India Infoline Finance [IIFL] Complaints & Reviews

I am writing this email after booking loss of nearly ONE LAKH rupees today due to negligence of my request by my RM and not getting any support from his colleagues when he was not in office. The reason :- It was very clear to me that my account is in debit of aprox 2 LAKH rupees on Thursday (24/07/2014) and for the same reason some of my positions have been square off on Friday (25/07/2014) and I booked some loss as well. On Friday my RM has purchased wrong stock in that I booked loss of 15K. I have reduced my position and sold some of stocks to make sure that my account should have enough amount so that my position (specifically for Voltas future) will not be square off by the risk department on Monday (28/07/2014). I asked the same to my relationship manager to check my account and let me know if my account is in debit of single rupee even if there is any difference I would transfer money into my account. He assured me that I have enough money and my positions as safe. On Saturday(26/072014) evening at around 7:30PM I have received a SMS that my account is in debit of aprox Rs 2 LAKH I was shocked and immediately dropped a SMS to my RM about the same. Since I have got the SMS on Saturday night I was not in position to transfer funds into my account before Monday morning. My RM gave me call on Monday morning, I requested him not to square off my positions automatically I will arrange the funds in my account by 11AM. He assured me that he has informed to his colleagues and they will inform to the Risk Department but again my positions have been squared off automatically. I am a small investor and have faced huge losses by the pathetic services of India Infoline Team and managers. How a share brokerage house can work that casually without taking responsibility of providing decent services even. They are concerned to just open an account with them and once they got the customer they are not at all looking at him/her about what kind of services they are providing. By far for me this is the WORST company in one of the most critical domain. DO NOT OPEN ACCOUNT WITH INDIA INFOLINE. THEY WILL EAT YOUR MONEY AND WILL NOT LISTEN TO YOU AT ALL.

Our Account with India Infoline Kolkata branch. Login Id: BIPLAB24. Now I want to close my account but my RM is not attending my phone call. Please arrange to close my account at the earliest. MAHUA CHOWDHURY BIPLAB CHOWDHURY

At the time of opening a demat account with IIFL, the executive had given me 2 options : Option 1 : Pay Rs. 25/month AMC Option 2 : Pay Rs. 600 AMC for LIFETIME Considering that I will have a long relationship with IIFL in future, I chose the second option and paid Rs. 600 for lifetime. After sometime, IIFL has revised the AMC charges for no reason whatsoever. When I tried to contact the relationship manager, as usual he did not know the reasons for the same. He told me that there was some SEBI circular which came up. When I told him to forward the SEBI circular, he revised his stand and told that this was an internal revision in charges done by IIFL. However, there is no basis for such revision, specially if I have already paid the amount of Rs. 600. I also wrote a mail to the customer care service centre. Needless to say that the customer care service centre of IIFL is for namesake only and they never respond to complaints/queries. I propose to discontinue the services with IIFL and would not recommend IIFL to anyone. Please do not open the account at IIFL. Please recommend me a good broking house wherein I can open my Demat account. Regards, Punit

I have an account with IIFL. I regularly invest in shares. When I checked my Ledger, I came to know that the account was debited with an interest of Rs. 2, 452 on delay in remittance of funds. I have not made any delay in remittance of funds. I tried to reach the Customer Care service, but no one is entertaining the calls. Very poor services. When I tried to reach my relationship manager, he has told me that a request has been raised and the issue will be resolved. But, the services provided by IIFL are pathetic. The relationship manager does not know how to talk to a client and has spoken rudley a couple of times . I had sent a mail to them regarding the behavior of the relationship manager. But least to say that IIFL has not responded. Pathetic services. Please do not go for IIFL. Regards, Punit

My name is Sekar from Madurai, applied an home loan of Rs.20, 00, 000/- to purchase a house at SS Colony. After receiveing all the doucments which mentioned by the sales person. They got signed in Photostated application form im very shocked that a very big company can't even print application forms. I have ask this to the sales person he told me that the reason was cost cutting.

