Sharekhan Complaints & Reviews

I joined as a franchisee - Manohar Krishnan Nair (code no 1559) kharghar, with SHAREKHAN LTD in Aug 2008 & paid Rs. 1lac as franchisee deposit by cheque.

On 22.12.2009 i had only inquired about the procedure to discontinue my franchisee
and refund of my deposit.

On 30.12.2009 they were very prompt to terminate my franchisee, although I agreed to their hasty decision by signing the documents on 04.01.2010 they are finding excuses to refund my deposit and also the Dec 2009 brokerage sharing is not released.

One of the executive named geetanjali from sharekhan ltd has demanded confirmation letter from all my 57 clients. This is an impossible target to be met and it was not specified at the time of joining and now these 57 clients are mapped under sharekhan"s VASHI branch.
Please advice.

Sir,
I have applied for Demat A/c in Share khan and paid RS 2000, Demat A/C ID[protected] was allocated to me but that was locked. I have not received any kit or service for this A/C, I have inform several times to customer service department but even though no proper response at last July 09 I went to their office at lower parel and submitted as written complaint and asked them to reimburse my RS 2000 but I have not received any response from customer service after that I have put complaint in 21/09/09 on 22 I received call from customer service and just replied we will investigate and come back to you still I have received no response to it as well as no reimbursement of money yet .

Dear sir,

I received the welcome kit last month, But i am not able to trade with the trading password received along with it as it is appearing ' invalid' password. I had changed my membership passward (not trading password which i received with welcome kit) as per site instruction. I can login with the changed membership password but when it comes to trading section it shows 'the trading password(received with welcome kit) is not valid'.

And now i am it is showing my login ID and password also invalid. I want to transfer the money i had kept in sharekhans account for trading but i am not able to do it also. I had tried to register a complaint on their customer care, but no one is attending the call. I sent some emails also but there is no action form other side. So I request you to kindly take some necessary action against them and help me in this matter as soon as possible .

Wating for your favourable action and reply.

Thanking you
sumit
customer ID-1050469

I had applied for the Demat A/C through my investment advisor.All the required documents were submitted.There was a very small mistake on the cheque. there was a mis print of A/C no, only a zero from the middle was missing. But as per the bank manager it was nothing important, as the A/c number was only the last four digits, and as far as the clearance of the cheque is concerned it is they (bank) will do it as the cheque will come to them itself. So they told me not to worry and inform anyone who is objecting to it.But even though I requested to restamp the number on another cheque and even got it signed by the manager and submitted again.All this took almost 20 to 25 days due to poor correspondence of ShareKhan Team.
And now suddenly they are telling me that the submitted new cheque is misplaced....! Just imagine the carelessness of these "Shares" and after giong through all the complaints in this forum I would like to withdraw my application. But what about my two cheques taht I have submitted to them?????
Share is reallyg not a share but a Billi...

Dear sir,
Any officer is corupted and please this crime is solved.
Yeh pura case C.I.D. ko delvaiye or is ko hal kar vayen mahoday.
Dhanyavaad
Thanks
ajay sharma
near to max tailour
lal ghati road sanjeet
naka mandsaur (m.p.)
India

Recently(To be precise on 24th October 2009) I was caught by a banner advertisement by ShareKhan Ltd. which was relating to opening of demat account with Minimal charges. I promptly click on the advertisement which took me to a web page where I needed to fill the details of contact. The contact detail will be utilised by there relationship department to get a customer.

They were so prompt that amazed me with there speed service where their sales agent came with two hours to explain me about the account opening features and everything. He even got hold of the statement of accounts from my bank which only i was allowed to access(Permission taken on a blank sheet).

The person promised that within a week all procedures will be done and you can start trading within a week time.

Being Happy on the speed service delivered by them turned into my Nightmare when the company failed to get my confirmation letter and password.
Firstly it was send by their official courier vendor bluedart who confirmed from me my address 5 times. and after 7 days of me contacting back and searching with my docket number I came to know my delivery place was not in their service area. I contacted sharekhan again. They said the docket will back and ll be couriered again by state run Speed Post. I said ok please do that.

After repeated contact with them still I haven't received any docket details. I am not sure whether they have sent it or not. They refused to register my complaint and give me a complaint number.

It has been a month, and approximately 1000 calls to their head office, Branch Office, company own courier vendor Bluedart , Government runned post office .

The Nightmare Doesnt stop here. The head office refused to care about my confirmation letter uses my details for other cross and up selling technique.
Calling me and harassing me on my officer hours wanting to know about my future investment plans.

Branch official are no where concern with the problem i am facing. one of the quoted statement i would like to quote came from a female employee and i quote"Sir aap bhi hamare customer nahi bane ho..aapko acount activate karna padega uske baad hi Hum aapki madat kar sakte"

They day i said i would like my money back and would like to close down my account. Numerous calls came in from Head office and branch office(person who opened my account). All empathising and Sympathising but no one has a clue about my confirmation letter. Till now I haven't received my Docket from any courier company.

