Karvy Complaints & Reviews

1.Some general points to ease the case study :- (a)Karvy Stock Broking Limited is the broking arm of Karvy group. Karvy Stock Broking Ltd (KSBL) as the name implies is a stock broking company and we are their clients. People refers KSBL as Karvy shortly.We trades (buy and sell) shares of stock through KSBL.(b) Demat is an electronic system of preserving share of investor and pool account is a central account for broker to facilitate frequent purchase and sells of clients’ shares.(c) .My name is Saraswati Karmakar, DP ID : Karvy Stock Broking Ltd (IN300394) :Client Id :15031035, Trading A/c: 1390068, Email id : [protected]@rediffmail.com (Ref may be required for Karvy Stock Broking Ltd.).
2.I am an investor not trader at all hence it is not required to keep my shares in pool account as there are no frequent trades specially frequent sell from my end and all of my trades are of delivery nature. Then why KSBL kept my delivery nature shares in their pool account? They kept my shares in their pool account intentionally and they have pledged our shares to the Bank as co-lateral for their own purpose.
3.I have been reminding KSBL several times to transfer my shares from their pool account to my demat account since 2 years (approx). But KSBL is not doing so. They are killing time.
4. The present cost of my shares which are illegally in their pool account is more or less INR 30.00 Lac and their dividends extra.
5. I have no payment dues with KSBL.
6. Investor Protection Fund of NSE has paid me INR225313.75 only and they said balance is in litigation.
7. I am a woman and KSBLhas made me a beggar.

(8)I am requesting to transfer my all shares to demat account (DP)
(9)Most of the times KSBL does not pick up phone call made through their customer care No. [protected] and e-mail from our end sent through their customer care Id : [protected]@karvy.com returned with automated reply -
[Dear Customer
Thank you for writing to us.
Please note that your query is being looked into on a priority basis and we shall update you regarding the same at the earliest.
Your patience and cooperation in the interim will be highly appreciated.
We assure you the best of our services and look forward to your continuous patronage.
Thanks and regards,
Service Desk]

(10).KSBL has stopped share trading since 02.12.2019 and expelled by NSE/BSE on 23.11.2020 being defaulter.


(11). I am attaching three documents converting them in JPG photos accordingly in “Add Photos/Videos”. Here I am writing some details against each document chronologically.
(i) My Holding Statement of shares of different companies released by Karvy Stock Broking Ltd (KSBL), E- Mail Ref :
[ From: Amritlal Dutta/BROKING/Kolkata/Business on Mon, 04 Jan 2021 14:51:24) ]

This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as HSP1 to HSP2 (HSP = Holding Statement Page)
Here against “Type” column DP refers to Demat account/ Depositary Participant & BEN refers to Pool Account of share broker ( here KSBL)/Beneficiary

(ii) Letter of NSE for Investor Protection Fund including mismatching regarding shares details, E-Mail Ref : [From: defaultisc on Fri, 07 May 2021 15:09:16 )]
This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as IPFP1 to IPFP2 (IPFP = Investor Protection Fund Page)

Following discrepancies are shown in document (i) of NSE & in document (ii) of KSBL:-
Shares of Ansal Buildwell Ltd are not mentioned at all which will be 4500 Nos in total.In document (i) i.e. in Holding Statement it is shown as DP = 1260 Nos. + BEN = 3240, Total = 4500 Nos.However total 4500 nos is correct.
Karvy’s holding statement shows D B Reality shares in Demat Account (DP) = 4000 Nos & KSK Energy Ventures =34302 Nos.But document (ii) of NSE shows 1000 Nos & 25000 Nos respectively.
Karvy is to clarify as mentioned in 2nd row of document (ii) “No trades found for 115000 shares of KSK
ENERGY, 310 shares of SARLAPOLY - SARLA PERFORMANCE as per trade data.”
Karvy is to clarify as mentioned in 5 th row of document (ii) “Net receivable position for SARLAPOLY is
11525 shares (out of 12200 shares claimed) hence 675 shares of SARLAPOLY are considered to be inadmissible

