India Infoline Finance [IIFL] Complaints & Reviews

I have submitted on 23rd May 2011, 2 certificates comprising 200 shares of EPC Irrigation for demat to India Infoline franchisee in Kolkata at A J C Bose Road. Folio no -A04764. Certificate no. 4623 and 4624.

A month passed. On enquiring from the franchisee, I was informed that the demat request got rejected because there was some mistake in noting ISIN and the certificates were being couriered to me.

Not receiving the certificates , I rang up the company registrar M/s Sharepro Services in Mumbai . To my astonishment Sharepro informed that they have not received the certificates at all! In fact they called back separately to inform abuot its non receipt.

This information I shared with customer service of IIFL through repeated emails and telephones. They remain indifferent and refuse to give contact nos of senior management like Venkataraman.

Recently I have referred this problem to NSDL and awaiting their action.

Presently the stock is quoting high, but I cannot sell it. It seems the certificates are still lying with IIFL. Kindly help.

I HAVE OPENED AN ACCOUNT WITH INDIA INFOLINE LTD ON 21.07.2010 AMOUNT OF RS. 20,000/.ON SAME DAY FROM THE CHQ. OF ICICI BANK LTD. LAJPAT NAGAR BRANCH THEY HAD BOUGHT AND SOLD MANY SHARES, CALLS AND PUTS OF MANY COMPANIES MEAN WHILE MR. SUMIT AGGARWAL MADE SOME TRANSACTIONS IN MY ACCOUNT WITHOUT MY KNOWLEDGE .I VISITED THEIR OFFICE MANY TIMES AND MET HIS SENIOR OFFICER MR. SACHIN AGGARWAL & SANDEEP SINGH AND TELL MY GRIEVANCES .I FOUND THERE WAS DEBIT BALANCE IN MY ACCOUNT SO I HAVE DEPOSITED RS.20,000/-

MR. SUMIT TOLD ME THAT YOUR ACCOUNT WAS DEBIT BALANCE SO I WAS GIVEN CHEQUES. OF ICICI BANK LTD. AND SYNDICATE BANK MANY TIMES AROUND RS. 1, 08,000/- TO HIM. BUT I HAD NOT RECEIVED ANY HARD COPY FROM INDIA INFOLINE LIMITED REGARDING MY TRADING ACCOUNT. I HAD BEEN TO THEIR OFFICE TO COLLECT THE STATEMENT OF ACCOUNT ON 27.05.2011.THEN I FOUND ILLEGAL TRADING AND UNATHORISED TRADING IN MY ACCOUNT WITHOUT MY CONSENT.

MR.SANDEEP SINGH (THE SALES MANAGER) AND MR. SUMIT AGGARWAL (THE RELATIONSHIP MANAGER) ACTS AS IF THE MONEY BELONGS TO BOTH OF THEM.

WHEN THE MARKET WAS TUMBLING HE (SUMIT) TRADED IN
F& O AND IN THE PROCESS I HAVE LOST ABOVE RS.55, 000/.

NOW MR. SANDEEP SAYS IF YOU ARE NOT SATISFIED FROM OUR SERVICES YOU CAN COMPLAINT IN OUR CUSTOMER CARE SERVICES. THEY TREATING ME AS IF I AM BEGGING THE AMOUNT. TILL DATE THEY ARE NOT WILLING TO SETTLE NEITHER THE AMOUNT NOR GIVING PROPER REPLY.

I PRESUME THAT THE COMPANY DOING FRAUDULENT
TRANSACTIONS WITH PUBLIC MONEY AND EARNING BROKERAGE AND CHEATING THE PUBLIC.

NOW I AM 28 YEARS AND WORKING IN PRIVATE FIRM AND I HAVE A BIG FAMILY AND I CAN NOT SUSTAIN THE LOSS BY THIS WAY OF DEALING BY THE COMPANY.

