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Kotak Securities Complaints & Reviews

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Updated: Sep 9, 2025
Complaints 386
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227
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Kotak Securities reviews & complaints page 17

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R
rchugh22
from Bengaluru, Karnataka
Sep 6, 2011
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Address: North Delhi, Delhi

Hi It’s been more than 2 years I am trying to close my Kotak securities account. I have submitted my closure documents 5 times but yet my account is still open. Every time I call up customer service they say that they have not received my documents. After insisting them that I have submitted these documents in one of their branch in delhi they say that all the documents are sent to their head office and the documents which I had submitted to their mall road branch, they have not received it . I am tired of following up this again and again. I am fed up of this and do not know what to do.

Regards
Ritesh
Aug 13, 2020
Complaint marked as Resolved 
Dear Ritesh,

You are a valued customer and we deeply regret the inconvenience caused to you. We request you to please share the required documents on ks.[protected]@kotak.com with your client id and we will ensure that your query is resolved at the earliest to your satisfaction.

Regards,
Team Kotak Securities
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    Swapan Mondal
    from Kolkata, West Bengal
    Aug 25, 2011
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    Address: Nadia, West Bengal

    I have opened a Demat A/C KOTAK SECURITIES LTD.I got a message fro TN-NSDL that KOTAK SECURITIES was registered as power of attorney of my demat account without given any information to me. I have diposited some money to KOTAK SECURITIES LTD. I am in dark where is money.

    Swapan Mondal
    Aug 5, 2021
    Complaint marked as Resolved 
    Dear Mr. Mondal,

    We regret the inconvenience caused. We request you to share your client details so that we can sort this matter at the earliest. Kindly write to us on ks.[protected]@kotak.com and we will assist you to your satisfaction.

    Regards,
    Team Kotak Securities
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      S
      s purab
      from Mumbai, Maharashtra
      Jul 26, 2011
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      Address: Mumbai City, Maharashtra

      BEWARE !! BEWARE !!

      OF THUMPING EXTRA ''HIDDEN'' BROKERAGE CHARGES, OTHER THAN STATED IN PLAN SHOWN TO CLIENTS INITIALLY...
      KOTAK SEC'S FRAUDELENT METHODS OF CHEATING CUSTOMERS -
      BROKERAGE PLANS SHOWN ON WEBSITE OF TRADING CUSTOMERS INDICATE ONLY PART OF THE CHARGEABLE BROKERAGE TO CUSTOMERS.
      KOTAKSEC. HAVE ' HIDDEN'' EXTRA CHARGES, OTHER MINIMUM CHARGES APPLICABLE WHICH ARE NOT DISCLOSED TO CUSTOMERS.
      TRADING CLIENTS ONLY DISCOVER SAME, AFTER PARTICULAR TRADES DONE AND SURPRISED TO RECVE BROKERAGE CHARGES
      NOT STATED / PRINTED IN EARLIER PLAN'S SHOWN BY KOTAKSEC.
      AFTER RECEIVING CLIENT COMPLAINTS, KOTAK SEC FORWARDS THE HIDDN CHARGES GIVEN IN '' S M A L L PRINT '' .

      We have been charged EXTRA brokerage amounting to Rate of 10 percent, wheras the PLAN proposed clearly indicated brokerage Rate of 0.25 percent.

      Inspite of pointing out to Kotasec - service dept/ various complaint cell, Kotasec does not want to even read the Plan of their own website ( forwarded to them as attachment ) and they keep denying Reversal of Extra Fraudelant charges.

      BEWARE !! BEWARE !!
      Aug 13, 2020
      Complaint marked as Resolved 

      kotaksecurities ltd. — brokerage rate ; wrong listing of stock rates

      Dear sir,
      Righ tfrom begining im having problems with this company:-
      1. Dealy in providing dmat kit ... that i got many days later after lots of correspondence.
      2. If you dont check vigilently they are deducting higher brockerages ( 2% inplace of .2%)
      3. I sold a share for about Rs 280/- they record it 285/- ( In one of their record they show 280 while in other 285 for same share ) and instead of recordin my profit they are showing loss.
      4. Every month kotak bank of alld branch is deducting money from my a/c with out my knowledge for demat services... rediculous

      These things happened in only less than a month of trading with kotak securities . All these gives their customers plentiful of mental stress
      i had a very experience with this company
      Dear Purab,

      We are here to help you. Please do share your contact details and customer ID on ks.[protected]@kotak.com so we can understand and address your concern at the earliest.

      Regards,
      Team Kotak Securities
      First, I Sold 4 shares of Infosys (Rs3600+ per share). The total brokerage amount was 21 rupees. Then aftersome time, I bought 1 share for Rs 3600+. Then after 15minutes i bought another share., Then after 15minutes i bought another share, Then after 15minutes i bought another share. Totally i bought 4 shares. The brokerage amount i received per share was 21. Totally (21*4=84) 84rs was my brokeage for buying. My Intraday brokerage is only 0.06%. . As per my calculation, total brokerage amount should be less than 45 rupees. But i paid nearly 110rs as brokerage. Why cheating like this.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
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        S
        satyasb
        Jul 15, 2011
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        Address: Bangalore, Karnataka

        It's been more than 30 days but still NO ANSWER and SUPPORT has come from anybody. Hope writing here will help to reach the right section of people and get it resolved ASAP.

        From: Satya B
        Sent: Wednesday, July 13, 2011 3:03 PM
        To: 'krishna.[protected]@kotak.com'; 'harikrishna bandi / Kotak / Securities'; 'service.[protected]@kotak.com'
        Subject: RE: [SR#:1-[protected]] - Official complaint and official Request
        Importance: High

        Hi Krishna/ Hari,

        A official Complaint

        – Just now somebody named Mayank / Nayan called me from Lavelle Branch who claims himself as Manager but then behaves like a FRESHER with a complete unprofessional way.

