India Infoline Finance [IIFL] Complaints & Reviews

We called our relationship manager Mr. Amjad Khan and we just asked about the status of brokerage and that Guy started using abusive language. The terms he used we cant even mention here. Its really devastating. How ca anyone talk like this? That too to his customer. Please help.

The mail is regarding the non-payment of payout and mental harassment by IIFL. I want the payout for the month of dec to be realised right now. It is the fault of the company and client(VAIKUM90) has nothing personal against me. It is Gautam & Ramasharai who does not do their job on time & it results in problem. Very specifically client(VAIKUM90) has mentioned about them. Also, he has told them to come to his place to get the resolution. But instead their are satisfying their personal ego. Letter of NOC from the client is attached in the mail. If company does not do something, it is completely the mistake on companies part. Client email is attached in this mail. He has problem with the company and not from me. It is unfair on the company & on the part of all involved to stop the payout which should have been issued till now. Revenue not received is not from that id either. Neither the client has any problem with me or any of my employees. He shares a such a good relationship with me. The problem is with IIFL uneducated employees and their behaviour on phone. I am not responsible for such an act. Also it seems like "dadagiri" of IIFL, if one client has an issue with the company - it does not mean that company will stop the payout of Sub-broker for all other clients. This is like if I have 1000 clients & someone has an issue, you will stop the payout for the rest others. What the company is trying to prove!!! Are you saying "Hamari Man Mani hai, hum jo marzi kare". Independent case must be resolved independently. This proves the intent of the company wrong mindset and harassment. Plus I want to bring few point here: 1) IIFL system is so pathetic that you can't sell far off contract even for the same months 2) One cannot sqaure off the existing positions for the far month contract. What is the problem when someone wants to square off. 3) 90% of the times RM does not pick the phone and positive trades result in losses 4) Accounts sent or any update on account keep on lingering on for months. 5) Unethical calls are made to clients without asking me & client tell me that I got a call from your RM for doing insurance policy. 6) Their is no feedback mechanism for mail written to the company. No one bothers to respond. 7) In morning Ramasharai say this is the limit for the expiry - Client calls Gautam/Ramasharai and they do the trade. After 2 hours they say to square off inspite of position making profit. If they had to square off the position than why in the world the position was created. Ramasharai or Gautam should have said no. But in morning they create the position & than square off to earn brokerage unethically and making me & my client suffer. Mail from Client As per our discussion, we have no issues with our franchisee Mr Varun Agarwal with code FT221AP01. All the issues are with IIFL and its employees Ramashraya Rai and Gautam Sharma for indulging in unethical business practices resulting in financial loss along with a lot of mental harassment. All details have been correctly shared with the company. Our Franchisee for this account VAIKUM90 - Mr Varun Agarwal has no role in it whatsoever. Regards Vaibhav

Hi, I am a customer indiainfoline, the charges taken by them(Noida Branch Sector 63) against the brokerage was 100/lot Buy and 100/lot Sell for options, SEBI has now reduced the lot size to 25 of nifty, but these cheaters didn't reduce the brokerage they are still charging 100/lot buy 100/lot sell for a lot of 25, To make easy for beginners, if you buy 1000 put and sell the same then the brokerage would be 1000 put =1000/50= 20 Lots * (100+100)=4000 Rs if the lot size is 50 1000 put =1000/25= 40 Lots * (100+100)=8000 Rs if the lot size is 25 this they are doing to their existing customers charging 8000 against 4000 earlier per transaction, so please beware

Sir i have open a demat a/c in iifl arya kumar road branches in patna bihar in 2008. but that branch not running now so i m unable to see my a/c status and my transaction from last 4 years.and my mobile no also changed, my new mobile no is [protected]. My ID is SANTBEST but didn't password.so i m unable to done aosh kumarny transaction. kindly do the needful and resolve it quckly. Regards Santosh Kumar [protected]@yahoo.com

