India Infoline Finance [IIFL] Complaints & Reviews

IndiaInfoLine — Stupid Service

Hi All.,

This is siva, I am having DMAT account with India Info Line. I never find such type of worst service in India i.e.., 22wrking days a month, 18 days their office use to have system problem, ups down, net disconnected, vsat problem, their site http://trade.indiainfoline.com 365 days problems i.e.., problem means not the application error it will show your current balance as Rs.10000/- instead of 1lakh, you can check your trading options once in a week because all the time that site is busy.

I fed up with India Info Line.

Reg,
Siva

Dear Sir,

We have taken notice of your query and request you to email your query with login id to [protected]@5pmail.com, in order to help us solve your problem. Alternately you can post your query at http://qna.indiainfoline.com/clientquickresponse/frmlogin.aspx or contact customer support at[protected].

Regards,
IIFL Cutomer Service

India InfoLine — WE HAVE NOT RECEIVE YOUR P.F. YET

my self jitesh h.jariwala Pf A/c No is Mh /44699/7610 and hetal k.patel Mh /44699/7649had applied for withdrawal of his money from pf on 23th november 2008, since then it has been 6 months but they havent done the neeedfull, instead they are making excuses that due to rains the name from the file has been washed off as such,

we worked at india infoline P.L.department surat branch we do all pruceeder from our siad.

To
Branch manager jai sanghani India infoline ltd (vile parle west)
You are aware that on 17/09/2009, we had a disagreement and a verbal argument ensued between us. Subsquently, I had tenderd my apology to you. But you refused to accepting apologies and you had orally instructed me to not report to work from same day, you also prevented me from doing my work by blocking my email id.
you did not give me any termination or suspension latter or any written instruction or correspondence, infact you avoided to put any thing in writing.
Such act of yours is highly un professional and high handed, such act holding personal grudge agaist me is highly undemnable and against proprietry.
I my said letter demand you as under what ground have you orally instructed me not to report work. As under what authority did you stop me from assuming and resuming my rightful duties, under which authority did you not or avoid to issue to me a termination letter . why your such act not be construed as highly personal in nature.

I am mailing a cc to the chairman, md, vp, hr, so as to upprise them to the said incident and your high handed behavior .

cc to
Nirmal jain (chairman of Indiainfoline ltd)
venkat (managing director)
westhr
chintan modi (V P )

Santosh k gaikwad
Employee id c 41946



--- On Fri, 30/10/09, Santosh Gai <[protected]@yahoo.com> wrote:


From: Santosh Gai <[protected]@yahoo.com>
Subject: Fw: TERMINATION LATTER (EMPLOYEE ID C41946)
To: [protected]@indiainfoline.com
Date: Friday, 30 October, 2009, 4:32 PM



reminder 5
--- On Thu, 29/10/09, Santosh Gai <[protected]@yahoo.com> wrote:


From: Santosh Gai <[protected]@yahoo.com>
Subject: Fw: TERMINATION LATTER (EMPLOYEE ID C41946)
To: [protected]@indiainfoline.com
Date: Thursday, 29 October, 2009, 4:52 PM


reminder 4

--- On Thu, 29/10/09, Santosh Gai <[protected]@yahoo.com> wrote:


From: Santosh Gai <[protected]@yahoo.com>
Subject: Fw: TERMINATION LATTER (EMPLOYEE ID C41946)
To: [protected]@INDIAINFOLINE.COM
Date: Thursday, 29 October, 2009, 3:09 PM


reminder 3

--- On Thu, 29/10/09, Santosh Gai <[protected]@yahoo.com> wrote:


From: Santosh Gai <[protected]@yahoo.com>
Subject: Fw: TERMINATION LATTER (EMPLOYEE ID C41946)
To: [protected]@INDIAINFOLINE.COM
Date: Thursday, 29 October, 2009, 11:05 AM



REMINDER2
--- On Wed, 28/10/09, Santosh Gai <[protected]@yahoo.com> wrote:


From: Santosh Gai <[protected]@yahoo.com>
Subject: Fw: TERMINATION LATTER (EMPLOYEE ID C41946)
To: [protected]@INDIAINFOLINE.COM
Cc: [protected]@INDIAINFOLINE.COM
Date: Wednesday, 28 October, 2009, 4:48 PM


REMINDER


To
Jai sanghani
(Branch manager)

Ref to above subject, I want termination latter by written format on what groud did you terminate me from the job, so provide me the same asap.