MANOJ KUMAR SHARMA
(AS000823)

Dear sir
IIFL have sold my share without my permission even though my cheque was cleared the details are as follows cheque(No.041761) of Rs 45000 of central bank of India dated 01/11/2010 was debited from my account on 3/11/2010. According to my IIFL ledger my account was credit with Rs 7872.14 on dated 11/11/2010 and after that on date 12/11/2010 my account was debited with Rs 25818.83 but on 15/11/2010 the share of Rs 71281.24 was square off from my account without my permission due to this trade i was in loss of Rs 17018.36 whose detail is attach along this mail i have made compliant about this to IIFL branch office and head office but did not get any satisfactory answer i request you to solve my issue as soon as possible please send me your e-mail address on which i can send you all documents as proof

Dear sir/madam

my name is umang gupta,i was working india info line ltd noida.i resigned on 25/4/2011 ang my employee code was A-117412.but till date i didnot received my salary.and i did contact with hr they didnot rply and my reporting manager told me that my salary will not release.and they stop my salary.please take some action against the company and release my salary as soon as posible.



regards
umang gupta
[protected]

I hold a DP account with indiainfoline , Irinjalakuda branch,kerala and when i found they were trading in shares without my authorization i stopped my investment.Recently i wanted to transfer my shares to another DP account.When the DIS slip was sent they refused it saying the signature was not matching with what they have on their records.A second discharge slip was sent and that was again 'signature mismatch'.I am convinced this is India's top most fraud share broker company and let every one be careful in dealing with this cheats who are trying to hold our money.Do not open a demat account with this pure cheats and SEBI should cancel their license

i reena kapoor have a dmat with india infoline (model town )branch,i came to know that one of his employee made an illegal trading in my account without my consent or permission
i already give them all details and they didn,t confirm any trade while trading in my account, its a case of forgery, i want help in this matter.

I started a currency trading account with Indiainfoline,Chennai with an initial payment of Rs10000/ towards deposit,during March2011.Even though I was not provided with any client masters report for my currency trading account,I was provided with a set of passwords with instructions to use the NOW ONLINE software for trading.But as the passwords provided were ether found invalid or user account locked,I could not open the log in pages at all.During the past 3 months my passwords have been reset more than 10 times and none of them seem to work.I tried sort out this issue,by sending emails to their helpdesk,customer service as well the customer grievance service.While most of mails remain undelivered due to their refusal to entertain such mails.Few mails were given a routine response with a ticket no.I was driven from pillar to post to get this issue fixed up,but of no avail.Fed up and getting frustrated,I requested them to close my account for settlement on which there has been no response at all.I will be thankful if I am advised as to what should be done to get my account closed.

Dear sir
i would like to state that IIFL has sold my shares without my permission even though my cheque was cleared the details are as follows
cheque(No.041761) of Rs 45000 of central bank of India dated 01/11/2010 was debited from my account on 3/11/2010. according to my ledger my account was debit with Rs 25818.83 on dated 12/11/2010 but on 15/11/2010 the share of Rs 71281.24 was square off from my account without my permission so please provide me detail explanation for this action i have also informed in his Raxaul branch but no any satisfactory response was given to me please help me to resolve this matter as soon as possible
waiting for your reply

To,
Team Lease

I have earn a bonus and comm. of rs 35,000/-, excluding 5000/- spif,on the month of March 2011, and in comm file also it shows the same but i have just recieved the amt of 31,265/-. so what about the rest.

So, plz check it, and send me the clear status of the same. So, that i dont disappoint with your services.

SIR ,
I HAD MY ACCT NO 550JORAT & BO ID 12313563 WITH INDIA INFOLINE LTD AT JORHAT .NOW I AM TRANSFERRED TO UTTARAKHAND AND NOT GETTING MY 1000/- RUPEES EVEN AFTER CLOSING MY ACCOUNT SINCE ONE YEAR .PL HELP ME TO GET MY MONEY BACK.
WITH WARM REGARDS
ARVIND KUMAR
MY ADD-
ARVIND KUMAR
1 UK AIR SQN NCC
GB PANT AGRI & TECH UNIVERSITY
PANTNAGAR,DIST-U.S NAGAR
UTTARAKHAND-263145
MOB-[protected]

I AM VERY UPSAT WITH IIL CUSTOMER SERVICE.

MY ID IS HENAQ786 AND MY RM IS MR.SUGANDH GUPTA ([protected]).
I HAVE CLOSED MY AXIS ACCOUNT NO WHICH IS REGISTERED WITH YOU.
NOW I HAVE CHANGE MY ACCOUNT NO WITH AXIS BANK.
I HAVE GIVEN MY NEW ACCOUNT NO DETAILS WITH A CANCEL CHECK OF MY NEW ACCOUNT TO SUGANDH GUPTA 2 MONTHS BACK
BUT TILL TODAY MY NEW ACCOUNT HAS NOT BEEN UPDATED IN MY TRADE ACCOUNT.
I HAVE CALLED MANY TIMES TO SUGANDH BUT EVERY TIME I GOT NEW EXCUSE FROM HIM BUT NO SOLUTION.

