IndiaBulls Complaints & Reviews

Hi Team,

It has been a very irresponsible attitude that the team is showing towards the customers. It would not only lead to dissatisfaction of customers but moreover it is spoiling the brand value of the organization.

I completely agree to what you have said as, I am facing the same kind of issue. I have submitted my documents almost more than a month back to Mr. Vijay Pal with the commitment of disbursement of the loan within a week’s time. My cheque (47410) is already cleared around two week back and apart from that I have paid a cash of Rs7500 to him. Now my builder is threatening me to charge interest on the loan amount, since the payment is not made as of date.

I tried chasing me but all the efforts are futile. I tried speaking to Mr Sharad who is the reporting manager of Mr. Vijay but no one is making any serious efforts towards it. I have been given false commitment by the entire team and in turn making my life difficult. Now I have left with no option but to knock the doors of legal authorities, if this is not resolved.

Your prompt response is awaited.

Regards,
Abhishek
[protected]
abhishek.[protected]@patni.com

FROM [protected]@gmail.com

DT 06-05-10

SIR/MADAM

1]WHAT KIND OF HELP IS THIS? U ARE GIVING STANDARD ANSWERS.

2]PL NOTE THAT IN CASE SOME IS PLAYING FRAUD U WILL BE HELD RESPONSIBLE AT YOUR OWN COST.

3]I AM DISGUSTED WITH YOUR REPLIES.

4]YOUR PEOPLE AT MUMBAI NEVER REPLY.

5]PL GIVE ME THE TEL NO OF YOUR COLABA/SENAPATI BAPAT BRANCH.

6]MY ID AND PASSWORD HAS NEVER REACHED ME. IT HAS BEEN SIPHONED OFF BY SOMEBODY ELSE I PRESUME.


KD RGS KULDEEP SINGH- MBA,LL.B

I have applied for an HL loan and given the document to Mr. Umesh and he has submitted the same to your office at Jagat Tower at Nagpur (M.S.).

Along with the document I have given a cheques of Rs 5510/- cheques no 383421 payable to Indiabulls Housing finance ltd.

The said executive has said that the cheques will be deposited only after the loan getting sanctioned, but the PF cheques is required beforehand.



But the cheques was deposited immediately the next day and the said case is not approved either.

How the processing fees will be debited without getting the loan sanction, this is highly illogical.

Not even the valuation done and legal expenses paid, since the document was incomplete and the process was not even started.



I have contacted the branch office also and Mr. Ajay Srivastava is now telling me that it is not refundable. It is the mistake of the executive who has misspelled to me and given a wrong commitment for that why I have to bear the cost.



This is a breach of commitment and I want my amount back since my loan is not getting approved.



Pls. update the situation so that I can take the necessary steps accordingly.



Vinod Mishra

[protected]

Nagpur

Dear sir ,

i will sent to you a copy of email to against indiabulls finance service ltd. & they never replied.
my complaint is against indiabulls is:
COMPLAINT :-three months salary issue......

i did not getting salary month of december-09, january-09, & february 09. my employee code was 156240.
my joining date was 10/12/2008. still i have no receive any status about my three months salary after one year waiting.....



these email copy which i sent to their hr office, md, chairman, & also customer care but they never replied to me,

first 2 times mail date : Thursday, 26 February, 2009, 3:24 PM
Friday, 27 February, 2009, 10:55 AM

second 2 times mail date: Monday, 2 March, 2009 4:42:33 PM
Mon, 16 March, 2009 1:59:45 PM

third 1 times mail date: Mon, 5 April, 2010 3:31:03 PM

my kindly request to you sir please take action against indiabulls finance service ltd.


