India Infoline Finance [IIFL] Complaints & Reviews

I have a trading account and demat account with india infoline limited at jamnagar branch. My ID is HACHIRAG, I have changed my mobile number and given details to the jamnagar branch for updation. My old number was [protected] and my new number is [protected]. I have given every details for the updation twice since two months at the jamnagar branch to its manager Ravi Saparia, but still they have not updated it. Because of it i can not get online account password as it is send by the company only at mobile. I have visited the branch 15-20 times for the matter and they are telling me that it is under pocess. And when today i told them to show me what process they have done for my complain, the manager Mr. Ravi Saparia told me they can not show me any things as it is not in their policy and when i told him to give it in written he refussed me and told he will contact me only when he will get the number updated. I asked for the approximate time and he told me he refused to tell anything.

So sir please look at my complain and give me suggestions as the manager of jamnagar branch is not cooperating so that i can get my online password as early as possible .

Branch manager of india infoline pvt ltd, hazaribag, jharkhand frauded me of rs, 40000/- by trading in f&o without my knowledge or consent.they have since closed their office at hazaribag since this was done with 4 or5 more india infoline customers along with me.this can be easily checked.pl help me in recovering my money.

Dear Sir
I am Rahul Gupta From Badaun UPW, i am Joined the Indiainfoline Ltd. Remisership in District Budaun and Mr. Adil, Ashit Jian (B.M.) told me you are working indiainfoline ltd. company give you 500 Rs. per account and 25 % Commision so sir i am joined the indiainfoline ltd. but my equity payout very dely and my commodities payout not send me and give us many more paper submitted but my payout not given me.
and sir my commodities client not maped my remiser code.
plz help me and confirm me this matter.

PF claim
I am Indhu.V. I had worked in India Infoline Ltd as Branch Coordinator in Coimbatore-Townhall Branch, Tamil Nadu, from 01.5.2006-16.12.2008. I have already sent PF form for claiming my PF before 3 months[16.04.2009). Pls tell me the status and do the needful. My PF Number is MH/93462/1737 and MH/44546/5493.

My Employee Code-C10016

Indhu.V
5/61 B Nachi Muthu Gounder Street
Mettur
Podanur
Coimbatore-641023
[protected]

Hi,

I asked my Relationship Manager (RM) to place an order to buy a Call of Rs - 4500/ @ Rs - 188/ with a stop loss of Rs - 178/. He instead of obeying me, used his brain and place the order without stop loss.
The order got executed and the market start falling rapidly. My RM (Michin Rastogi) called me and said "Sorry Sir! Stop Loss nahin lag paya aur market gir gayi hai."

My client id is -ASEEMAR9 which is in PUNJABI BAGH branch. I have faced a big loss in my a/c and I already faced this thing many times but they didn’t take it serious. Now please do something for that because I want to trade but unable to do trade with my current RM.
N I don’t want to bear that loss.

Thanks,
ASEEM ARORA (ASEEMAR9 )
[protected]

I received a call from India Infoline offering a plan in which I would get "assured" return of @13.7% p.a. and was explained in details with an example. If I plan to invest Rs.30, 000 per year, my example would be as follows :
1st yr - 30, 000
Interest earned @13% - 3, 900.
Total Value : Rs.33, 900

2nd yr. Add 30, 000 = 63, 900
Add Int.@13% = 8, 307
Total = 72, 207
and so on till end of 5 yr. scheme my assured value would become Rs.2, 19, 679/-
Now since i have been paying in the scheme, the co. would further add @125% of the 1st yr. premium i.e. Rs.37, 500 as bonus. Making the total value of my investement to Rs. 2, 57, 169/-

This looked very attractive since it was much higher assured return anyone can get today.

So their representative, Mr. Sanjeev Kumar visited me to finalise the plan.