Dear Sir, My Bank A/c Dr by 45, 000 by check no. 940482 on Dt 23/12/2014 but not Cr in Ledger till now 27/12/2014. My id is manigup8. I ask to your branch manager lot of time but he is passing my time and not responding. Please look into this matter and make Cr entry in my A/c

I am holding life time free account with IIFL and paid Rs 555 for that but during the past few months charges of Rs 44 /- said to be deducted and sent at my email. This is very unethical for a reputed company like India India Infoline. This account was opened because of low AMC Charges. I request you to reverse the monthly AMC charges or credit my account for Rs 555/- which was charged at the time of opening the account. My customer ID is 1RAKEAGA.

i, I am holding Demat & Trading account from you since 2008. While the time of opening i have opted for 555 scheme for life time free maintenance (like AMC etc...). But for the last six months, Rs 45/- is debited in my account every month. They are not sticking to their words. In case, if my complaint is not resolved, I shall look for other alternatives. Even, they are not transferring funds to my account om the pretext that IFSC code is not updated. My customer ID MEENUAG9.

Hi, I am holding Demat & Trading account from you since 2010. While the time of opening i have opted for 555 scheme for life time free maintenance (like AMC etc...). But, from last 2-3 months(since Augt'2014) the AMC charges of Rs 44.94 has been deducted every month. This is too bad and unexpected behaviour from IIFL. As, you are not sticked to your words. If it continues, i may have to look for another option. You are requested to refund the AMC charges which is now deducted monthly. Hoping from positive response from you. My account details : Client Id:- APAL1979, NAME:-ARIJIT PAL.

I am holding life time free account with IIFL and paid Rs.555 for that but during the past few months charges of Rs.44 /- said to be deducted and sent at my email. I have already written e-mail at [protected]@indiainfoline.com on 19.11.2014 and again on 08.12.2014 but no response from them. It is unauthorized and arbitrary and against the terms and conditions agreed at the time of opting Rs.555 scheme. There has been no communication from IIFL regarding this deduction and suddenly they have started deducting on their own. And this becomes more pathetic when they don't bother on the e-mail sent to them and look into and keep sending e-mails from them. When it comes to getting a client they falsely represent the scheme and later start charging. If my issue is not resolved I may be forced to refer the matter to SEBI, the regulator. My Client id is : samirrah

I have a trading account since last year and at that time I was charged Rs. 555 for life-time free membership (i.e. No AMC charges in future) . But from last few months (Aug-2014) I am noticing that amount of Rs 45 per month was deducted from my account as monthly AMC charges. It is completely breach of agreement and the words from your side. Kindly stop this AMC for existing customers and arrange to refund /credit of it to my account at the earliest otherwise I will look for other option and to approach the appropriate authority. Waiting for a positive response from your side ClientID - YESMANIS

I was holding Andhra Bank shares and kept with me for a long time without selling. When I try to sell now, i was informed that already they sold out. How come it happened with out my notice? Also I have observed that there many transactions done like buying and selling shares with out my notice.This is not acceptable for a public organisation like IIFL.. I lost total 1.6Laks for this Unauthorized trading. I have requesting for my adress change since 3 years, even I personally visited IIFL office and submitted my request, But no action taken so far. My ID:anegonam and RM was Rajesh Gorantla Please do the need full and provide justice. Thanks,

I have a trading account since 2007 and at that time I was charged Rs. 555 for life-time free membership (i.e. No AMC charges in future) . But from last few months (Aug-2014) I am noticing that amount of Rs 45 per month was deducted from my account as monthly AMC charges. It is completely breach of agreement and the words from your side. Kindly stop this AMC for existing customers and arrange to refund /credit of it to my account at the earliest otherwise I will look for other option and to approach the appropriate authority. Waiting for a positive response from your side ClientID - PRACHI96 Name - Prachi Goel

