Religare Enterprises Complaints & Reviews

i had applied for Reliance Power IPO through Religare's Racepro account online.
since i did not get any news about allotment or refund of the money, when contacted Religare customer care executives just said that it beteen Karvy Consultants Hyderabad and us and they have nothing to do with the issue.
whereas the money was transfered by Religare from our online trading account with Religare, Religare wanted to wash its hands off any responsibility in addressing the issue of refund not happening even till today 26th Feb.
then when we persisted few days later they said that it will happen on its own in a few days.
all our emails to [protected]@religare.com, [protected]@religareonline.com, [protected]@religareonline.com went unanswered.
finally we got one link of m/s karvys web site which needed the application number and related details to show the status of our application. here too the emails from religare gave us not suffecient data to approach m/s karvy on our own.
when we again contacted the customer care executives they just said that they know nothing and we need to talk to the IPO department. when we did that we got irresponsible answers like 'even i have not yet got a refund', later we contacted Mr Mukesh a so called Area Sales Manager and he too took a while to get back only to give us an empty promise that he has spoken to m/s karvy hyderabad and the refund will happen in two days. its ten days later now that nothing has happened yet.
we got one email from customer care saying that the pay order has been sent to us but this too is a bluff.
i wonder how an organisation based in Delhi, can shamelessly operate in Mumbai without any body responsible to handle customers complaints. the most shocking thing is that the customer care executives when questioned why they do not reply to emails say that they have no authority to communicate to customers by email. they just read the mails and sleep on the issues. I HAVE NOT SEEN SUCH A DISGUSTING ORGANISATIONAL CULTURE EVER. require advice from one and all on how to get back my money from these ruthless .

Religare Sales Executive came and Explained me about trump 15000/- Race A/c .

1]
They told me i'll be getting an Exposure 6times of my actual margin which i can utilise in BSE, NSE-cash as well as F&O also.
i dissucussed the whole pattern in figures also they agreed to it.
""" afterwards when my A/c was active they said we don't provide Exposure for F&O."""
2]
Secondly , i also confirmed with them that they will provide me with everydays billing & contract notes in Physical at my mailing address without any Extra charges, they agreed for the same , but on very next trasaction on my account after activation i didn't received any so i called them @ back offic they said in reply Rs.20/- per Contract Note in Physical would be charged to you .

3]
They never Explained me About their MTM policy. where in if your Actual MTM goes beyond 50% than Religare automaticaly Square's off the Standing Positions in your A/c."" Which has made my loss of Rs. 98896.40 **

I have give my pan card to areligare employee named raju. He has told me he will return me next day but till now a month ha bwwn passed and there is a very rudy and pathetic responce from him. He is not picking up his mobile when we r calling. Now i am in great distress as i lost my pan card. Mr raju is working for religare vizag branch. Plz help

His mobile number - [protected]

Dear Sir,
I want to open my trading account with Religare Securities and I have applied through a broker X. On 6-Nov-2007 RS 5,000/- got deducted from my Citi Bank bank acount to "Religare Securities limited".When I called to the broker after 10 days to ask about the status of the application he told to me that the application git rejected bec of some reasons. I have provided him the extra information before Jan 10th. Now again he is saying that the application is re-rejected. In case of application getting rejected, why shouldn't I be getting my money back.
Its been 2 months 20 days that the same amount is with Religare securities.
I request you to help me on this matter.

i applied for relegare ipo of amount Rs 19,425 on 31/10/2007 at 13:47:38 and my transaction id is 4134482 and my application no.is 12535168 .
i applied this ipo online from my demat account (DP id IN303028, DP Account no.[protected]
no share was alloted to me and still i cant received refund order.
i have to face many problems due to not receiving of my refund amount.

REFUND REQUEST

DPID[protected]

D MAT A/C NO.[protected]

APPLICATION NO.[protected]

BANK A/C NO.[protected]

BID----RELLIGARE ENTERPRISES IPO

BID FOR-----245 NO. OF SHARES AMOUNTED Rs.[protected]/




NEHA SHARMA
DEAR OFFICER,

HI, I HAD APPLIED IN RELLIGARE IPO ON 30/10/2007.I DIDN’T GET D ALLOTEMENT IN IPO SO MY BIDDING AMOUNT (AS PER D TABLE GIVEN BELOW IN ORIGINAL) Rs.[protected]/ SHOULD BE RETURN BUT AFTER MORE DAN ONE MONTH I DIDN’T GET MY REFUNDED AMOUNT.SO LOOK IN D MATTER & MAKE SURE DAT MY REFUND HAS TO B SEND WELL IN TIME B’CASE IT’S ALLREADY TOO MUCH DELAY.

IPO - ORDER BOOK


Transaction Date Transaction ID Transaction Type Name Issue Code Application No. Amt payable / receivable Status Match Account DP ID DP Account

30/10/2007 14:01:40 4103639 Original RELIGARE ENTERPRISES LIMITED :RELENT NEWIPO 12517912 45,325.00 Executed [protected] IN303028 51270739

RELIGARE ENTERPRISES LIMITED :RELENT

Transaction ID : 4103639 Name : NEHA,,SHARMA Category : Retail
Application No : 12517912 Address : C/O SRI MANOJ KUMAR RAI,J-212, ,SECTOR-22,NOIDA,201301

CutOff Price Quantity Price in Rs. Value Status Exchange Ref/Date
Bid 1
245 185 45325 Accepted [protected]

Bid 2
0 0 0
Bid 3
0 0 0
Highest Bid Value 45,325.00


First Applicant Second Applicant Third Applicant




Registrar Contract Details
KARVY COMPUTERSHARE PRIVATE LIMITED
KARVY HOUSE, 46, AVENUE 4,
STREET NO 1, BANJARA HILLS,
HYDERABAD - 500 034
Tel: +91 [protected]
Fax: +[protected]
Email: NA

I had aplied for religare ipo application no 14824055, pan no aczpj0803 d. For rs 97125.00/- and was not alloted for any shares under ipo. I have received a refund order stating that my refund will be credited to my bank mandate ie centurion bank of punjab ltd vasco da gama goa branch account no [protected] through neft intimation no 664922 on or before 15 nov 07.

2. Its 14 dec 07 today and i have not received any money til date. I have called up karvy office hyderabad so many times but my refund has not been credited to me till date nor a fresh cheque has been issued to me.

3. This has caused severe financial losses to me due to blocking of liquidity. It is requested that the matter be given at most priority and the money to be paid back to me by issuing a fresh cheque to me.

4. My present contact no is [protected].

Dear Sir,
i am a small retail invetor having demat a/c in religare securities with client id .......(omitted due to security reason)
On 4th of december-07 i traded in few scripts including BPCL in intraday, at 15:30 in my net position its showing that everything has been squarred up. In the next morning i got a call from Mr X from religare and he was asking some confusing questions about BPCL, that time i was in a bus and i...