IndiaBulls — indiabulls is a fraud company and their agents are looter.

Address:

Kolkata, West Bengal, 700157

Last friday one agent from indiabulls called me at 2:26 pm (Phone number[protected] and asked me to buy banknifty 27600 /17th may-2018 call @ 2 rs. I was not at all interested as i had previous bitter experience with their agents (40k loss on nifty call). When i was not at all interested, he said
Bank nifty 17th may[protected] call will hit 17 rs in just 20 mints and they will recover all my previous loss but when showed my disagree to buy, he dropped the call.
Again that agent called me at 2:30 pm (Phone number[protected] and literally forcefully he bought (Over phone) 4000 qty @ 2.
At 3:05 pm, that agent called me (Phone number[protected] and asked to sell at 4 rs but when i said it supposed to touch 17 right and why you are asking me to sell, he replied it won’t go more and sell it at market price.
At 3:06 pm, that agent called me from different number (Phone number[protected] and sold 4000 shares @3.76 rs and said you made 1.76 rs profit per share.
I was under impression that i made a profit but when i got the statement in the evening i could see i made - 16707.19 rs loss and i was charged 2.5 rs per share brokerage for both buying and selling. Despite making profit i end up making 16k loss just because their brokerage.
This is the second incident happed with me. Last time i made 40000 rs loss for their nifty call.
I made several complains (As per their escalation matrix) but didn't get a single reply. Grievance/escalation desk everything is fake, just to showcase. They don’t act on any case.
I asked my relationship manager to share agent name at least so that i can raise fraud complain against him but my rm denied and dropped my call and not taking any further call after that.
Indiabulls is a fraud company. They have some fraud agents who loot money like anything from brokerage. Their intention is just to take high brokerage at any cost. They can go up to any level to meet their target.