Kotak Securities Complaints & Reviews

Dear Sir/Madam, I had just recently(a week a ago) opened a new trinity account with Kotak Mahindra Bank. I was told that I would be charged Rs. 750 as initial account opening charges but after account opening and trading only for 2 days I realized their transaction charges are exorbitant and me or nobody else would be able to earn anything with such heavy duty charges for example I had bought one stock for Rs. 1010 but after charges which I thought would cost me around 1012 or around that but to my surprise it costed me 1036, I bought another( Ansal Buildwell) stock at 102 thought it would profit me as I had sold it at 108.8 same day but thanks to charges from Kotak I stood at a loss of Rs 22 on this stock too. I thought I would be at around no profit no loss as was showing in my cash statement too on[protected] but I realized it today when I checked my cash statement for[protected] I stood at a loss of around 600 Rs and called their customer care who told that your proceeds take 2 or 3 days to get rounded off to my account if some third party calculates my statement it would be clear that I have not suffered such a loss but I have been fooled by putting extraordinary charges by Kotak Mahindra Bank. This is what is called broad day light cheat or robbery we people read or hear in news papers about robbery in night and think how daring are these people who challenge law and order of our country but the biggest thieves such as these Kotak Mahindra Bank and Secutrities commit robbery in broad day light and in fact use laws of our country as tools to exploit and traumatize citizen of India. I am not over emphasizing but think about other customers who would have been looted they have impact all over our country what if I had been trading on days I had not traded or I had used all money in my account, the loot for them would have been bigger and for other customers the condition could be such. If such charges are ethical than there are no chances that anyone would like to open an account with such banking firms. I was not made to know the exact charges of this bank and I have been cheated shouldn't there be an upper limit of such charges. May be my voice or effort would go unheard because in our country every big corporate is a looter nobody cares about customers but someday these broad day light cheaters are going to harm our country very badly these people are even less considerate than our British rulers. Thanks & regards Vikram Singh Nagar Mob. [protected] vk.[protected]@gmail.com

dear sir i have many time remind to my dealer for auction bill and ledger but there is no response from dealer i also asked for rate of auction bill is too much as than prevailng market price as they shown from ledger in his . now i require 1 auction bill 2 ledger for 7dxn5 and 7ky24 3proper authority phone no 4.hierchy level responsible person name one time mr daxin tran.in my personal a/c loss recovery require

dear sir/madam, My welcome kit not received. The process is going since more than 45 days. when I call to your call center they said that it has been returned twice. Blue dart courier is not in our town.please send it by speed post. thank you, client id: 9JMSO REG MOBILE: [protected] REG MAIL ID:[protected]@gmail.com

I didn't receive welcome kit. From 50 days I'm waiting for welcome kit but you people are not responding. If you send the welcome kit please send me the courier details so that I will track it and I will receive client id:9JMSO Reg mobile:[protected]

I have purchased 3mths back orchid chemical 200 shares and the same is not reflected in my account please verify and upload it..i have screen shot for the above BUY/SALE of shares ... all this copies I have attached and I don't mind going to consumer court or SEBi with kotak frauds. All our friends whom i reffered for kotak has the same isuues with upload and charges related

I have purchased 3mths back orchid chemical 200 shares and the same is not reflected in my account please verify and upload it..i have screen shot for the above BUY/SALE of shares ... all this copies I have attached and I don't mind going to consumer court or SEBi with kotak frauds. All our friends whom i reffered for kotak has the same isuues with upload and charges related .

Hi, I have submitted all the required documents for Transmission process of shares in name of my mother after my father's death at Akola Branch but still being harassed for documents by kotak securities and every now and then asking for new documents, Where in documents submitted are : Letter of indemnity on 100Rs. bond paper NOC by all the family member, Signature verified by Bank Transmission form Legal Heir Affidavit Where...

Hi We had very worst experience with kotak securites. Company 'Kotak Securites' to us for placing sharing into there demat account. Due to serverial interaction with executives we place around 50 lakhs valuable assest into kotak securites. After some months, we found they are trading with our account selling and buying some share which are not into my demat account. when ask the executive they said its wrongly added into your account we will correct it. (This has been found with statement unknown company trade). This as been continued since we are busy with other work unable to concentrate on demate acount, Finally deccided to close account with kotak securites from 50 lakhs it came to 5 lakhs. (this is what my experience with Kotak securite) 50 lakhs to 5 lakhs. 45 lakhs is not small amount for a trader. Its a life hole family. Pease take care when you trading with those kind of securites. there are many other companys like this, I find kotak is one of them.