From

Santosh k gaikwad
(Employee id C41946)




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Dear Jitesh,

We have taken notice of your query and request you to email your query with login id to [protected]@5pmail.com, in order to help us solve your problem. Alternately you can post your query at http://qna.indiainfoline.com/clientquickresponse/frmlogin.aspx or contact customer support at[protected].


Regards,
IIFL customer Service

Hi

Anant Here. Imran I am strongly agreed with you. The same situation I am facing with IndiaInfo line, Udhna Branch in Silicon Shoppers.

My relationship manager name was Indu Pandey (Chandni), & she had never responded my query nor he has replied my Phone Calls or SMS. Also she had made a LOSS of Rs. 10, 000 in my Account.


So, please advice what can be the next step that can be taken to recover mine Loss.

Thanks

Regards
Anant Jain
[protected]

Superb

Dear Sir,

I would like to bring in your kind notice that i did apply for new IPO in NHPC Limited (2nos lot, Amount of Rs.12600) but till today neither i have received Units nor my money back, therefore you are kindly requested to look into the matter and investigate why it has happened. Details for the same as below.


UserID : AJAB2009
Transaction Code : IPO1806444
Application Date : 10/08/2009
Amount : Rs.12600/-
Scheme Name : NHPC LIMITED
Bank Account No :[protected]
Bank Ref ID : [protected]
Bank : ICICI
Status : SUCCESSFUL
Confirmation of application: as in attached file.

With Best Regard's

Ajab Singh

INDIAINFOLINE SECURITIES PVT LTD — FIR against Indiainfoline senior staff members

Dear All,

1.I am Rashmi Singh holding an Online trading account with India Infoline Securities Pvt Ltd Raipur Branch since 2006. On 23rd Jan 2008, I came to know about several unauthorized, illegal & fraudulent share transactions done by India Infoline Raipur Staffs in my said account without my information, authorization and intimation due to which I have suffered a financial loss of Rs.6, 68, 000/-.

2.I never had any idea about the kind and nature of these illegal transactions as I never received any telephone calls from Indiainfoline branch office before executing these transactions and even after doing these transactions, moreover I was out of town & out of country in that particular period. I never received any confirmation call at the end of each trading day also.

3. Ratio of said illegal transactions are much high in the tenure when I was out of station and out of country about which I before hand intimated Indiainfoline RM Rajesh Gupta over telephone stating that no transactions should take place in my absence but it happened exactly the opposite.

4.On 26/01/2008, Mr. Rajesh Gupta (RM) verbally accepted in front of his BM that he did transactions without my knowledge & he himself purchased & sold scripts along with Santosh Singh (RM) without intimating me and he gave me a self chq from his personal account amounting Rs.6, 68000/- to re pay the losses occurred to me but that chq too got bounced.

5.I also gave a written application on 28Th Jan’08 to freeze all types of transactions in my said account till my further correspondence which was accepted by Branch Manager itself. But to my surprise, even after giving written letter to freeze my account, again Indiainfoline made transactions in my said account on 01st Feb’08 and added loss of Rs.88, 000/- more.

6.I kept on writing mail to Mr.Nirmal & Mr.Venkat (Board of directors) about the fraud and asking them to repay my money, but I have not received any revert from them till date. So helplessly I registered FIR against all 4 staff members of Indiainfoline Raipur branch i.e. Mr.Rakesh Gupta (BM), Mr. Shiban Das (Territory Manager), Mr.Santosh Singh (Officer) & Mr.Rajesh Gupta (Office) including the Board of Directors in local Thana due to which 3 staffs of their local office were arrested (Branch Manager, Territory Manager and Relationship manager) as Police found my complain correct. They were sent to Jail for 5 days but later on, were released on Bail and are still on Bail.