        He seems has no clue what has all happened and behaving in a unhealthy and uncharacteristic way – When ever I was saying something, he was putting off the call and talking to colleagues and repeatedly saying I will talk with my Manager. I don’t understand if he cannot solve my problems why simply he is calling me.

        He was completely unapololegetic and went to the extent of disconnecting the call – even if I was saying Hello for 5 - 10 times. Kindly take action against people who are playing with Customer Time and Money

        My personal opinion – Should close Lavelle Branch as they are never co-operating and supporting.

        A official request:

        Krishna, Hari

        Would request – if Kormangala or near by like Jayanagar or something better service quality some of the best branch takes up all the Initiatives I am talking below

        Please Quickly look into the one single main issue – of assigning a Permanent RM and Branch and Operation Heads.
        1. To assign a RM and Branch Head details – who can take care of my account on 6 months ( as in my case 15 days RM are changing – it has happened not once or twice but more than 10 times)
        2. Portfolio rationalization – You will try to get the same. – which was promised by Hari still no answer
        3. MF SIP – Portfolio Analysis – Please find the attached copy – in mail – I have sent but still no answer.

        Regards,
        Satya

        From: Satya B
        Sent: Thursday, June 16, 2011 10:34 AM
        To: 'harikrishna bandi / Kotak / Securities'; 'shivashankar da / Kotak / Securities'
        Cc: 'gopala krushnabillingi / Kotak / Securities'
        Subject: RE: Update Your Financial Information - URGENT ( Please respond quickly)
        Importance: High

        Hi Hari,

        As per our discussion, just putting across so that we are all on same page.
        1. Please send by EOD today as discussed to collect the letter and proof.
        On Initiatives – I am attaching the mail.
        1. Synergy Account and Kormangala or close to Electronic city Branches – Single contact Expert / Managers who understands the Products/ Instruments. – Need to send the Expert contact details
        2. Portfolio rationalization – You will try to get the same.
        3. MF SIP – Portfolio Analysis – Please find the attached copy – in mail
        4. On Account Authorization - please specify am I in monthly/Quarterly scheme or what else I need to do ( as the generic mail which came from Customer service was not clear )

        Would request your co-operation to close all and should have a continuous follow up with the communication flowing regularly.

        Regards,
        Satya
        Aug 13, 2020
        Complaint marked as Resolved 
        Dear Satya,

        We deeply regret any inconvenience caused to you. We are proactively working on the points mentioned and our customer service will be directly in touch with you to ensure your issues are addressed to your satisfaction

        Regards,
        Team Kotak Securities
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          P
          princ41
          from Mumbai, Maharashtra
          Jun 17, 2011
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          Address: Meerut, Uttar Pradesh

          Hi Team,

          Here is big grievance as I had applied for a online demat account on 3-June-11 at your Ganga Plaza Branch Office Meerut and it has been opened on 14-june-11 after taking so many follow-ups but after opening this account Mr. Maninder and Mr. Rohit told me that it is offline account and if you want to open online account you have to submit all the documents again and a cheque of Rs 750.

          So please explain is this ok that your customers are suffering from these types of issues???



          Name :- Prince Gupta


          Client ID :- 1CPR4



          Thanks & Regards,

          Prince Gupta
          Aug 6, 2021
          Complaint marked as Resolved 
          Dear Mr. Gupta,

          We deeply regret the inconvenience caused to you. At Kotak Securities, it is our constant endeavor to provide utmost in customer service to all our clients. Your details have been shared with the customer service desk and your online account will be opened with no additional cost to you. We hope this is to your satisfaction. We value you feedback, please do write to us at ks.[protected]@kotak.com It is our pleasure to serve you.

          Regards,
          Team Kotak Securities
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            S
            sagen
            from Bengaluru, Karnataka
            Jun 16, 2011
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            Address: Bangalore, Karnataka

            My customer ID is WDRD5.

            This was regarding a concern of a short sell that I had done on 30th May post which I had contacted your contact center at 1:11PM to 1:16PM to clarify a point. I was very clear on the call to explain what I have done and how long a time do I have to place a buy order for the short sell that I had done. The representative mentioned and advised that I can place a buy order any time before 10:30AM Wed. I rephrased this statement on the call to make it clear what I heard is right. And she said yes, you can place that order before the time she mentioned.

            However this morning to my surprise, I couldn’t see any position for me to place a square off order this morning which is when I called your customer care again to get surprised that I had to square it off on the very same day else it will go for an auction. The first lady also mentioned about this auction and told me that before this auction provided I don’t square off before Wed.

            The representative this morning told me that I would get a call back post market hours today which I did not. Considering that my concern is time bound; I would have appreciated if someone had to prioritize and give me a call back to explain to me what the next steps are.

            Had the first rep advised me correctly; I would have placed a buy order the very same day even if I was under loss. But now I’m left with no hope. I had been on leave for whole of last week and came back with couple of people more to open a demat account with you. However looking at the kind of service I’m going through; I will have to think over.

            Now it;s more than 3 weeks that i couldn't trade due to the loss of my margin available and now they say that the losses I have incurred due to their incorrect advice given to me cannot be reversed.
            Aug 13, 2020
            Complaint marked as Resolved 
            Dear Sagen,

            We understand your concern. Please be assured that we will look into the matter and address your issue at the earliest. You can also write to us at ks.[protected]@kotak.com

            Regards,
            Team Kotak Securities
            I guess i have tried that path of escalation and it went no where to satisfy the right.
            Dear Sagen,

            We understand your concern. We have looked into the matter in detail and our customer service desk has sent you an e-mail addressing all your queries. We hope that you will find the response to your satisfaction. Thank you for sharing your feedback and do write to us at ks.[protected]@kotak.com for any other clarifications.

