IndiaBulls Complaints & Reviews

I have a Demat account with Indiabulls 10193827 and downloaded the form and filled in the details and sent by speedpost to their Gurgaon office which they received on the 14th March 2014. I confirmed the same on phone. On the 26th of May they raised a charge of Rs450/- on mailing with no response from Indiabull then follow up by call I was told the same has been rejected as I hold 2 demat accounts which is untrue. I said why no letter has been sent or mail they reply back a letter was sent on the 25th of April 2014 much after the 31st March cut of date which was never received. Looking at some redressal as the same had happened the previous year where they had said no documents were receivedhttp://www.consumercomplaints.in/new_complaint/# Rajib Das [protected]@hotmail.com

In june 2006, When I got my account statement of Oct’2006, I found out a debit of Rs. 14022.00 (approx.), when I enquired about it to my relationship manager of indiabulls, he told me that he invested this money in Futures & Options on 18/10/2006 in OPTSTK RELIANCE 26-OCT-06 1230 CA (Contract note attached) which got expired by itself on 26/10/2006 and all my money became zero. I asked him that how can he do this without my permission and I will complaint against him in Indiabulls. He said that he cannot do anything and he already left the job of indiabulls. So, I met the office head of my account branch i.e. vashi, Mumbai and the office head told me that indiabulls cannot do anything as the person responsible has already left the job but he will look in the matter and will find some solution to it. When approx. four months gone and nothing happened, I filed my complaint on the registered email id of indiabulls i.e. [protected]@indiabulls.com about the same and I got the reply that they are looking in the matter. Then in approx. every six months I keep filing my complaint and always got the same reply that they are still looking in the matter. When I was not getting any positive response from indiabulls, then I search for higher authority and I found out that SEBI is the only alternative as it deals with these type of complaints. I also look for consumer forum also but found out that every complaint related to market dealt by SEBI only so didn’t opted for consumer forum. I filed my complaint in SEBI twice in the year 2009 by registering my complaint from their website but no one responded or entertained my complaint from SEBI. I again start filing my complaint on the registered email id of indiabulls.When the scores.gov.in comes into existence, I tried my indiabulls complaint through scores.gov.in and I am very happy to say that scores.gov.in starts taking action in the matter. The launch of scores.gov.in is the best step in the financial market of India. They really listens. Now, from eight years I am fighting for my hard earned money but still got nothing. My case is under process in NSE with ref. no. NSE/ISC/2013/ [protected] (for proof) and I bet that I will never leave the culprit to go away so easily. I am proud to say that I am fighting from 8 years and found no support in my great country’s legal structure. To prove me as investor of indiabulls, My dmat a/c of indiabulls is DP ID 12029900, CLIENT ID 02957690 & online client ID is 289169.

I really faced a total fraud from indiabulls. In june 2006, When I got my account statement of Oct’2006, I found out a debit of Rs. 14022.00 (approx.), when I enquired about it to my relationship manager, he told me that he invested this money in Futures & Options on 18/10/2006 in OPTSTK RELIANCE 26-OCT-06 1230 CA (Contract note attached) which got expired by itself on 26/10/2006 and all my money became zero. I asked him that how can he do this without my permission and I will complaint against him in Indiabulls. He said that he cannot do anything and he already left the job of indiabulls (this can be verified from indiabulls that who did that transaction and he left the job just after this fraud). So, I met the office head of my account branch i.e. vashi, Mumbai and the office head told me that indiabulls cannot do anything as the person responsible has already left the job but he will look in the matter and will find some solution to it.
When approx. four months gone and nothing happened, I filed my complaint on the registered email id of indiabulls i.e. [protected]@indiabulls.com about the same and I got the reply that they are looking in the matter. Then in approx. every six months I keep filing my complaint and always got the same reply that they are still looking in the matter. When I was not getting any positive response from indiabulls, then I search for higher authority and I found out that SEBI is the only alternative as it deals with these type of complaints. I also look for consumer forum also but found out that every complaint related to market dealt by SEBI only so didn’t opted for consumer forum. I filed my complaint in SEBI twice in the year 2009 by registering my complaint from their website but no one responded or entertained my complaint from SEBI. I again start filing my complaint on the registered email id of indiabulls.
When the scores.gov.in comes into existence, I tried my indiabulls complaint through scores.gov.in and I am very happy to say that scores.gov.in starts taking action in the matter. The launch of scores.gov.in is the best step in the financial market of India. They really listens. Now, from eight years I am fighting for my hard earned money but still got nothing. My case is under process in NSE with ref. no. NSE/ISC/2013/ [protected] (for proof) and I bet that I will never leave these cheaters to go away so easily. I am ready to fight to my whole life so that they don’t do these type of frauds to other investors. I don’t understand why our legal system is so lenient, slow and having so many loopholes for these big corporates to escape so easily. I am proud to say that I am fighting from 8 years and found no support in my great country’s legal structure. I warn other investors please think thousand times before trading with them. May be you will not fight this long and eventually would surrender. I strongly recommend not to trade with this company even in dreams. To prove me as investor of this fraud company, My dmat a/c of indiabulls is DP ID 12029900, CLIENT ID 02957690 & online client ID is 289169. Please pray to give me strength for my fight.