On that day the sales person collected Rs.20, 000/- + tax as proc fees as cheque. After 4 days after several phone call the sales person attend the call and told me that your proc fees cheque has been presented for collection so pls put money in your account. While im speaking with him the time is 2.35pm. So i rushed to Axis Bank and with full of tension i deposited the money.

After one week the cheque has been collected. But I have not received any intimation or any reply from the company. After 2 weeks the sales person ask me to make some alterations in bank statement and in ITR's i denied to do it but the sales person done it individually and submit all the papers.

After these activity the sales person told me that one of their credit officer would visit my business place and the property. But nothing happened.

After two months i have got a reply that "YOUR FILE WAS REJECTED". I'm very much shocked and in person i went to their office and asked about the things but they simply told me that your file was rejected. After some arguments i asked to return the proc fees but they told it would not refund. After several hours of arguments they asked me to give a letter for refund i given the same. But no use of it.

I can't find out any reason for rejection of my file.

I have opened a Trading account on May 12, TRSHAMIL with a promise it is a lifetime free account. They have charged me Rs 1300 towards it and by May 20, 2014 i received an email that this account is chargeable at Rs 40+12.36% ST. I have been trying to reach their customer service number [protected] and [protected]@indiainfoline.com to get more clarity on the same. There is no response from the phone number or email ID. Such a poor service i strongly feel i have been misguided by the executive. Within 2 weeks india infoline (from May 12, 2014 to May 20, 2014) is changing the policy and the executive did not inform this change in the beginning. Now i am running from pillar to post to know if amount that is deducted will get refunded. When this refund will occur. To my surprise there is still no email from the CS department which i have sent on May 23, 2014

Dear Sir, I have invested with IIFL thinking my money would be safe. Application no:[protected]Jose) .However for the past 2 months I have requested for my money to be released to pay for my daughters college fees, now they cannot do it as they don't know which fund they have put in. How is this possible.?? For such a large corporation to loose track of a client money. I have phoned several times and transferred from one office to another without any help. How am I suppose to pay for her college?? How can you rob a child of education. Please urgently call me assist. ([protected]) or [protected] Await your reply Jose

This is about wrong trade made by RM/Dealer at Saket branch, now shifted to Lajpat Nagar. Dealer wrongly took the delivery and did not confirm the same. Loss of Rs. 12500/- occurred in two trades in 2 different dates. The details are with the RM/dealer. Complained several times, only Rs.1500 paid by the Dealer.now saying to put complaint to IIFL. Request to do the needful. Client ID DALACHAT

Hi, I am Kishore from Kolkata, My complain regarding India Infoline Ltd. I have subscribed for a VAS service in IIFL on August of 2013, i.e. upto one year my broking charges will be refunded on the transaction date. After subscribing always IIFL has refunded the brokerage on the same day of transaction except one day i.e. 12-March-2014. On that day I made a transaction of Rs.1462.11, but IIFL does not reversed the VAS charges for that day only. After that transaction on every transaction, they have reversed the VAS charges till now. So generated a ticket over web portal 3-4 times, but always I find one sentence reply that they have transferred the case to relevant department, and they will reply me soon, and without resolving the issue they just closes the ticket. Later I mailed to their Customer Care service, there also I got one sentence reply "We have send the issue to relevant department and they will resolve it". After that I mailed two times to their Compliance Officer, Customer Grievances and DP Grievances. But till now nothing happened, just my RM call me and said he is sending the mails to relevant department. I don't understand, which department is dealing with such issues. I think IIFL should close that department if they could not resolve a small mistake within two months. I will request IIFL to make sure that their customer care should care client's mails, reply properly. Until resolving the issue, they should not close a ticket and a ticket should be closed by Customer not by IIFL Customer care person. Thanks Kishore