Thanking you

Ashish Pandya
date : 6/4/2010









Fw: about salary third reminder after 1 year
From: Ashish Pandya <ashish.[protected]@yahoo.com>Add to Contacts
To: [protected]@indiabulls.com
Cc: [protected]@indiabulls.com; [protected]@indiabulls.com; [protected]@indiabulls.com; [protected]@indiabulls.com


[protected][protected][protected][protected]



Still i m waiting for ur replyyyyyyyyyy




Ashish Pandya
[protected]

----- Forwarded Message ----
From: Ashish Pandya <ashish.[protected]@yahoo.com>
To: [protected]@indiabulls.com
Cc: [protected]@indiabulls.com; [protected]@indiabulls.com
Sent: Mon, 16 March, 2009 1:59:45 PM
Subject: Fw: about salary second reminder


Respected Sir,

still i am waiting your reply but there is not response.
now what i do in this situation????????????/

plz do the needfull






----- Forwarded Message ----
From: Ashish Pandya <ashish.[protected]@yahoo.com>
To: [protected]@indiabulls.com
Cc: [protected]@indiabulls.com
Sent: Monday, 2 March, 2009 4:42:33 PM
Subject: Fw: about salary second reminder


fyi
--- On Fri, 27/2/09, Ashish Pandya <ashish.[protected]@yahoo.com> wrote:

From: Ashish Pandya <ashish.[protected]@yahoo.com>
Subject: Fw: about salary
To: [protected]@indiabulls.com
Cc: [protected]@indiabulls.com
Date: Friday, 27 February, 2009, 10:55 AM




--- On Thu, 26/2/09, Ashish Pandya <ashish.[protected]@yahoo.com> wrote:

From: Ashish Pandya <ashish.[protected]@yahoo.com>
Subject: about salary
To: [protected]@indiabulls.com
Cc: [protected]@indiabulls.com, [protected]@indiabulls.com, [protected]@indiabulls.com
Date: Thursday, 26 February, 2009, 3:24 PM


COMPLAINT AGAINST INDIABULLS FINANCIAL SERVICE LIMITED

Re: Complaint against Indiabulls Financial Services Ltd.
3rd Floor, TNW Business Center, Old Padra Road, Baroda - 390 015, Gujrat. Ph: ( 0265 ) Online[protected], 6622973, 6641055.


Respected Sir,

still i am waiting your reply but there is not response.
now what i do in this situation????????????/

plz do the needfull



COMPLAINT :-

i did not getting salary month of december, january, & february. my employee code is 156240.
my joining date is 10/12/2008. still i have no receive any status about my three months salary.




thanking you


Aashish Pandya
[protected]
baroda - insurance team

Dear Sir/Ma'am,

This is in regard to my trading account with IndiaBulls securities Ltd ,Ambala Cantt.
They always boost about their low cost trading and prompt and dedicated Relationship Managers at branches to grab new accounts in their dragnet.
Once the client starts trading with them they adopt quite a shrewd approach to cause a dent in the client's pocket.

When I visited IndiaBulls Securities Ltd office at Ambala Cantt , the RM while disclosing all terms and conditions,procedures and charges related to my account told that brokerage percentage at Cash Intraday at NSE will be 0.02 of the the transaction amount. After a couple of weeks of trading with them I noticed in the Electronic Contract Notes that they were charging the brokerage at the rate of 0.05. The very next day I brought this issue to my RM's notice and she was equally surprised to know.

Then to compensate the exess brokerage charged my brokerage was reduced to 0.015 at cash-intraday.On the next day I did some transactions in my account and was shocked to notice that the brokerage that was being charged was 0.03 on the transactions I did at cash-intraday.

Then again I informed my RM about the fact and again she had no clue how that happened.After few days when I again inquired into the matter ,I was told by my RM that this excess brokerage was because of some complicated formulaes on the basis of which IndiaBulls calculates brokerage.
All through my trading days with IndiaBulls I was kept completely unaware of their mysteries basis of calculating brokerage.
When I asked them to reimburse the loss there was no such policy.

This highlights the inefficiency in regard to disclosure of vital information at IndiaBulls and customer harassment after opening an account with them.With my bitter experience I am sure to give a poor rating to IndiaBulls Securities Ltd.and would never ever recommend them to any one.

I look forward for an urgent and appropriate action against IndiaBulls so that next time onwards they are loud and clear in telling their correct charges before opening the account. Hope the authorities would take note of my request.

