I am writing to formally lodge a complaint against Kotak Securities regarding ongoing issues with my DMAT account, for which I am the sole owner.
Despite repeated attempts, I have been unable to access or update my DMAT account, or change essential details such as my status to NRI and my registered address. I submitted the required forms for account activation but was informed by Kotak staff that my original account records had been lost due to a fire at their office. Although Kotak confirmed they have scanned versions of these forms, I was still required to complete new forms to match my original signatures.
I have sent these forms multiple times, only to be informed that further requirements, such as a nominee’s signature (which I am unable to obtain due to lost contact), were needed. I am now based overseas as an NRI and urgently need to update my status and address, yet Kotak continues to block access to my funds and delays any meaningful action.
This situation is entirely due to Kotak’s failure to keep my documents secure. As a consumer, I expect my records to be safeguarded and accessible; especially given that Kotak holds scanned copies of my original account forms. I have fully complied with their requests to the best of my ability but am continuously met with bureaucratic obstacles.
I request the consumer forum’s urgent intervention to:
Direct Kotak to activate my DMAT account and provide access.
Facilitate my status change to NRI and update my address and contact details immediately.
Remove unreasonable requests that are impossible to fulfil due to lost contact with the nominee.
Ensure Kotak provides a clear, effective solution to restore my rights as an account holder.
DMAT Client ID: 11436652 Was this information helpful? |
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