India Infoline Finance [IIFL] Complaints & Reviews

Dear Sir/All

I had opened a demat account in india infoline four years ago, a agent came to me with low brockarge charging company...

I started putting my hard earned money into demat account to have decent profits, during few months span....

Initially they had given me very nominal profit but at the same time, given me some margin options
and in background they started sucking my money, I felt very bad of them because such a big company can even do this to me...

when i complained how did u erode my money, lumsum amount around a lac.. they have send me a profit/loss summery....

and shows the transactions ...they buy at higher rate and sell at lower rate using margin option ....
they give high margin options ...when there is an increase in sensex no increase in my fund...at the same time when there is decrease in sensex , much decrese in my fund (more than expected)

this way they almost finised my hard earned money...

I just wanted to tell people never open an account in india infoline ..........untill u have very close source


BR,
Tarique

To Resp Sir/Medam,
I m Prabhu B Patil permanent resident of sindagi karnataka temporarily resident of old rajinder nagar new delhi,I m praparing for upsc civil services being student i saved 30000 rupees in one year and made new demat account at india infoline in A-154-D,Sector-63,Noida(UP)-201301 under responsibility of Alpana Kumari Sundriyal & Harish,Due to exam preparations i was not able to do trading myself so i told Miss.Alpana to trade on my behalf in safer way on short time holding without taking risk but unfortunately she traded on my behalf herself in a very risky manner,volatility,silly,without responsibilty,commiting civil crime in economic activities by wasting money without reason even knowing market status and doing intraday trading riskily and making to loose the hard earned money of a poor student by inappropriate activities in business leading to loose faith of the clients on the company INDIA Infoline and the Governament of INDIA(coz it will be always late to give decisions for the right to give justice).

Sir/Medam when you see the contract notes of the company and also the earlier day's market report or status some companies even their CMP jumped to higher values they sold it for very very low margins as if we may feel that company is trieng to grab the money of all by these funny(i can say) transactions of making a trade of even 50 or 25 paise's which if far less than brokerage charges in some cases,If a real govt or ideal or expert market analyser studies the report then he will come to know that what was going wrong in the day to day business execution by the company staff,are they trieng you to help the clients for better business or only bothering of the brokerage charges whatever the clients go to hell may be the feeling of the company or principle also,
Sir/Medam i dont need money in return of JUSTICE but we citizens of INDIA ask you to get only justice in that manner that no other citizen in INDIA must suffer from these trading fraud businesses and cheating transactions which could harm there hard earned money which in case may lead to suicide case incident also then only i think so that govt will take action until no one will be a victim being educated even this pety incident is forcing me to go for suicide but i am trieng to face it bravely until i can try to survive for my fullest but i dont know of the world can survive in these some circumstances but it is quite tough for me but just doing our best for other things makes us to survive,We assure you that if you reply to my mail and send the link or email address i will attach all the contract notes and some other details which i can try my level best to send you may get you some good impression or business of the company's status ,

I request you to get any sort of justice i am not eager or interested in money but i like to say that the same thing must not happen with others,This can be done by reforms in corporate affairs until it gets fully absolute & also in PSU/PSE's,

THANKING YOU Sincerely
PRABHU B PATIL

Hi,
some have to monitor the functining of such Organization.
I have raised the request for the change of Bank from CITI to HDFC(Payout).I submitted the documents nearly 5-6 times and they kept on promising the work will be done.Now after 6 month after still nathing has been done......

Plz some one halp me out ...
these people should be punished for their careless respose....
end suffers are the customers .....


Thanks
Ajey G madgaonkar
[protected]

sir my name is ASHOK OMJI PUROHIT i have account in india infoline which is in vasai road west.my id is ashok586 and my rm is manjeetsingh .i have sold kpit infos on monday 26/10/2009
and as per rule i should get my amount in cheq on third day which is must be on thursday but till i didnt get and when we say this isssue to maneger of that branch he say i cant do in this any thing u have to wait some times it take month to come sir i want an help from u the maneger name is santosh .



ashok purohit [protected]
vasai road west

Respected sirs,
on dated,[protected],around 3:25 p.m., my brother rakesh kumar, on behalf of me, phoned to india infoline's branch office( mr.vikas) situated at pilibhit to buy 6500 shares of crains software at c.m.p.around rs.37.90/38 but after purchasing 6500 shares, mr.vikas told to my brother that he bought the shares around rs.264, my brother got surprised at his saying & atonce rebuked him about his dealing & then the fact found that mr.vikas mistakenly bought 6500 shares of CAIRN INDIA instead of CRANES SOFTWARE,then mr.vikas at once sold out cairn india's 6500 shares at lower rates which caused a total loss of about 7800 rupees in my account pravee 82, then he bought 6500 shares of cranes software.
so, i request you to make proper adjustments to save me from this loss of rs.7800 caused by irresponsible behaviour of a employee at your branch pilibhit.we have also talked over this matter with the branch manager mr. ravi jee but no satisfactory response is received so far.
So, hoping for a favourable reply from you.