7.I have even sent newspaper clipping of this arresting to Board of Directors and corporate office by mail but nobody is ready to respond. Moreover this fraudulent activity of Indiainfoline staff was also covered by CNBC local news reporter and was telecasted on National level on 30th Aug’08. Still Board of director is not ready to pay attention on this.

8.I have dragged Indiainfoline Securities Pvt Ltd for arbitration by registering a complain against them with SEBI whose 1st hearing has already been conducted at NSE Kolkata office on 17 Mar’09.

9.Indiainfoline is over looking SEBI”s instruction completely so doing frauds with their customers...As per disclosers in account opening form of Indiainfoline Securities Pvt Ltd, it has been mentioned that Indiainfoline would be settling any dispute with the clients with the help of voice recording system which Indiainfoline maintain in each & every branch office but Raipur Branch is not maintaining any telephonic records of the calls made by them or received by them & are disobeying SEBI’s instruction. As per SEBI guideline, all DP’s are supposed to install voice recording system in their office. Even as per NSDL’s byelaws & Indiainfoline Securities, a DP is allowed to effect any debit or credit to an account only on the basis of valid instruction from the client WHICH IS NOT BEEN PRACTICED BY INDIAINFOLINE SECURITIES PVT LTD.

10.As per NSDL Bye-Law’s, a DP should maintain & preserve the records of all the delivery/receipt instructions given by the clients WHICH IS NOT AVAILABLE WITH INDIAINFOLINE SECURITIES PVT LTD RAIPUR BRANCH.

11.As per NSDL Bye-Law, securities should be transferred to or from a beneficial owner’s account only on the receipt of instructions from the beneficial owner. No entry in beneficial owner’s account should be made by any DP unless it is supported by instructions received from the beneficial owner as per the agreement made with him BUT IN INDIAINFOLINE RAIPUR BRANCH, SECURITIES ARE BEEN PURCHASED & SOLD WITHOUT CUSTOMER CONSTENTS.

12.Even DP’s are required to send a consolidated transaction statement, in physical form, for the entire financial year which I never received in my postal address.

13.As per NSDL Bye-law’s, clients should receive Contract notes of all the transaction duly signed by authorized signatory of DP within 24 hours of transaction taken place in clients’ account. Here I would like to inform that neither I even received contact notes for all the transactions took place in my account nor statement of my account.

14.As per SEBI’s guideline, a DP’s must inform the clients before squaring off scripts from his account in case of existing debit balance in his account. I was NEVER been contacted over phone or in personal before squaring off securities from my account

15.It is also very logical that if such a large transaction is been taking place in my account & such a high brokerage is been paid by me, Branch Manager must cross verify with the clients regularly. But Branch Manager never ever called me to verify the truth which clearly shows his own fraudulent motto.

16.I have even mailed several times on customer grievances of Indiainfoline securities Pvt ltd but they also never ever contacted me or reverted me.

17.All these fraudulent activities are happening in the branch office in the presence of Branch Manager and territory manager which shows their poor control over branch and staff.


Guys, keep the spirit high and fight for your hard earn money.
Best Regards,

Rashmi Singh
Raipur.

In just one month 60, 000 of my deposit money is gone, I asked my RM to invest in share but he did some short of margin trading and blown all my investment. I'm also going to lodge an FIR in 2-3 days.

Your complaint is right. But please remember, whenever you complain against a company, always make the owners, MD, Directors, Chairman party to the complaint. Otherwise nothing will happen.