            Warm Regards,
            Team Kotak Securities
            I disagree to what standard comment that you have copied and pasted here. I was given incorrect advice about short sell and today after all the loss that have incurred, you have given me the right advice via mail. What's the point now when its too late in life? Your representatives had given me incorrect advice due to which I lost my money and would advice all NOT to opt for Kotak as your trading broker as they end up cheating people like this. Mind it that my call to you is recorded and kept safe on your servers that i will soon invoke.
            Dear Sagen,

            Please be assured that at Kotak Securities, we maintain complete transparency in all the services we offer. Yours appears to be a case of misunderstanding. We also observe that you have carried out intra-day transactions in the past also. Servicing our clients is our primary concern as we strive to ensure that no inconvenience is caused. Please do get in touch with our customer service directly for further assistance. We will be happy to resolve this issue to your satisfaction

            Regards,
            Team Kotak Securities
            i have demat account in kotak securities .i purchase indo count 2000 share 0n 24 Aug @ 8.72 after 2 days when it reach to 9.3 i have tried to sell it but its fail after that i call to kotaksecurities customer care they told me that put the market price 0 and do the sell command than it will sell in current market price. i do the same at that time market price was 9.3 after receiving the sale command my order was execute @ 7.27. when i checked the rate at that time it was around 8.5 to 9 .so i call to customer care and discuss this issue with kotak executive he checked the rate and told me the same rate around 8.5 to 9 than i ask to him how my order was execute in 7.27 .i register the complaint for same matter but after long time nobody get in touch with me and my complaint status is still pending.
            Dear Vinay,

            We regret the inconvenience caused. We request you to share your client id & contact details with us at ks.[protected]@kotak.com so our customer care executive can get in touch with you and address your concern at the earliest.

            Regards,
            Team Kotak Securities
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              tejash9
              from Pune, Maharashtra
              Jun 14, 2011
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              Address: Pune, Maharashtra

              I used this stupid software to buy a company's 500 shares shares out of which 142 got executed but it did not get shown in as TRADED so I thought its not executed, but I got a SMS saying that 142 out of 500 shares got transacted so this is one problem, now next day when I tried to sell off this 142 shares, I just went to Risk Report option and sold off the shares which did not informed before that you need to sell off in same exchange as by default the NSE exchange is selected. Now after T+2 days, I got email stating that those 142 shares got short from NSE and now the auction will take place in 2-3 days and you will have to pay the whatever the difference to the exchange. I want to ask that what is the use of such software when this small thing is not taken care by this software. Anyways, I am going to close down my account with this so called No. 1 brokerage firm of our country. I feel like cheated, really didnt expect this from Kotak.
              Aug 13, 2020
              Complaint marked as Resolved 
              Dear Tejas,

              We hear you. We will look into the matter and address your concern at the earliest. In the meantime, do share your contact details with us at service.[protected]@kotak.com so our customer care executive can get in touch with you.

              Regards,
              Team Kotak Securities
              Dear Tejas

              We understand your concern. Please be assured that at Kotak Securities we maintain high level of quality service and transparency. All our products are developed after thorough research to ensure customer convenience. We request you to kindly share your contact details or customer id so we can address your concern at the earliest. You can also write to us on ks.[protected]@kotak.com or call us on[protected] and we will be happy to assist you.

              Regards,
              Team Kotak Securities
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                Srikanth Gi
                from Mumbai, Maharashtra
                Jun 11, 2011
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                Misuse of Contact Information

                Address: Andhra Pradesh

                To
                Kotak Securities ,
                Somajiguda,
                Hyderabad

                Sir ,

                This is to bring to your notice , the misuse of the contact information provided to the kotak Securities ,
                I provided my details to check if I could get the information on Kotak ETF, as I was interested in the same .
                Your Staff member . Ms.Bhuvaneshwari Kumar , had been using your official lines[protected] to contact...
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                nayan.sri
                from Delhi, Delhi
                Jun 9, 2011
                Resolved
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                Dear Sir/Mam

                This Complaint is Regarding about my pf withdrawl. i had work with kotak securities from 24 april 2006 till 31st july 2009 After that i had submitted my pf withdrawl in kotak off dated 29 sep at delhi off after that so many reminders kotak hr has given me status that your withdrawl form is already submitted to pf bandra off dated 2 nov 2010 i have a reciept which is already showing in bandra pf website also.After so many calls to pf office that i knew that pf department is going to centrlize & your claim is delay. Now i check epf india website then recieving is showing that your claim recieved by th this off dated 11 april 2011

                My pf a/c no is MHBAN[protected]

                It's already 7 moths pass away. i don't know how much time it will be take for my pf settelment.

                i am requesting you kindly slove my Problem & Take proper Action Against Pf depatment (Attachment Enclosed)

                Regards
                Nayan Srivastava
                [protected]
                +2 photos
                Aug 13, 2020
                Complaint marked as Resolved 
                Dear Nayan.sri,

                We understand your concern. The Provident Fund office has confirmed receiving your application request and provided us with an acknowledgment receipt. We kindly request you to get in touch with them for your PF amount at the earliest. For any other clarification, please get in touch with our HR team

                Warm Regards,
                Team Kotak Securities
                MY Complaint is not for the kotak securities. complaint is against the pf bandra office thta hhow much time they will take for my pf settelment

                My Pf A/c no is MH/BAN/41586/4118
                --- On Mon, 18/4/11, reliableksl <[protected]@sawantpfconsultant.com> wrote:

                From: reliableksl <[protected]@sawantpfconsultant.com>
                Subject: Re: Please Reply as soon as possible
                To: "manoj kumar" <[protected]@yahoo.co.in>
                Cc: "rajendra khodake / Kotak / Securities" <rajendra.[protected]@kotak.com>
                Date: Monday, 18 April, 2011, 11:05 AM

                Dear Sir,

                Your reissue letter has been submitted to PF Office on 22/12/2010.