Dear sir
despite several request for password no action has been taken by the company .I am looking forward for the same.Kindly arrange to provide my password as early as possible. My id is SHIV5588.

Dear Concerned member

Ref : Login id: SHDEEPA8
BRANCH: DVG ROAD

This is to bring to your kind attention that one of your sub broker naming Mr. Bhuvan from DVG Road branch in bangalore city had opened a demat and trading account with indiainfoline since a year ago, as i not in station for more than two months, Mr. Bhuvan has misused my trading account and had been trading without my knowledge by creating a new password and has put my money into negative, after going through my transaction details i have come to know that he has made a loss of over Rs. 11000/-
Now Mr. Bhuvan has been absconding and all his contact number has been disconnected, i would take this issue to the highest level and would like lodge a legal complaint again Mr. Bhuvan and i request the comapny to kindly co-operate on the issue.

the transaction has been done from 22nd september 2009 without my knowledge, i request you to kindly response to my mail at the earliest and take action on the same.


THANKS AND REGARDS
SH DEEPAK

Hi,

I was a customer of India Infoline Ltd. with trading login id 'ABHIRUP8'. Though its a huge company, the service provided by it's executives, is terrible. From the past two and a half months I applied for the closure of my account, which they say, has been closed, but the pending amount has not been transfered to me yet, nor there has been any kind of communication from there side. I am still waiting for there 12-15 working days to get over, for the account closing procedure.

Further, I asked for a statement for the duration I traded in the company, which was promised to be sent within 2 days. Its been a week and I am still waiting.

I call them nearly every day, and in return I get only one statement 'Sir, aaj kaal main apko check pahuch jaega. Woh 7 tarik ko dispatch ho chuka hai.'

Further I tried to file a compliant in there website. From the past two weeks when ever I try to use there facility I get an error message
"We are sorry, You have stumbled upon a temporary problem we are having with indiainfoline.com site.Usually this problem gets resolved quickly, without you doing anything.The fact that you're reading this page means we've been automatically notified of the issue, and chances are we're working on it now. Thanks,India Infoline Services Team. "

So as a last option I thought about filing a compliant with this website and let people know about the great India Infoline Ltd.

resp sir,

I have applied PF form last 1.5 year , but till date i not found my PF manoey,

my PF no. is MH/44546/6241.

please do the need full as soon as possible

my address,

mohd kalim khan c/o khalifa bhai,
panchayat market, indira nagar , silvasa -396 230.
U.T. OF DADRA NAGAR HAVELI
mobile no. [protected]

To,

The Director

Indiainfoline ltd

Goregaon E Mumbai.


Sub- Non Payment of Salary

Dear, Sir

I want to drow your attention as under that I was appointed in your organization usual traning and test ect.

I got an offer letter on dated 21st April 2009. and I joined the Andheri Sakinaka Branch on dated 22/4/09.
In this letter and before of this Invitation letter dated 15/4/09 no where mentioned that I will not be paid full salary if I will not be achieved your decided target.
It was very much painful that I have to suffer to much on getting half salary in the month of June 2009.
I worked daily about 12 to 14 hours including office hours to open Demat account and sale of mutual fund and Insurance.
It was told me Mr Nishant Mittal at the time of interview from 2nd month onwards I have to open 5 account and 1 times brokerage’s I have login 5 account brokerage 14000 +3 mutual fund 1 icici insurance policy on second month inspite of these effort I was not getting full salary, therefore the decision of cut 50% salary was not justified. Kindly look into the matter sympathacally than you will find that my superior Mr,Nishant Mittal gave the decision prejudicial to cut my 50% salary.
I always tried my best services with hard labor and honesty you are kindly requested give my salary at the earliest,
Please reply within 7 days and oblige.


