When I visited IndiaBulls Securities Ltd office at Gurgon , the RM (Sushama Devi) while disclosing all terms and conditions,procedures and charges related to my account told that brokerage percentage at Intraday at NSE will be 2 paise and 20 paise of the the transaction amount. After a couple of weeks of trading with them I noticed in the Electronic Contract Notes that they were charging the brokerage at the rate of 4.5 paise. The very next day I brought this issue to my RM\'s notice and she was equally surprised to know. She told me that for equities below RS 100 the brokrage is 4.5 paise but when I suggest that she never told me about it she pretend ignorance and she said can\'t help and when I requested her to talk to she said nothing will happen talking to seniors and latter her another collegue (Ashish) called me that nothing will happen talking to seniors because only junior can help you. I wondered if I was talking to people at a private company or any govt. office people.
Latter while talking to the Branch manager ,Anshu,promised that he will re-imburse the excess brokrage charged and promised that this will never happen again but till date I have not received the re-immbursement nor any comments from Anshu or any other person
To make the thing worst I purchased 40 TCS on margin and paid the money with checque worth 35,000/- but the RM (Sushma) start giving me excuse that money was not transfered by bank and it cann\'t be cleared because there were some RBI audit in banks and when I confirmed with ICICI bank they said we are clearing every transaction and have not stopped working and didn\'t recieved your checque, so can\'t clear it. I have to pay interest on the above transactions every day basis and already they have charged heavily
This highlights the inefficiency in regard to disclosure of vital information at IndiaBulls and customer harassment after opening an account with them.With my bitter experience I am sure to give a poor rating to IndiaBulls Securities Ltd.and would never ever recommend them to any one.
I look forward for an urgent and appropriate action against IndiaBulls so that next time onwards they are loud and clear in telling their correct charges before opening the account. Hope the authorities would take note of my request.
I am writing to alert your corporate office to active, severe regulatory non-compliance being covered up by local branch management. My assigned Relationship Manager and the local Zonal Head have actively declined my grievances regarding heavy financial losses caused entirely by your firm's internal violations.
My account has been run as an unlicensed "shadow portfolio" controlled via WhatsApp. Every single trade executed in my account identically mirrors specific, real-time buy and sell triggers provided directly by my RM on WhatsApp, a clear violation of SEBI (Investment Advisers) Regulations.
Instead of investigating this systemic mis-selling, the RM is now aggressively pushing me to deposit an additional ?10,00,000 (Ten Lakhs INR) into my trading account under the fraudulent claim of "loss recovery." This predatory "double-down" tactic is a severe breach of SEBI’s Intermediary Code of Conduct and borders on financial extortion.
After 3 months also nobody in indiabulls helping me out.
Infact they are making fun of me .
I am writing this so that someone can listen to me.
They had ruined my last 3 months in pretext of recovering now they had blocked my number and restricted entry to office .
Rm name chandrabhushan roy
His boss name Deepak singh
They told indiabulls is a dacoit nobody can even touch them.
Afzal khan
263964
********27
An email communication has been sent to IndiaBulls Securities Ltd on July 22, 2010, 10:39 am
I am writing to alert your corporate office to active, severe regulatory non-compliance being covered up by local branch management. My assigned Relationship Manager and the local Zonal Head have actively declined my grievances regarding heavy financial losses caused entirely by your firm's internal violations.
My account has been run as an unlicensed "shadow portfolio" controlled via WhatsApp. Every single trade executed in my account identically mirrors specific, real-time buy and sell triggers provided directly by my RM on WhatsApp, a clear violation of SEBI (Investment Advisers) Regulations.
Instead of investigating this systemic mis-selling, the RM is now aggressively pushing me to deposit an additional ?10,00,000 (Ten Lakhs INR) into my trading account under the fraudulent claim of "loss recovery." This predatory "double-down" tactic is a severe breach of SEBI’s Intermediary Code of Conduct and borders on financial extortion.
After 3 months also nobody in indiabulls helping me out.
Infact they are making fun of me .
I am writing this so that someone can listen to me.
They had ruined my last 3 months in pretext of recovering now they had blocked my number and restricted entry to office .
Rm name chandrabhushan roy
His boss name Deepak singh
They told indiabulls is a dacoit nobody can even touch them.
Afzal khan
263964
********27