I am a Kotak Mahindra customer with account number [protected] on 2/01/2015 the amount of 5000 was transacted from Nagwara ICICI atm at 20.06 p.m, with atm code SACW8336, but the amount dispensed was 4600 instead of 5000. > the currency number of the notes of 500 is as follows: > 0QF 319529 > 9EQ 771357 > 3BF 021744 > 3BF 021745 > 0BB 845993 > 2ER 600962 > 5DW 589729 > 3CM 563991 > currency number of 100 notes is: > 7EU 648914 > 7EU 648001 > 7EU 648917 > 7EU 648916 > 7EU 648915 > 7EU 648913 > there is a shortage of 400 RS, kindly do the needful as soon as possible as I have already called at the customer care a number of times but have not got my query resolved. >

In intraday trading you are using my correct email ID to dispatch the access code and other transaction details, but, when it comes to sending me a password to enter your website, you are making some mistake and I am not receiving the new password, in spite of my repeatedly trying for the same. I think you are responding to the wrong email address. Please correct the same immediately and send a password for user name S_1935 S.Sivaramakrishna Ayyar

I have been requesting KSEC team for linking my old demat account (in IndusInd bank) with my trading account in KSEC for almost 2 months. For this simple process their unqualified executives have taken longer than normal for my simple request to be completed. I find services from KSEC so pathetic, such irresponsible on professional front and personal behaviour that I finally decide to discontinue my association with them. None of the technical staff at customer center or personal executives assigned has enough knowledge to resolve this issue. Whatever documents and details which were asked by me were provided to KSEC in suitable time, still this simple process is made so complicated that no near visibility for any solution is seen. Due to their negligence, lack of trade knowledge, and lethargic service attitude I wrote mail to discontinue my trading and demat accounts with KSEC. No surprises, instead of giving me a possible solution, or bothering even to talk with me, their executives simply forwarded the old mails to me.

i am from villupuram, tamil nadu. I applied for a demat account with kotak securities on november first week. They said i have to open a savings account first and then the demat would be opened. Just to open the savings account they took 6 days. And after that they called me to come to their bank to do some paper work. After doing all the paper work i have still not got the account opened. Whenever i call them, Their only responce is Sir ill check and call u back. I scold myself for going to these to open the account. They dont know even how a demat account works. They are a bunch of illiterate guys whose dont even know what their bank if offering customers. ICICI Bank is the best in every way. It would take only 5 days to open an demat account. These guys are just . Please dont open an account with these guys. Derrick Peter [protected] [protected]@gmail.com

I had very disappointing experience with KSL and urge people not to have any business with them, the business with them is suspicious and not trustworthy. Below is the incident which happened with me very recently. Background Information: I bought 100 shares of JSW steel on 31st October 2014 in open market for which I got digital contract note from KSL as well as NSDL. KSL has charged me for the same. On 4th Nov 2014 I sold those 100 shares in the open market. On 7th November I have seen 3 unusual JV entries in my account resulting in 20 shares of JSW left in my account. I was charged 25000 + 37000 (@150%) total 62000 in my account. Somehow they released the fund of 37000 after one week and charging me interest as well. But the 20 unwanted JSW shares are still lying in my account. Issue: When called up the customer care they released the Rs.37000 and promised to take back those 20 shares and also the loss occurred to me; however after several emails and calls they are now refusing to own their mistakes and giving absurd lies to me. I asked them few questions and they refused to answer me. Today it caused me huge financial loss as well as emotional and mental harassment. In fact one of their guys said “I have violated their systems” and they are punishing me. When I asked him to give in writing he refused. I need urgent solution to this issue. Additional Information: 7/11/2014 BSE JV Debit of 150% on short sale value JINDAL_VIJAYNAGAR_ST Qty. 80.000 Sett 2014145R 2028966 147462.40 0.00 110275.12 07/11/2014 BSE JV Debit of 150% on short sale value JINDAL_VIJAYNAGAR_ST Qty. 20.000 Sett 2014145R 2028948 36865.60 0.00 -37187.28 07/11/2014 BSE JV 1N7T8 SHORT REV 150% JINDAL_VIJAYNAGAR_ST 80.000 Sett 2014145R 2028966 0.00 147462.40 -74052.88 Feedback on Customer care: … 1. My customer security information was not verified which they should have ideally. 2. I was promised call back which never happened. 3. The rep would be very rude, will keep you on hold for long time and would not listen to the problem. Regards Sandeep [protected]