Thanking in advance
Aanchal Aggarwal

I have opened a Trading account with Indiabulls after there repeated followup.However i was more than happy with my ICICI Direct Account -(Trading with them since last couple of years) but since they charge more brokerage as compared to others hence was looking to open another account.

These guys follow-up and promised me brokerage of 0.2% on delivery and 0.02% on intra-day - irrespective of amount of trade or quality of trade.I repeatedly ask them to send me this in writing/mail-they said that they are giving this from there special rights and hence can not give you on mail.Asked me to believe on them and on the last page of the application form they mentioned the same brokerage.

Out of faith i didnot get photocopy of the same as a proof.

When i got my userid and password and asked them to now confirm me my brokerage on mail as now i am part of your family - they still not mailed me.

every time I write a mail they used to talk over phone - keeping no scope of any written proof with me.

However based on there verbal commitment i traded first for Bharti Airtel - I got the brokerage committed to me i.e. 0.2% for delivery.I was very happy that at least what they commited is being reflected here.

Now comes the bad part.In my very second trade with Anulabs for which i bought 1000 shares they charges enormous brokerage.

When contacted over mail to (RM/BM and help desk) every body is passing ball here and there and no body is responding my mail properyly and addressing my query appropriately.

RM contacted me and said that you have bought shares of low values and hence more brokerage was deducted - i will get it rectified for all types of shares.

I asked her to rollback the extra brokerage charged - she said that is not possible however rest assured me that now onwards you will get the brokerage as committed to you.

I wrote mails to help desk and they simply forwarded that to RM/BM and gave me the email id of VP of the Branch.

Again VP also called me -(He also not responding me on mail).He said that the brokerage charged against Anulabs is right.When i asked him that this is not what committed to me then he said that do you have any written proof.

These guys are simply talking over phone and giving no written response on mail.

I lost my 900/- as account opening charges. Also they blocked 500/- and said that this you will get once you close the account.

I asked them send me the detailed process for account closure so that i may wind up this as soon as possible.

I have such a bad experience with this company.There is no transparancy and they are not doing justice with the client.

SIR, IN HVE AN DEMAT ACCOUT IN INDIABULLS SECURITIES LIMITED IN SEC-15,MAIN MRT FARIDABAD(ACNO-FB-2110).IHAVE PURCHASED100SHARE [protected]@85.30 DT-19.01.2010 + 60 SHARE [protected]@82.95DT-20.01.2010 & MADE PAYMENT BY CH NO-012375 AMT-13600 DT21.01.2010 (GRACE TIME BY COMPANY 7DAYS).OTHER I PURCHASED [protected]@81.25DT[protected] ,[protected]@77.45+100SHARE [protected]@78.80 & MADE PAYMENT ON 25.01.2010.CH NO-012377 AMT-24500.0N 27.01.2010 I HVE PURCHASED 100 SHARE [protected]@75.55,[protected]@74-60 SUZLON. ON[protected] AT 8.55 A.M THEY THREATENED ME THAT YOUR OUTSTANDING IS 38000 WITH US OUT OF WHICH UR CHEQUE OF RS 24500 IS WITH US.AND NOW EITHER YOU WILL GIVE US DD OF RS15000 OR WE WII CLEAR YOUR POSITION BY RS15000.AND WE WII NOT ACCEPT ANY GOVTBANK CHEQUE.AND BETWEEN 8-55 A.M TO 9.30 A.M THEY HAVE THREATENED ME 8-10 TIMES.WITH FORCELY THEY HAVE PRESSUREISED ME TO SELL OFF 200SHARE OF SUZLON WHICH I DID .AND SUFFER LOSS OF 500RS(APPROX).THEY HAVE NOT SEND MY CHEQUE FOR CELERING IN TIME & BLAMING & THREATING ME THAT WHICH IS WRONG.THEY WILL CHARGED INTREST FOR LATE PAYMENT I HVE TO SUFFER IT WITHOUT ANY FAULT.FOR INT ALSO RM(VIKAS).TOLD ME THAT WE [protected]@18%PER YEAR.BUT THEY R CHARGING @22.25%PER ANNUM .I HVE GIVEN SO MANY REMINDER TO MR VIKAS(R.M) BUT WITH NO RESULT.I REQUEST U TO STRICT ACTION AGIANST MR VIKAS & OTHER CULPRITS.IF NO ACTION IS TAKEN AGAINST THEM THEN I WILL COMPEL TO TAKE THIS MATTER TO SOUGHT OUT FROM LEGALCHANNEL.