                You are aware that due to fully computerization in Bandra PF Office, the PF Office had stopped processing of PF Withdrawal, transfer forms and issueing of PF slips.

                The installation of Computers in PF office, Bandra, Mumbai has been completed now. The data migration work is going on & the PF office has started the basic procedures of settlement of PF & Transfers.

                Nearly 2 Lacs PF forms are pending in the Inward section for further process. The huge pendency & day to day information received from PF office, it will take 5-6 months to process these forms.

                Though there is delay in processing PF Withdrawal & Transfer forms, you will get interest till the authorization of cheque.

                With Regards,
                Harshada
                Reliable Consultancy Services
                ----- Original Message -----
                From: manoj kumar
                To: reliableksl
                Sent: Monday, April 18, 2011 10:40 AM
                Subject: Fw: Please Reply as soon as possible



                Thanks & Regds,
                Manoj Kumar



                --- On Mon, 18/4/11, manoj kumar <[protected]@yahoo.co.in> wrote:

                From: manoj kumar <[protected]@yahoo.co.in>
                Subject: Please Reply as soon as possible
                To: [protected]@sawantpfconsultant.com
                Date: Monday, 18 April, 2011, 10:39 AM

















                Good Evening Sir/ Madam
                I Manoj Kumar form panipat Kotak Securities Ltd ex-employee of Kotak Securities in Panipat Branch and my employee code was T 6908, and I had applied for my PF Withdarwl, so up to when i will get my PF amount credited in my account, ?
                Once the PF was credited to my account and after that one cheque was bounced, and detail are given below and also enclosing my bank statement for proof
                .so please send my PF in my Account Number [protected] ( SBI BANK, Krishan Pura PANIPAT BRANCH-132103) for these purpose I have sended Re-issue Letter and cancel cheque of my SBI BANK to your office address. And I got confirmation mail regarding sending the courier for Re-issue of Cheque Letter and Cancel Cheque. On 3 August
                Chq no. 628640 Rs. 5099/- Bounced ON 25 JANUARY 201 0
                Chq no. 621686 Rs. 2356/- Credited to my account ON 25 JANUARY 2010
                PF account number MH/ 41586/9162

                Detailed Statement



                Account
                :
                [protected]

                Statement Criteria
                :
                Date ranging from 10/12/2009 to 10/03/2010


                Status as on
                :
                25/01/2011


                Sr No.
                Value
                Date
                Transaction
                Date
                Description
                Cheque No.
                Withdrawals
                Deposit
                Available Balance
                1
                31/12/2009
                31/12/2009
                857141 CLG


                10, 717.00
                10, 713.00
                2
                01/01/2010
                01/01/2010
                ATM/CASH WDL/01-01-10/13:44:34/0

                10, 700.00

                13.00
                3
                25/01/2010
                25/01/2010
                628640 CLG


                5, 099.00
                5, 112.00
                4
                25/01/2010
                25/01/2010
                651686 CLG


                2, 356.00
                7, 468.00
                5
                25/01/2010
                25/01/2010
                REJECT:628640:REFER TO DRAWER

                5, 099.00

                2, 369.00
                6
                01/03/2010
                01/03/2010
                [protected]:Int.Pd:[protected] to[protected]


                7.00
                2, 376.00


                From: "reliableksl"<[protected]@sawantpfconsultant.com>
                Subject: Re: RE: About Pf information
                To: manoj kumar<[protected]@yahoo.co.in>

                Date: Wednesday, 28 July, 2010, 5:06 PM




                Your PF withdrawal claim has been settled & cheque details are as follows :

                MH/41586/9162-MANOJ KUMAR
                Receipt No.
                Receipt Date
                From Type
                Status
                90351685
                [protected]
                Form 19
                Claim settled vide Chq.no. 628640, dated[protected]
                90351686
                [protected]
                Form 10C
                Claim settled vide Chq.no. 651686, dated[protected]Data updated on[protected]
                Kindly check your saving bank account. If the same has been not credited your bank account please send to us your bank statement from January 2010 to till date.
                Thanks & Regards,
                Vandana
                Reliable Consultancy Services
                Contact no. [protected]
                V.G. Sawant.
                Reliable Consultancy Services.
                D-8/9, Plot No. 35, Saidham CHS.,
                Mhada Colony, Savarkar Nagar,
                Thane : 400606.
                Thanks & Regds,
                Manoj Kumar s/o Sh. Madan Lal
                H.No. . 386/6, New Ramesh Nagar Panipat
                Mb: +[protected]
                Dear Sir,

                I had resigned on 23 Dec 2015 but i did not receive my relieving letter.Kindly help me whom to contact.

                thanks & regards
                Sanuj Kumar(T14692)
                [protected]
                sanuj.[protected]@yahoo.com
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                  D
                  DHIVAGAR
                  from Surat, Gujarat
                  Jun 4, 2011
                  Resolved
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                  Resolved

                  keat x pro

                  Address: Chennai, Tamil Nadu

                  DEAR FRIENDS,
                  I AM USING KOTAK SECURITIES ,KEAT X PRO, DO YOU USING KOTAK SECURITIES SOFTWARE,KEAT X PRO.SOFTWARE IS PATHETIC & WASTE SOFTWARE.SOMETIMES I GOT ERROR MESSAGE, 'UNABLE TO DOWNLOAD CHARTING TOOL'.
                  THEN I UNINSTALL & REINSTALL THE SOFTWARE, TO SOLVE THE PROBLEM.SOMETIMES HANGS & CAN'T BUY OR SELL,MADE CRITICAL POSITION AT CRITICAL TIMES, .WHEN WE CLOSE & OPEN THE SOFTWARE AT NOT RESPONDING...
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                  Abhishek33
                  from Varanasi, Uttar Pradesh
                  May 26, 2011
                  Resolved
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                  Address: Kishanganj, Bihar

                  I am abhishek mohan , sub broker of nse( INS[protected]/[protected], affiliated to kotak sec ltd with last 4 years .
                  this is regarding bad business process and fraud by kotak sec to me in feb 2011.
                  Fraud and cheat of TOTAL rs 68000 in form of access charges of automated voice recording machine and vsat surrender valuation .