Sir, I am holding demat account no [protected] and trading code AE5138 AMIT V SHAH HUF since last more than 7 years with India Bulls Securities Ltd, AHMEDABAD, due to my shifting to some other place it is not convinient to oparate both since last 2 years. Considering as above I had submitted application to close demat and trading a/c on 15/03/2014 at C.G.Road Br.Ahmedabad.I am shocked to know that there is no reply from either Ahmedabad or Gurgaon office.On inquiring I was replied that the application is in process.But I can not understand how long will it take? Today I talked to Mr.Kumar at your help line with ref no:[protected] but he could not confirm any thing. You are once again requested to confirm having closed my accounts and securities are transferrred to my destination account. Thanks, AMIT V.SHAH Mobile no[protected] Karta AMIT V. SHAH HUF

Indiabulls Real Estate is a fraud company. They have cheated customers in all their projects - Chennai, Panvel. Buyer beware. Before you book a flat with them, be sure to check out reviews on all internet forums. Also read the article in the link below about customers who have taken them to court: http://indianexpress.com/article/cities/mumbai/nothing-much-to-write-home-about/...⇄

I have been asked to pay around 6.7k Rs to reduce ROI to 10.5% from existing 11%, I have been told that within 10 days my ROI will be reduced after payment and I will receive statement as well It's been more than 1 month I made payment, and I sent number of mail, but no response or statement I received, even my ROI is not reduced. I have made payment to Ahmedabad CG Road Branch

Dear Sir/Madam, I avail home loan and LAP from Indiabulls. I have this loan for over 2-1/2 half years now. In all these years i have never defaulted on a single EMI till date. My complaint is that whenever the interest rate goes up, the company increases by just sending a regular mail. And thats it, their liability is over. But the concern is when the interest rate goes down they refuse to reduce the rates. Last time when the rates fell they made me pay almost 2% of the loan value stating adminstrative charges for reducing the interest rate. With too much of pressure i payed up almost 2 Lacs of rupees to reduce my liability assuming the rates have peaked and future is down hill only. Alas my luck and the RBI has started increasing the rates again. And as usual i have recieved intimation from Indiabulls of increasing the interest rate by 1/2 to 1 percent. Is there any way that i can force the company to reduce the interest rate on their own without me paying any administrative charges or am i stuck up with the faulty system of our country. Please help !!!!Please provide as much information as possible...

I have applied and submitted the required documents submitted for the Home Loans in Indiabulls through Sh Naveen (Mobile Number-[protected]). and i gave him a Cheque no 234357 amounting Rs.5618/- as a processing cheque . he assured me the cheque will be used only when the loan will be sanctioned to me. After that he is not picking his mobile phone and moreover he placed the cheque for clearing and the said amount had been debited from my bank a/c without sanctioning any bank loan to me or giving any reference no. This is Case of Fraud not even by naveen but also by Indiabulls.......

Dear Sir/Madam,

I am open demat Account in year 2009 in Indiabulls. I am all ready paid life time fees for Indaibulls Securities Limited no annual charge. But now Indiabulls charge for me annual charge Rs. 450/-. per year last year and this year.
As per indiabulls Mails no annual charge Not Applicable on my account. My client id and Trading Account No. 497073.
Please sole my problem.