When i demanded the "assured" scheme to be shown me in writing or in ICICI prudential's brochure / leaflet, he could not. But, instead he wrote the whole plan on a piece of paper which he had brought from his Delhi (Kakarduma) office claimed to be written and given to him by his seniors (Mr. Kunal) there.

I smelled something fishy and so interrogated him. After some talks with him, his senior Mr. Kunal (on tel.) and Ms. Lata (Delhi - on tel.) it became clear that they were trying to cheat me by showing wrong figures and calculations.

What action is possible against these culprits under these circumstances. And is ICICI pru people not aware of these malafide practices their agents adopt so as to boost their sales !!?

I have received a SMS on 13.07.2009 which says and I quote "Your Mobile NO has won GBP 300, 000 in the 2009 (SHELL) INT'L Mobile Draw. To Claim your prize contact Dr. Alex.
e-mail [protected]@live.com". Please help me.

Thanks & Regards,
Maragatham.K

Sir I requested to my existing RM of Zonal office Kolkata, India Infoline to transfer my account to Franchisee Code and mumbai office also then i got a mail that your RM have to send us a Tripartite Agreement otherwise we are unable to transfer it and when i came to give the same then she refuses to accept it but in the meantime she delibrately/wrongly transferred my account to branch office without my permission and approval then i talked to RM and Senior told me that branch got the mail from mumbai that an account of one customer has been transferred to you so he gave me a call to shift my account under RM of another branch without my permission and i have no idea that what is doing with my account or not because i will be not liable for any thing and samething has been done with my one friend. The senior of RM is very powerful and she has told me that i will not help further and not receive any call with you. Please suggest. It is very urgent MY ID khemka.[protected]@gmail.com

I am holding an account for the last 4 years @ 5 Paisa with the secunderabad (Minerva Complex) branch. First of all one cannot get the correct contact details of the branch neither from india infoline website nor through the customer care. Shame on them.

When I opened the account with 5paisa I was not informed that which branch my account belongs to. I started trading on myself initially, it was all good for some days and ledger balance of Rs.27000. I stopped trading for few months due to work pressure. I could not even check my mails during this period. When I was about to restart trading my account is with NIL balance. I requsted for the statement of the entire year. I never got it even after several requests.

It took literally a week to find out my actual branch. When the market was in swing I did a fresh investment about 1.5 L after meeting with branch manager (as a precaution the same experience should not repeat). He assinged one RM to my account. He was helping me out in taking positions and letting me know my ledger balance during only whenever I call him. I was not even informed when he left the job. And the India Infoline changed the rules it seems so that they sold off some of my stocks due to no margin. This was hard to digest for me and same thing happened in consequetive days. None of the RM has called on this.

The same situation repeated recently. I personally visited branch and the branch manager was not available in office so I could not get a change to talk to him. I have transferred some more money to get back my stock position to previous state. There was no extra stock postions. My current stock position is around 2.5 lakhs.

Recently I purchased SBI shares 15 @ 1750. I provided an axis bank cheque for 27000 with in an hour of purchase (on 2nd July (Thursday 11 AM)). On 9th of July I received an SMS that they sold of some off my stocks again. When I look back into my bank statement the india infoline people submitted the cheque on 4th July (Saturday), obviously it would be sent for clearance only on monday as saturday was half day and sunday was non-working day for banks. Again I have not received any call from the branch for the non availability of the funds. The cheque was cleared on 10th July. Now I am trying to catch hold of the manager Mr. Raghavendra on his landline[protected] and mobile-[protected]. As usual this respected SIR is not lifting the phone as he is busy with personal works during trading hours. Seems like No worry about the customer's money.

Now I am planning to move my account to some other broker, if India Infoline allow me for a smooth closure of my account. God only knows how many days again they will take for this operation :-)

My son Mr Nisarg B Vora joined India Infoline, Ahmedabad from 15th June 2009. He was sent for training at ICICI Prudential at Paldi for which we had to pay Rs. 550/- and then he was placed at India Infoline call centre for selling Insurance Policy. He was not given any offer letter nor any thing in writing. Now one month has passed and they are not giving the salary with a reason that employee is eligible for salary only if he continues his job for 1 1/2 month. He was pressurised for selling the policy so he has stopped going to office.