                  1.> Kotak sec has failed to provide the vsat agreement copy and DONE fraud OF rs 42000 in vsat surrender.HE ONLY BACK ME RS 48000 BUT IT WAS SAID FULL REFUND OF RS 90000 FOR VSAT I HAVE ALREADY DEPOSITED BEFORE 4 YEARS .

                  WHEN I ASK ABOUT THAT , THEY SAID KOTAK WILL NOT FOLLOW NSE RULES AND KOTAK WILL PAY ACCORDING TO KOTAK RULES ...BUT I WANT TO SAY THAT THERE WAS NO ANY RULE AS NOW THEY ARE SAYING . I ASK ABOUT PAPERS , THEY SAID KOTAK CAN NOT TALK THIS ON RECORDING PHONE LINES .

                  WHY KOTAK IS HIDING THE FACT .

                  2.>and started to debit my account for rs 26000 with no any intimation or prior consisting.
                  THEY HAVE SAID ME 2 YEAR BEFORE THAT THIS MACHINE HAVE NO ANY COST AND THERE WAS NO ANY NOTICE OF MACHINE COST.


                  my contact details [protected]
                  Aug 13, 2020
                  Complaint marked as Resolved 
                  Dear Abhishek,

                  We hear you. We will look into the matter and address your concern at the earliest. In the meantime, do share your contact details with us at service.[protected]@kotak.com so our customer care executive can get in touch with you.

                  Regards,
                  Team Kotak Securities
                  Dear Abhishek,

                  We understand your concern. Our Relationship Manager will get in touch with you at the earliest to resolve all the issues to your satisfaction. With regard to the AVR machine, we would like to state that it is one of the many best practices we follow to ensure clients are not misled at anytime. This is to safeguard the interest of all parties concerned. Please do share your feedback with us on ks.[protected]@kotak.com once your queries are resolved

                  Regards,
                  Team Kotak Securities
                  Hi Abhishek, was this resolved by Kotak?
                  Hello My name is Darshan KN
                  A Kotak broker named Doreswara NM chief agency partner took an amount of 50k to open an insurance policy . But he neither opened the insurance policy nor he refund my amount. It's been 5 months since he took the money .please help me ...
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                    A
                    ajain24
                    from Delhi, Delhi
                    Apr 20, 2011
                    Resolved
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                    Account closure request being ignored continuously for 2 months due to highly inefficient and unprofessional staff. All charges are getting imposed on my a/c. always contradictory response from customer service officials. HIGHLY UNETHICAL and UNPROFESSIONAL company.
                    Aug 13, 2020
                    Complaint marked as Resolved 
                    Dear Mr. Jain,

                    We hear you. Please be assured that we will look into the matter and address your concern at the earliest. You can also write to us at ks.[protected]@kotak.com

                    Regards,
                    Team Kotak Securities
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                      G
                      gopalsdsd
                      from Mumbai, Maharashtra
                      Apr 13, 2011
                      Resolved
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                      Address: Howrah, West Bengal

                      I’ve opened a demat account with Kotak Securities (Client Code -WCU59) one month back under commitment(executive Munmun) of brokerage of 30 paise on delivery and 3 paise on intraday.

                      However, I’ve been charged a brokerage of 49 paise on all my trades till date, which was identified by me today. This is a new low in service standard I’ve ever come across and frankly feel I’ll never ever come across this low standard in future as well.


                      Regards

                      Gopal.Y
                      Aug 13, 2020
                      Complaint marked as Resolved 
                      Dear Mr. Gopal,

                      We hear you. Please be assured that we will look into the matter and address your concern at the earliest. You can also write to us at ks.[protected]@kotak.com

                      Regards,
                      Team Kotak Securities
                      Dear Gopal,

                      As promised, we looked into the matter and have suggested solutions. We hope the problem has now been resolved to your satisfaction. Your feedback is invaluable to us. Please do write to us at service.[protected]@kotak.com for further assistance.

                      Regards,
                      Team Kotak Securities
                      Thanks Resolved
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                        C
                        cajainketan
                        from Mumbai, Maharashtra
                        Mar 23, 2011
                        Resolved
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                        Address: Pune, Maharashtra

                        This is relating to my opening Account with Kotak Securities on being trust of professional Organization and will help me in building wealth on my investments that were in delivery format.To my surprise the relation ship manager assigned to me has started trading on my account with out discussing with me about my risk apptitude or financial position.

                        Initially I thought he will do the needful by limiting my losses with Stop Loss and only to the extend I can afford my risk but he has gone on purchasing all risky investments like Bank Nifty / Calls / Puts and that also in large quantity in 1000 ,2000 that was not at all affordable or permitting my financial situation.

