India Infoline Finance [IIFL] — Buying and Selling securities only to keep my account active and charging fees

Address: No 11, Ground Floor, Admas Chamber, Richmond Rd, Bengaluru, Karnataka 560025

Hi Sir, I hold IIFL securities account (User SRINK467) from long time and i stopped buying any shares because they sold shares on their own and settled their fees even without calling me. These days, they are buying a share (1 share) for Rs 20- Rs30 even though i dont have any funds in the account. I never called or asked them to buy or sell these shares. Just to keep my account active, they are doing this and charging me fees. Now it is negative -Rs 800. They have been doing this. This is highly unethical to maintain account even if there is no request from my side. I can close the account but why should it be active without my authorization. These are very manipulative tactics to earn fees which is not good. They should waive the fees and close the account as i have never placed an order for any of these securities.
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India Infoline Finance [IIFL] customer support has been notified about the posted complaint.
May 22, 2025
Updated by Srinivas Korelapara
Thank you. But the issue is not resolved. I still receive messages twice or thrice daily to pay and renew the account. The negative balance is not closed.
 
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