Kotak Securities Complaints & Reviews

Relationship manager tradibg without permission of client. Made huge amount of losses. Short sold shares without asking client made a loss and asking huge amount of money. These private companies dumping their pockets with money from brokerage so they keep on buying and selling shares like mad. Anand branch is a big fraud branch. Looting people locally

A/c not closed despite request-not operated even once, requests for closing umpteen times to relationship executives didn't help. Now demanding money even for closing, having already eaten up initial deposit in thousands.
"your request for account closure in your account ux2b0 / 22221736, ref id 22600916, has been rejected. For details call [protected]/[protected]"
Last sms and a call from
[protected]-yash soni kotak securities.

Reference is made to my telecom to your customers care and attached mail. I am very dissatisfied with the service and discussion with your executives. You are requested to take cognizance of following facts and close my demat account.
1 kotakt executives while opening the demat account visited my house and made a lot of promises but what the service i got i lost my all money as per your executives advice.
2. When i lost my money no executives from your organisation helped me in trading.
3. I stopped trading as there was no guidance from kotak
4. Kotak was continually charge debit advice to demat account, selling my scripts and adjusting debit.
4 today i came to know even account is blocked kotak is continually charing debit advice and interest thereon without providing any service.

I fill grossly cheated by kotak.
It is my request to reverse the system generated debit advice without providing any service and close the account on top priority.
Regards
Priyamvada pathak
Accouy no inna7
Cell no [protected]/[protected]

Following is the mail received from kotak today

From: "avadh pathak"
Sent: tue, 27 aug 2019 17:37:07 gmt+0530
To:
Subject: pavadh

Please see your mail below regarding debit charge. This is for your information that you have closed this account for any transaction years back, you have sold out my all the shares and not given a single rs. You are requested to stop sending this debit advice and send the confirmation.
Regards

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My name is Flora Catherine. 2010 June I started my policy. I took 2policys. That insurance person told us u have health insurance including in this. But when I got health problem hospital is not willing to take that as a health claim. My policy no 2544708. An other is 2557257. In between from company side they stopped to auto debit. Now at least I need my money back. What I paid.

Hello sir,

The kotak securities is handling my account and doing transaction without my consent. They have deducted rs.1179 and rs.230 in the name of demat account. I have recorded the call with the manager where he said its free and no changes. Even, he said all the charges will be reverted back. Its more than a month and the issue is still not solved. They are deducting money our hard earned money with false claim. I want...

Hi, am ruzbhay bapooji from hyderabad and i've been a loyal customer of kotak securities for aprrox 5 years now. I've been using odin as the platform for trading and since this doesn't have charts i'd requested your agent mohan ([protected]) and your employee varun kumar from a long time to add charts to ease trading. Mr. Mohan kept promising me that he'd get me an online service platform which has all these features and assured me that he'd get me this by april 01 '19. However, today he informs me that since i've got an account with hsbc i can't avail this software. Is this a joke or is this true? Ive asked them the name and num of your ombudsman, however there was no response from either of them. They say they can't assist me and that i could either continue with odin or close the account. I've chosen the latter, however i want to put in a complaint as to how ill informed your people are and their attitude towards a client. They make a professional company look like frauds.

Please revert asap.

My cell num is +91 [protected] and my mail id is [protected]@hotmail.com.

From ~15 days kotak employee mr. Vishal is calling me from no.[protected]. He informed me that he is manager for my account.
He continuously pressurizing me for investment in f&o.
I repetitively told him that i do not have any background on f&o so i am not interested to invest but he was calling me almost daily.
I informed him that i will sit with him & understand the basics about f&o and then i can think of any investment.
He told that he is getting guidance from kotak & based on that he is suggesting. I was declining everyday.
On 14th march - he called me again & pressurized for the f&o. I again told him that i do not know anything about f&o. He called me about 5 to 10 times on that day. He told that the investment is of 6000 rs. Only & brokerage is also 20 paise for me. As he was calling repeatedly so i agreed for 6000 rs. But when i saw the bill on friday. It was of 20000 rs.
When i checked the bills the transaction was not for 6000rs. & the brokerage was not charged as per 20 paisa. It's a fraud done by kotak employee
I called him on friday morning 9.00 a. M. On[protected] for explanation. He told that he will call back after checking the bills. I asked him to connect me with his boss which he told he will call back & connect me with the boos which he didn't.
We thought he may connect us after working hrs. So we called him at 4.30. He told that he & his boss is checking the bills and will call us. I havn't received any call from last 4 days.

I also noticed that he had done banknifty & hdfc bank intraday orders also in my account which he cancelled afterward. These actions are also done without my permission.

Kotak offered me a credit card which i accepted. I have been paying dues on time till september 2018 after which i am out of work. My account was marked lean in october although i paid more than the minimum due. I paid another amount again the next month but account stayed with len mark and i was told i have to clear full outstanding to get that removed which was obviously not possible for me.