sir sec 63 branch of noida has done fraud to me.
there was unauthoreze trading in my ac nd may ac is nill now.
i have even given written complaint to avp nansdan kumar but he has shown no interest towards my case.
i m a student. nd my full saving has lost, .
now i m hopeleess nd feel cheated by indiainfoline.
i was thinking of making godd relations to indiainfioline even i was going to recommeend 7 of my frds as they want to trade nd i was to recommend them indiainfolinee broking firm.
but now i feel seriously cheated.
seriously feel harrased
iniainfoline has lost its value in my concen nd case.
there is no honey nd no money through indiainfoline
[protected]

sir sec 63 branch of noida has done fraud to me.
there was unauthoreze trading in my ac nd may ac is nill now.
i have even given written complaint to avp nansdan kumar but he has shown no interest towards my case.
i m a student. nd my full saving has lost, .
now i m hopeleess nd feel cheated by indiainfoline.
i was thinking of making godd relations to indiainfioline even i was going to recommeend 7 of my frds as they want to trade nd i was to recommend them indiainfolinee broking firm.
but now i feel seriously cheated.
seriously feel harrased
iniainfoline has lost its value in my concen nd case.
there is no honey nd no money through indiainfoline
[protected]

I also join with all those here and wish to inform that if anybody opens account with this co. they are bound to be duped by this co. I have opened an account in 2006 and after my request to close the account and transfer the shares in another account has been denied till date. I don't know whether the shares are there.

Can anybody tell how to retrieve these shares from this co.

[protected]

Monthly Interest not credited to my trading account

I have invested in bond and they have credited interest once to my account & afterwards stopped. I am contecting to them but not getting satisfactory reply Harismitaben J Patel

dear sir
i had work with india infoline for 1 year my tds is deducted but due to dissolution i hadnt received my tds certificate for the year 2008 our regional manager was kuldeep choudhary

India InfoLine — Trading without permision

Dear Sir,

Through this mail I would like to make a complaint for one of your agent Mr. Ranbir kumar his employ code is C-50871 and mobile no- [protected], regarding the trading without my permission.

I would like to bring it in your kind consideration that he did lot a trading from my account without my permission .you can check the record .The trading record shows that he traded only for brokerages purpose, he did blunder on daily basis but not inform me. I have already made complaint against him to branch office Mayur Vihar (New Delhi), but no any action taken by branch manager. Now who is responsible for my loss? My loss should be recovered from his salary otherwise he will do again with other customer. I want make a fIR against him.

I am sure you will recover my loss from his salary and you will take necessary action against him.

Thanks

With Regards
Jyotsana Sharma
Flat No.302, Sector -22
DDA Flats Pocket-1
Dwarika New Delhi
[protected]

India InfoLine — Trading without permission

This is to bring to your notice that an employee, Prashuram Jaiswal (employee id : C53006), of India Infoline Services Ltd. traded in an unauthorised and indiscriminate manner in my online trading account resulting in a substantial financial loss to me without my knowledge. I had bought shares of four different companies at various intervals between November 2007 and February 2008 and now I find that these shares are not there in my account.

This broker is now saying that he traded in my account with my permission, which is not the case. His branch manager, Imran is supporting this broker and refusing to listen to my complaint. I request the authorities to take strict action against both Parshuram Jaiswal alias Prem Raj and his manager Mohd. Imran Khan, as soon as possible.

India info line is not only cheating clients but also the employees. The reason why they are selling without your knowledge is the employees are not given salary unless and otherwise they show 3 -4 times of their salary as brokerage. Frustated employees are doing some trading without the knowledge of the clients and leaving the company inorder to put the company in trouble.

The usual thing happening in IIL is they will recruit somebody in the middle of a month. they will give salary for half the month. From next month no salary will be given, which they will realise only in the third month. They will say it will come after 10th, 15th, 18th and the next month will come and no salary will be given. By this time, they will catch some clients and make them do some trading. If reason is been asked for not giving salary, they will simply say you have not met the target of brokerage as well as getting clients. the frustated employees will leave the company without any salary having worked for 3-4 months and this will continue. they are not bothered about people leaving the company as their clients count is increasing.
Some sever action should be taken against IIL for cheating emplyoees also.

let us unite for justice, call [protected]

ya it is very much true that they r trading without the clients placing the order with them they do this just to earn brokrage without considering the long term perspective. we have had the same experience, they r practicing all sorts of illegal practices even then i do not understand why SEBI, NSE or BSE is taking any action on Indiainfoline are they hand in glove with the brokers.