Sir, Its regretted to state that a heavy Charge of Rs. 500/- debited in my A/c No.- SUDH1969 as on 13.09.2013 on account of Cheque dishonoured due to mismatch of my signature. The Charges you have debited in my above account is very huge. In meantime no banks in india has been taking such as heavy charges against dishonour of cheque due to mis-match of signatures. I, request you to please take a necessary steps to reduce such heavy bank charges up to a level of reasonable justification. Thanking You Yours faithfully, (SUDHIR KUMAR) A/c No. - SUDH1969 Mob. No.- [protected]

Sir we deducted tds on interest on loan rs.225710/- up to 31.12.2013 and we submitted the form no.16a at your jaipur branch office many time. But till date we are not recd any amount regarding tds. Sir we contact mr. Suresh, mr. Atul and mr rahul further we mailed 3 time on [protected]@indiainfoline.com but no response at your end . Sir mr rahul and mr suresh dont pick my calls last 3 days so we think its example of your poor service.


And last we requested to you look in to the matter seriously and resolved this matter urgently

Your truly
For akashardham coloniesers and developers private limited

Gautam kumar (A/r)
Mob. No. - [protected]
Mail- [protected]@yahoo.Com

I am being debited so called AMC charges by India Infoline of INR 25 per month without my knowledge. When questioned they are adamant to continue the charges and are also not ready to close my account with online application stating that I need to personally come to close the account. I am not in India and they are happily debiting my account regularly with INR 25 per month. Please find below some of the mail chain between me and the company: ________________________________________________________________________________...⇄ Mail from company dated 24.01.2014 Dear Sir, As per prescribed process we can process closure only once we receive hard-copy of same ! Request you to kindly provide the required in order to process your request. [protected]Original Message[protected] From: s.vinit.[protected]@gmail.com To: [protected]@indiainfoline.com CC: nalin.[protected]@indiainfoline.com Subject: Re: Re : Debit Balance in my account (Case ID:[protected]Case ID:[protected]Case ID:[protected]Case ID:[protected] Dear As mentioned earlier, I am not in India. Pls do.it based on the scan docs. The docs have been mailed to you from the registered email id and the signatures is as per record. Also balance is being transferred to registered bank account. So i dont see any concern with that. I dont want to waste any more money by dealing with IIFL who very conveniently had been debiting charges. Regards, Vinit On Jan 23, 2014 12:48 PM, "CS" <[protected]@indiainfoline.com> wrote: Dear Sir, As mentioned in earlier mail request to send the required documents on below mentioned address as we can not process the account closure on Scan image basis, Will communicate the account closure TAT as required, once we receive the Hard Copy of closure letter & Self signed copy of PAN Card. Thanks & Regards Nalin Srivastava Associate Vice President (Banking Alliances) India Infoline Ltd, New Delhi. 310, 3rd floor, Ashoka Estate, Barakhamba Road, C.P. New Delhi- 110001 +91 [protected] [protected]Original Message[protected] From: s.vinit.[protected]@gmail.com To: [protected]@indiainfoline.com, nalin.[protected]@indiainfoline.com CC: hareesha.[protected]@yesbank.in Subject: Re: Re : Debit Balance in my account (Case ID:[protected]Case ID:[protected]Case ID:[protected] Dear Pls find attached my account cancellation request and self signed copy of PAN. Please close and confirm. Please share the TAT for account closure. Also as mentioned in the reason column in the account closure request form, i will be contesting these charges in the consumer court with the details of each and every email as supporting docs. Regards, Vinit On Jan 22, 2014 12:33 PM, "CS" <[protected]@indiainfoline.com> wrote: Dear Sir, We are unable to reverse the charges as its Depository charges, however as mentioned earlier if you wish we can start 555 Lifetime DP AMC plan in your account provided you send the signed format for same as shared earlier, However we request you to continue your account with us, but as asked by you I am sharing account closure letter Which you can send to us along with a self signed copy of your PAN Card. Thanks & Regards Nalin Srivastava Associate Vice President (Banking Alliances) India Infoline Ltd, New Delhi. 310, 3rd floor, Ashoka Estate, Barakhamba Road, C.P. New Delhi- 110001 +91 [protected] [protected]Original Message[protected] From: s.vinit.[protected]@gmail.com To: [protected]@indiainfoline.com, nalin.[protected]@indiainfoline.com Subject: Re: Re : Debit Balance in my account (Case ID:[protected]Case ID:[protected] Just let me know if you are going to take ages to revert to my queries. Regards, Vinit On Jan 13, 2014 7:52 PM, "Vinit Saraogi" <s.vinit.[protected]@gmail.com> wrote: Dear Nalin, Awaiting response. Regards, Vinit On Jan 10, 2014 3:04 PM, "Vinit Saraogi" <s.vinit.