As per the rule in any condition the employer has to give salary to the employee for the number of days he has worked.

So its my humble request to you to please look into the matter and help us in getting the salary for the period of one month.

Thanking you in anticipation.

Yours truly

Daksha Shah ( mother of Nisarg )

Dear sir/madam

I had been claim for my PF settlement . I would like to inform you that at your site i had check my PF withdrawal status and it is showing settled but till today my bank did not get any cheque from EPFO in my favors.

My PF Settlement NO. is 90048110


My PF NO IS -MH/44546/7981

status attached


Status of Your Claim
State : MAHARASHTRA / Region : BANDRA / Establishment Code : 44546 / Employee No : 7981

Send Feedback


Receipt_no Type status remarks
90048110 Form 19 Settled



kindly do the needfull and necessry please.

REGARDS
Pawan kumar
[protected]

Dear Sir,

my client in Indiainfoline is NNDASHOK . As per my knowledge by my RM Mr. Amit Mishra done wrong and unknown trading without my information during 18th april to 5th May 2009.

I had done complaint about this awful activity in Indiainfoline but still I had not received any concrete action against that RM .

I have resigned from my services in the month of Feb 2008. I have submitted the PF withdrwal forms at India Infoline office three times, once directly in Siliguri branch office and twice sent to Kolkata Zonal Office by courier services during the period of Feb-Oct 2008. But till date I am not received the PF withdrwal amount. In fact at this time I am totally unaware about the current status of my PF withdrwal.

Last couple of days I tried to know about the PF withdrwal status from Kolkata Zonal office, but I found that no one is ready to speak on this they are just avoiding my phone call, I have also written few e-mails from my p0ersonal e-mail id but surprisingly no reply is received.

Now I am totally help less to get the current status of my PF withdrwal.

Details of my PF is as follows

Employer India Infoline Ltd
PF number MH/44545/1699
Emp Code C18653

dear, sir,
i have joined indiainfoline as a team leader in life insurance department on 01 april 2009 in jalandhar branch.but after one month of joining my employee code was not given to me . but me my seniors i.e. my sales manager Mr.Deepak kumar Behl (mob.[protected]) has told me that your employee code has come and it was in the mail box of our boss Mr. Saurav kumar singla ( A.S.M) emp. code - C66840 (MOB. [protected]) .But they did not give me my employee code .meanwhile i have started doing work i.e. recruitment and business. I was going to office till[protected] when my sales manager told me that i have been terminated from my job without informing. kindly give justice to me and take action against them who are responsible to exploiting the youth . kindely assist me what i should do for the release of my salary.
yours faithfully,
sharanjit singh ( [protected]) email add.- sharan.[protected]@gmail.com

With great regret I am informing you that I have received one of the 3rd class /worst services from your company IndiaInfoline.

Ravinder Singh (Relationship Manager, Mob no. [protected]) in chandigarh, sec 22 branch took documents and cheques from me for investment, (SBI Contra, Kotak 30, TataInfrastructure, Birla, HDFC Top200) but it is now more then one month has passed I have not received any sort of whereabout or /confirmation about my investments and cheques. This fellow is not picking up phones, or says i will come today tommorrow, I have not invested, there was some mistake etc...but nothing has been done so far.

I have deal with India infoline not with the person.Pls let me know whom should I contact or lodge a fraud complaint with police.

Pls revert back immediately

Navin Goel
[protected]@hotmail.com

[protected]

I am having an account with India Infoline since November 2008 and i gave them 4 more accounts in my organization. Mr. Sunil Pandey from Moti Nagar/Vikas puri branch opened these accounts and he was supposed to help us as Relationship Manager.

