Kotak Securities — Denial of services - Name change

Address:Chennai, TN, IN

I have opened trading and demat account in Kotak securities couple of months ago. My name is Bharath Rathnakumar.
Wherein as per Kotak securities, they have pulled out my name from PAN site(Income Tax) which is Rathna Kumar Bharath and feeded in their records. At the time of video KYC from kotak, the staff with employee ID SG81833, confirmed that all details are verified and are correct. She gave an on call confirmation and post which Kotak securities opened my accounts. I do not know on what basis my accounts were opened where the video KYC staff gave a false commitment. Through Kotak securities I came to know that there is a mismatch in my name sequence. So I had to do the needful to rectify the mismatch in my name sequence and corrections are made.

Now, as per PAN site(Income Tax website), My name is Bharath Rathnakumar. Even after the changes are made and all are in place and after submitting the Name change request form and self attested Pan copies as directed via mail from the escalation desk, the entire kotak securities team(starting from the Call center executive(Call/Email/Chat representatives), the branch staffs, are throwing the ball on the other court and not approving my request.

The documents were collected by Mr. P Venkatesan with employee ID: KS22234 on Monday(04/10/2021). I didn't get any response from them regarding the status of my request till yesterday afternoon. So I had contacted the concern team and spoke with Mr Chetan Sharma, from the Name updation team located at T-Nagar, Chennai with employee ID: KS20148, he informed me that my request is rejected. In yesterday's[protected] call conversation he gave an upfront statement that he had already informed kotak securities multiple times not to accept(collect the documents) the customers request as it is a change in name sequence which cannot be processed as per their process. Even after that I had received a mail from Ms Twinkle Jaiswal(Escalation Desk) On Fri, Sep 24, 2021 at 12:10 PM
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Kotak Securities customer support has been notified about the posted complaint.
Oct 09, 2021
Updated by Bharath RathnaKumar
The documents were collected by Mr. P Venkatesan with employee ID: KS22234 on Monday(04/10/2021). I didn't get any response from them regarding the status of my request till yesterday afternoon. So I had contacted the concern team and spoke with Mr Chetan Sharma, from the Name updation team located at T-Nagar, Chennai with employee ID: KS20148, he informed me that my request is rejected. In yesterday's[protected] call conversation he gave an upfront statement that he had already informed kotak securities multiple times not to accept(collect the documents) the CUSTOMERs request as it is a change in name sequence which cannot be processed as per their process. Even after that I had received a mail from Ms Twinkle Jaiswal(Escalation Desk) On Fri, Sep 24, 2021 at 12:10 PM
Verified Support
Oct 11, 2021
Kotak Securities Customer Care's response
Hi Bharath, we’re sorry to hear about your experience. Please share your client code and registered contact number with us via service.[protected]@kotak.com for our team to get in touch with you at the earliest. Alternatively, you may also chat with us directly via bit.ly/kslchat
Oct 12, 2021
Updated by Bharath RathnaKumar
Z7SBA
[protected]
Oct 12, 2021
Updated by Bharath RathnaKumar
Review on services from K-sec has been updated in playstore also. PFA
Stringent action must be taken on the chat representatives.

Oct 16, 2021
Updated by Bharath RathnaKumar
To: deepakr.[protected]@kotak.com; ks.[protected]@kotak.com; ceo.[protected]@kotak.com; ks.[protected]@kotak.com; ks.[protected]@kotak.com

Hello Deepak,

If neither you nor any of your officials are able to solve my grievances, I request the management to at least assist me in transferring the shares to another broker & close all accounts in K-sec(Demat & Trading account) and Kotak Mahindra(SB account) as well.

I am no longer interested in continuing relationship with such a useless institution(KOTAK).

I hope that the management will be able to assist at least in this regard.

Dear Jaideep Hansraj & Manoj Agarwal,

I hope this email finds you well.

The banking & Securities license must be withdrawn from Kotak by the RBI & SEBI as well. I Feel ashamed banking with KOTAK as a NTB customer.
Nov 05, 2021
Updated by Bharath RathnaKumar
Complaint registered in consumer complaints portal on 09-Oct-2021. Not yet resolved.
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Hi Bharath, we regret the inconvenience caused to you. Based on the details provided, your query has been forwarded to the concerned team. They will get in touch with you regarding this.

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