In january 2019 i received call from an employee (Not declaring name here in public forum). I told the employee about my problem and said i am in lookout for a job after which i shall pay. Max it would take was a month or two till which i requested their cooperation.

Soon after that, in a couple of days i received whatsapp from the employee stating he/she (Not declaring on public forum and shall hence forth refer in the same fashion for the exact reason) would be making my payment on my behalf to which i vehemently opposed as i wouldn't want anyone to pay on my behalf.
I then started receiving whatsapp messages stating he/she had already made my payment and when i asked why and how could he/she make that payment without my consent then i was told he/she was under pressure from his/her manager!!! This seemed unethical to me already.
Then i received personal bank account details (Available with me now) of the employee with statements saying i have cheated him/her and now must pay in his/her personal account!!! I was puzzledand said this is extortion to which i was told doesn't matter and that i have committed great sin by doing it. I even confirmed that he/she was indeed an employee of kotak mahindra.
(All details, whatsapp screenshots are saved with me)
I actually checked back to see if indeed some payment was done on my behalf and found there was none!!!

Now i received calls from another kotak mahindra employee who started threatening me on the call referring to me as a thie[censored] I was told that they would call all friends, family and previous employees and also mentioned they would put up notice on my door that i am a thie[censored]

I am depressed, i have never misbehaved with any of their employees and am sure kotak mahindra will also have all call recordings.

If immediate action is not taken on the subject, then i shall be forced to file harassment and vicarious liability for fraudulence and extortion against kotak mahindra.

Team,

This is the second time i am filing a complain. Kotak securities have fraudulently flew my 2.5 lacs. And still continuously asking for money in lieu to recover and still just focusing on their brokerage.

I am in serious debt and this is the last time i am going to write it to you, next step is to file an fir in consumer court (Sebi) against kittu, atit, ashutosh (Employee of kotak securities, ahmedabad).

I have given them more that 3 months and not even a single penny has seen recovered, whereas, they have been promising to do the same since long, refer attach email.

Abhinav jain
8zsn8
[protected]
Abhinav. [protected]@gmail.com

I have been tolerating this since long, now a days these guys aren't even picking calls. Asking me to visit, connect regularly buy nothing happen. Brokers seems to be uneducated and just sitting to press buttons suggested to do, do not have even 1% self confidence and knowledge to take a decision.

This is an extremely hard earn money and this was my life saving which they have all taken just for they benefit.

Hope above is enough to convey my condition. Expecting a quick and result oriented help from you guys.

Best,
Abhinav!

Dear sir / madam,

This is with reference to your query, regarding employee number 126251

We have dispatched demand draft for transfer of your pf to revised address as mentioned by you.
Please find below dispatch details:

Courier company : blue dart

Send date emp id particulars address pin code pod
29-jan-19 126251 pf settlement demand draft hr manager, kotak securities ltd bandra - 400051 [protected]

I am being cheated and harassed by Kotak Securities now.

I lost 1.36 lakhs due to negligence and wrong information by Kotak Chat Executive, and also lost profit of 18000 (approximately) for 1797 shares of Dilip Buildcon which had to be squared off. The square off was not done on time and hence I suffered a loss. My delivery stock of the same scrip was sold at a lower price on 19th September 2018 due to Kotak's mistake.

After about 4 months of follow up, Kotak is ready to reinstate my delivery stock of 1141 shares, and give me around 15000 rupees as compensation. I informed them the loss is higher and also that I had already reinstated the shares, so please reimburse the cost of those shares minus today's price or lowest price in 4 months (which is 400 rupees lower than the price I had bought on), to which they don't agree and reply vaguely.

Now I am approaching SEBI, Banking Ombudsman, Consumer Redressal Forum, NCLT, ROC and also take action as per Insolvency and Bankruptcy Code.

My name is naval gupta, karta of naval gupta and sons huf.

I have been trying to close my trading and demat accounts for almost one year now. I have followed different processes and submitted applications multiple times. But they are not helping me with this account closure.

Please note that it is a mandatory compliance requirement for me to close this account to comply to my wife's employer guidelines and policies.

Details:
Date of initiation of account closure: march 2018
Escalation on emails: june 2018 to november 2018
Last paper request filed on: 19 nov 2018

Email ids used:
Bijoy. [protected]@kotak.com; vasu. [protected]@kotak.com; service. [protected]@kotak.com; ks. [protected]@kotak.com; ks. [protected]@kotak.com; service. [protected]@kotak.com; prashanth. [protected]@kotak.com; praveenkumar. [protected]@kotak.com; suchitha. Kini

Kindly help!
Naval gupta
[protected]/[protected]

I bought 190 units of L. & T on 17thjan.the order was suoermultiple and was squared up @ 3.17 pm ; then one more order was executed @ 3.23 pm by the system on same day SELLING 190 units of L & T (this order was not put by me).
I immediately complianed about it to the broker.
The brikerage house squared up automatically the position next day and put liability on me ( including brokerage cost and short fall of my margin).
In addition when I took another position on Friday system did not allow me to square up even I was in profit if more than 4000 rupees.
The brokerage asked me to square up position mentioning my margin will shortfall which was due to again their system mistake of previous day.
Yet system did not allow me to square up on Friday also I again filed complain on Friday and also on Monday. Customer care executive told Mei should transfer the margin amount say almost 32000 buck to solve the issue which was clearly due to system failure.
And now I received email mentioning the L & T will be settled by auction and cost will be born by me. ( In fact the whole thing happened due to the system fault and I should not be liable for the cost)
But brokerage house tried to shrug off their responsibility.