(iii)Consolidated Ledger Statement, E-Mail Ref : [From: Amritlal Dutta/BROKING/Kolkata/Business on Tue, 09 Feb 2021 10:55:29 ]
This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as CLSP1 to CLSP12 (CLSP = Consolidated Ledger Statement Page)
Document (iii) shows I have no payment dues reflects in closing balance 0 (zere) in the last row/line of continued photo page no CLSP12.
What is more I had debit balance of INR15964.58 which has been refunded to me and already credited to my Bank Account on 04.04.2020 by KSBL.This debit balance was mainly for dividends of shares of companies. The companies have also declared dividends thereafter whose ex-dividend dates have been over before enough. But though KSBL sent dividends in the year 2020 they have not sent dividend this year.
Studying ledger statement thoroughly it is evident that I am purely an investor I have rarely “sale trade”, I have only piece meal” buy trade” to accumulate shares for long term holding.
(12) My name is Saraswati Karmakar
DP ID : Karvy Stock Broking Ltd (IN300394) :Client Id :15031035, Trading A/c: 1390068, Email id : [protected]@rediffmail.com,

KSBL's website : www.karvyonline.com

1.Some general points to ease the case study :- (a)Karvy Stock Broking Limited is the broking arm of Karvy group. Karvy Stock Broking Ltd (KSBL) as the name implies is a stock broking company and we are their clients. People refers KSBL as Karvy shortly.We trades (buy and sell) shares of stock through KSBL.(b) Demat is an electronic system of preserving share of investor and pool account is a central account for broker to facilitate frequent purchase and sells of clients’ shares.(c) .My name is Saraswati Karmakar, DP ID : Karvy Stock Broking Ltd (IN300394) :Client Id :15031035, Trading A/c: 1390068, Email id : [protected]@rediffmail.com (Ref may be required for Karvy Stock Broking Ltd.).
2.I am an investor not trader at all hence it is not required to keep my shares in pool account as there are no frequent trades specially frequent sell from my end and all of my trades are of delivery nature. Then why KSBL kept my delivery nature shares in their pool account? They kept my shares in their pool account intentionally and they have pledged our shares to the Bank as co-lateral for their own purpose.
3.I have been reminding KSBL several times to transfer my shares from their pool account to my demat account since 2 years (approx). But KSBL is not doing so. They are killing time.
4. The present cost of my shares which are illegally in their pool account is more or less INR 30.00 Lac and their dividends extra.
5. I have no payment dues with KSBL.
6. Investor Protection Fund of NSE has paid me INR225313.75 only and they said balance is in litigation.
7. I am a woman and KSBLhas made me a beggar.

(8)I am requesting to transfer my all shares to demat account (DP)
(9)Most of the times KSBL does not pick up phone call made through their customer care No. [protected] and e-mail from our end sent through their customer care Id : [protected]@karvy.com returned with automated reply -
[Dear Customer
Thank you for writing to us.
Please note that your query is being looked into on a priority basis and we shall update you regarding the same at the earliest.
Your patience and cooperation in the interim will be highly appreciated.
We assure you the best of our services and look forward to your continuous patronage.
Thanks and regards,
Service Desk]

(10).KSBL has stopped share trading since 02.12.2019 and expelled by NSE/BSE on 23.11.2020 being defaulter.


(11). I am attaching three documents converting them in JPG photos accordingly in “Add Photos/Videos”. Here I am writing some details against each document chronologically.
(i) My Holding Statement of shares of different companies released by Karvy Stock Broking Ltd (KSBL), E- Mail Ref :
[ From: Amritlal Dutta/BROKING/Kolkata/Business on Mon, 04 Jan 2021 14:51:24) ]

This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as HSP1 to HSP2 (HSP = Holding Statement Page)
Here against “Type” column DP refers to Demat account/ Depositary Participant & BEN refers to Pool Account of share broker ( here KSBL)/Beneficiary

(ii) Letter of NSE for Investor Protection Fund including mismatching regarding shares details, E-Mail Ref : [From: defaultisc on Fri, 07 May 2021 15:09:16 )]
This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as IPFP1 to IPFP2 (IPFP = Investor Protection Fund Page)

