Show menu
Close
FAQ FAQ Sign in Sign in
Close
ADVERTISEMENT

Kotak Securities Ltd — Incorrect Liquidation of Securities in my Demat account

This complaint is regarding incorrect & erroneous liquidation of my securities after receipt of false debit mailers to me & also after receiving repeated confirmations from customer service executive over recorded phone lines informing me that my securities are safe & will not be liquidated. (Evidence for reference-Kindly refer to the taped telephonic conversation between me & the executive on 01/10/2009 between 10.00-11.30am).This is mainly due to non-reflection of funds transfer amount in the ledger balance which supplements inaccurate calculation by the risk management systems leading to false debit mailers, incorrect margin computation & false debit positions on my account, resulting into liquidation of my securities on 01/10/2009 in error.
I am completely disappointed & hurt with the approach of my broker in resolution towards this query of mine.
To resolve this problem I require my broker to return my securities that are incorrectly being liquidated. Further, I would like to suggest that they should make their risk management systems more efficient so that customers like me are not victimized for such mistakes at their end & that the information that is being provided to the customers from their executive should be truthful & accurate !
Thank You
Hrishikesh Sonawane
ADVERTISEMENT
Complaint comments  Add a CommentShareTweet

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    Customer satisfaction rating
    56%
    Complaints
    282
    Pending
    0
    Resolved
    153
    Kotak Securities Phone
    +91 6652 9191
    +91 6621 6666
    Kotak Securities Address
    27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, India - 400051
    ADVERTISEMENT