I want to compalint against India Bulls Pvt Ltd, a finance company with branches all over India.

The company gives no National Holidays, Forces the employees to work on Sundays and late till nights (even beyond 12:00 am and sometimes working till 3-4 am). The company has no regards for its employees and do whats suits them best. The company gives holidays as per its convenience. Employees have worked on 26th January, 15th August, 2nd October. The sensitive areas for example in Delhi like Karol Bagh, CP etc are closed but other branches are operational. Every employee no matter what has the right to get holidays on National holiday days and Sundays. I understand when there is lot of work and important deadlines to be met working on Sundays is fine but Indiabulls has made it a norm. The company feels if they are paying its absolutely fair to suck the employees blood. They just don't care that the employees also have some personal/family life. If one complains then obviously the attitude of the company is if the omployees can't handle the pressure then they might as well leave. What a solution!!!!!!!

I request you to pelase take some action against Indiabulls becasue in the name of meeting targets and beating their competitors they are making lives miserable for their employees!!!!!!!

Dear sir,

Request you to pls help me out to get my relieving letter and my salaries from Indiabulls financial services ltd . I, Sushil Kumar Dixit, has joined indiabulls financial services Ltd as a Sales manager for panipat location on dated 22nd May 2008.

My concerns are:

A) Salary:

1-From January 2009 onwards I was not getting my salary while as per my salary slip it was showing transferred.

2-I had received my F-16 which is also showing my salaries from January onwards in continuation and tax has also been deducted.


B) Relieving Letter:

1- Since in the month of April 2009 when I heard that my reporting manager has left the job and also nobody was giving me proper response regarding the same and also about the reporting…..and also the mail ID’s of me and all my colleagues were locked(whose details were also not provided by anyone) .

So as per the situation I stop to go to office after 27 April 2009.

2- Letter on when I talk to the official guys in indiabulls about my relieving letter they denied to give anything.


So Request you to kindly help me to get resolve as i am facing a big problem to get my new assignment .

HI ALL

I JUST HAD OPENED A COMMODITY A/C WITH THIS FIRM BY THE R.M NAMED TINA BOSE AN EMPLOYEE OF,
STEPHEN HOUSE ,KOLKATA-01
DEAR ALL
DONT TRUST ON THIS RM COMMITMENT THEY R TOTALLY BOGUS AND NOTHING IN WORK IF YOU WANT TO HARASS AND DONT WANT TO DO BUSNIESS THEN MUST OPEN A A/C WITH THEM

Never trust these Relationship Managers of Indiabulls. This caution is for all the people who are thinking of handing over their hard earned money after being presented a rosy picture by these fellows.

I have just opened a demat account with Indiabulls when their RM approached me with a promise of an assured return and make me invest Rs. 10K on 31st Dec 2009 claiming they have some inside information about the market on that day. The next day I realised that I have lost Rs. 2000 and the worst part was that the brokerage that was charged on the investment was Rs. 6000. So the Rs 10K reduced to Rs 2000 in one day.

The Relationship Manager then washed her hand off by saying that they can't help it. They never told me about the high brokerages, thus cheating me in the process for their selfish needs.

Respected Sir,

My name is Shashikant R.Sharma. My EPF no is HR/GGN/28509/101 I havae submitted pf withdrwal form before 6 months but epf department does not give me clearence & statements of pf deposited.pls suggest me that how i recieve my money. My sincere request to you is to please look into this and help me get my money as early as possible. Looking forward for your help & guidance.


Regards,
Shashikant R.Sharma.
[protected]
Nashik.