Thanks & With Best Regards

Mukesh Kumar
[protected]

Indianbulls is a Fraud Company...Way back in june 2011 we bookd a flat in indiabull's project in Ahmedabad "Cetrum Park". Company offcials promised that they would give us the possession by May 12, though verbally but even according to the Agreement to sale, it should have been handed to us by Dec 2012 but now May 13 will start and still the company authorities are not promising any particular month to give the possession of our flat for which we have already paid the 95 % amount of the flat's price......Its only happening with me, but there are many people who got ditched by the company in the same project. I have already started the process to file the police complain and also the consumer form against this FRAUD and CHEATER Company. If someone is having the same problem with the Indiabulls in Ahmedabad's project, they can contact me on [protected], my name is Sunny Tuteja.

I WANT TO CLOSE THE ACCOUNT AND ENCASH OUR SECURITIES .REQUEST WAS MADE LAST MONTH BUT NO REWERT FROM COMPANY.

REFERNCE AS BELOW- CLIENT ID[protected]

TRADING CODE-62066
NAME- LOVE NANDA

SECOND- CLIENT ID-[protected]
TRADING CODE- CYA534
NAME- C.M NANDA

REGARDS,

LOVE NANDA
33 - MODEL TOWN
YAMUNA NAGAR-135001
HARYANA
[protected]
[protected]

I have booked an apartment with Selene Estataes Limited(Part of India Bulls) about 5 years back and I have so far paid closer to Rs 32 lacs more than 95% of the total valuse Eventhough the contract talks about registration immediately after payment of 90% the Company has not taken any action to register the property There had been delay in handing over possession as well Any number of calls and mails to them did not bring in any response...

Indiabulls Enigma is the upcoming project at Sector 110 Gurgaon. Indiabulls Enigma Gurgaon is going to offer 4 and 5 BHK apartments with all sorts of facilities and features.

http://goarticles.com/article/Indiabulls-Enigma-Your-Lifestyle-Within-Few-Minute...⇄

Hi

I have an account with Indiabulls securities, I wanted complain against Vipin Thakur who is advisor assigned to me from Indiabulls.
Very sorry to say but he is fraud person & cheated me giving wrong information regarding opening of account, misguiding on
buying and selling of shares.

I have lost around 1.5 lacs ONLY due this person false promises. My mistake is I trust his words.

I hope Responsible Indiabulls official take necessary action.

Haldankar

[protected]@yahoo.co.in
Mob : [protected]

Sub : Complain o[censored]nauthorized trading against
INDIABULLS SECURITIES LTD in the year 2007

Respected Sir,

With heartfelt respect we , Shri Tapash Roy Chowdhury son of Late Santosh Roy Chowdhury, at 26,Aswini Nagar, P.S – Jadavpur, P.O – Regent Park, Kolkata – 700 040, and Smt. Soma Roy Chowdhury, W/o Shri Tapash Roy Chowdhury, at 26 Aswini Nagar,P.S – Jadavpur, P.O – Regent Park, Kolkata – 700 040 appeal to your kind self for a patient perusal of the following matter for your deliberation and subsequent action.

I, Shri Tapash Roy Chowdhury started investing from my salary earning in the Capital Market a long way back in the year 1994 and since then with due diligence I managed to accumulate shares amounting to Rs. 4 to 4.5 lacs approximately. My wife Smt Soma Roy Chowdhury also invested money in the Capital Market from her paltry earnings through private tuitions and L.I.C agency Commission. By investing in the Market for 7 (Seven) to 8 (Eight) years she created wealth amounting to Rs. 5 to 5.5 lacs. But in the last week of August 2007, we chanced to meet Mr. Sumanta Das, an employee of India Bulls Securities Ltd ( IBSL) of the Salt Lake Branch Office. He approached us for investment through IBSL. Accordingly the shares held by us were transferred for investment through IBSL. Our Client Nos. are CSL – 2196 ( Shri Tapash Roy Chowdhury ) and CSL – 2195 ( Smt Soma Roy Chowdhury ). At that time I , Shri Tapash Roy Chowdhury was made to sign in several blank papers and had to sign blank in a register as well. When asked I was told the signature were essential for opening the A/C. My wife Smt Soma Roy Chowhdury however, had not signed at all. But to our utter distress and agony we found our funds exhausted by the last week of October 2007 and the trading
contd…..


: 2 :

made through our A/cs amounted to Rs. 20 Crore and 27 Crore (copy enclosed) respectively. The signature of my wife, I am cent percent sure, had been forged and on my part I affirm that I placed no order for purchase or sale of any stock or Nifty whatsoever.