I thought that India Infoline is very reputed & good brokerage firm and the people over here will keep their words/commitment but i am very sorry to say that you people are very much careless about your clients.

At the time of opening the account, they promised the opening fees (Rs 555/-) will be waived off but after three months they deducted the fees from our account. When we asked, they said by mistake its done it'll be back shortly and its more than three months now but we have not received anything yet. The brokerage committed was 0.02 on intra day but they are charging whatever they want even in delivery shares too. On the same share they have charged .01 paise on buying & 0, 05 paise on selling which is very much illogical.

I am very much dissatisfied with India Infoline and wish to get all refunds & close all the accounts.

Gaurav Chawla
+91-[protected]

Dear sir,


My name is Bharati Srivastava and I opened my account in India Infoline for Online trading in Allahabad. Inspite of my several reminder, my broker did not provide any document to me. My client ID is-BHARTSRI. Several time without my permission, they sold my shares and almost all money they misappropriate for their brokerage.
Today I tried to login my india infoline online trading account and found that some one has changed all the details and done offline work. I did not login at 12 am but it is showing in that.
Please tell me my user neme and password so that I can work on this.

With reference to the above subject I would like to register my complaint against India infoline with whom I have my demat account with user ID - Kavisun2. In the beginning I was able to check my account from my laptop but later on there was some technical problem due (software upgradation) due to which I had no access. I was at the mercy of my relationship manager Mr. Debashish to operate my account which was with Vashi branch. However after the markets had crashed I had informed him clearly to hold on all my shares and do not trade untill the markets go up. But I realized later that inspite of my instruction some one had traded and sold off all my shares without my consent. I have written several mails and complained to their customer care but they have not reverted with any positive reply. Would request your assistance in this regard. I am pasting below the series of communication had with India infoline.

From:
"[protected]@5Pmail.com" <[protected]@5pmail.com>| Add to Address Book |This is spam



To: "[protected]@rediffmail.com" <[protected]@rediffmail.com>


Subject: Re: Re: Re: Re: Re:


Date: Mon, 18 May 2009 17:14:01 IST









Dear Sir/ Madam,

With regards to your mail for the login id KAVISUN2, kindly note that we have forwarded your query to your relationship manager Mr. Shoeb Master contact number [protected], further he will revert you shortly.

Until then we request you to coordinate with us.

Assuring you of the best of our services at all times. Please get back to us for any clarifications.

Warm Regards,

Gopi.















CASE :- 434178

Dear Dinesh,

All transactions done in the month of August after 05.08.08 has been without my consent. I had a discussion with Debashish who was handling my portfolio and had clearly informed him that since the markets have crashed please do not do any tradings and hold on to all stocks. I had also visited the vashi branch office and personally met him and informed him & his senior about holding back all shares. Infact he had invited me to office to discuss and invest more in the stock market. I want you to check with Debashish mobile no - [protected] for the same.

I also recollect after Debashish left the company some other executive who was assigned my account had called on me and wanted to fix up an appointment to meet me. This person was also a resident of Kharghar, I do not recollect his name. I had bough the shares at a higher price and what benefit would i get by selling it at a lower price and lose all money ? After selling the shares where has the money gone ? I want you to investigate my case and catch the person responsible for breach of trust.

Thanks & regards,

Sun Sujathan

Mob - [protected]