I had tried contacting my reporting head, but nobody is responding me,
i have been frustrated after calling them again and again &i have
also frustrated to sending mail again & again please let
me know the professional way to get my salary and salary slip.
if you are able to help me then revert me back please.
back . my Employee id is 163827 my circle head is Mr Amiteshwar Choudhery
& My Reporting Maneger is Mr Rajeev Kapoor.MUM-Colaba Branch
--
Thanks & Regards,
Vaibhav Nigam
[protected]

I am an ex-employee of Indiabulls Securities Ltd., Dhanbad Branch with employee code ISL/8290. Inspite of very good performance previously I have to resign from my service due to recession last year. As per company norm I have served the notice period of 1 month. But unfortunately even after several reminder they have blocked my salary of 50 days. Please guide what to do.

Dear Sir/Madam,

My name is SHASHIKANT R SHARMAand EPF No. is HR/GGN/28509/101. I have submitted my PF form on MARCH, 2009 and i was told that i would get the amount in 45 working days or a max of 3 months, however still now i am waiting for the clearence. I have called in EPF Office gurgaon to inquire about the status but the PRO said that it will take 6 month in case of EPF Gurgaon. Please find attached the recorded conversation with PRO Gurgaon.

I would request you to kindly look into the matter and do the needful ASAP.

Regards,
shashikant sharma
[protected]

Dear Sir/Madam,

Sub. : Non Credit of 2100 Eq. Shares in D.P. Account of Indiabulls Power Ltd.

With reference to above I have applied for 2100 shares of IB Power ltd. vide application no. 43423492 and have been allotted 2100 shares on 25/10/2009. Due to bidding mistake CDSL D.P. Account Number has been taken wrong. As soon as I come to know the mistake immediately I send a scanned copy of client master Id of my D.P. Id by E-mail to Karvy Computer Share (Registrar) on 26th October 2009 and acknowledged receipt by executive of Karvy Computer Share when I called them and I have been assured credit of Shares within 2 days in my account. But after several calls shares have not been credited upto 31st October 2009 when I called on 31st October 09 morning 11.00 A.M. I have been assured credit of shares within 2 hours/before 3.30p.m. but no credit has been done upto 5th November 2009. On first day of listing price in NSE was 45.5 per share but In absence of delivery I could not sale shares on first day of listing. Karvy computer share intentionally delayed 9 days due to that I had to sale shares @Rs. 30 per share. Due to mistake by Karvy computer share I had to suffer loss of Rs. 15.5 per share on 2100 shares (Total Loss 2100*15.5=Rs. 32550. You are requested to look into the matter and take strict action against Indiabulls Power Ltd. And Karvy Computer Share (P) Ltd. for their intentional mistake of Non-credit of Shares in My account on or before listing and ask to pay my loss Rs. 32550. I will be glad to provide more informations in this regard if required by you.

Regards,

Bajarang Lal Agarwal

If the company have no fundamantal prepartion & without any proper documentation why govt. approve the IPO for investment. ... I have submitted application of 300 share of Indiabull power 45/- it is now 33/- on very second or third day... who is playing our money over that ... can u check the companies proper details by CBI might be they are involve in paying a roll of terrarisum & curruption..... this is a fraud company .. & they want our country's money to export for terrorisum ok ...

socho socho kuch india ke bareme ... eeesiii company india ko lut ke dusare deso me pesa bhejati he... vo to pakka... he.. aese locha marati he... sab jagah pe .. aaap logo ke hath me .... power hai.. to fraud company indiabulls power ka power nikalo des ke bahar.. mili bhagat hai.. sab .. under under minister or sab log mile jule haii.. pese se kharid liya heee .. esaka share ka bhav dekho kitana girta hai... kyu ki pesa bahar bej raha heee. india se ... india ke. logo ke sathe bewafai par utar ate.. he.. halkat log .. dum to hota nai hai.. or indiabulls power ipo nikal ke beth jate. hai.. bholi bhali public ko lutane ke liyeee. sabse bade des ke dusman to yee. loga he.. jo mahenat ka pesa akho ke samane se chori karlete hai..