I have a trading account since 2007 and at that time I was charged Rs. 555 for life-time free membership (i.e. No AMC charges in future) . But from last few months (Aug-2014) I am noticing that amount of Rs 45 per month was deducted from my account as monthly AMC charges. It is completely breach of agreement and the words from your side. Kindly stop this AMC for existing customers and arrange to refund /credit of it to my account at the earliest otherwise I will look for other option and to approach the appropriate authority. Waiting for a positive response from your side ClientID - SANDEE96 Name - Sandeep Goel

Dear sir, I am holding a Dmat & trading account since 28.06.2007. At the time of opening of account I have opted for the Rs. 555/- scheme for life time free maintaenance scheme( No AMC charges in future) . But from last few months I am noticing that amount of Rs 45 per month was deducted from my account as monthly AMC charges. This is breach of words from your side. Kindly arrange to refund /credit to my account at the earliest otherwise I will look for other option and to approach the appropriate authority. Hope for a positive response from your side. ClientId : SEEMRIZV Name : SEEMA RIZVI

HI, I am holding Dmat & Trading account from you last couple of years. While the time of opening i have opted for 555 scheme for life time free maintenance (like AMC etc...). But, from last 2-3 months the AMC charges of Rs 44 deducting every month. Will joining they told brokerage charges as 3ps for equity and 1ps for day trading and now they charaged 50ps for equity and 30ps for day trading. This is too bad and unexpected behaviour from IIFL. As, you are not sticked to your words. If it continues, i may have to look for another option. Hoping from +ve response from you. My account details : Client Id : CHPRIYAM. Thanks.

My mother had a demat account with them and they registered my email address as a point of contact. After an outstanding performance by the team, she discontinued the service. I went to there office atleast 5 times (2 times with my mother) and provided all the documents. They transferred all the shares; except one to the new account. They said they love the share so much that they cannot transfer it. I atleast told 15 times to take it and consider as a tip. But they love me so much that they don't want to close my account or stop sending emails to crap to me. Not sure how many times, i stopped counting now. I almost emailed all the ID's on the website but they love me so much that they still emails me. I don't know what to do. I tried unsubscribe tired calling emailing everything i can.

Dear sir I am yusuf shaikh clint id YUFARZ having an Account in india infoline pvt ltd I had Purchase a sundaram multi share 50, 000 quantity with a rate of Rs 1.95 and they have overcharged me with a 0.20 paisa brockrage on each Share. When i complaint about it they agree with the high brokrage they had charged and then reduced it to 0.5 paisa per share brokrage. But india infoline is refusing to revert me back the overcharged brockrage to my account and had theretened me sell my holding share on the market. As i had a balance cheque of 30, 000 on my account which i had not given because of this dispute. But i m ready to give the cheque at any point of time unless they return me back the overcharged brockrage amounting rs more then 10, 000 . I am ready with the cheque they should not sell my holding.

Sir I am open the account in your company in your agent (Mr Iswar Singh) on the year of 2009 and give the cheque of Rs60, 000/- He promise me, the company is given good growth after some year but last one back enquire through customer care the personal is not given proper response. Ask so many times then one personnel told me my account is only Rs20, 000/- is balance but my investment amount is very low. Kindly request to you where is my balance amount gone. Anuradha Kumari [protected] [protected]@gmail.com

Hi, My Login ID is "RPMODI15". I am IIFL customer for more than 6 years. I have opted IIFL because there were no AMC charges for lifetime if you pay 555 Rs. (Scheme run by IIFL at that time in 2008 ) As per the scheme, I have not charged any amount. but from last 2 days I was receiving automatic emails as my account balance went to debit. I write to customer care and they told me every month you have to Pay 40 Rs + Service Tax as a AMC charges. I replied, I have a lifetime free account with no AMC Charges. They told me rules are changed and now they have introduced AMC charges. I am thinking to file my case in Consumer court and if some one have the same situation let me know (to make our case stronger). They have cheated in the name of life time free account.

Dear Sir / Madam, I have opened my Demant account in your company of Rs.500/- for life time. But Now, you are charging AMC charges or other charges. ID MITTRAVI CONTACT NO [protected] Pl.do the needful. Thanks Ravin Mittal [protected]