Hi

I had submitted my documents for brokerage account opening on around 20th March. I had also submitted a copy of my salary slip to my Relationship Manager Mr. Mukund Khanore on 31st March 2011 (which is required for Futures & Options trading account activation). It has been more than a month and the account has not been activated yet. I had spoken to the customer service helpline and they said mail the documents to IIFL office at Chennai which I did on April 15th or so. However they have still not activated my account . Every day they keep on passing the case from one agent to another and tell me we would get back. This whole bureaucratic behaviour has been extremely frustrating and painful.

Also my Relationship manager had told me that the brokerage charges for F&O trading would be 50 per lot however they are still charging me 100 Rs per lot . The excess money was supposed to be reversed in my account but its been a month and it has not been reversed. The customer care executives tell me to talk to my RM and my RM tells me to get in touch with the customer service.

This whole thing has been frustrating and I would be considering closing my account with them. But since I have a lot of open positions I cant before closing them on a decent note.

Please help me get justice in this case

Dear Sir/ Madam,

This is complaint against the above stated company, who is holding my demat account as well as trading account and the only information provided by the company is ID-RENUJA94.

The brief of my complaint is Mr.Lalit Sharma ,who was working with ICICI bank pursued me to open account with ICICI Bank with Demat number [protected]DP ID-IN302902) and shares from physical form converted to demat.

Thereafter above stated Mr. Lalit Sharma , who was aware of my holding on his joining Indiainfoline under coercion /undue influence with the object of cheating requested/pursued me to open trading account with Indiainfoline and got signed bunch of papers including instructionslips of ICICI Bank demat account for share transfer to INDIAINFOLINE.(The contents I am till date not aware of)

Even instruction slip for transfer from ICICI Bank was filled up by him or his associates in planning to cheat me on there own without my consent and all leafs signed / forged lying with Mr. Lalit Sharma.

Because of above bungling ,they transferred following shares to indiainfoline account without my consent:-
1.Aditya Birla Nuvo Limited - 139 shares
2. Ashok Leyland Limited - 500 shares
3. Automotive Axles Limited - 50 shares
4. Deepak Fertilizers and Petrochemicals. - 100 shares
5. Finolex Cables Limited (face value Rs.2/-) - 1800 Shares
6. Finolex Cables Limited (face value Rs.2/-) - 1800 shares
7. Finolex Indust - 150 shares
8. Glaxosmithkline - 122 shares
9. Grasim Industries Limited - 36 shares
10. HCL Technologies Limited (face value Rs.2/-) - 166 shares
11. JCT Limited - 150 shares
12. Rain Commodities - 371 shares
13. Reliance Industries Limited - 40 shares
14. Reliance Communications Limited - 20 shares
15. Reliance Natural Resources Limited - 20 shares
16. Sterlite Inds (face value Rs.2/-) - 810 shares
17. Sterlite Technologies Limited (face value Rs.5/-) - 81 shares
18. Sterlite Technologies Limited (face value Rs.2/-) - 405 shares
19. TATA Elxsi - 100 shares
20. Universal Office Automation Limited.

After this he was asking me to confirm if the trade confirmation call comes to my Mobile( MTNL), Which was disconnected on 21st May 2010 for about 20 days,by someone by forging my signature, but Indiainfoline records shows confirmation during this period also.


Beside this on 14th May 2010(it could be some near Date also), I made one call to them to stop trading in my account and no operation from my demat account, which was also confirmed by the Assistant Vice president of Indiainfoline Mr. Ashish Gulshan on checking with there records on 25/02/2011..

After this Mid January 2011, when I enquired about my holding to my surprise , i was informed of the trading in my account and my balance was nil in demat account.

The account was opened on 19/02/2010 and confirmation and kits were never given by the company Indiainfloline. Even as on today , I am not aware of my demat number with Indiainfoline.

During my visit on 25/02/2011 the copy of one consent /authority slip (forged)Date 20/08/2010 was given ,which was bearing fake signature of mine authorising my son with his signatures, are also fake beside he was not in town . Signatures of witness /there address given on the above slip was fake.(Copy of the same enclosed with objection remarks)

I hereby request you to please take cognizance of violation of depository account rules after 14th May 2010 as any withdrawl from my depository account without my instructions and every instructions containing in the form which ,I made to sign at the time of opening ,is null and void.

Further any trading after my instruction on 14th MAY, 2010 should not be booked to my account and necessary action may please be taken for cheating done by Mr. Lalit Sharma (Regional Manager , Indiainfoline), his associates and company also.