I am having a Demat Acccount with Indiabulls Securities Ltd. where my client ID is10310147 and Trading Code is C43682.

I find that they are frequently charging me DP Charges. The latest example being as follows:

--Bill No.ISLNDLSBILL/08-09/LPP-008182 for the period 1.08.2009 to 31.08.2009

-30.4.09 DP Charges for Bill No.1845 Dt.30.04.2009 Rs.44.12
31.05.09 _--D[protected] Dt.31.05.2009 Rs.441.20
30.06.09 --D0--- 34282 Dt.30.06.2009 Rs.319.87
31.0.09 -D[protected] Dt.31.08.2009 Rs.77.21

Being a Senior citizen and novice in Share Trading, I do not understand the logic behind charges. I would therefore look into this and inform me whether they are correct in charging so much amount to me.If not, then they should be asked to refund the amount charged by them in the past and present.


Thanks.


Mrs. Anita Sahni

In 2004/2005 my account was opened by ahmedabad branch manager - vanesh panchal. Subsequently Blank Stamp papers were forwarded to sign and return. I refused to sign blank stamp papers. I objected to such modus operandi. My paid and purchased shares were blocked and not delivered. All my outstanding trades were squared by them. On objecting to the branch manager, he pleaded by mistake has been done. all such trades were again done by them in my account and fresh trades created by them. for these two side trades, a rate difference of Rs.1.25 lakhs app.was found and was promised by branch manager to be paid, but remains to be paid till date. Even my paid and purchased shares remains to be delivered till date. Complaints to NSE and SEBI made no sense, as these authorities are more concerned about their international image and not much concerned about the complaints being faced in day to day by local small investors. Civil suit and criminal complaint is filed by me and are pending. Money Civil suit takes years, decades to settle. In one Criminal complaint, directors have obtained stay order from high court, stating on affidavit that I had refused acceptance of High Court summons. Naturally, when this aspect shall be highlighted to the Judges, it shall definitely go against me. Fact is the date mentioned in the affidavit, I was out of India. But on record, STAY is obtained on AFFIDAVIT for my refusal to honour Court summons ? Such are practises of Senior Advocates In Gujarat High Court and such are practises of Indiabull securities renowned Directors. these people are aware that with senior advocates, they can have their say and way. For poor enforcement of Laws, advantage is being taken by such persons. Knowingly, enforcement of laws is not made competent. Cant help it. In second criminal complaint, despite dates since last 4 years, nothing has materialsed. Order to issue summons is still pending after 4 years around. MERA BHARAT MAHAN. Jai hind.

Hi

MY name is Neetu vijay and i was to apply a home loan through indiabulls home finance MUmbai khar branch.They had intiially approved my loan for Rs 38lakhs and taken all my documents and some security cheques stating that this is the regular procedure incase if my EMI ECS bounces and i gave them 24 cheques of my HDFC bank a/c.They were supposed to charge me a processing fees fo 1.25% for the loan amount against disbursement but instead of doing so before they could even disburse my loan of 38 lakhs they deducted Rs 38000/- as processing fees out of my HDFC a/c using one of the cheques i had given as security which needed to be used if my EMI bounces.Then they rejected my loan stating that they did not get a positive report about me from my last job however ICICI bank had then cleared my laon on the same property.If they did not give me the loan for any reason what right they have to deduct the processing fees, I have contacted them several times and had not got any response from them and they do not even answer my calls.

There is a creadit manager called Mr Urang phone numeber [protected] and his boss
Mr Ketan shah is aware of my case and am sending you the details of the transaction which india bulls had done in to my account
On 10/7/08 they had deposited a cheque in to my a/c of RS 38000/-.

This was the cheque given to them as security against the loan that they were supposed to disburse for my home and all these cheques were given in advance to them.

So even before they processed my loan they deposited my cheque and took this amount out of my account.

I have send a letter to them after makiing an effort to call them and sort this matter they have been just assuring me but its been an year but i have not received this amount.



Regards
Neetu
[protected]