Following discrepancies are shown in document (i) of NSE & in document (ii) of KSBL:-
Shares of Ansal Buildwell Ltd are not mentioned at all which will be 4500 Nos in total.In document (i) i.e. in Holding Statement it is shown as DP = 1260 Nos. + BEN = 3240, Total = 4500 Nos.However total 4500 nos is correct.
Karvy’s holding statement shows D B Reality shares in Demat Account (DP) = 4000 Nos & KSK Energy Ventures =34302 Nos.But document (ii) of NSE shows 1000 Nos & 25000 Nos respectively.
Karvy is to clarify as mentioned in 2nd row of document (ii) “No trades found for 115000 shares of KSK
ENERGY, 310 shares of SARLAPOLY - SARLA PERFORMANCE as per trade data.”
Karvy is to clarify as mentioned in 5 th row of document (ii) “Net receivable position for SARLAPOLY is
11525 shares (out of 12200 shares claimed) hence 675 shares of SARLAPOLY are considered to be inadmissible

(iii)Consolidated Ledger Statement, E-Mail Ref : [From: Amritlal Dutta/BROKING/Kolkata/Business on Tue, 09 Feb 2021 10:55:29 ]
This document is attached in the form of jpg photos in “Add Photos/Videos”section of this Complaint Registration Form named as CLSP1 to CLSP12 (CLSP = Consolidated Ledger Statement Page)
Document (iii) shows I have no payment dues reflects in closing balance 0 (zere) in the last row/line of continued photo page no CLSP12.
What is more I had debit balance of INR15964.58 which has been refunded to me and already credited to my Bank Account on 04.04.2020 by KSBL.This debit balance was mainly for dividends of shares of companies. The companies have also declared dividends thereafter whose ex-dividend dates have been over before enough. But though KSBL sent dividends in the year 2020 they have not sent dividend this year.
Studying ledger statement thoroughly it is evident that I am purely an investor I have rarely “sale trade”, I have only piece meal” buy trade” to accumulate shares for long term holding.
(12)My name is Saraswati Karmakar
DP ID : Karvy Stock Broking Ltd (IN300394) :Client Id :15031035, Trading A/c: 1390068, Email id : [protected]@rediffmail.com, (This may be required by KSBL to connect up the case.)

On our request, Mr Waseem employee of Karvy Stock Broking Limited sold 42 shares of Novartis India Limited at Rs 715 and 14 shares of Reliance Industries at Rs 1451.60 per share on 8/11/2019 and assured an amount of Rs 50, 352 to be credited into my saving bank account. We followed up with Karvy number of times and they were assuring of payment only through words and continued to postpone the date of payment, . We even met the officials of the Karvy Stock Broking Limited, but no payment has been recieved from Karvy till date. We sent a reminder letter to their Head Office at Hyderabad on 2/07/2020. There was no reply from them. We have filed a complaint with SEBI on 10/12/2019, which has been acknowledged by SEBI, Chennai.
We want Karvy Stock Broking Limited to pay Rs 50, 352 along with 24% interest from 8/11/2019 to till date.
Client Name: Mrs Jamuna Viswanath
Client Code: 10013906
Client ID: 19618152
Client Address : 54, Athreya, 11th Main, 30th Cross, Banashanakari 2nd Stage, Bangalore 560070

Dear KArvy,

have not received my Shared from Your Pool Account to my demat Account.
My Trading ID was 482733.

pLEASE dO IT ASAP.
mY pH nO: [protected]

I have my shares with Karvy.. but I have already submitted my account closure form and advised them to transfer my shares to my new Dmat account .. no response.. till now my shares r stuck

Dear Karvy many shares are not transfered in IIFL account from ac 4411278 to new account which were with karvy BEN account.
Please return it.
Regards

My Karvy trading account 585438 migrated to IIFL but my holding not transferred.may times raised the issue with Karvy but they not respond.please transfer my pool account holdings to IIFL account....

