25, 2018 Complaint marked as Resolved Verified Support Feb 22, 2018 India Infoline Finance [IIFL] Customer Care's response Dear Sir, We have a high standards of quality staff who serves the customers at the best in the Industry.We would look forward to speaking with you .Requesting you to share your Login ID / Contact no. to reach out to you soon. Else, you can call us on Customer Service No.[protected] or mark us a mail on [protected]@indiainfoline.com from your registered E-Mail ID for your concerns. Regards, Team IIFL.
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Comments

Raju0001

from Mumbai, Maharashtra

Not only this is the case .. even if you do your trading ... the pip there nose in that when you stop for few days and do trading .. to make there commotion ... the most worst brokerage firm ... i request all of the people please come out and talk in public.. and express your angriness .. and make other to be aware.

India Infoline Finance [IIFL] Customer Care's response, Feb 22, 2018

Verified Support

Dear Sir,

We request you to kindly share your Login ID and Contact no. with us so that our officials will reach out to you soon regarding your query.

Else, you can call us on Customer Service No. 022-40071000 or mark us a mail on [email protected] from your registered E-Mail ID for your concerns.

Regards,
Team IIFL.

Ritesh_ch23

from Bengaluru, Karnataka

I also face similar problem. Without intimate me anything they already invested in market. And due to their irresponsibility of tracking it, I already lost over Rs.7000/- what I was putted in my account. Now we need to make unity and raise the voice for it and also need to take legal action for it.

Ramesh 611805

from Pune, Maharashtra

In the chart unable to open details. The R.M. or Branch Office uhnable to solve the problem.
(Ramm3142)

subbarao.v

from Hubli, Karnataka

vadlamani subbarao my dp id no IN 302269

CLIENT ID 11160674
STATEMENT OF MY ACOUNT PLEASE GIVE ME MY EMAIL ACCOUNT

NARCHA63

from New Delhi, Delhi

Sir, my cliient ID is NARCHA63. I have forgot my password. Thereafter, you have provided me a common password to my Cell phone no.[protected]. Despite repeated attempt through your common password, I could not open my trading account. You are requested to provide me again a common password so that I could open my trading account again.

u_pramod

from Kolkata, West Bengal

Never ever leave your trading account related problems to the mercy of your stock broker. Always, immediately drop a strongly worded email to their customer service or customer grievance and immediately write to NSE ([protected]@nse.co.in) or SEBI ([protected]@sebi.gv.in) without any delay. If you do not act within hours, then rest be assured, your money is gone. These brokerage firms earn through trades. So, they force more trades to earn more money. Indian laws have many many loopholes and they can exploit the loopholes in the system and do anything in your account. You won't be able to know and you wake up some day to find your money is gone and you are slapped additional bills by the Stock Broker for the Loss they have caused by abusing your account. Please be rest assured, these Stock Brokers in India and their illegal actions are strongly backed by the quasi judicial bodies in NSE and SEBI. So, protect you and your assets as soon as possible.