                        By the time I realized what is happening I already suffered losses to the extend more than 4 Lac Rupees. This is really disgusting as a professional firm like that who has appointed Relation ship manager should have taken step in minimizing losses if can not able to give profits but no help

                        I need help from you people as to what I need to do to get my losses back or how can broker can be penalized for not doing what I expected and told him to do as they only focus on there brokerages and not at all concern for our losses

                        You can reach me on [protected] to discuss further

                        KJain
                        Aug 13, 2020
                        Complaint marked as Resolved 
                        I DO AGREE WITH MR KETAN JAIN
                        I would like to know any Orgaqnization who are there to help people like us who can not able to afford legal cost and time to fight again and need to get our all losses and compensation from firms who cheated us and did not do any justice

                        Can any on let me know any such Organization who can help me out in Pune, please reach to me on [protected]@gmail.com or call me on [protected]

                        Regards

                        Ketan Jain
                        Dear Mr. Jain,

                        We regret the inconvenience caused. We request you to share your client id with us at ks.[protected]@kotak.com so our customer care executive can get in touch with you and address your concern at the earliest.

                        Regards,
                        Team Kotak Securities
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                          R
                          rajiv.manocha
                          from Mumbai, Maharashtra
                          Mar 15, 2011
                          Resolved
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                          Resolved

                          Address: Mumbai City, Maharashtra

                          Hi Team,

                          I’ve opened a demat account with Kotak Securities (Client Code -UFCD8) a couple of months back under commitment of brokerage of 10 paise on delivery and 3 paise on intraday.

                          However, I’ve been charged a brokerage of 48.899 on all my trades till date, which was identified by me in the 1st trade and reported to the Relationship Manager (mail attached for your records), Mr.Ajay Kharat at which he said he’ll get the same reversed in due course after the approvals are obtained. I’ve called him multiple times and he always says he’ll get back to me and has obviously never called back. This is a new low in service standard I’ve ever come across and frankly feel I’ll never ever come across this low standard in future as well.


                          I’ve also requested to get the account closed following which I got a call from customer care asking about the reason for same and later no forms were sent towards closure of the account. I would therefore request again to send me the complete forms to transfer my holding and close the account as I don’t want to deal any further with Kotak Securities.

                          Please feel free to call me for any clarification not provided herein.

                          Best Regards,
                          Aug 13, 2020
                          Complaint marked as Resolved 
                          Dear Rajiv,

                          This response is from Kotak Securities.

                          We regret the inconvenience caused to you.
                          With our relationship manager in touch with you we hope to have resolved your issue.

                          For any further queries feel free to mail us at ks.[protected]@kotak.com


                          Regards,
                          Kotak Securities
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                            H
                            HEERAJAGADISH
                            from Mumbai, Maharashtra
                            Mar 7, 2011
                            Resolved
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                            Resolved

                            Address: Hyderabad, Andhra Pradesh

                            Dear Sir/Mam,

                            I am Heera Jagadish Singh from Hyderabad.As i was cheated by every one in your kotak securities even all of your employers cheated me.i lost hope on kotak securities.

                            the reasons are

                            1) I worked for kotak securities for 24 days as i am not generating any business i came out from the organization without taking any salary because i did not generated any business thats why i refused to take the salary and i sent the salary back to the kotak securities.one of your executive-kotak securities (Mr.Naga Raju,[protected]) has opened a demat account on me by telling that he will add the money from his personal account as he is getting more pressure from his manager to sell demat accounts.i given a check of 750Rs and pan card,old address proof which i am not staying present.he told first he will deposit money in my city bank account then he will submit the demat account on my name.but he did not added the money from his pocket .sudenly the money is deducted in my account.i called that person he told he left the job and not to call me again.he also told me when he was submitting the account he will ensure my present address so that i can receive the kit to my home.but i did not reecive any kit.

                            2) I called to your customer care exceutive number of times for my query.i was cheated by your customer care executives also.

                            a) when i called to your customer care excecutive to close the demat account,these people asked me why you want to close the account. i replied them that i dont know how to trade and i dont have any time to do trade,because i am busy from morning 9am to evening 7 pm.they told that they will send me one executive who will explain me about the online trading account.but they did not send any executive from 3 months.

                            b) i called to your customer care executive again these people told me they will arange me one person who will do trade on behalf of me by guiding the stock market.but i did not received any call or mail or sms from your kotak securities side from 2 months.

                            c) again i called to customer care exceutive to close my account permanently so that i can get back my money.one thing that your marketing executive has not told me regarding charges as i particularly asked him is there any charges.your marketing executive told me that no you will not have any charges.dont worry there are no charges in kotak securities he told me.your customer care exceutives has told me to pay the charges so that you can get back your remaining amount which is in your account.

                            d) i asked to your customer care executive clearly that i have not done any trading so i will the pay the charges to get back my money which i paid to open the demat account .your customer care exceutives told me that if you pay the charges then you will get back your money back. then i went to the kotak secutities to pay the charges.i paid 133 Rs as charges then i asked remaning amount in how many days i can get back.After taking the money from my hand your kotak securities empoloyees said that you will not receive any money.if you do any trading if you get any any profit that amonut will be given back not the money which you paid to open the demat account.

                            I request you to please dont give any false information to the customers and i request you to listen the conversation between me and your customer care executives.so that you can know.

                            i am planning to publish my issues on deccan chronicle news paper so that every one will be alert when a person is coming from kotak securities.i am planning to publish my problems which i faced in kotak securities in my face book,twitter and orkut so that every one will read and understand the standards of kotak securities.i want to make a complaint on you by sending mails to ombudsman,consumer problems.so that they will ask you the what type of service you are providing.

                            Thanks & Regards
                            Heera Jagadish
                            [protected]
                            +1 photos
                            Aug 13, 2020
                            Complaint marked as Resolved 
                            Dear Sir/Mam,

                            I am Heera Jagadish Singh from Hyderabad.As i was cheated by every one in your kotak securities even all of your employers cheated me.i lost hope on kotak securities.