date: Tue, Jul 15, 2014 at 7:06 AM subject: Resuming of Demat Trading : Q92B7 Dear M/S Kotak Securities, It is hereby intimated that for the past one year I haven't done any transaction/trading in my Demat account no Q92B7 (Puducherry). Recently I have cleared the debit balance of Rs 515/- Presently there is no outstanding, hence please activate my account to enable me to start trading. Please acknowledge receipt and accord priority. service.[protected]@kotak.com mohan.[protected]@kotak.com (I have sent the above mentioned mail to the cited email address on Tue, Jul 15, 2014 at 7:06 AM, followed with personal visit to Puducherry branch on 01 Nov 2014. Till date no response from any side. If my request is not fulfilled within 24hrs, I may be forced to close my account.

DEAR SIR, I HAVE A DEMAT ACCOUNT IN KOTAK SECURITIES AND I WISH TO CLOSE THE SAME AS THE SAME IS NO LONGER REQUIRED. WHEN I CONTACTED THEIR CUSTOMER CARE THEY HAVE INTIMATED THAT I HAVE TO SUBMIT ACCOUNT CLOSURE REQUEST FORM TO THE NEAREST KOTAK SECURITIES BRANCH. I SUBMITTED THE SAME THREE TIMES BUT ALL THE TIMES THEY HAVE REJECTED MY REQUEST REASON STATING THAT MY SIGNATURE IS TALLYING WITH THEIR RECORDS. HOWEVER, WHEN I SUBMITTED MY APPLICATION FOR UPDATION OF MY BANK, THEY UPDATED THE SAME WITH THE SAME SIGNATURE. ALMOST FROM LAST THREE MONTHS I WAS TRYING BUT I AM NOT GETTING SUCCESS IN THE SAME. VERY POOR SHOW BY THEM ALOK RANJAN SINGH IJVZ4 [protected]

i had open my account one month ago and i requested them to open online account but they open offline . when i asked them they said we will make it online .from 20 days they said that it is under process. and the RM they provide me is not trained well.

My client ID[protected]. DP ID - IN300214. Branch : Karur. Trading ID - R8R85. Mobile No.: [protected]. Mail ID : [protected]@nallitraders.com I have not yet received the DD for Rs.56946.12, which has been sent by your company on 4-9-14, as per your message. The same delay happened last time and it took more than a week to receive payment. Regards, R.Mathiyazhagan. Karur.

Since two months I am trying to unlock my
shares blocked in RGESS Which were purchased through kotak securcities.
Local agent confused me, they even not aware o[censored]nlocking process .they are more interested to earn brokerage and pay more attention on big investor.Small investors hardly get any importance

The guy named ajay kumar Ranjan contacted me 4-5 times to open the kotak security account in their bank . I told I don’t get much time to look into share market. He told don’t worry try it, if you don’t like it you can close account. He came to my home and collected all document and initial amount of 10, 000. After two months i called him to close my account. He told he will come to my office with documents. But he never came. In a similar way he gave me excuses for 5-6 months and still he haven’t closed my account. When i started arguing with him he told why company should close your account since we haven’t got any profit from you. This line of statement from him short circuited my faith on kotak bank and its employees. Use the kotak bank service at your own risk. I am mentioning the emails and phone numbers of both the agents so that you will not get cheat by them. They both are from Mumbai. Ajay Kumar Ranjan -[protected]. Email - ajaykumar.[protected]@kotak.com and Arslan Sayyed arslan.[protected]@kotak.com - [protected] . Office : Kotak securities, 401, 4th floor, Srushti Pride Datta . Prasanna bld. Above bank of Baroda, Ram maroti road . Thane west - Mumbai

Hi, I am having 3-in-1 account with Kotak Sec and they allow me to purchase shares thru margin. Initially I tried to find, the cash amount lying in my account however, not able to found it (when spoken, they said, it need special training to find the cash amount lying in my account, surprise!!!). Further, I request them to close my margin funding account and let me transact with the money I have in my account (and not with borrowed), they said Kotak does not allow such mechanism & I cant change my system, just for you. They sold most of my share, which I kept for long term. I dont know, how I stuck in this situation.