Sharekhan Complaints & Reviews

Dear Sir/Madam,
I have applied for Coal india IPO through Share khan Ltd. , CHANDIGARH OFFICE , SEC 38C.with following details :

Application no. : 37823006.....
INVESTOR NAME( MYSELF) : ASHUTOSH MODI
Category : Retail investor
Share khan client ID : 18598064
share khan dpid : IN 300513
Through Icici bank ( sec-9, chd ) chq no.960090 ( Statement attached for debit of Rs.98,000)
of Amt Rs 98,000

No shares alloted AND NO MONEY REFUNDED AS OF DATE ...when shares of Rs 48,000 have been alloted to all retail investors...why ??????

I have escalated this issue to the share khan branch/ REGIONAL Manager,chandigarh Mr. Pushpender and Ms. bharti in chandigarh office....Mr. pushpinder has stopped to pick my phone...Ms. Bharti being a junior executive has tried her best but is not able to provide me with an solution TILL EVENING TODAY...except a big sorry...

what...if you lost 20,000 in a day !!!!It only pinches when it happens to us...
the share has almost appreciated 35% on its 1st day of trading..who will answer....

!!!! This is how Diwali is celebrated...Hope to hear from u asap....




icici account statement clearly reflect debit of 98000 on 25th october.

Account ID : [protected]



Available Balance : INR 7,037.47
Cheques in Clearing : INR 0.00
Linked FD Balance : INR 0.00
Total Available Balance : INR 7,037.47



Available Balance as on 04/11/2010 : INR 7,037.47



Latest 10 Transactions



Sr.No Date Description* Cr/Dr Amount
1 02/11/2010 NEFT(SBINH[protected])Mr VINE CR INR 6,500.00
2 01/11/2010 LBJAL[protected]-LN INST NOV10 DR INR 11,461.00
3 29/10/2010 EBA/NSE N 2010206/[protected] CR INR 3,614.26
4 26/10/2010 EBA/NSE N 2010204/[protected] DR INR 695.10
5 26/10/2010 EBA/BSE N[protected]/[protected] DR INR 31,977.99
6 25/10/2010 INWARD MICR ZONE - 1 DR INR 98,000.00
7 25/10/2010 CASH PAID:SELF DR INR 12,500.00

Regards,
Ashutosh Modi
g93, army flats,
sec 4, mdc, panchkula.
134112.
m: [protected]

[protected]@yahoo.co.in

cell no.[protected]

DEAR SIRS,
INSPITE OF MY REQUESTS TO YOUR CUSTOMER SERVICE AS WELL AS TO YOUR MR.PRAMOD AT YOUR MATUNGA OFFICE I STILL AWAIT MY CHEQUE FOR THE AMOUNT STANDING TO CREDIT OF MY ACCOUNT WITH YOU WHICH IS AROUND RS.27,935.00.

YOUR OFFICE FOR LAST ONE MONTH HAS BEEN REPLYING TO MY TELEPHONE CALLS AS THE CHEQUE HAS BEEN POSTED.

THE DETAILS OF THE ACCOUNT ARE AS BELOW.

Sharekhan Customer ID : 89285
Sharekhan Login Name : vijayg46
Sharekhan DP Client ID : 10958954

YOU ARE REQUESTED TO DO THE NEEDFUL IN THIS MATTER AT EARLIEST.

RS. 2,935/- CREDIT IN MY SHARES TRADING ACCOUNT &
RS.25,000/- CREDIT IN MY COMMODITY ACCOUNT.


Flag this message<AUTO> 'SLTD=[protected]' REFUND OF MY CREDIT BALANCEThursday, 14 October, 2010 9:41 PMFrom: "Team Sharekhan" <[protected]@sharekhan.com>Add sender to ContactsTo: "Vijay Gupta" <[protected]@yahoo.co.in>Dear Vijay Gupta,

Thank you for writing to Myaccount.

This is a system-generated e-mail to acknowledge receipt of your query. The subject line contains the reference number allotted to your case and is being tracked through the same. We request you not to change the subject line in all future correspondences pertaining to this particular case in order to avoid duplication and help us assist you better.