Madam, we came of a lower middle-class verging on to the borderline of a poor family, the entire loss of Rs. 10 to 10.5 Lacs(appox), which we accumulated over the years, within 2 months, pushed us in some sort of trauma for which we , i.e. my wife and I could make up our minds immediately after we were cheated. We know in the process we have delayed too much and made our case completed to you to deal with. I have, however, cent percent confidence in you that appreciating the circumstances under which we failed to take the correct decision in time, you leave no stone unturned to expose the conspiracy of the broking firm against us. The idea of foiling a fraud case against Indiabulls, “I can well feel” would have made our case stronger and on your part you would have carried on with the detailed investigation into the case. But as a petty employee of Private firm, how shall I find adequate time to pursue the case regularly? Moreover, we have neither the manpower nor the money power to match our contestant party. However, if you make an enquiry into the case and verify every statement of mine, I am confident of getting justice for I have the truth on my side which Indiabulls does have in the least in spite of its huge man and money power.

Now we look forward to your treating our cases not as individual ones, but as one or two of thousands of cases occurring all over the country. The Capital Market which as overcome the Global Recession so successfully, thanks to our Regulatory System, is about
to fail if it loses the confidence of thousands of retail investors because of the hawkish attitude of a very few mercenary Security Companies. More than that, where shall we, the retail investors – go to, unless you our Opposition Member of PARLIAMENT of our country to protect us from the mercenary brokerage firms?

Contd….

: 3 :

In this context I would like to inform you that I had written several letters to SEBI as well NSE in this regard but we are sorry to mention that neither SEBI nor NSE has taken proper investigation or they asked all relevant documents from the Trading Member, India Bulls Securities Ltd. We think it is very much pertinent in this case to see the modus operandi of each transaction for each day and by this way they can reveal the real picture of our unauthorized trading and can give proper redressal to us.


We hope that you’ll look into the modus operandi of some of the broking firms which are tainting the Capital Market and thus foiling all your earnest and persistent efforts in boosting the Market Economy through stringent measures.

Madam, we the commoners, hope not to be deprived of our rights and continue to get justice as long as you, the staunch supporter and dedicated soldier of our country at the helm of Opposition Party,i.e. Bharatiya Janta Party.


Thanking you and looking for your early action.
Yours faithfully,



(TAPASH ROY CHOWDHURY)



( SOMA ROY CHOWDHURY )

I have applied Home loan from Indiabulls Home loan (application number 267055) on August 2012. I have been in touch with Mr Anish (mob. # [protected]) with Koramangla Branch. The property name is Prithvi Holi Homes - Gottigere (On Bannerghatta Road-Bangalore).
on 7th August 2012, India bulls give me Loan sanction letter for amount 21.6 lacs. After submitting all the required documents and a answering all their queries on phone, and...

Dear sir/mam,

I Manoj kumar sethi Emp id:IBCL/19901 had joined since 01/12/2006.But some my personal reason i will regination of the date30/10/2007.So my final settlement cheque reached at indiabulls office but back office return the same at your HR.

Therefore i request you to kindly re-issue of my final settlement and sending my home address I shall be faithfull to yours.


Address are given details:

MANOJ KUMAR SETHI EMP. REF.HR/DEL/2006/IBCL/19901
QR NO.G/75 N I T CAMPUS ROURKELA
Dist-SUNDARGARH,ORISSA.
PIN:769008

Subject: Not getting PF withdrawal since Year 2010.

Dear Sir/Madam,

I Mohan Singh would like to inform you that I had a PF Account No.- GNGGN[protected] on behalf of my employer Indiabulls Commodities Pvt. Ltd. Since 2008. Sir I would like to inform you when I left the company in year 2010, I had applied for the PF Withdrawal in Oct 2010 at my company office and the application had been sent to EPFO Gurgaon from their end. At that time I had received an acknowledgement SMS of my application from EPFO Gurgaon. But After 6-8 months I received another SMS regarding the rejection of my application, further I went to enquired about the rejection to my company but they didn’t have received any information about the rejection from EPFO and asked me to visit the EPFO personally to know the status, so I did the same and went to EPFO on same day but from EPFO concerned officers I only came to know that request was rejected and all the document has been dispatched back to your company office. When I asked to check and tell me the reason of rejection so that I can rectify and apply once again, they told me that they don’t have any software and information about this at their end and push me out from the office with saying that go and put another application.
Further I went to my company and discuss all the matter with my company officer about the same, but still they don’t have any rejection information at their end and he also ask me to apply again as earlier so that time I put the another application in year 2011 at my company office. My company had sent the application through the blue dart courier to EPFO office and as same as earlier the acknowledgement SMS was received regarding my application for pf withdrawal. After the 6-8 months again as earlier I received SMS on my mobile in year 2012 regarding the rejection of application.