Indiainfoline should be banned from doing business on BSE and NSE.

My id is JADUMANN. ON 7TH of December my Relationship Manager bought albk and lost Rs3000/- and said sorry I have good targets, and in the past Relationship manager bought PFC fut and axis bank fut and lost Rs, 11000 and Rs, 5000 respectively by doing trades without my consent. If it continues to happen like this then I will take legal suit against the company.

Res Sie/Madam

I left the job India Infoline Pvt.Left.Joining before 2 month (job start date:11-jun-2009 to 31-jul-2009) you give suggestion properly salary which is the style completly pay scale mentiod offer letter or performance basis count salary and pay the payin slip.I gave performance basis cheque.my CTC IS 96, 000 AND pay monthly cheque 3, 000.pls solve the my problem.cut my salary in IIPL92D5C

India Infoline Commodities Ltd., — unauthorized transactions in Commodities Trading account

Sir,
I have Commodity Trading Account with an Id: VENKDHAM in M/s India Infoline Commodities Ltd., at their Rajahmundry branch, having office address as: D No.6-6-10, 2nd floor, Above Bank of Maharastra, Vadrevu vari Street, T. Nagar, Rajahmundry, Andhra Pradesh.

During the period from dt.13.05.2006 to 19.06.2006, trading transactions were done without my consent in my trading account; and possess my hard-earned money to a tune of Rs.31, 216/- by deflating the balance in my account.

Repeated requests and reminders to sort out my grievance to the company’s management were turned unfruitful; and hence brought to your kind notice.
Please help me out in this regard
Thanks & Regards

G.V.Ramana
Mobile :[protected].

My case o[censored]nauthorized trading is a novel example of rampant misuse of loopholes of the security market. Inspite of my written instructions with the deposit in advance, to purchase blue chip shares on market correction, the surplus funds I had deposited in our account to purchase shares were misused without our knowledge to trade to the extent of 59 crores just to generate brokerage for the company ( India Infoline Ltd.) to the extent of Rs 2, 66, 330 and delayed paying charges of Rs. 33, 072 i.e. the company earned a brokerage of Rs. 3 lakhs from these two accounts in a period of 2 months.
The MODUS OPERANDI of doing unauthorized trading is by pressuring the relationship manager to generate brokerage 4 times their salary or else they are threatened that they will be sacked from their job. Here the broker company earns huge brokerage and in most cases gets away with the crime as in most cases instructions given are oral by unsuspecting, gullible investors and thus later very difficult to prove the cheating infront of judicial forum. Here in the company also helps the RM by not giving any documents or contract notes to the client of the trades done. Thus the client is unaware of the transactions done in his account. Also after discovery of these unauthorized trades by the investor, the company immediately suspends the RM but hold back his salary to force him to good the losses.The broker company to further trap the customer convinces him that ‘ The RM was bad, and if one RM is bad, the entire company does not become bad. We will pay back your losses as it is a meagre amount for the company and also help you to recover the losses from the market by our “expert tips reserved for the management”. They thus urge the customer to trade which they do with concealed ulterior motive of misleading the judicial forum later by showing the exact debits cleared by the authorized trades done afterwards, that the customer was also aware of the earlier unauthorised trades.
So NSE should educate investors once such unauthorized trades are discovered by an investor he should not to do any transactions afterwards in his account.
As many such cases are reported to NSE, done by trading member to increase their turn over, NSE has started the Investor education advertisements in newspaper advising 1 ) not to give e-mail id if not in use.
2 ) not to power of attorney.
3 ) not yo give surplus fund in Account.
Brokers are misusing the power of attorney to trade illegally in customer account and sell of shares from their demat account to cover the resultant losses and finally earning a decent commission for the relationship manager and the Branch Manager.
Inspite of my repeated complaints SEBI, no action has been taken against India infoline Ltd.( I.I.Ltd. ).
Many such cheated investors of I.I.Ltd. and other broking companies will definitely surface to highlight this grave loophole in our capital market.

sir/madam


I am Nisha.A, I had been working in India Infoline Insurance Venue Operations in Calicut Branch as a Seminar Consultant, for two months from february to March .In March I had completed my monthly target 50000 rs .But I didn't get my salary. Now I don't get any healthy informations from the side of India infoline Insurance Branches when I approach them. I request your kindly concern about My complaint and I hope a satisfactory answer from the Company.