[protected]@gmail.com> wrote: Dear Nalin, In that case, all I can say is that your sales rep makes false promises while opening the account, take the cheque and go away without doing anything about it. Nevertheless, tell me if: 1) 555 plan can be activated from the date of opening the account given that your sales rep never informed us about it. 2) Else, pls share the account closure form. I do not intend to continue anymore. You tried reaching me on my registered number but probably now when I am complaining about debit balance & when I am not in India. But till mid 2013, i was in India and i never got any call from anyone from your company. Nevertheless forget it. Dear Hareesha, FYI. Regards, Vinit On Jan 10, 2014 1:35 PM, "CS" <[protected]@indiainfoline.com> wrote: Dear Sir, I seriously apologies once again for inconvenience faced, need to clarify on some points as below: 1.) Account opening fee was waived off in your account as you were Yes bank employee at the time of account opening and not because you have provided 10K initial margin, (10K Value addition plan was never activated in your account which can be taken by client to reduce the brokerages in account and take account opening waiver, that's a advance brokerage plan.) 2.) Even if you open account with any other depository everyone will charge you DP-AMC unless and until you get some privileged approvals on same. even if you compare our 555 AMC plan is most competitive in market, and both Normal plan & 555 plans were clearly reflecting in our account opening forms (Not hidden). 3.) Virendra Kashyap your RM was in touch with you and you were trading online, as he left IIFL your account got mapped to me directly, if you want a dedicated RM, please confirm that can be mapped. we try to reach you on your registered in our records but that is out of service, request to please sign the enclosed form and send us to update the new number to avoid such communication gap in future. We always make efforts to make our clients satisfied with set industry service standards, please feel free to be touch with us for any issue. Thanks & Regards Nalin Srivastava Associate Vice President (Banking Alliances) India Infoline Ltd, New Delhi. 310, 3rd floor, Ashoka Estate, Barakhamba Road, C.P. New Delhi- 110001 +91 [protected] [protected]Original Message[protected] From: s.vinit.[protected]@gmail.com To: [protected]@indiainfoline.com, nalin.[protected]@indiainfoline.com CC: [protected]@gmail.com Subject: Re: Re : Debit Balance in my account (Case ID:[protected] Dear Nalin, Thanks for sparing out time to send such a big email. However, please let me know in few simple words the following: 1) Account opening fees was no freebie provided to me. As was informed to me by your sales rep, this was part of the plan wherein I had to deposit 10K in the account at the time of opening the account and there will not be any Account opening charges. So, IIFL has not done anything for which I should be grateful about. 2) About the AMC charges - Why wasn't I informed of such charges at the time of opening the account. Please share the document which states that there will be AMC charges per month which I have to pay. May be in the bulk of documents you get signed from customers more for confusing them then to guide them, you must have mention it hidden somewhere. 3) 555 plan - How am I expected to know about this when your sales rep doesn't even bothered to inform me of such a plan. However, had he informed that there are such charges, I would not have opened my account with IIFL in the first place. 4) You are my RM. Right ? Tell me, how many times have to contacted me. Is this how RMs in IIFL work where the RMs doesn't even talk to the account holders for ages. 5) Going by your words, I am sure, you are not going to do anything about it, so as a kind gesture from my end, I will For a start, inform all my friends, relatives of this malpractice being followed by IIFL. Complain to the regulatory body to bring your company to task. CC: Dear Hareesha, Please be guided by the mails. Close your account with IIFL at the earliest since they are debiting charges which we were never informed about when we opened the account. Also, send a mail internally to all our YES BANK colleagues so that even they close their accounts with IIFL. I am sure, no one was informed about these charges at the time of opening the account. Regards, Vinit On Wed, Jan 8, 2014 at 2:04 PM, CS <[protected]@indiainfoline.com> wrote: Dear Sir, Further to your concern regarding DP AMC charges deducted from your account, we would like to confirm that at the time of account opening process the waiver was given for Account opening fee of Rs.750, which was never charged in your account. Also the DP maintenance (AMC) has to be debited on monthly basis and as I have seen in your ledger from 2011 every month your account has been charged with same along with other normal DP charges, in last few months as you have not traded in account only AMC is getting deducted. Further to avoid such monthly AMC, I am sending a charge sheet to you enclosed with this mail, request you to please sign and send the same to us so that we can change the AMC plan, In new plan we will charge Rs 555 upfront and will never charge any monthly AMC for lifetime. I apologies that we are unable to call you on your international number please feel free to be in touch with us. Thanks & Regards Nalin Srivastava Associate Vice President (Banking Alliances) India Infoline Ltd, New Delhi. 310, 3rd floor, Ashoka Estate, Barakhamba Road, C.P. New Delhi- 110001 +91 [protected] ________________________________________________________________________________...⇄ I was not even informed of such a charge and also the company is not ready to accept my request of closure from my registered email id. They are taking advantage of the fact that I am not in India and hence they are happily debited my account with the charges each month. Please help.

