[Resolved]  Karvy Stock Broking — Trading Accounts 2281189 & 24101008

Address:Kolkata, West Bengal

Reminder No - 3 Dear Concern, This has response to my mail dated Thu, Jun 12, 2014 at 7:54 PM addressed to <[protected]@karvy.com> to which M/s Karvy has not bothered neither cared to answer. The same is once again reproduced below for your kind concern. Kindly find below my original queries addressed to [protected]@karvy.com<mailto:[protected]@karvy.com> and the reply of M/s Karvy mail dated Friday, June 06, 2014 11:37 PM ( marked Dark and underlined ) to them. Kindly find in deep blue my present query - (1) Kindly let me know on what basis did M/s Karvy sent SMS at 8:58:17 AM from BP-KARVY in my registered mobile with M/s Karvy & Mail from [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> at 09:48 AM in my registered Mail Id with M/s Karvy informing me that Stocks worth Rs 30067.41 with M/s Karvy in Trading Account No 24101008 will be getting liquidated today due to Payin default/ Margin Shortfall. How did M/s Karvy know that Trading Account No 24101008 has Payin default/ Margin Shortfall and at what time and date???? Kindly note outstanding in square up notice includes Rs. 50 Or 0.5 % of Debit whichever is higher, in this case the debit amount was Rs 29917.8 and square off was Rs 30067.41 which includes 0.5% of the Debit amount M/s Karvy has not answered vide mail dated Thursday, November 14, 2013 12:45 PM as on what grounds M/s Karvy has sent the above SMS on Oct 31, 2013 at 8:58:17 AM and what was my Debit Amount in Trading Account No 24101008 as on 30/10/2013. Also M/s Karvy vide mail dated Thursday, November 14, 2013 12:45 PM has not told whether vide SMS/ Mail / Telephonic talk, information was provided to us (Trading Account Nos 2281189 & 24101008 holders) of Overdue Debit Balance. M/s Karvy can you kindly inform why no SMS/ Mail/ Telephonic talk method was used to convey to us Overdue Debit Balance????? (2) Kindly let me know when did M/s Karvy receive payment of Rs 52713.22 and Rs 29967/= of Trading Account No 24101008 in their Account and by what mode ? As per the ledger credit entry passed in your trading account for the amount Rs 52708.22 on October 29th, 2013 and Rs 29967 on October 31st, 2013. M/s Karvy has not stated vide mail dated Thursday, November 14, 2013 12:45 PM that by what mode they ( M/s Karvy ) have received payment of Rs 52713.22 and Rs 29967/= of Trading Account No 24101008 on 29/10/2013 & on which date and at what time as asked for in my mail dated Thursday, November 07, 2013 8:33 AM. M/s Karvy has the freedom to pass Ledger Entry as per their wishes & we as Customers are not liable for that. (3) Kindly let me know as to how M/s Karvy arrived at the figure of Rs 30067.41 worth Stock to be deducted from Trading Account 24101008 as per Mail from [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> at 09:48 AM and SMS at 8:58:17 AM from BP-KARVY???? M/s Karvy has not given any reply vide mail dated Thursday, November 14, 2013 12:45 PM to this as it would be same to what they have replied to against my query (1). M/s Karvy has not answered how they have sent the above SMS on Oct 31, 2013 at 8:58:17 AM and what was my Debit Amount in Trading Account No 24101008 as on 30/10/2013. (4) Kindly let me know when was Ledger updated of Trading Account No 24101008 before sending SMS/ Mail about Payin default/ Margin Shortfall? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (5) Kindly let me know on what grounds you had blocked my Trading Account No 24101008 and 2281189 on 29/10/2013???? There was debit balance of Rs 50 in your account as on October 25th, 2013. (excluding transactions of October 25th, 2013 ). M/s Karvy has not taken into account that the above Debit Balance was not intimated to me by anybody of M/s Karvy from 26/09/13 till 29/10/2013 either by SMS or Mail or telephone & also not checked our payment history with M/s Karvy. Moreover shares worth more than Rs 25 Lakhs were in my DP 11266809 mapped to my Trading Account 24101008 and also in DP 12147257 mapped to Trading Account 2281189. (6) Kindly let me know what was the Overdue Debit Outstanding Balance of Trading Account Nos. 24101008 and 2281189 as on 25/10/2013???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM but as per their reply to (5) it was Rs 50 & Rs 30 respectively. (7) Kindly let me know when and through whom did M/s Karvy intimate/inform me about Overdue Outstanding Debit Balance in my Trading Account Nos 24101008 & 2281189 ???? Kindly let me know the medium/mode of information to me???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. However kindly note that no one from M/s Karvy informed me about Debit Outstanding of Rs 50/= despite my regular telephonic talk with Mr Arijit of M/s Karvy. Also M/s Karvy did not intimate us vide SMS/ Mail or telephone of Overdue Debit Balance. (8) Kindly let me know why [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> did not reply to my mail dated 28/10/13 enquiring what Transaction Charges have been levied on my Ledger; for what reason and what amount???