Yours faithfully
Nisha.A

indiainfoline ltd — without intimation freezed brokerage

dear sir,
as i am a sub broker of india infoline ltd .i have some N PA and dr balacne which company called as negative net worth they hold my chq of brokerage of rs around 80 k from last two months and did not paying a single peeny of intrest but they freeze my amount in against of the N PA they didnt settle down these a/c's also and they are charging intrest on these a/c's @19-22% p.a as i shouted and made complains to higher authorities of the companies but no one is listening so plz look for this matter urgently as intrest rate is too high and they freezed my brokerage chq without any prior notice so it's tough to survive from last 3 months as i also have business expenses.as they have rs 2 lacs intrest free deposite also from me .and sir there is so many irregularities with this company i have evidences but no one is care to look .

need to check the balance for my PF ACC NO- dl-27435/725

plz check my PF status thanks.

i am x employes of indiainfoline i have join this company on 07/04/2007 empl code c34968 and exit on 13/12/2008 i have submitted my porvident fund withdrawl form 14/02/2009 at moti nagar z.o new delhi but have not recieved my provident fund amount till date kindly consider my requst and do the needful

India Infoline ltd — PF Amount Not Yet Credited

Dear Sir,

I have submitted my PF withdrawal forms to my previous company India Infoline Ltd, My PF Account
Number MH / 44546 / 5962, It is almost four and half months over, but still the amount is not credited into my account and do the needful

indiainfoline ltd — pan card not recived

Dear Sir/ mam

My name ananda kumara son of Ganganna R .my date o birth is 07/2/1987 pan number AKRPA9279J ...

WE HAVE APPLIED IN UTI SERVICES COMPANY AND RECENTLY IN BAJAJ CAPITAL ALSO ...



KINDLY PROVIDE US THE STATUS

I want to be finding my p.f.acc.no.and also finding its balance.

indiainfoline ltd — PF AMOUNT NOT RECEIVED

Respected Sir / Mam,

My PF refund application form was submitted on 8th- April -2010 through Maharastra PF Office . Till date refund is not credited to my account.
Pls let me know when it will be credited.

My PF Account no is - MH/44699/6460 & MH/93462/618


Regards,
Kamlesh kumar
[protected]

PF Amount Not Yet Credited
Dear Sir,

I have submitted my PF withdrawal forms to my previous company India Infoline Ltd, My PF Account
Number MH / 44546 /1506, It is almost one year over, but still the amount is not credited into my account.

Thanks,
Rajiv

Dear Sir/Madam
I had paid Rs 2555 by cheque in favour of India Infoline Ltd dated on 1/06/2009 and zerox copy of my PAN CARD for opening a demat account in your branch at BALASINOR, DI-KHEDA.I have frequently consulted to that branch staff regarding opening of my demat, but every time she has an excuse.Now i am totally fed up with your poor customer service.So i have decided to stop any further account with your firm.
Now i want my money back.so as soon as possible please send me closing form.


Regards,
SATISH PATEL

i just want 2 know the charges to open a new Demat account in india infoline

India Infoline Limited — foreclosure charges on homeloan

i am running a homeloan with you. the sanction letter clearly states no foreclosure/prepayment charges but the bankis now asking foreclosure charges of 8lacs .also ignoring the rbi guidelines

Dear Abhishek,

We have taken notice of your query and request you to email your query with login id to [protected]@5pmail.com, in order to help us solve your problem. Alternately you can post your query at http://qna.indiainfoline.com/clientquickresponse/frmlogin.aspx or contact customer support at[protected].

Regards,
IIFL Customer Service

Mr Priyabrata Roy

Appropiate action hadbeen taken and the case has been resolved.