We are committed to provide satisfactory resolutions to the query raised by you within one working day however we would request your kind support and patience in case it takes a longer period to resolve the same due to further detailed investigation.

Assuring you of our best of services at all times.

Regards,
Team Sharekhan

Dear Sir,

I have been raised to claim my PF AMOUNT before six months, still i didnt get my money , now they are saying ask directly Mumbai PFoffice , i have tried several times unfortunately i cant reach them & i enquired in chennai PF office also ,they said it cant rectify by chennai office , kindly do my needful as soon as posssible , my PF number is MH/48935/268

regards
Stanly Vasanthakumar
[protected]

When I opened the Demat and Trading A/c with Sharekhan Ltd., Mr.
Dharmender (Sales Executive of Sharekhan) has informed me the
brokerage rate as 0.25% for delivery and 0.05% for Intra Day trading.
There is no other charges/brokerage.

On 24.06.2010, I have purchased 16000 shares of Cals Refinery @ 0.32.
When contract note came to me, i was shocked to see that brokerage
charged in this purchase was Rs. 1600/- in place of Rs. 12.80 i.e. @
31.25% which is higher than any limit.

When I called customer care service, she told me that they have
charged the brokerage @ Re. 0.10 per share. When I told her the fact
that my brokerage is only 0.25% and not Re. 0.10 per share, she told
me that the brokerage cannot be reversed. Then I called Mr.
Dharmender (sales executive), he told me that my brokerage rate is
0.25% or Re. 0.10 per share whichever is higher, which was never
informed to me. When I asked him, why this rate was not informed to
me, he told that you have not asked for it anytime and moreover, he
told me that if you have any problem then you may close the account.

Then I send e-mail to customer care of Sharekhan Ltd about hiding the
information from the customers and charging of excess brokerage on
shares. In first week of July 2010, I had received a call from the
sales executive who has confirmed that he has hide the fact of
brokerage @ Re. 0.10 per share. Further, in another telephonic
conversation, the persons of sharekhan offered me that they can
reduce my brokerage rate from 0.25% to 0.15% but they cannot refund my
excess brokerage charged.

On July 7, 2010, I received the reply that they have charged the
brokerage as per my KYC norms.

Then various e-mail came from sharekhan to me and from my side to
sharekhan in the month of July 2010 and in first week of August 2010,
I received call from sharekhan blaming me that why you are sending
e-mails to sharekhan. On 5th August 2010 I received an e-mail that as
per talk with their persons my query has been resolved which was not
the fact and I replied about this fact on the same day.

Then on 25th August 2010, they sent me the scan copy of the brokerage
slab agreement in PDF Format in which I found that the brokerage
charged was not written in my handwriting, the handwriting was of Mr.
Dharmender or someone else. Further on the form in date, there was
cutting on the form on which my signatures are not there which proves
that the form was filled up after my signature and without showing
that to me otherwise, i should sign on the cutting on the form.
Moreover, in the initial column, there was not my initial. Thus this
page of the form is not valid. (copy of the form is attached).

The above fact has been informed via e-mail to the Sharekhan Ltd on
26th August 2010 but they are still saying that the brokerage charged
was as per KYC norms.
Sir, my question is
• when on the brokerage form, there is cutting without any signature
then how it is valid.
• Further how a company can charge the brokerage of Rs. 1600/- on the
transaction of Rs. 5,120/- i.e. @ 31.25% which is higher than any
limit.
• Further, why the sales executive hides information at the time of
opening the account.
• And when I am claiming this amount, why this amount should not be
refunded to me.

I request you to take the necessary action for giving justice to me so
that the company does not hide information from customers while
opening the account.
Thanks and Regards

CA. Amit Gupta, FCA, D.I.S.A. (ICAI)
Client Code with sharekhan ltd. W778590
Mobile: [protected]
E-mail: [protected]@gmail.com
ca.[protected]@rediffmail.com

Hi, I am trying to close my sharekhan PMS account for the past one month but there customer service is not responsive and they have stopped responding to my emails.
Does any body have a similar problem and does anybody know if they are a fraud.