I was applied for IIFL-NCD in the month of Nov’2013 wide application no. 29471067 of Rs./-and my folio is generate with Folio no./ DP No. 005503. Same time NCD Certificate was dispatch wide postal speed post no. EA[protected]IN to my address mention below: But still I not received the same article. After putting all my best effort to chase with postal dept. I am unable to get my original NCD certificate from last 3 months.(Postal POD attached for your reference) Hence i am unable to got any result in this issue. Nasir Kazi Mumbai

My name is mohit nandwani my father was working with your hirabaugh branch in surat gujrat as branch manager his name was krishan kumar Nandwani his employe code is A169025 he died in a road accident on 19th july while going to work in the morning i have sumitted his Death certificate fir copy autopsy report my mother id adress prof to your surat area manager somasekhar kothapalli through his secetry mumtaz kashmiri in your surat citilight Branch it Has been five months and still ijave not recived any reply from u plz tell me about the status of my father death cliam insurance as it was told to me by your area manager that our hr department has a policy for india infoline employes

Hi, I have applied for home loan around a month back and I have not received any update on it yet. My verification has been completed 3 weeks back and My office, Current residence and Property which I am trying to buy has been verified and status mentioned as OK in all. My CIBIL account is also fine. However I have been told that my father who is a co-applicant, his cibil account has some issue. Detail of account fault of my Father in CIBIL is not cleared. I kept asking for the information and still no information has been provided yet. I will be paying the loan not my father. Everything has been verified and my account details, property everything is fine still no update from IIFL on this. Property for which I applied home loan is in: SHAM NAGAR NEW DELHI - 110018 contact me @ himanshu.s.[protected]@gmail.com