                            the reasons are

                            1) I worked for kotak securities for 24 days as i am not generating any business i came out from the organization without taking any salary because i did not generated any business thats why i refused to take the salary and i sent the salary back to the kotak securities.one of your executive-kotak securities (Mr.Naga Raju, [protected]) has opened a demat account on me by telling that he will add the money from his personal account as he is getting more pressure from his manager to sell demat accounts.i given a check of 750Rs and pan card, old address proof which i am not staying present.he told first he will deposit money in my city bank account then he will submit the demat account on my name.but he did not added the money from his pocket .sudenly the money is deducted in my account.i called that person he told he left the job and not to call me again.he also told me when he was submitting the account he will ensure my present address so that i can receive the kit to my home.but i did not reecive any kit.

                            2) I called to your customer care exceutive number of times for my query.i was cheated by your customer care executives also.

                            a) when i called to your customer care excecutive to close the demat account, these people asked me why you want to close the account. i replied them that i dont know how to trade and i dont have any time to do trade, because i am busy from morning 9am to evening 7 pm.they told that they will send me one executive who will explain me about the online trading account.but they did not send any executive from 3 months.

                            b) i called to your customer care executive again these people told me they will arange me one person who will do trade on behalf of me by guiding the stock market.but i did not received any call or mail or sms from your kotak securities side from 2 months.

                            c) again i called to customer care exceutive to close my account permanently so that i can get back my money.one thing that your marketing executive has not told me regarding charges as i particularly asked him is there any charges.your marketing executive told me that no you will not have any charges.dont worry there are no charges in kotak securities he told me.your customer care exceutives has told me to pay the charges so that you can get back your remaining amount which is in your account.

                            d) i asked to your customer care executive clearly that i have not done any trading so i will the pay the charges to get back my money which i paid to open the demat account .your customer care exceutives told me that if you pay the charges then you will get back your money back. then i went to the kotak secutities to pay the charges.i paid 133 Rs as charges then i asked remaning amount in how many days i can get back.After taking the money from my hand your kotak securities empoloyees said that you will not receive any money.if you do any trading if you get any any profit that amonut will be given back not the money which you paid to open the demat account.

                            I request you to please dont give any false information to the customers and i request you to listen the conversation between me and your customer care executives.so that you can know.

                            i am planning to publish my issues on deccan chronicle news paper so that every one will be alert when a person is coming from kotak securities.i am planning to publish my problems which i faced in kotak securities in my face book, twitter and orkut so that every one will read and understand the standards of kotak securities.i want to make a complaint on you by sending mails to ombudsman, consumer problems.so that they will ask you the what type of service you are providing.

                            Thanks & Regards
                            Heera Jagadish
                            [protected]
                            Dear Jagdish,

                            This response is from Kotak Securities.
                            Your Demat Account has been closed as per your request.
                            Our Customer Service team is unable to get in touch with you.

                            For us to help you better, mail your contact details to services.[protected]@kotak.com

                            Regards,
                            Kotak Securities
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                              S
                              Singh Shailendra
                              Feb 26, 2011
                              Resolved
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                              Address: Gautam Buddha Nagar, Uttar Pradesh

                              I invested in Kotak mutual fund in Feb 2007(atleast that what I was promised) but Kotak ( I can't remember the agents name properly but my best
                              guess would be "Dipesh". Anyway he cannot have done it without KOTAK's knowledge) invested my money in Kotak Insurance (Policy Number [protected] dated 13/02/2007). When I challenged the agent on why I money was invested in ULIP rather than Mutual Fund, he told me that this ULIP was performing better than mutual funds(my fault was that I took his words). To my question that I don't want to pay yearly premium,
                              he told me that I don't have to pay it yearly. All I have to do was to wait for three years and then I can redeem my money. As luck would have it,
                              I had to move out of the country for good and didn't persue it
                              believing in what Kotak's executive told me. Also for the fact that all my documents were in India I couldn't have pursued it further.

                              I was in India last month and wanted to invest all my parked money including the money parked with Kotak Securities into some good mutual funds. I went to one
                              of Kotak's branch in Lucknow and came to know that my account has been
                              fore-closed for reasons beyond the wisdom of common man. What was more worrying was the fact that nobody from Kotak ever tried to contact me through email or phone before foreclosing my account. What is more interesting to know here is that I have been getting the daily NAVs report from Kotak on a daily basis.

                              All that I want to tell here that these people are real cheaters and even after repeated emails from my side nobody bothered to contact me. I'll advise all people who want to invest their hard earned money, to stay away from Kotak at all cost. I'll like to take them to court so that don't do this to others any more ...can somebody suggest me a good attorney please?

                              Shailendra Singh
                              Aug 13, 2020
                              Complaint marked as Resolved 
                              Dear Mr. Singh,

                              Policies are generally foreclosed when a customer fails to revive the policy within two years of the policy getting lapsed. A letter informing the foreclosure of your policy was sent to you on February 13, 2010.

                              Our team is currently looking into the matter regarding selling of incorrect product and will shortly contact you with a clarification. In the interim, should you have any queries, you may write to us at kli.[protected]@kotak.com or contact our Client Service Desk on[protected]Toll Free).

