Kotak Securities — Playing Fraud service from Kotak Securities for 2.5 years

Address:	560100
Website:	www.kotaksecurities.com

Dear Sir,

I am writing this to express my concern and frustration over the service I received from Kotak Securities and has been pending since 2+ years without a solution. Every time I call up the customer care or speak to the branch manager, I get no results. To highlight the issue,

Situation:
I came to the bank to meet Madhursudhan Nair for banking query as I wanted to transfer money from MYR to INR. Since Madhursudhan was not available in Jaksandra branch on that day, I was introduced to Jay and Abhishek who convinced me the below points to purchase a DMAT account with Kotak Securities. I was promised the below,
a) I would get a DMAT kit which would contain all the information required for me to access my DMAT account
b) I would have a person coming to my home to explain the demo of how it works and create my logins in the system.
c) I would get daily/weekly updates over SMS on the shares drop and ups.
d) I will have a dedicated person who would call me weekly to update me the progress and how the market does.

Problem:
In-spite of me telling Jay that I have moved to a new address, he took my old address and told me that he would collect the Kit on by behalf and send it to me. This kit never came to me. I waited for 1 month and than I escalated the same to the Kotak securities and spoke to some folks in Mumbai, but yet no response. I wrote to Ajay Pai who inturn connected me with Dinesh from Kotak Securities and we had a long conversation, which Dinesh took an action to revert. He never came back after that. There were few email exchange between me and Ajay but Dinesh never showed up. There was no contact number of Dinesh for me to reach him out.
Another point I would like to mention, Jay also told me to transfer 1 Lakhs from my Kotak Saving account to my Kotak Securities account so that I can avail a 2 year free membership with Kotak securities. This was later transfered back to my saving account as the securities account was never created.

Open Issues:
1. This account has been opened 2 years ago, and I still don’t have the account number, Logins, balance details nothing.
2. I have been running behind Kotak for solution and none of them have responded back or taken any action. I have all most all the email conversations with me.
3. Rajeswari (Branch Manager) and Ajay took some action to work on it but never materialized. Whereas Ujwal (New Branch Manager) whom I spoke on 30th March, runs away from the problem and tells me that he would not know what the old people have committed.

When I told Ujwal that I will have to file this as an act of fraudulence in the consumer court, he happily says please go ahead and do whatever you want. This shows the poor interest to understand the customer. I have been holding the saving account with this bank for more then 6 years and now I would like to take serious action against this bank.