Hello Sir/Ma'am
My email id is not registered in karvy how can I get the ledger and statement because I am not able to login
Please help me
Client Code : 916028

Hello Sir/Ma'am
My email ID is not registered in karvy
How can I get the ledger and statement because I am not able to login in portfolio.karvy.com
Please help me
Client Code : 916028

My name is shashi kumar singh and my client id in karvy A[protected] When karvy account migrated to IIFL then my karvy pool account shares holding not showing in IIFL account. My 699 securities from defrent company are in karvy pool account. kindly please transfer from pool account to demat account of mine so i can transfer to another demat account.
Regards...

After karvy accounts have been migrated to iifl my share holdings from karvy to iifl addre not showing. Whom to reach out to ? karvy must address this concern seems they're fleecing money and shares from customer accounts .. no solution for almost 6 months after writing numerous emails to karvy...

Sir,
this is my 10th mail for an update of transfer of shares to demat. the shares status still shows demat instead of free in the account statement maintained by schil.

following are the details of my fathers joint account in shcil:
name: sanjay gupta & vivek gupta
client id: 40529853
dp id: in301330

this is regarding the transmission of physical share certificates of reliance industries to demat account. the matter is still pending since may 10th, 2021. the shares are still showing under demat instead of free. kindly process the shares and resolve the issue as soon as possible.

the transmission of shares is still not complete.

certificate numbers: 59697431, 59697430

find attached the share certificates.

suyash gupta
son of mr. sanjay gupta

prayagraj

mob. [protected]
mail [protected]@gmail.com

Dear Sir / Madam
My name is Vanti Devi. My client id is 4061881 and my DP ID is IN[protected] in karvy .the shares of ICICI Prudential Mutual fund is 10 and Yes Bank shares is 1632 and ceat 50 shares in my account it is in not in my dp it is in the pool account.kindly please transfer from pool account to demat account of mine so i can transfer to another demat account. mobile no is [protected]
Regards

My client code with Karvy was 385428. As told by Karvy my securities have been shifted to kotak securities with client code ZRXYH. But what I can see are few securities missing namely

LIC HOUSING FINANCE LIMITED- 94 SHARES
PERTRONET LNG LIMITED- 14 SHARES
PUNJAB NATIONAL BANK- 5 SHARES
RELIANCE INDUSTRIES LIMITED- 6 SHARES

can you please help me get my securities into my new account.

Sir, I am holder of reliance polypropylene 100debentures under master folio no74671721 cert.no 00042702.now since polypropylene stands merged with reliance ind.i have not been alloted shares of RIL, no divedend has been paid to me.pl.guide how to know present status of debentures mail address [protected]@yahoo.co.in, mob no [protected]

My father has invested in IDBI Deep Discount Bond '96 an amount of ₹5300.
I want to know how can I redeem it.
Folio No. FDDB0586226

My account has been transferred to IIFL Securities along with few securities but I had another
Type -Company Quantity
BEN - ICICI BANK LIMITED (ISIN:INE090A01021) - 10
BEN - SBI LIFE INSURANCE COMPANY LIMITED - 20
Shares lying in Pool. Those in Pool has not been transferred.
Also had the Fund balance in Karvy Rs. 44090.28 /- which i have not received

Fund balance in Karvy Rs. 44090.28 /-
Client Name: BHIMAPPA BALAPPA NADAGOUDA
Client Code: 47701429 DP Id: 13014400 Client ID : 03730955

Till now my shares are not released from pool account, no body from Karvy is not responding, approximately I should get 2 lakh from my account for the shares in pool account..

My account has been transferred to IIFL Securities along with 20 nos RIL shares but I had another 5 nos RIL Shares lying in Pool. Those in Pool has not been transferred.

My Client ID : 17574728
Trading Id : 2282981

Sir i was client of karvey. my client id is 4003221. my shares were in pool account. my account has been transferred to axis securities. my demat account has been transferred to IIFL securities. where are may shares? whether still in pool account of karvy or transferred in my demat account . pls inform me . if not transferred then transfer immediately . i have already suffered loss.
abhishek
[protected]