                              Regards, Kotak Support Team
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                                S
                                somnathsahu
                                from Mumbai, Maharashtra
                                Feb 11, 2011
                                Resolved
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                                Resolved

                                Address: Mumbai Suburban, Maharashtra

                                KOTAK SECURITIES DID NOT CHANGE MY ADDRESS FOR 2 YEARS. THEY DID NOT SUPPLY ME A STATEMENT OF MY DMAT HOLDING EVEN AFTER REPEATED REQUESTS THR THEIR RM MR MANISH BANSAL. AFTER SEVERAL COMPLAINTS AND SEVERAL VISITS THEY CHNAGED TEH ADDRESS AFTER 2 YEARS AND THEN ONE FINE DAY TEHIR BACK OFFFICE SENDS A DEBIT NOTE WITH INTERST @23PC.
                                TEHRE SI CLEAR DEFICIENCY OF SERVICE AND THEY SHOIULD RECOVER TEH COST FROM TEHRI PERSONS WHODID NOT PROVIDE SERVICE.
                                WHEN COMPLAINED BY EMAIL & ALSO ON TEHIR PHONE 30305757 THEY ARE JUST NOT BOTHERED. THEY ARE VERY THICK SKIN FRAUDSTERS.
                                * IN PMS SELECT II THEY HAVE CHEATED THEIR CUSTOMER BY 50%.
                                ** IN KOTAK BANK ONE FINE DAY THEY CHNAGED THE MIN BALANCE FROM 0 TO RS 20,000/- AND LEVIED AQB CHARGES, AFYTER PROTESTS THEY REVERSED;
                                *** IN DEMAT A/C OPENING THEY COLLECTED TEH AMOUNT BUT DIDNT OPEN TEH ACCOUNT, WHEN PREVAIELD UPON THEY SAID TEH FORMS ARE CLOSED FOR INCOMPLETE DOX. WHEN PERSISTED IT WAS FOUND THAT ONE MR AMIT WAS REMOVED FORM SERVICE AND NOBODY BOTHERED TO CHECK HIS PENDING WORK..
                                Aug 13, 2020
                                Complaint marked as Resolved 
                                Dear Somnath and Snehali,

                                This response is from Kotak Securities.

                                We regret the inconvenience caused.
                                Your address has been updated in our system and your debit too has been reversed.

                                We hope all your issues stand resolved and take this opportunity to thank you for your feedback.
                                For any further queries or assistance mail us at ks.[protected]@kotak.com

                                Regards,

                                Kotak Securities
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                                  kittyberger
                                  from Delhi, Delhi
                                  Feb 11, 2011
                                  Resolved
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                                  Resolved

                                  Address: South Delhi, Delhi

                                  My name is Junaid Imam and I have a salary account with kotak bank. One of the agent named Devendra Sing Kathait
                                  came to my company and said that they had launched demat account for corporates which was absolutely free for one year without any account opening charges but later on a sum of rupees 750 was deducted from my account automatically. I called him up and informed him about the same but he told me that it was deducted by mistake and the amount would be credited in my account within a week but its more than a month and no nothing has been done as yet. I would really appreciate if you'll could help,
                                  thanks.
                                  Name- Junaid Imam
                                  Demat A/C No[protected]
                                  Mail Id- [protected]@gmail.com

                                  Bank Address
                                  kotak mahindra bank
                                  New Friends Colony
                                  Bharat Nagar
                                  Okhla
                                  N.Delhi
                                  Aug 13, 2020
                                  Complaint marked as Resolved 
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                                    S
                                    Snehali Sahu
                                    from Pune, Maharashtra
                                    Feb 10, 2011
                                    Resolved
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                                    Address: Mumbai City, Maharashtra

                                    It took Kotak Securities 2 years to update our new address in their system with proofs provided to them for more than two times. And now, that it is done they have charged us with interest for the same. As a result, our family account lies in debit and no one attending to our complaint
                                    Aug 13, 2020
                                    Complaint marked as Resolved 
                                    KOTAK SECURITIES IS A VERY BAD FIRM. THEY DO NOT GIVE ANY SERVICE AND SQEEZE THE CUSTOMER.
                                    kotak securities do not provide but service but levy interest on interest. they do not deposit the cheques sent to them, for months together and debit the account by interst amt.
                                    Kotak Securiteis grievance number 30305757 is a farce. they do not solve any grievance.
                                    Their PMS SELECT II was a FRAUD. They collected 10L and repaid 5L at teh end without bothering for customer interest.
                                    Dear Snehali,

                                    This response is from Kotak Securities.

                                    We wish to resolve your issue at the earliest.
                                    For the same we need your client details as our system is unable to track an account in your name.
                                    Kindly provide us with your contact details too to help us better.

                                    We take this as an opportunity to thank you for your feedback.
                                    You can mail your details to ks.[protected]@kotak.com

                                    Regards,
                                    Kotak Securities
                                    Dear Somnath and Snehali,

                                    This response is from Kotak Securities.

                                    We regret the inconvenience caused.
                                    Your address has been updated in our system and your debit too has been reversed.

                                    We hope all your issues stand resolved and take this opportunity to thank you for your feedback.
                                    For any further queries or assistance mail us at ks.[protected]@kotak.com

                                    Regards,

                                    Kotak Securities
                                    KINDLY TAKE THIS COMMUNICATION AS A PERMANENT REQUEST FOR PHYSICAL CONTRACT NOTES FOR EVERY MONTH BY THE FIRST WEEK OF THE FOLLOWING MONTH. CHARGES OF RS 49 PER MONTH FOR THE SAME MAY BE DEDUCTED FROM MY BANK A/C AS AND WHEN THE CONTRACTS HAVE BEEN PROCESSED AND COURIERED. I HAVE BEEN POSTING QUERIES RE THE SENDING OF PHYSICAL CONTRACTS EVERY MONTH BUT THE SERVICE RESPONSE HAS BEEN VERY POOR LEADING ME TO MAKE SEVERAL CALLS AND POSTING REPEATED QUERIES AND REMINDERS. PLEASE ENSURE THAT THIS IS NOT NECESSARY ANY MORE BY ACTING SPEEDILY AND PROMPTLY ON THIS REQUEST.
                                    MENA KIRPALANI
                                    KPC CLIENT ID M5U54
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