Thanks and Regards


RENU JAIN
FLAT NO. 403. PLOT NO. 17, SECTOR-10, DWARKA
NEW DELHI-110075
30/03/2011

The Enclosed files truth are:

1.PULKIT JAIN was out of town on that date proof of the same can be furnished.
2.Signature of Renu Jain is forged.
3.No such witness exist/existed on the address given and not known to account holder Renu jain.
4.RENU JAIN the account holder never signed the above document.
5. The society in which we are living is maintain the record and as per that the above stated Mr. Lalit Sharma last visited on 11/07/2011

I WAS TRADING WELL WITH VENTURA BUT ONE OF THE EMPLOYEE WHO SHIFT FROM VENTURA TO INDIA INFOLINE CONTACTED ME FOR OPENING A NEW ACCOUNT WITH INDIA INFOLINE BY SAYING THAT YOU WILL CHARGE LOW BROKARGE, BUT THEY OPENED MY ACCOUNT AND I PAID RS. 10000/- AS MARGIN MONEY BUT I SEE TO SURPRISE THAT COMPANY DEDUCATED RS. 5000/- TAXES FROM MY MARGIN ACCOUNT WITHOUT MAKING ANY TRADE,BY SAYING VALE ADDED SERVICES.WHICH ARE NONE.THIS CHEATING FRAUD WITH CUSTMER. SO I REQUEST ALL OF YOU DONT TRADE WITH INDIA INFOLINE.

INIDA INFOLINE FRANCHISEE RUNNED BY SUJIT KUMAR A BIG CHEATER AND MR RAMA SHANKAR SINGH THE 2ND CHEATER ARE DOING ONLINE TRADING OF THEIR CLENTS WITHOUT INTIMATING THE CLIENT.I M RINOSHITA JUNEJA OF DELHI HAD OPEND AN ACCOUNT WITH THEM ,THEY CHEATED ME BY SAYING THAT MY IS .3% WHERE IT WAS 5%.THEY BOUGHT SEVERAL SHARES IN MY ACCONT ONLY TO GENERATE REVINUE.

INDIA INFOLINE IS ALSO SUPPORTING IT AS THEY ARE NOT TAKING APPRECIABLE ACTION AGAINST HIM.

IT SHOWS COMPANY LIKE INDIA INFOLINE IS ASLO NEED CHEATERS TO DO THEIR BUSINESS.

Hello Sir/Madam,
I am Mayank Bajaj,my NCFM ID is Still going on in ur Company,neither i
would not get any payout o[censored]r side neither deactivate this id,please
deactivate this id as soon as possible, i have send many of these type mail to hr.indiainfoline.com,[protected]@indiainfoline.com,[protected]@5pmail.comKindly find the attachment-:


Thanks & Regards
mayank bajaj
([protected])

Dear Team,

I got the acknowledgement before 40days,but still i didn't get my PF amount,What is the status even i called PF office also but there is no response.

Pls take this as priority and do the needful without delay.

This is the second time i am following for PF even i have sent my first PF cliam 8 months back,but still no response from your end,Kindly let me whether my PF amount is processed or not.

DEAR SIR,

I Informing u some walky's display unkown number to some incomming calls those walky numbers are
([protected],[protected],[protected],[protected],[protected]) so pls do as well as posible



thanks&regards,
k.rahul bhushan
admin manager,
india infoline ,
tenali

I m a empy of IIFL ........shame on their policy of salary & incentive.......Already 3 months have been passed and still I have not received my old pending incentive. . Where as my senior have already got the benefits This was happened due to negligence of my seniors My branch manager promised me that I will get my incentive in next cycle from last 3 months, but I have still not got my incentive for that month (November)......... Now if I will leave the organization than I won’t get my incentive. Is it the right policy of I I F L ( india infoline ltd )

Dear Sir My client id SHEIKH01 applied online for coal india ipo and made a payment of Rs.30,625.00/- icici bank cheque # 517311 for shares.But i has been alloted 62 shares rest shares paymentyet to be received.its more than 90 days still i am not getting any response from company.Firstly i was told that i would receive the balance amount through a cheque or it would be transferred to my ICICI Bank account through which i issued a cheque, however after 1 month of followup they told me that they have transferred the amount into my SBI Dp linked account which was a closed account and now it has been more than 2 months i am trying to locate my money through them and they are just making an excuse after excuse and they arent even replying to my query .. plz help me

kindly tell us the status ...Details

DP Id : [protected]