[Resolved]  Kotak Securities — Fraud by Kotak in trading

Address:

Bangalore, Karnataka

TOoday I gave instruction to one of Kotak securities staff to make a sell 1000 Tata Elxsi share ONLY if it reaches 615 (lower limit) and 650 (higher limit) from my existing holdings. Even I made sure that she understands but she sold off immediately at the market rate of 628 prevailing at that time and made a net trade loss for the day of Rs. 8100.Immediately I called up and she said she will forward this to her manager to deal and when I spoke to the manager she said she will get back to me in next 30-45min and when I didn't get call even after 2 hours I called up the contact center to hear that she is busy. However, I got a call from her after my call. She assigned me by Name Ashish who did other transactions. But again while transacting he was pushing me to buy more Tata Elxsi so that I average out the losses I was made to have by his colleague. But I didn't bulge. Again at 14:51 I had a call from service agent who started saying that Koran cannot pay back and he started to indirectly threaten me saying Kotak will not make the payment for the loss of Rs.8100 which I objected and told him to behave properly and follow SEBI and RBI guidelines than threatening me and also requested him to given me a statement on the letter head that Kotak cannot make Rs.8100 payment which is a fault from your agent. Apart from this I also asked whether the lady agent who did that wrong transaction is Certified or not for which I did not get any answer! I