sir, i am CHANDRAKANT DATTATRAYA MANAGUTTE, PAN NO. AHDPM2224L, DPID- [protected] ACTUALLY MY Appliction No. 60054951 pe " VASANT MARUTI CHAVAN, PAN NO. ADMPC4754C, DP ID- IN[protected]" DATA PUNCHING HO GAYA HAI AUR REFUND BHI UNKO HI HO GAYA HAI. YE BAAT MAIN BAR-BAR IIFL LOCAL OFFICE JA KAR KAH DI HAI PER KOI SERIOUS LETA NAHI HAI. [ VASANT MARUTI CHAVAN NE BHI APPLI. NO. 60057569 RS. 100000/- APPLICATION KIYA THA ] Refund Order (RO) No. 102106 drawn on ICICI for Rs. 10000 was dispatched on 04/10/2013 by Speed Post no.EA[protected]IN to the address given below : SWAMI SAMARTHA VIHAR, , 74, VAIBHAV HOUSING SOCIETY, BEHIND SHAHU NAKA, UJALAIWADI, , KOLHAPUR, 416004 I HAVE email to - sushma.[protected]@linkintime.co.in, [protected]@indiainfoline.com, sangli.shubham.[protected]@indiainfoline.com but not responded to me above matter so please kind help me C D Mangutte, [protected], [protected]@gmail.com Vishrambag, Sangli 416415.

Sir, i am CHANDRAKANT DATTATRAYA MANAGUTTE, PAN NO. AHDPM2224L, DPID- [protected] apply to NCD-III Bond for Rs.10000/- & My Application No.60054951 Cheque No.580511 Dt. 21/09/2013, my application rejected, As per allotment status shown on linkintime site, for application no.60054951 the allotment is given to some other person, "VASANT MARUTI CHAVAN " and no records is shown with my details.but rejected refundable amount paid to " VASANT MARUTI CHAVAN, PAN NO. ADMPC4754C, DP ID- IN[protected]" Refund Order (RO) No. 102106 drawn on ICICI for Rs. 10000 was dispatched on 04/10/2013 by Speed Post no.EA[protected]IN to the address given below : SWAMI SAMARTHA VIHAR, , 74, VAIBHAV HOUSING SOCIETY, BEHIND SHAHU NAKA, UJALAIWADI, , KOLHAPUR, 416004 SEBI complete Registration Number(s) : SEBIE/MH13/0014669/1 I have many time contact to regional office vie emailsushma.[protected]@linkintime.co.in, [protected]@indiainfoline.com, sangli.shubham.[protected]@indiainfoline.com, but not response to me. so please help to me. C D Mangutte, [protected] [protected]@gmail.com Vishrambag, Sangli (Maharashtra) 416415.

Sub: This is regarding to my PF which is due till date.

I was an employee of India Infoline Ltd. at Baroda, Gujarat branch. My PF no. MH / 93462 / 2041.

Please do the needful as I have been suffering for this PF from so long.

I had received the cheque but unfortunately my Axis Bank A/c was been closed in december, 08, and even-though I had given all the bank details of my current Bank, the cheque has been sent to Axis Bank which has been bounced.

Now, I am forwarding you the copies which was sent to me. Wish to hear from you at the earliest. Please do the needful. Do let me know if you need anymore details or information from my end.

Dear Sir, Myself Subhash Yadav having account in IIFL is TNSP1007 and I have requested IIFL team to close my account and transfer my balance.I have follow their procedure and send hardcopy to them but after a week I got a message that we can not proceed further due to signature mismatch. This signature I used in my daily transaction but I never got such response from any side, then again I have sent the account closing form through my registered Mail ID and also attached my signature samples. After following a lots they are considering it and same story they are repeating it that signature are not matching it. Please help me sir in this regards, Thanks & Regards Subhash [protected]

Dear sir, I applied to open a new demat and trading account in iifl. I have given all required documents & cheque as required & also verified by BM date was 12/9/13 and he commited me that ur account will be active max to max in 7 days but today is 19 and there is not a singal activity done even i didnt recieved any verification call from iifl when i ask to BM what happened he said company persons were busy in something so u will have to wait for another one week i called to toll free no. The person who picked the phone told me this is mutual funds no. I asked to give me equity no. He told me i dont have!! Is this the customer service? Market is on good momentum but im unable to trade who will bear this loss? I was intrested in sharekhan but one of my friend suggested me iifl so i went for that now im doughtfull if this is the service at start point what will be next!!!