Today is 4th December 2009 Exactly 1 month from the day i got my confirmation message of opening of my account. But Still No one from the company Sharekhan has any clue about my despatched confirmation letter and Password.

Dear,
This is to inform that i am a client of share khan Noida Branch ID-200798, Dp id[protected].
It was relating Rpl Merger into Reliance Industries.As it is been a long time now that i have not received the balance amount of that settelement for that i called to noida branch for details of the same.
There was any Mr Avinash who told me he cannot give me any details regarding it he also told me this it is not our work for this client have to get in touch with the registar and when i asked about the registar details he was also unable to give me that.then i told him i will complaint regarding this he told me very very rudely TU JO KAR SAKTA HAI KAR LE .
its been last 4 yrs i am having this a/c with sharekhan but till now i havent received any call from my relationship manager . this is the service you people promise to give at the time of a/c opening.
I am very much disappointed with the behaviour of Mr Avinash and the services .

Best Regards
K K Kohli
[protected]

Dear Sir

There was an announcement from SEBI that there should be no Entry load on Mutual fund from 1st August.I had deposited in three different mutual funds through Sharekhan in the month of August.2.25% was charged as entry load for all my Mutual fund accounts.

I request Mrs.Sharekhan Ltd to kindly refund the amount deducted or provide proper explianation for the total amount deducted.

Thanks & Regards
Karthik.B

Dear Team,


My name is Mr. Bhushan Zankar Katariya.


My customer id is 948755.


Yesterday, I transfer cash from my ICICI A/c to Sharekhan demat A/c using sharekhan's web portal.


The amount of Rs.5000/- has been debited from my ICICI A/c but the same has been not updated in my Demat A/c.


I am really very tense, How this can be happend??????


At that time I got error on sharekhan portal that "We are sorry the request not be processed at this time Please try later"


Please help me in this matter. For your refernce Please find attached screenshot of my ICICI A/c statement.


I am waiting for your reply.


Regards,
Bhushan Z Katariya.
Cell:[protected]

Hello,

I have transfered 40000 Rs from my ICICI account to "Sharekhan Limited Web A/C 106846" on 10/10/09 through internet. ICICI bank transaction ID is [protected].

This transaction did not get completed, but amount has been deducted from my ICICI Bank account.
Finally it showed "Kindly wait while we pass on your payment confirmation to SHAREKHAN LIMITED WEB A/C", but then it did not show next page.

Now my ICICI bank account has been deducted by 40000 Rs but, there is no amount showing in my Sharekhan account.

Please do the need full. Or let me know how to proceed.

Thank You,
Piyush

Hello sir my name is Nikunj Bhalala,,,in Septmber month i was working with Share Khan in Dahisar branch,,,,in under of Jagdish Gada (Branch Mngr.)
he appointed me at 7500rs./- salary,,,,,but on 30th septmber he told me that dont come office from tommoroww,,,its ok but he gave me only 3500rs for salary,,,now he told me he will not given my pending amt,,when h eappoint me he naver told me for clienting,,,after my joining he told me for clienting,,he never told me to cum on saturday,,now he told me u r not cuming on saturday,,,for that reason he never give my salary,,,and also he using abuse langauge,,,but now i m also lose my control,if he not given my salary i m doing anything,,,i hav list of that branch client number ,,also have good relation with all them,,,,i will inform to all that close the account and many more thing i will do,,,,,


plz do something or reply what to do??????reply me on my email,,,,,[protected]@yahoo.com

I m one of the disappointed customer of Sharekhan india Ltd.
trade tiger is very slow what is desired.
Scrips are updated nearly in 1-2 minutes and i[censored] are trying to place a order than u will be greatly suffered, ur rate will go higher or lower but ur order will be still pending.Better to place order on limit to save ur self

1. Updating the amount is taking more than two business days, so, customer is unable to justify for doing the business with what self amount he may do the purchasing.
2. By delaying the amount updating it seem that sharekhan is cutting the margin trading charges against the business done without credit amount in the account. Or else there may be systematic protocol such as keeping the loophole for charging the margin trading charges against the trade done more than credit shown in the “Margin Tab”.
3. Without sufficient credit amount displaying in margin, some time not allowing the purchasing as desired numbers of shares. So, it is mandatory to update same the amount should updated credit after every two business days positively but practically it has shown failed to carry out by Sharekhan.
4. Online” entraday” trading is becoming offline trading long day trading instead. Active online server also not active but surely it is proving passive. This is controlled by software financial programmer or MBA, specialist for negotiations to cut or hacking the customers gain very smartly.
5. I hope SEBI will restrict the following discrepancies created by sharekhan.

this is the continuation of the my earlier post "frauds at sharekhan". Sharekhan is a company which makes profit by unauthorised trading at clients account. As i told in my earlier post they did some unwanted transaction without my knowledge and did create a confusion between me and their own franchycy who is well behaved gentleman saying that franchycy himself doing all these things. When i posted complaint on "consumercomplaints.in" it made them to find a reason for their stupidity. Now they are telling that transaction is done by "risk department". when i asked why , they are thinking of a reason now. The loss which was at 5700INR is now at 12000INR since price of tata steel jumped 6%. now apart from reversal of trade , i ask those uneducated bunch of crooks at the sharekhan to explain what is the work of "risk department" and why it is creating risk to the costomer
I thank "consumercomplaints.in" which made sharekhan to reply my concerns

I applied online through Sharekhan Web Site for Adani Power IPO. 98 shares are allotted to me but even after more than 15 days not credited in my DP account 13752562 with Sharekhan.