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (9) Kindly let me know who is responsible for the mental trauma that I am undergoing from 29/10/13 and M/s Karvy is adding to this by sending SMS/ Mails stating Stocks will be deducted against new charges being levied in my Ledger without information to Trading Account Nos 24101008 & 2281189 Customers???? Ledger balance SMS will be send to you regularly from our end on your registered mobile M/s Karvy has stated that Ledger Balance SMS will be sent to me vide mail dated Thursday, November 14, 2013 12:45 PM but has not said whether any SMS/ Mail or telephonic talk was made by any M/s Karvy personnel to Trading Account Nos 24101008 & 2281189 holders of Rs 50/= & Rs 30/= Debit Balance in their Trading Accounts. M/s Karvy has till date not sent any SMS of Ledger Balance as stated in mail of [protected]@karvy.com<mailto:[protected]@karvy.com> dated Thursday, November 14, 2013 12:45 PM. M/s Karvy also has not replied vide mail dated Thursday, November 14, 2013 12:45 PM as to who is responsible for the mental trauma that I am undergoing from 29/10/13 and M/s Karvy is adding to this by sending SMS/ Mails stating Stocks will be deducted against new charges being levied in my Ledger without information to Trading Account Nos 24101008 & 2281189 Customers???? . (10) Kindly let me know who is responsible for forcing me to sell 120 Shares of Siemens on 29/10/13 in Trading Account 2281189 and what was the Overdue Debit Outstanding Balance in 2281189 as on 29/10/13 for it being blocked???? What amount was the Payin default/ Margin shortfall as stated by Mr Rohit Pasari who said that Trading Account 2281189 can be opened only after clearance of Overdue Debit Outstanding Balance of about Rs 60000/=???? Your account crossed a stipulated time as your account was already in debit of Rs.50 before October 25th, 2013 due to which additional limits were not available in your account on October 29th, 2013. M/s Karvy has not replied vide mail dated Thursday, November 14, 2013 12:45 PM as to which personnel from M/s Karvy contacted Trading Account Nos 24101008 & 2281189 holders of Rs 50/= & Rs 30/= Debit Balance in their Trading Accounts between 26/09/13 to 29/10/13. M/s Karvy has not replied vide mail dated Thursday, November 14, 2013 12:45 PM as to who was responsible for forcing me to sell 120 Shares of Siemens on 29/10/13 in Trading Account 2281189. Kindly note that shares worth Rs 25 Lakhs & more in DP 12147257 is mapped to Trading Account No 2281189 and similar amount in DP 11266819 mapped to Trading Account 24101008. Moreover M/s Karvy should also let me know when has there been a payment delay in Trading Accounts 2281189 & 24101008 except for this Rs 30/= & Rs50/= which was not informed to us by anybody from M/s Karvy. (11) Kindly let me know who is responsible for the losses that I have incurred and the mental trauma that I have been undergoing from 29/10/13???? Kindly let me know who will pay for my losses incurred by us???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (12) Kindly let me know why no one from Hyderabad called me on 29/10/13 as informed to me by Mr Arijit on 29/10/13 at 10-14 AM when Mr Arijit was called upon by me at 10-14 AM regarding Trading Accounts 2281189 & 24101008`of mine still being being blocked at 10-15 AM????? Kindly note that Trading Account No 24101008 remained blocked on 29/10/13????? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (13) Kindly let me know why [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> has not responded to my mails dated 28/10/13; 29/10/13;30/10/13; 01/11/13 till date???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (14) Kindly let me know why in M/s Karvy some Customers Trading Accounts are opened vide mail early morning daily despite these Customers having a higher Overdue Debit Balance than what it was in Trading Account Nos 24101008 & 2281189 and also overdue for more number of days????? Kindly let me know what is the criteria for such Customers getting their Trading Accounts opened and our Trading Account not get opened despite our payment records being absolutely clean without any delays beyond due date ???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (15) Kindly let me know whose duty it is to inform the Customer of Trading Account Nos 2281189 & 24101008 about Overdue Debit Balance and do you send any reminders to Customer regarding their Overdue Debit Balance or just block their Trading Accounts???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (16) Kindly let me know whose job is to call the Customer and inform about market positions or whether Customer is interested in Trading or not???? Whose job it is to update at some point during Trading hours about the current market situation????? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (17) Kindly let me know how many days does it take to get payouts???? What should I do when I receive Payout after full 8 days??? Why did it take Contract Note No 1314/173N/1232886 dtd 10/09/13 for Rs 259991.80 in Trading Account No 2281189 to be paid in 4 installments on 13/09/13; 14/09/13; 17/09/13 and 18/09/13; that is full 8 days? