Karvy Complaints & Reviews

I have submitted a transfer request for my holdings to ICICI Direct only two stocks got transferred now after long struggle able to transfer few more to IIFL but still one stock (Granules ltd) is missing
KarvyId- KM1000599

Dear Sir,
I have above 100 Nos. Shares of Jindal Vijayanagar STEEL Ltd, I have purchased these shares on dated[protected]. Now I want to sell these shares. Since the company has changed name. We had not get a new share so Kindly Please issue a new certificate.

Following are the detail :
DATE[protected]
Name of holders:- DINESH PRASAD
SHYAM LATA DEVI
UMA SHANKAR SAHU
Certificate no:- 3092609
Regd Folio No. JVS0284892
Distinctive No. [protected]-[protected]

My request with KARVY to close my Demat account -IN[protected] and trading account 2062791 and transfer my holding to my DP IN,[protected] with SCHIL in my same name - Pragya Saxena had been declined on 13th Oct, 2020.
I have also complained to SEBI and scores but they advised me to contact to karvy only.
No solution and no redressal.
Pl take the matter and advise me accordingly.
Pragya Saxena
[protected]

Two of the scripts from KARVY hasn't been transferred to IIFL or AXIS-DIRECT. Those two were in KARVY trading account. Whatever are there in DEMAT account, I have got them transferred to ZERODHA account. I have attached file about the two scripts which I'm not find anywhere in any of the DEMAT account.

2092430 INE530B01024 IIFL FINANCE LIMITED 4
2092430 INE148I01020 INDIABULLS HSG FIN LTD 20

Hi,

My father is holding a IDBI Deep Discount Bond, 1997 having below details:

Folio No. FDD138724
Holders Name: Sadan Lal Sahu
Date of Issue of Bond: January 31, 1997

I tried reaching out to Karvy, however no response was provided. Let me know the process to redeem it.

You can reach out to me on below details
Vibhor Sahu
+91-[protected]
Email: [protected]@gmail.com

Hi,

I am Pallavi Chavan and my Franchise code is S286. I have sent email regarding refund of my security deposit amount but I haven't received any reply..

Please do the needful at the earliest.

Pallavi Chavan
[protected]

Tata steel shares 50 qty purchased through Karvy were held in pool & never transferred to my account with Client Code: 4293244,
DP:[protected].
Since Karvy has been barred by SEBI, how do I get the shares transferred to other demat account?

Im Ayushi Upadhyay, ex employee of karvy stock broking ltd (Hyderabad head office) Employee id: 1019581.
My full and final settlement is due with karvy for more than one year now. They sent the mail but never sent the amount.
Please resolve the issue.

It is submitted that I Dr. Anjali Chauhan went to confirm about the procedure to withdraw the matured IDFC bond that I had invested through my dmat opened by karvy.
the staff at karvy office, khalini, shimla, HP, mr naresh thakur, that is the name I overheard, as he did not tell his name to me misbehaved.
he did not help me in any form, and said that I have no idea about this with drawl. when I requested to consult him with his seniors he gave me the number of a staff of karvy office, UP, [protected] and asked me to call infront of him. The man who picked the phone was given all the details of my bond and he said that I have checked, the money has been transffered in your SBI account in April this year.
I checked and there was no transfer. I informed Naresh about this he said, madam forget about it. I have no idea . you call him again. in the mean time the staff at up had spoken to naresh. when i called tyhe up staff agein he screamed and said why are you disturbing me madam? it is the job of naresh to explain.
the talk was done on speaker. when naresh was asked to explain, he started screaming and said I have so much work o do and I am not here to look into your matter.

To my best decision I left the place.

this is an unfortunate experience and it seemed as if karvy is not interested in returning the amount of the customer. Please ensure that such employees are not put in public dealing by your company.
a man who can behave like this with a lady and a gazzetted doctor can be very offensive to anyone.

a reputed company like you should take action please.

It is submitted that I Dr. Anjali Chauhan went to confirm about the procedure to withdraw the matured IDFC bond that I had invested through my dmat opened by karvy.
the staff at karvy office, khalini, shimla, HP, mr naresh thakur, that is the name I overheard, as he did not tell his name to me misbehaved.
he did not help me in any form, and said that I have no idea about this with drawl. when I requested to consult him with his seniors he gave me the number of a staff of karvy office, UP, [protected] and asked me to call infront of him. The man who picked the phone was given all the details of my bond and he said that I have checked, the money has been transffered in your SBI account in April this year.
I checked and there was no transfer. I informed Naresh about this he said, madam forget about it. I have no idea . you call him again. in the mean time the staff at up had spoken to naresh. when i called tyhe up staff agein he screamed and said why are you disturbing me madam? it is the job of naresh to explain.
the talk was done on speaker. when naresh was asked to explain, he started screaming and said I have so much work o do and I am not here tpo look into your matter.

To my best decision I left the place.

this is an unfortunate experience and it seemed as if karvy is not interested in returning the amount of the customer. Please ensure that such employees are not put in public dealing by your company.
a man who can behave like this with a lady and a gazzetted doctor can be very offensive to anyone.

a reputed company like you should take action please.

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

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

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