[Resolved] Reliance Money / Broker Services — COMPENSATION FOR BUYER SHORTAGES | |
I HAD BOUGHT SEVERAL SHARES THRUOGH RELIANCE MONEY. SOME SHARES WERE NOT DELIVERED AS THEY WERE NOT AVAILABLE WITH THE SELLER. NOW AS PER THE NSE/BSE RULES ALL SUCH SHORTAGES ARE MET FROM THE AUCTION MARKET AND IF THE SHARES ARE NOT AVAILABLE IN THE AUCTION THE SELLER HAS TO PAY THE BUYER 20% ABOVE THE DEAL PRICE OR THE SETTLEMENT WEEK'S HIGHEST TRADED PRICE WHICHEVER IS HIGHER. HOWEVER RELIANCEMONEY IS GIVING ME ONLY 1 OR 2 % SAYING THAT THE SHORTAGE WAS THEIR INERNAL SHORTAGE. KINDLY LET ME KNOW HOW THEY CAN MAKE THEIR OWN RULES WHEN THERE IS A CLEAR PROVISION IN EXCHANGE RULES FOR SUCH SHORTAGES. I AM ENCLOSING MY CORRESPONDENCE WITH THEM FOR YOUR READY REFERENCE AND NECESSARY ACTION. From Reliance Help desk User87 <customer.[protected]@reliancemoney.co.in> Sent Saturday, November 10, 2007 6:03 pm To [protected]@reliancemoney.com Subject Buyer Shortage CRM:04150025 Dear GIRDHAR, With reference to your email regarding non-receipt of shares for delivery buy transactions, we wish to clarify as under. Due to the current settlement process in place, occasionally the clients may not receive the shares for their purchase transactions, instead may receive close out credits. This could be either due to short receipt of shares from the exchange or due to internal shortage. In case of internal shortage, the same are closed out as per the internal policy of the Company. The Company has decided to close out internal shortage at buy price + 2 % both for buyer’s shortage as well as seller’s shortage. It is assumed that this procedure is fair and reasonable and acceptable to both buyers and sellers. This is because if a client has received short delivery in particular settlement, the same client might be giving a short delivery in a future subsequent settlement. You may write to us at customer.[protected]@reliancemoney.co.in or call us at 39886000 for any further assistance. Assuring you the best of services. Yours sincerely Customer Support I HOPE THAT I WILL RECEIVE YOUR SUPPORT IN GETTING MY DUES. THANKING YOU, PRADEEP KUMAR GIRDHAR Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 1 Comment | |
Comments
Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good
a company is at responding and resolving complaints by granting from 1 to 5 stars for each
complaint and then ultimately combining them all for an overall score.
Read more
Read more
37%
Complaints
378
Pending
0
Resolved
138
+91 44 3025 4749
+91 44 3025 4750
+91 44 3025 4758
No 6 Reliance House, Opposite Sastri Bhavan, Haddows Road, Nungambakkam, Chennai, Tamil Nadu, India - 600034
View all Reliance Money contact information
This is Premraj. My Clients id is K00041294. My user id is KPRK0004. I feel very bad with Reliance Money. I understood that Reliance Money's Customer Care did not take care of this below:
First I had received all packages including new security token, user id. Also I got a new password on my email id on reliance money. I already changed to my personal password immediately. I opened a reliance money for stock money and already transfered the amount from bank into reliance money after entering id and password successfully.
Last December I again entered user id, password and security token number but it said security token number was failed. I was shocked that i tried to enter id, password and security token number but failed again. I was very tired. I lost rs.500. Many times i emailed you regarding this above. but you never reply and you are silient. I am so angry against you.
Then I was shocked that I got your email of last time saying you have already sent another new security token to Jayanagar Branch, Bangalore. I have still not received another new security token number from them till now.
Premraj