I have online trading and DP account with Sharekahn Ltd. Adani Power is asking for scanned copy of application which is not with me because IPO application was submitted by ShareKhan - Application number is 15941101.

Processing, application and collection of IPO is done by Sharekhan I only apply online to sharekhan and made payment through online bank account.

It is responsibilty of Sharekhan to resolve the issue with company. There is no problem with my account with sharekhan it is active i do trading regularily and other IPO like NHPC shares directly credited to my DP account which was also applied online through Sharekhan.

Sharekhan Ltd. does not reply my emails (more than 10 emails sent). I am in overseas so can't contact on phone or in person.

I m a equity invester and prestly trading at sharekhan account no. 149045 . 3 days back all my holdings were sold without my knowledge and left the account with 65000 credit. Owner of the franchisy told its done by the higher authorities due to some account mismatch and he apoligised to me. This is happening for me for 2nd time , Now when i ask to reverse the transaction they are not ready since they have to bear the loss of 5700
When i called to the company they asked my complaint and told they will return with the solution and this procedure of complaining has been repeated 3 times they are yet to find a reason and solution

dear sir,

i have a demat a/c with sharkhan limited mmbai.i would like to tell you about sharekhan complaint.
that when i opened my account with sharekhan branch c-scheme jaipur.then tell me by sharekhan sales
executive about there brokerage that we have taken a intra charge 0.03 paisa, & holding charges 0.30 paisa.


but last one year when i opened my account in sharekhan form 21.08.08. share khan taken me excess
brokerage.it takend brokerage 0.10 paisa intra charges & 0.50 paisa holding charges.

thend i talk to sharekhan branch they said my that we can do anything.

i have lost ruppes 10000 to 120000, from excess brokerage.
i request to you that please credit my excess brokerage in my accont.

stock broking agency SHAREKHAN Limited whose Registered Office is located at: A-206, Phoenix House, Phoenix Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai- 400013. Dear Sir/ Madam, My name naresh kumawat, a customer of Sharekhan Limited & having a customer id 793563,

naresh kumawat
customer id = 793563
mob. no. [protected]

Hello Sir/Madam,
My sharekhan document has been delievered from 21th August to Bombay.But I have not foun this time ,i do not about the status of this delievery ,Please send me this deleivery no. EM[protected]IN status .

Customer care of sharekhan give no response after they pick phone, they say that ur call is transferring to other customer care executing and then they hold my call and never response till 1 hours of waiting .i was too tied of the services provided by sharekhan, why they take the service charge from us if they are unot able to proper service to us .

1. Can any global friend guide or make me understand the transaction protocol which wasn't done by me can be included in Bill summery of Sharekhan my account ID: 625714?
2. My keen close monitoring or observation of at least one month made me understand that I am not doing any trading even though I have done multiple transactions in a day with my account ID 625714 live screen provided by sharekhan user ID and password.
3. Also they have manipulated financially so finest way that the sharekhan prices are always lesser than NSE by Rs. 2/- to 5/- in per share. After that also they are showing separate Brokerage, service tax, transaction charge, some taxes are shown as debit charges to sharekhan, my simple question why are they required to manipulate the price list if they are cutting separately?
4. How our SEBI can allow registering that kind of broker to do open exploitation with the sentiment of the innocent poor traders? How our constitutional financial rules are allowing the company to do like that?
5. Why are the live screen shot of sharekhan ID and the summery dispatch to my email ID attached report of the bill summaries are not matching each other?
6. Why is the dispute of entra day trading settlement required two days to display the total day’s gain of loss? Why customer unable see the gain or loss same day after the end of the entra day trading?
7. After my experience doing trading with share khan witnessed me that I have not done any trading but for only gain of sharekhan not for myself.
8. All the debit charging protocols are used by the said company is as follows: Service Tax, STT, Stamp Charges, Turn Over Charges, DP Charges, Edu Cess and HEdu Cess.
Still after two years of trading under sharekhan I could not understand what are the meanings of the above all?
It means that the earning of customer is debited by the root of many ways as above for the hacking purposes. Moreover, one interesting point that whatever they are showing the credit also by negative marking i.e - 40609.13. My credit is shown nowhere clearly. All formulation should be easily understood by the customer, otherwise that only the big loop whole for hacking. Maximum customers do not know what they are doing actually?
9. Under the umbrella of broker they are openly exploiting and playing with the weakness of the innocent trader sentiment.