In the month of July 2010 Sharekhan Pusa road New Delhi branch traded with manupulated information and without consent in customer's a/c by pledging his majour holdings caused customer occured loss of Rs 1,66,000/- Complain to his HQ from 27th July onwards has no result Concern branch head offering only about 25% componsation that will be recover from concern staff who made this unfair trades but customer has refused as customer has not made trades for which above loss occured .Customer has approached to the SEBI for justice and proper componsation in the matter on dated 9th August I heard from realiable soure that this broker company's staff are in pressure and has been given target to mobilise brokrage not less than what they drawing as salary from this compony.

I have a Demat account with customer ID 1251434 and DP Account(s): 975913 in Sharekhan. Threre is discrepancy in my name and email-id in my portfolio. So my password and other information is going to wrong email id written in my account. I am requesting sharekhan to rectify this problem according to the data I have given to sharekhan at the time of Account opening from last 3 months .I have contacted sharekhan custmercare through email as well as phone. But they are not taking any action to solve this problem and making execuses every time .
I am very much upset, Because my confidential data may go to wrong hands through wrong written email id in my account. It may cause money loss to me.
so please take the necessary action.

Thanking You.
Sukhjinder Singh
email id : sukhjinder.[protected]@gmail.com

Ever since I paid the amount to open the Demat account there has been no response from the agent who collected the cheque, After calling him on cell phone for a week he never picked up nor did he have the courtesy to call back. Once the accont was opened they never showed up to check the status nor did they bother to show a demo. Every time I call them they say if its okay to send an agent on saturdays?? I think people in sharekhan dont know that markets are closed on weekends!! And no matter how many time yopu call the Relation Manager he never has the time to pick up the call or give a call back.
terrible customer service in chennai.

Hi,

I had raised complain to Core centre on ccccore.co.in regarding the behavior of Sharekhan Ltd.
They had not given me the welcome ki after account opening for 3 months.
I have received the welcome kit last month.
I called them several times.
Yet no one is coming to explain all the details.
However they had told they will explain me all things.
I had dealt with Mr. Jatin Kulkarni.
Please take serious action against them & refund me 1000Rs.

Thanks,
Nitin

TDS Money not credit to income tex department
Sir/mam,

I Gulabray Mulchandani, i was working with Sharekhan Ltd. I have not received my TDS return for the year of[protected].
I had filed my return and when i was gone to income tex office they said the tex is not credit in my pan number.
When I had communicated with HR person at sharekhan, No one was given me proper response.

AMT: 2573/-

Kindly look into the matter & do the needful...

Regards,
Gulabray Mulchandani,
[protected].

I am a small trader, trading with Sharekhan Limited with client id 583197. I would like to bring into your notice that Sharekhan has problem with its website and I faced it quiet frequently in last 6 months but on last trading day it made me to suffer a loss.

On 11th Feb 2010 I faced a loss due to their technical snag in their website.

On that day I sold 65 shares of RENUKA SUGAR in NSE which I was holding and was about to square-off the trade at 3:05 pm.

But from 3:05 pm - 3:30 pm I was unable to log into their website and it was giving me error like "Your request cannot be processed now ,please try after some time", and I kept on trying till the end, and finally the market closed and I suffered a loss of around Rs.3700.

I tried to square-off the trade over phone also, but could not reach them and was put on hold for a long time. This is the worst service of Sharekhan and I bet if anyone can get hold of customer care executives during the trading hours and not even on Saturdays also.

I am not a big trader and have not seen the amount of profit in last 6 months of my trading life that I lost on that day.

This was not my fault and the loss I faced was entirely due to the technical failure of their. I wrote number of mails to them after that and got no reply so far.

I would not recommend anyone to go for Sharekhan.

Please trust me, you can have your worst lifetime experience here in just few months.

I withdrawal money Rs. 2000 from sharekhan account via cheque option my requested date is 15/01/2010 but till not received that cheque. I send many times email and phone call but their not give correct response. I am waiting last one month for this amount.

Name: Ramesh R
My client no: 736016

Hi, I am a sharekhan dmat account holder, I have submitted the written document in a sharekhan franchise office for my email id updation 20 days back. But still it didn’t get updated.
The customer care of sharekhan is worst (there is no other worst word can be offered for them). They all are working for only getting new customers but not for surving the old customers. They are very punctual in earning from the charges and penalties but not in the providing services. My account has been locked, I have to generate new membership password which will be emailed to my registered email id. That is my company email id and I am not in that company now. So that’s the reason being I have requested for email id updation and tasting rediculous customer support. I have contacted customer care via phone and email. I have called them atleast for 5 times (reaching them is a nightmare) then you will listen some crap stories. System is not working or technical updating is going on or it will take 5 more working days from now. And emailed them 10 times no response from them.
And in these last 30 days time market is showing ups and downs they hold my hands from doing the trading.


Best Regards,
Arun Kumar,

On Thu, Oct 15, 2009 at 6:45 PM, Mala Chatterjee <[protected]@gmail.com> wrote:

On Thu, Oct 15, 2009 at 6:44 PM, Mala Chatterjee <[protected]@gmail.com> wrote:

Dear Sir / Mam,
In response to your mail I would like to let you know that CLIENT CODE : W473390/325.

Previously I had 200 JP Hydro and Reliance Power 10 thereafter I paid Rs.15000 to buy shares but till date neither I had received any information from your end nor from your dalhousie Branch(Clive Row)
Regards
Mala Chatterjee




On Wed, Oct 14, 2009 at 6:47 PM, Team Sharekhan <[protected]@sharekhan.com> wrote:



Dear Ms.Chatterjee,

Thank you for writing in.

With reference to your mail, we request you to revert to us with any of your online trading details i.e. Customer Id, Client Id or login Id so that we shall be in a better position to trace and assist you accordingly.


Kindly feel free to revert in case of any further clarifications.

Assuring you of our best services at all times and looking forward to a long and pleasant association.

Regards,
Team Sharekhan
www.sharekhan.com
On Fri, Dec 25, 2009 at 11:35 PM, Mala Chatterjee <[protected]@gmail.com> wrote:

Dear Sir / Mam,

I'm really astonished that without solving the problem how your Branch Manager could tell to stop the account.IS IT YOUR CUSTOMER CARE Or CUSTOMER NON CARE DEPT. I think your Branch Manager has not the eligibility to take care of the customer .He may be a good performer in your company but not at all eligible to provide the service to the customers .He didn't even talk in PROPER MANNER . Being a customer I am not bound to hear his audacity over phone.
A person when he is in chair if he commits anything Company can not deny / avoid their responsibility.

AWAITING YOUR CORDIAL ASSISTANCE.
Regards
Mala Chatterjee



On Mon, Dec 21, 2009 at 1:48 PM, Team Sharekhan <[protected]@sharekhan.com> wrote:



Dear Mr.Chatterjee,


At the outset we regret for the inconvenience caused, due to delay in replying to your mail.

As per your telephonic conversation with Branch head we trust that your concern has been taken care off.

Further like to inform that you may call the Dial N Trade department in order to get your orders placed. All you have to do is call our numbers #[protected] or #[protected] or #[protected] and use your phone id and T-pin to get connected to them. Our executives shall attend your calls and get your orders placed. You may also call the Dial N Trade department for any research related advice or market information and they will assist you accordingly.

Kindly feel free to revert in case of any further clarifications.

Assuring you of our best services at all times and looking forward to a long and pleasant association.

Regards,
Team Sharekhan
www.sharekhan.com
Dear Sir,

This has reference to my previous mail dated 15.10.2009. I would like to request your goodselves to let me know immediately the latest position of my account and the Rs.15000 against which I requested to buy L&T while it was around Rs.600-700 per share after splitting and some BHEL to your BM Mr.Bappa but till date I am not informed at all.
Regards
Mala Chatterjee
----- Original Message ----
From: "[protected]@branch.sharekhan.com" <[protected]@branch.sharekhan.com>
To: [protected]@yahoo.com
Sent: Thursday, February 28, 2008 5:49:26 PM
Subject: DP details of mala chatterjee
sir,
as per your query this is to inform you that the the initial investment amount Rs.50000/- which was deposited in your wife's a/c is invested as follows -
01.01.08 buy JP Hydro Qut = 200 Rs.27577.20
15.01.08 IPO RPower Rs.19350.00
18.02.08 buy RPower Qut = 10 Rs.3668.25
Think it will help you understand where the money is invested.The chq you received is the amount applied in Rpower. rest of the amount is invested in JP Hydro & RPower.
regards,
shambo basu

Dear Sir/ Madam,

I am having account at Maninagar, Ahmedabad Branch of Sharekhan and doing day trading.
My Relationship manager at branch always gives me wrong msgs and I lost 40k + amt in commodity trading.
Twice a time after I got stuck in trade suggested by my Rm, he refuses to get responsibility and get me out of that trade with lesser loss.

Sharekhan is having bogus & poor knowledgeable staff don't trade in Sharekhan.

Bhavesh

Sharekhan is cheating customers. It has made the cash withdrawal facility unavailable under the pretense of maintenance when I have few lakhs to be withdrawn from them. Will they reimburse the daily interest on the amount lying with them? They have not even put a time frame as to when the facility will be up? 2 hours , 4hours or what?? Absolutely a way to cheat customers. Never go to them. This is not the first time.

Hi,

Kindly note that 1 year ago 1 executive from Sharekhan Limited Mumbai called me up and told me that there would be lifetime AMC free demat acount provided to you, now they have charged 110 rs for 3 Months for demat account, when I e-mailed them for complaint and closer for account, they informed me that there will be AMCCharge for each and every customer.

Also I didnot signed Schedule of Charges at time of opening Demat account. However when I told Sharekhan through e-mail about the same, they send me Signed Schedule of Charges, where signature was differing. Also when i sent them closure request through courier, they did not respond. However when I write them through e-mail, they respond that Closure request was rejected becoz of Sign differ.

pls suggest what should I do.niether they ready to close my demat as well as trading account nor they are revering/waiving incorrect charges.

I didn't use 1 transation from that demat account.

Regards,
Rajesh Dangwani

I have not received any agreement or guidelines about Demat services provided by Sharekhan Company. And I told them to not give me margin service but they have given that, because of that I bought Shares more than I invested. And now they are asking me to pay for that. What should I do about this.

Dear Sir/Madam,

On 22nd Dec, Mr Swapnil Rawool from Smart Point company ( Business Partner of Sharekhan) takes 2 cheque each of Rs.15000/- for investing in mutual fund. I got the receipt of the same on same date. I told him to invest Rs.15000/ in BNP Sundaram "Growth fund" and Rs.15000/ in " Dividend fund". Due to our monthly target pressure I forget to contact him for next 4-5 days. After that when I checked my mail, I haven't receive any confirmation from the company.So I tried to call him, but he didn't pickup my phone. 2 days later he called me and told me that from 1st Jan 10 there is no entry load on any mutual funds and so we are now investing your money.

On 13th Jan I received one mail from Camsonline stating that "your request for investment in Growth Fund is processed and confirmation mail you will get very soon". But on 15th Rs.30000/- deducted from my account. So I tried to call Mr.Swapnil Rawool and as usual he didn't pickup the calls. Till date neither he picked up calls nor revert back on any thing.

So, I send the complaint mail to Sharekhan and gave all the details to them. Now they are also not doing anything about it.

I think I am being cheated by Mr.Swapnil Rawool and he takes away my Hard earned money. And since he is Business partner of Sharekhan, Sharekhan is equally resposible in this by not taking any action on him.

Kindly do the needful

I joined as a franchisee - Manohar Krishnan Nair (code no 1559) kharghar, with SHAREKHAN LTD in Aug 2008 & paid Rs. 1lac as franchisee deposit by cheque.

On 22.12.2009 i had only inquired about the procedure to discontinue my franchisee
and refund of my deposit.

On 30.12.2009 they were very prompt to terminate my franchisee, although I agreed to their hasty decision by signing the documents on 04.01.2010 they are finding excuses to refund my deposit and also the Dec 2009 brokerage sharing is not released.

One of the executive named geetanjali from sharekhan ltd has demanded confirmation letter from all my 57 clients. This is an impossible target to be met and it was not specified at the time of joining and now these 57 clients are mapped under sharekhan"s VASHI branch.
Please advice.