Dear Sir/Madam,

As earlier in 2010 again I went to enquired about my rejection of my application, I received same response from all the end. Once again I visit the EPFO office and I got surprised to know the reason of my application rejection by electronic printout slip given by the counter staff which was showing the rejection reason that my PF claim is already settled. I asked about the same to counter Staff and he sent me to concerned PRO (Babu) Mr. Nirmal at 1st floor section 19/5. When I asked Mr. Nirmal to provide the detail and rejection reason he told me that your application was rejected in year 2011 which is so earlier because he has joined the department after May, 2011, further he asked me to apply again and said that your claim will be settled soon this time. But then I asked him hardly to confirm me the reason of rejection and if you are not able to do so please refer me to your senior for that because after being two rejection I am not going to apply third time again, After that he get active and open the file and told me that your claim was rejected due to your father name mismatched in our record as it is showing here is Mr. TARA SINGH while my father name is Mr. Than Singh Rawat. Further He asked me to make a declaration letter from your company and apply once again with this letter. So I did the same and applied third time for my PF Withdrawal on 9/8/2012 by self at EPFO office Gurgaon.
So this is my kind request you to look in to the matter and assist me to get my PF withdrawal this time without any delay and rejection. And I also would like to request you to ask all the concerned officers of the EPFO Gurgaon to provide me the detail of all the rejections of both my earlier application along with the courier and speed post detail by which they sent the document or information to me and my employer regarding the rejection of PF Withdrawal. Further also provide the Travel allowance of three times visit to the offices from Delhi to Gurgaon which has been charged me Rs 100 per side all 3 times (100x2x3) with interest.

Further I am also submitting all the detail and evidences of my all applications from my end which is attached with this complaint letter so look into all the matter and resolve the withdrawal request as early as possible with providing me all the detail and copy of the document submitted by me with my earlier applications.

Note* Travel Allowance is also requested with interest.

With the expectation of positive response this time from you end. I will be very thankful to you in this regard and also expect that the system will improve so that no one can suffer like me in future because with these responses and complete event I always felt helpless in front of EPFO employees. We all should know about our responsibility if we treat the citizens like this it means we are indirectly cheating ourself and our country.

Date:
Place:
With Best Regards
Mohan Singh
Email ID: -mohan.[protected]@gmail.com
Mob-[protected]

i visited for pay Pre-payment of Rs. 325000/- For my home loan (Loan Account Number: HHLRAJ[protected] to Indiabulls Housing Finance Ltd Rajkot Branch and i met Mr. Vipul for that but he inform me you will be charge 2.50% for whatever amount you paid for Pre-payment on your home loan

As per new RBI guidelines there is no charges applicable for part payment for whatever amount please do the needful

I took a home loan from Indiabull but my experience is really very bad with the company. I wish to convey to all prospective borrower to avoid Indiabulls. before applying for loan their executive will agree to all your requirements but after disbursement he including his superiors will disown their commitments. You can just imagine that i was given commitment of disbursement within 7 days but it took more than a month and at the last moment when my payment date to seller was about to pass i was told to come to branch to sign loan agreement. when i went their they presented me blank form, i asked them to fill up it first before my signature but to my utter disappointment all including senior talked very cheap and assured me to fill up the form immediately after my signature still believing when i signed then they said it will take 3-4 hours to complete this task. They did know that i will not be able to wait for so long. They had assured that they will will provide me photocopy of filled up form but same was not done. Then assured me that i may leave and they will send me copy of the filled up form that was also not done. some how i got the copy but it was deliberately filled up with the conditions which were not agreed. prepayment penalty was shown as 2% against agreed term as nil. there were such other serious lapses, same could be fully resolved till date even after 5 months. I was also given commitment that my full EMI can be started after disbursement but they are taking pre-EMI interest though i am willing to pay full EMI right from starting. this very disappointing and i will never approach such worst financing company in future. some body please advise me how to proceed. They are worse than SBI. I used to think SBI as the unfriendly , unethical bank in terms of fare and transparent services. but Indiabull has crossed them also. I do not know who in this field can be trusted.

regards,

Ashok
[protected]