On Sat, 16 May 2009 15:18:53 +0530 wrote
>
>Dear Sir/ Madam,
>
>With regards to your mail for the login id KAVISUN2 please note that we request you to specify the reason for unable to login in your Terminal so it will help us to check and give the required solution for the same.
>
>Further we have attached the ledger statement and the port folio statement for your reference, hence you are requested to specify the date and the scrip which you feel as it had been sold with your concern so it will help us to check and provide the require solution for the same.
>
>Further we are not in receipt of request letter for the branch change hence you are requested to send the scan copy of the request letter so it will help us to check and provide the require solution for the same.
>
>Until then we request you to co-operate with us.
>
>Assuring you of the best of our services at all times. Please get back to us for any clarifications.
>
>Warm Regards,
>
>Dinesh M
>
>
>
>
>
> CASE :- 431057
>
>Dear Dinesh,
>
>Thank you for your response. My account was with Vashi Branch and was assisted by one Debashish. In the very beginning itself I was unable to login to my account and hence Debashish used to operate my account. After the markets had crashed I had checked with him and advised him to hold on the stocks until the market recovers and further notice from my side. However I now understand that all my shares have been sold off. Debashish is not answering my calls too I suspect some fraud.
>
>My branch change request was submitted to your Seepz branch office to Sandeep Daryani.
>
>Kindly check and revert
>
>Thanks & regards,
>
>Sun Sujathan
>
>
>On Mon, 11 May 2009 12:17:03 +0530 wrote
>>
>>Dear Sir/ Madam,
>>
>>We do apologize for the inconvenience caused to you.
>>
>>With regards to your mail for the login id KAVISUN2 please note that we request you to clarify wether you are unable to login your Terminal so it will help us to check and provide the require solution for the same.
>>
>>Further we request you to specify when and where the request letter has been sent for change your Branch so it will help us to speak with your branch and get it resolve the issue because we have not receipt for any request.
>>
>>Your respond in this regards will help us to assist you further. Until then we request you to co-operate with us.
>>
>>Assuring you of the best of our services at all times. Please get back to us for any clarifications.
>>
>>Warm Regards,
>>
>>Dinesh M
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> CASE :- 428329
>>
>>I have not been able to access my account since long and have been continuously following up with the SEEPZ branch. I have filled in a form for transfer of my account from Vashi to SeepZ branch but till date i have not got my account transferred. Repeated follow ups have also not helped, I would be forced to approach the consumer court if this is the response that I get.
>>
>>Sun Sujathan
>>Mob - [protected]
>>Login - KAVISUN2


Thanks & regards,

Sun Sujathan

Sub-unauthorised trading by indiainfoline.

Sir

I have bought rnrl on 26/05/09 with debit balance. same day I handover a cheque of Rs 30000 to Mr tarif(broker of indiainfoline kankurgachi branch).The cheque (Rs 30000)was cleared on 27/05/09 as per my bank statement.But it was not updated by indiainfoline till 04/06/09. on 03/05/09 I get a massege from TA-IIL to my mobili([protected]) that

SUBHRA77'your a/cis in DR balance of RS 40603 pls trf funds by 9am tomm, to regularize the a/c and liquidationof of position, if reqd pls call your R/M/Cust Care'

I tried to call RM but his mobile was switch off, in the next day my stock was sold (rnrl [protected]@ 88.65, gujarat nre [protected]@54.95 and uniteche [protected]@93.55) before 10.30 am (I got a massege from Trader Terminal trf fund or your stock will sold by 10.30am )

My actual dr balance was 10603.

My question is why my stock was sold with DR balance of Rs 40603, my cheque was cleared on 27/05/09 and not updated my trading A/c till 04/05/09, is this my fault ?

I think it was unauthorised trading by indiainfoline. I could hold those stock for long time.

who will compensate my future profit for holding the stock.

on 04/06/09 I called to customer care ([protected])of indiaifolineltd to solved my question but they not given me any satisfactory answer. I also called rm but he also faled to do anything.

so, I demand the the copensation for it.

Thanking You

Subhra Kanta Goswami

Nangi Chakraborty Para, PO- Batanagar Kolkata-700140
W.B
Phone[protected]

Dear sir,
the co has updated his latest version 15 on 17/01/09.
it is running under testing mode since the beginning.
no p&l summary are displaying correctly.
even though what script we purchase system
does not show in next date.
nobody can judge his positions due to above defect.
made so mny request but co neither responding nor
amending/rectifying the version
6 months is considerable time to rectify and basically co should
not introduced the defective version.they have to check it properly
before launching