Kotak Securities Complaints & Reviews

my client id is-cxw20, place-sagar m.p
the franchisee owner of kotak securites of sagar branch iis very irresponble& careless.i have sold my stock and told him bring the check of it but he pays no attention on that.i continuosly remind to his operator abt that but he said he was not coming to the office so he{operator }promise me to remind him,
after reminding 12 times to his operator when i got chance to talk to owener he said that he no information abt that
before opening the account he commits me that after selling thre stock the cheque of that amt will come within 3 days

1. Apr 07 I requested Kotak Securities to update my bank details in my Demat profile.

2. As requested by Kotak Securities, submitted required form duly filled in with sample cheque leaf by courier on 21-04-08.

3. On Apr. 26 Kotak Securities wrote me, "we wish to inform you that we are in receipt of your Documents at our Head Office and your Bank details will be updated shortly. "

Since then Kotak Securities have done nothing and after reminding them several times they again asking for 1) Letter with the request to change the details mentioning the new account number and whether the change has to be effected in DP profile. 2) Cancelled cheque leaf of the new bank account which I have already submitted for which they have given acknowledgement.
I HAVE DONE EVERYTHING STILL MY BANK DETAILS STILL NOT UPDATED.

I invested with kotak considering it to be a very reputed company. I invested a big amount with kotak. Being a client with huge investment, iam sorry to say that you have really il mannered employees who literally insult your clients. Who will invest with kotak, to get insulted?? Your employee MR. PRAKASH ARYA from CHANDIGARH BRANCH, is really ill mannered person. He does not know how to deal with a client. And after dealing with a client, he insults them. What kind of employees do u possess?? Is this the reputation of KOTAK??? Thank you very much for the regard given to us by your employee.

Hello,
I am Saurabh S Dhakate and I live in Nagpur. I have trading cum demat account at Kotak Securities Ltd., Telephone Exchange road, Central Avenue, Nagpur. I had some shares in the pool account. So I asked the manager to hold on the shares till the closing bell of that day. He had no problem then. But to my surprise, I got the news that my shares well before closing bell. I really got disappointed by this kind of non-sense behaviour from KOTAK SECURITIES LTD. He sold them at the lowest point in the market. Now I want to ask KOTAK SECURITIES LTD. whether they can let me buy those shares at the same rate? THe answer is NO. I am not going to pay even a rupee for any of the debits caused due to such kind of behaviour.

I am going though an ordel right now , trying to fight Kotak Securities Limited. I have , finally after failing to get them to reset my trading password or change the mailing address in my account for the past 2 months, filed a complaint against their service to the Bombay Stock Exchange.

Below is the letter I have written to the exchange :

***********************************************
Sir

Attached is a complaint against Kotak securities limited, whose reputation for poor service to its customers is becoming legendary.

I hold an account with them, Client ID X5*** Demat account number 1259**** through which I trade in shares and apply for IPO’s. For the past 2 months, I have not been able to operate my account as my password is not functional, during the 2 months, they have not been able to provide a password or change the mailing address of my account – despite email reminders, submission of forms, personal visits to their branches and speaking to their customer service people in their Mumbai Office. I have the following complaints against them :

1. Bad attitude of the employees
a. They don’t care. The have no idea of what customer service means, and the volume of work they have can’t be handled by them
b. They are uneducated and not trained. They don’t know how to respond / behave properly or how to resolve the customers complaints. They make false commitments.
c. If you want to see for yourself the conditions in which they work, please visit their office at KG Marg, New Delhi and try to get some information from them
d. They are fed up of the company they are working for because they know they cannot provide service and customers harass them.

2. Complete failure of systems
a. None of the phone numbers of Kotak securities are accessible by customers. Please try calling their helpline number 30305757 from Delhi and see for yourself
b. The website mentions the head of customer service as Lakshmi Sundaram – if you speak to their Mumbai office they say she’s not the head – and no one knows who the head is.
c. Despite having recd customer complaints , a simple task of change of address hasn’t been done by 6 employees I have spoken to. Below is a mail from them, dated 19th Jan 2008 and 29th Jan 2008 confirming that all documents were recd – but no action was taken.
d. If you somehow manage to speak to the customer service people, they don’t know what to do. Further, as explained to me by one of these customer service people, they have no team leaders, no seniors to whom they can transfer cases that they can’t handle

3. Failure at Head office level itself
a. If the head office of a company can’t resolve issues, how do expect others in the company to do so ? I have personally spoken to their customer service people – Nikita @[protected] , another responsible person at Ext 191 and the companies board lines at [protected]. No one in the company knows what is happening or how to handle complaints.
b. The people at the head office agree that they are aware of all these problems – which shows their attitude. Despite being aware, they cannot do anything.


In the past 2 months that I have not been able to operate my account, I have lost significant amount of financial benefit that I might have gained, besides, the trauma of going through such harassment needs to be compensated.

A quick search on the Google shows that many, many customers all over India are being harassed by this company’s service, here are some for your referral

http://www.mouthshut.com/review/Kotak_Securities[protected].html
http://www.mouthshut.com/review/Kotak_Securities[protected].html
http://www.mouthshut.com/review/Kotak_Securities[protected].html
http://www.mouthshut.com/review/Kotak_Securities[protected].html
http://www.mywoes.com/complaintdetail.asp?complaintid=3921
http://www.consumercomplaints.in/complaints/online-trading-account-c27697.html
http://www.traderji.com/investors-grieviences/9077-kotak-securities-cheating-cus...⇄


I request you to take immediate and stringent action against this company – to set an example and to let customers know that BSE stands by them. I would be happy to prove my claims if need be.

********************************************************

Please be aware - in case you want to open a demat account or online trading account, Kotak Securities is what you should stay away from

Airtel Post paid connection

Billing and Incomplete Information on Schemes
The Company Airtel provides fascitly to activate various schemes etc via sms. same are activated on own. later when customer uses the same it gets deactivated. later when reversals are asked for customer care doesnt reverts and reports as querry closed. all of a sudden in your followup period outgoing calls are deactivated.

To this i have been marking mass mails to public stating

Form Group and Login case agaist Airtel

As i fond maximum number of complaints being loged in agaist the Airtel i think we all should form a group and take some serious action against the company as a whole.

Interested people may please reply me @ "jasmeena.[protected]@kotak.com"
.