Kotak Securities — Loss due to Trading Platform Failure - Kotak Securities

Address:	New Delhi, Delhi, 110088
Website:	www.kotaksecurities.com

I am having trading and demat account with Kotak Securities. On 9th Feb, 2017, trading platform of Kotak Securities failed resulting in non execution of square – off trades on my intraday purchases. My dealer assured that as this is a trading platform failure, Kotak Securities will reimburse the losses. He forwarded my request for reimbursement and assured that I will be receiving the reimbursement within nest 15 working days.

For one month, I was following up with my dealer and he said he is arranging necessary approvals. Then he asked to contact customer care as he was unable to get the approvals. I lodged a complaint on their customer care immediately (10th March, 2017). Since then I am constantly following up with these guys only to get their standard response that we are still working on it. I have also escalated the matter to Level 1 escalation and level 2 escalation matrix but for no avail. During my last conversation with Mr. Ashish Savla (1st Escalation Matrix) on 6th April, he asked for time till 11th April for definitive resolution of issue. But still I have not received any communication from their side.

It has been more than two months now since but they have not been able to address and resolve such small issue.

This is a perfect example of worst customer care services and worst internal procedures wherein the company is unable to get approvals for reimbursement to customer when they themselves are at fault.