Before lodging complaint i wish to advise everybody dont open any demat account with kotak mahindra bank. Because they are cheating the public. I had a demat account with kotak securities client code jp6d0. My name is r. Santhi. When i opened my account initially they told us that charges will be levied for transactions done at 0.25% on each purchase and sale transaction. Due to the wrong guidance of mr. Suman executive of kotak securities i lost about rs.1.00 lakhs in tranctions. But when i want to close my account he said that my account is at a loss of rs.4.00 lacs. Some hidden charges like interest for the limit, turnover tax etc which were not advised earlier have been debited to the account. I want to go to consumer forum. I had a doubt that some of my sale transactions have been routed to the account of mr suman executive instead of my account. I request you to investigate and advise us

I have given a cheque no 275759 on 13.12.2018 for rs1300/ in favour of kotak securities ltd. It was not presented for clearing before 05.01.2019. When i visited dhanbad office, it was presented for clearing and my account has been debited on same date. But returning charges of rs110.00 & rs500.00 debited on 08.01.2019 for insufficient fund. Mr santosh at dhanbad office did not reply satisfactorily. Please return the amount deducted for insufficient fund.
A/c soviz sudipta kumar mitra, mob [protected].

Hi

On 30-may-2018 some made fraud in my account. I have raised complaint in bank but still did get any positive response. However i was out of station for that week and my all document like complain, account
information etc all are with me. I have raised police complaint also but still there is no progress.
I need my money back please help me its huge amount
my demate acount no:19171278, trading code:PNO 00, ACCOUNT NAME :PARSHOTTAM BHAI G HIRPARA,
This account oprate by other person without my permisson, sell my share on any unknown account, they change my email address and also my phone number.tranfer my share offline without my preasent also cheap my money.branch manager give him to permission tranfer my share any other account without my present and my brocure name is mitesh manoj vyas.they give me wrong my account statment so i have no idea any fraud.i will submitt all document so kindly read all document

Dear sir/madam,

I would like inform to you. My wel come kit not received as on date. And bluedart courier service is very very bogus. Right now not received kit. And last 3 days i see tracking courier. And the track was your door close. But actually my home is already open. Last 2 days bluedart custmer service says your courier received before 6 :00 pm. But actually not received any courier.

Please help and necessry action.

सर,
मैंने, अपने अकाउंट बंद करने के लिए पहले भी मेल करी है, लेकिन मेरा अकाउंट बंद नहीं किया जा रहा है, मुझे कभी किसी से कभी किसी और person से बात करने के लिए कहा जाता है, और मैंने कई बार आप के जनकपुरी ब्रांच ऑफिस दिल्ली में बात करी है और क्लोजर फॉर्म भी दिया है, लेकिन वह मेरा अकाउंट क्लोज नहीं कर रहे हैं, कुछ ना कुछ रीजन बता के अकाउंट क्लोज नहीं कर रहे हैं कृपया करके मेरा अकाउंट जल्दी क्लोज करें, धन्यवाद
Anju
Client id. XF 518/12780933

Dear team,

My client id is 22891508, i have opened an demat and trading account 9-10 months back, but after some time when i went to close the account in your branch in sector 8, madhya marg chandigrah, my request was not processed by relationship manager mr. Vishal vide: mobile number [protected]..

He stopped my cancellation request by stating that he got target and can not close the account for first 6 months of account opening.

I clearly told him that i will be charged for maintenance charges for not doing transaction in my demat account, but rm assured me that he will get this money waived off, i waited for 3-4 months, again given fresh request 30 days back in chandigarh branch for closure of my account, rm vishal has taken my request and told me that he will reverse the amount charged in my account for around 400 rs and will close it in 4-5 days..

I am shocked to see that while opening account, he was cribbing and now for closing the account i am doing the same thing??? I feel that i am not so important and does not carry that much of net worth which hni clinets carry for your organisation, so request you to reverse my hard earned money in my account and process my account closure request..

Totally unprofessionalsm...

Sonu verma
[protected]
Chandigarh

Dear Sir/ Mam,
My concern is that I'm not able to show the complete account ( not able to add money through mobile Kotak securities application ) only showing login and logout on my app. Before that I'm only request for stop sms alert facility on my mobile of Kotak securities account but after few days in my application the above problem is occurs.please do the needful.