Demat Account — Illegally charging of Demat maintenance fees even after giving Account closure form

Address:

Chennai, Bangalore

Hi,
Reliance securities has been charging AMC fees even after submitting the closure of demat account in 29th September 2020. Client code -: S00062733. After talking to the executive from last July 2020 they finally agreed to convert the account to a basic account which cannot be done for trading. This account has been idle for last 9 years with no transaction.

Below are the details of the latest email correspondence,

From: "Sujith k varghese"
Sent: Mon, 16 Nov 2020 10:50:14
To: "reliancesmartmoney.com", "santhosh.l.[protected]@relianceada.com"
Subject: Re: Helpdesk | CAS[protected]Z9R9Z5 : AccountRelated – Fund Transfer

Hi,
As discussed with Reliance security executive Avinash my account was decided to be turned into a basic account to avoid further charging of maintenance fee since I am not using this account for a long time. This conversation has been done 3 weeks ago in October 2020 still I have not received a confirmation to this. Still till date Reliance securities keep charging me maintenance fees which I consider to be illegal.

Need action on this asap,

Regards,
Sujith k varghese

From: "Sujith k varghese"
Sent: Tue, 29 Sep 2020 14:11:55
To: "reliancesmartmoney.com",
Subject: Re: Helpdesk | CAS[protected]Z9R9Z5 : AccountRelated – Fund Transfer

Hi Santhosh,
For your information, as a reliance securities relationship manager please do the needful,

Regards,
Sujith k varghese
santhosh.l.[protected]@relianceada.com

From: "Sujith k varghese"
Sent: Tue, 29 Sep 2020 14:08:56
To: "reliancesmartmoney.com"
Subject: Re: Helpdesk | CAS[protected]Z9R9Z5 : AccountRelated – Fund Transfer

Hi,
Please find the filled closure form along with this mail, As written in the form please sell all the existing shares and close the account. I have sent amount Rs.300/- to Reliance securities as suggested below to the account 9500S00062733. Transaction number is IRN3934738.

Regards,
Sujith k varghese
c

From: "reliancesmartmoney.com"
Sent: Thu, 24 Sep 2020 21:18:55
To: "SUJITH VARGHESE"
Subject: Helpdesk | CAS[protected]Z9R9Z5 : AccountRelated – Fund Transfer

Dear SUJITH K VARGHESE,

Thank you for giving us the opportunity to serve you.

As per your telephonic conversation with our customer service executive, dated 24/09/2020 your concerns regarding closure of account has been informed to you.

We request you to reconsider your decision to close your account with us. Being our valued customer, you have the opportunity to make the most of our offerings of almost all investment avenues like Mutual Funds, NCDs, Corporate FDs, insurance etc.; and advanced trading platforms, exclusive offers like Happy Hour, Free Call & Trade to name a few.

However, In case you still wish to close your Trading & Demat account with us, kindly follow the below steps: