India Infoline Ltd - Against India infoline ltd
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Complaint by: mohit agrawal on January 14, 2011, 5:37 pm in Banking and Finance

Dear sir,
I have deposited a cheque no. 73150 of 15000/-INR to india infoline on 24nov 2010, from my axis bank account no 3********184243. that amount withdraw from my axis bank account on the same day but india infoline not deposite that amount to my infoline account till yet.

Attach file open password - MOHI3********

Complainant's Goal: I want my money 15000/-INR to my infoline account.
Complainant's Target: India Infoline Ltd
Complaint Location: IndiaHaryanaGurgaon
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Recent Comments
Mon, 21 Mar 2011  Bharat Patel

Dear Sir,

My account id is BM210286. i am my ladger balance was deducted for no reason and no one (even my RM) has any idea how it happened. my cash balance was around 7725 Rs. on 15th of march 2011. that day my net profit was 1400 for which i was sent my dayily bill in email confermation. but it was shocking for me that the next day my ledger balance was -5560 Rs. i asked my RM to give me reason for that deduction but he could not find anything. i also got one email that on 16th i bought 300 nifty 31 future and sold 350 nifty 31 future. and booked loss of Rs 7410.50 i have not made this tread. can you please explain me my deduction before i go to consumer courte and file a complaign against you.

Thu, 24 Feb 2011  Dharam Malik

Dear Sir/Madam
We are from “Law Masters Consulting Pvt. Ltd.”, A company which is managed and run by professionals those has vast and rich knowledge as well as experience relating to “Capital Market”.
We deal in Capital Market Legal and compliance matters and advice our clients on various disputes emanate in Capital Market due to misconducts. We have nationwide network and work in different constituencies to serve our clients throughout India.
We have gone through your matter which has been posted by you at different forum. It is fact that 7 out of 10 clients are being cheated by some miscreant in the market and client due to lack of knowledge never take up his matter diligently through appropriate channel. Client suffer losses due to various misconducts in the market, that includes
1. Unauthorized Trading in client account.
2. Trading just to earn excessive commission and brokerage.
3. Trading in any particulars segments of capital market, in which the client has not sign the agreement.
4. Guarantee against the losses and assured return
5. Breach of Code of Conduct and good business practices which is ordered by Stock-Exchanges.
6. Any others types of discrepancies by the brokers or sub –brokers.
7. Miss appropriations of shares and other securities
You may contact us for free counseling and discuss your matter with our expert on the panel.
Thanking You.
With Regards
Team Law Masters
Mobile 0********16
Ph: 011- 22754594
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Tue, 15 Feb 2011  myngone

Dear all concern,when director of IIFL is arrested in fraud case why the other authority will not do they are withholding the hard moey salary of employyes.

please observe the report

India infoline director arrested for fraud
By: Vinod Kumar Menon and Prawesh Lama Date: 2009-07-17 Place: Delhi

Cops arrest top executive after MiD DAY highlighted several complaints of unauthorised transactions

"I never realised how dangerous it was to keep surplus funds in the broker's account," said Aarti Gunjikar (43) a housewife from Khar, who was allegedly duped by broking firm India Infoline to the tune of Rs 13 lakh.

On Wednesday, the Bandra police arrested Rajamani Venkatraman (42) co-promoter and executive director of India Infoline on charges of cheating and conspiracy. This is the third arrest in the case.

Gunjikar in her complaint had accused the company officials of allegedly conducting unauthorised trading in her demat account.

Interestingly, soon after Venkatraman was arrested, the company officials amicably settled the issue by giving her a demand draft of Rs 18 lakh (her sum of Rs 13 lakh and interest of Rs 5 lakh).

Gunjikar said, "My case is an example of rampant misuse of loopholes of the security market. Inspite of my written instructions to purchase blue chip shares on market correction, the surplus funds I had deposited in our (Gunjikar and her husband) demat account to purchase shares were misused without our knowledge to trade to the extent of Rs 59 crore just to generate brokerage (Rs 2.66 lakh) for the company.

Modus operandi

Elated: Dr Navneet Rastogi (right) with his father Babulal Rastogi who had accused India Infoline of trading in his demat account without his permission, welcomed the action against the firm, at their residence at Palam Colony, New Delhi file photo

According to Gunjikar, the modus operandi is simple. The firm pressurises the relationship manager to generate brokerage four times their salary or they will be sacked.

The company gets away with the crime as in most cases instructions given by investors are oral, and thus difficult to prove before a judicial forum.

She said, the article in MiD DAY (June 1), titled 'In the line of fire', had helped her to come across many victims, who were duped by the broking firm.

Dr Navneet Rastogi, a victim from Delhi, was happy with the arrest. "Not only me, India Infoline has carried out unauthorised transactions without the knowledge of many clients. The company officials do not even respond when we call to complain," said Rastogi.

India Infoline, in its statement, said that the allegations made against its executive director, are baseless, false and on frivolous grounds with intent to extort money.

Senior Inspector Prakash George said, "We have registered the offence against all the people named in the complaint under section 409, 420, 506 and 120 (b) of IPC and that the case was being probed from all angles."

Tue, 15 Feb 2011  MYNGONE

let us see the pf case

India Infoline Ltd Complaints and Reviews
Provident Fund Not Received – Applied On Before 7 Months


Dear Sir/Madam,
Good Morning. I am one of the X- employee of the India Infoline Ltd company in the name of Mahalakshmi.B. Last 26th June month 2009, as per our Trichy back officer Mrs.Remamani advised, I has sent my Provident Fund application through Speed post (registered) to your Mumbai – Nirlon complex address. Once again send reminder letter on 25.10.09. But still I am not received any intimation from India Infoline Ltd company, Please note my employee details are given below.

Employer Name: India Infoline Ltd
Employee Name : B. Mahalakshmi
Employee Code : C26753
Region : Tamilnadu
Branch : Trichy-Chitra Complex & Salai Road
PF NO : MH/44546/3796
Territory Manager : Mr.Muthukrishnan
Department : Tele Caller – Insurance & Mutual Fund
D.O.J – 10.11.2006
D.O.R – 09.07.2008

Still I have cheeked the PF website. Still the status is Your Application not Received. Please help me how can I receive my amount?

Waiting for your reply.
Thanks and Regards

Tue, 15 Feb 2011  myngone team

dear all concern,
this had happened to so many employees of IIFL.

Wed, 19 Jan 2011 - Business Reply from - indiainfoline (India Infoline Ltd)

Dear Mohit,
This has reference to your observations. In order to help us address the same, kindly provide us complete details (such as Login ID in connection with this issue . Please quote the same in your email. Upon receipt of the mail, our customer service team will be able to work on resolving the same.
IIFL Customer Care

Fri, 14 Jan 2011  Message from Helpdesk

An email communication has been sent to India Infoline Ltd on January 14, 2011, 5:37 pm