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. It has been our experience that when it comes to Payouts, M/s Karvy has rarely given full payout in a single payout and they always have one excuse or the other. (18) Kindly let me know why [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>>not provided me Ledger of Trading Accounts 2281189 & 24101008 till date as asked for in my mails dated 28/10/13; 29/10/13; 30/10/13; 31/10/13 and 01/11/13????? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (19) Kindly let me know what are the Transaction Charges that have been levied in my Trading Accounts 2281189 & 24101008 as asked for in my mails dated 28/10/13; 29/10/13; 30/10/13; 31/10/13 and 01/11/13????? . What are the reasons for levying the Transaction Charges in Trading Account Nos 2281189 & 24101008 and on what date and what basis???? Transaction charges will be applicable on various cases such as, if you sell the shares which are lying in your trading account (collateral account) or if you ask for the payout of the scrips to your demat from your collateral etc.. The break up for these charges will be available at your branch. Rs.10 per scrip will be charged and it will be debited to your trading account. M/s Karvy vide mail dated Thursday, November 14, 2013 12:45 PM did not provide Ledger of Trading Accounts 2281189 & 24101008 despite requesting for same vide mails dated 28/10/13; 29/10/13; 30/10/13; 31/10/13 and 01/11/13????? M/s Karvy people should tell me how can one check what Transaction Charges are levied in their Trading Accounts without getting necessary Ledger. (20) Kindly let me know why Trading Account No 24101008 was blocked on 29/10/13 for the whole day and for what reason???? What was the Payin Default/ Margin Shortfall for it being blocked the whole day???? When did M/s Karvy receive the Payin Default/ Margin Shortfall amount???? When was Trading Account No 24101008 finally opened and on what grounds??? What was the Payin Default/ Margin Shortfall on that day???? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (21) Kindly let me know under whose advice/ instruction has [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> not responded to my mails dated 28/10/13; 29/10/13;30/10/13; 31/10/13 & 01/11/13 ???? Kindly let me know under whose advice/ instruction has [protected]@karvy.com<mailto:[protected]@karvy.com><mailto:[protected]@karvy.com<mailto:[protected]@karvy.com>> not called me on 29/10/13 or whether Mr Arijit has not requested you to call meon 29/10/13 as informed to me by Mr Arijit on 29/10/13??? Why did it take Mr Rohit Pasari 30 mins to call me after Arijit had requested him to do so? Why did it take Trading Account No 2281189 to be opened at around 12 Noon that too after selling 120 Siemens shares at 10:32 AM??? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. (22) Mr Rohit Pasari rang me from his Office Number[protected] at 10:41 AM and duration of call was 3:46mins which he himself disconnected. It would be very kind if Mr Rohit Pasari could answers the following questions- (A) Why did it take Mr Rohit Pasari about 30 mins to call me up after Mr Arijit's call at 10-14 AM ? Overloaded? Petty Customer perhaps. (B) Was Mr Rohit Pasari aware of the delayed Debit Outstanding amount in Trading Accounts 24101008 & 2281189 as he was repeatedly stressing on clearance of the Debit Outstanding first? (C) Mr Rohit Pasari said that he had checked the Debit Outstanding in both Trading Accounts before speaking to me. Was Mr Rohit Pasari aware of payment history of both Trading Accounts and how many times have we defaulted before on our payments, as Mr Pasari was stressing on clearance of Overdue Debit Outstanding Amount ? (D) Did Mr Rohit Pasari take feedback from Mr Arijit about our payment history and was Mr Rohit Pasari aware that I had made NEFT payment on 29/10/13 in Trading Account 24101008 which was Credited to M/s Karvy at 08:55 AM? If the answer is "Yes", why was Trading Account 24101008 continued to blocked fully on 29/10/13 and what action did he take despite my phone call at 10:41 AM & 11:48 AM????? (E) Can Mr Rohit Pasari say what effort/ action did he take to open our both Trading Accounts as in 2281189 I was forced to sell 120 shares of Siemen at 10:32 AM and there was no Outstanding left and in 24101008 I had made NEFT payment of Rs 52708.22 which was Credited to M/s Karvy at 8:55 AM???? (F) Can Mr Rohit Pasari say why Trading Account 2281189 was opened at around Noon and 24101008 not opened at all on 29/10/13? Kindly verify from Mr Rohit Pasari whether he informed me about opening of Trading 2281189 at around Noon? M/s Karvy has not replied to this vide mail dated Thursday, November 14, 2013 12:45 PM. Kindly let me know whether M/s Karvy is interested to reply to my 22 point queries or should I look for other methods/ avenues to get necessary reply to my queries. Kindly give detailed answer to each of my 22 queries as asked for. Yours truly, Bhupendra Singh Taragi
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Aug 14, 2020
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