Thanking you

Your faithfully

Mohammed Yasir riaz (Emp id C 67521)

Dear sir,
This is to bring to your kind notice that, I the undersigned, is very much dissatisfied by the service provided by one of the customer Relationship Managers called Nirma Jain of India Infoline Office of Shakespeare Sarani Branch, Kolkata, who happens to stay in my locality. I had heard about the company through many sources and advertisements and so I had opened an account with them through Nirma. But, unfortunately, she failed to cater to my needs. In fact her misbehavior alone forced me to sell all my stocks recently. She did not receive my calls deliberately, and my stock buying and selling completely depended on her wishes as I had no other way to intimidate with her. Finally when I wanted her to load the company’s software on my home PC so that I can carry out the buying and selling of stocks myself, she repeatedly failed to attend me after making appointments. Further when I sent one of my friends called Snehashis Pal to the office for opening an account, she delayed the accounts for two months because one of the so called employee who could open the account was on leave and finally the account was not opened at all and made my friend visit the office to take back his documents. I, although still hold my account, have no wishes to continue it in the near future if the house provides me with such customer services.
I would be very much grateful to you if you please look into the matter immediately and take all the necessary actions against NIrma Jain as well as India Infoline as soon as possible Thanking you.
Yours faithfully,
Soumendu Chatterjee
Login Id : JOYYBHAI
Client Id : 12594488
NSDL DP ID : IN302269

Hi all,

I read lots of complaints from clients of India Infoline. India info line is not only cheating clients but also the employees. There are lots of complaints that shares has been sold without the clients knowledge. The reason why they are selling without your knowledge is the employees are not given salary unless and otherwise they show 3 -4 times of their salary as brokerage. Frustated employees are doing some trading without the knowledge of the clients and leaving the company inorder to put the company in trouble.

The usual thing happening in IIL is they will recruit somebody in the middle of a month. they will give salary for half the month. From next month no salary will be given, which the emplyees begin to realise only in the third month. They will say it will come after 10th, 15th, 18th and the next month will come and no salary will be given. By this time, they will catch some clients and make them do some trading. If reason is been asked for not giving salary, they will simply say you have not met the target of brokerage as well as getting clients. the frustated employees will leave the company without any salary having worked for 3-4 months and this will continue. they are not bothered about people leaving the company as their clients count is increasing without spending any money
Some severe action should be taken against IIL for cheating emplyoees also.

I kindly request nobody to join the India Infoline. You will ultimately come out of it in few months fully frustrated.

Dear Sir
Hope you doing fine.

My name is Varun Mahajan and I am from Amritsar, Punjab. I worked in this Company named India Infoline Ltd in Amritsar ( Lawrence Road) Branch. I worked in this company for approximately 3 months. MAX NEW YORK LIFE INSURANCE is our corporate agent or something and We had to sell their Insurance Policies by forming teams of people working under us on salary basis i.e. all the teams members as well as the employee at my level were on the reolls of the company.

To name some Problems I faced over there, I ve listed some Below:

1. For your Information as well as the for the Information of the Public, this is a Sick Place to work in. I got a job with this company through a known at a good position in this company itself. At the time of Appointment I was told that the job is not Target Oriented and the Employees who are working at my Designation or Level, they recieve their Salaries without any Hassels. I didnot recieve my Full salary. My monthly salary was around Rs 20,000 per month and I just recieved Rs 5,000 only. This problem continues with all the employees who are in the Insurance Department of India Infoline Ltd and this problems still continues.

2. Most of the Insurance Policies logged in this company are logged in with TAMPERED DOCUMENTS / IDENTITY PROOFS. This company doesnot have words called ETHICS and MORAL in their Work Culture. Document are Editted and Re- Editted for the Personal Benefits. Customer is duped every now and then.

3. Sometime back, as in 5 to 6 days, We were told that India Infoline has closed their Insurance Business of Max New York Life Insurance and all the Employees of Amritsar Branch were sacked within a day without any prior notice. I was given another cheque of Rs 8686,that means I just got a salary of Rs 5,000 + Rs 8686 whereas I was suppose to recieve a salary of Rs 20,000 * 3 = 60,000.
When we told the HR about our problem, Ms Chitra as well as Mr Baljeet and Mr Atul to name some HR people, told us that the company has very clearly mentioned in the Appointment Letter that the company can sack anybody anytime without any notice.

There are many other Problems going on but I ve named some of them above.
Public and The Respectable Authorities Please look into the matter of Customer landing into the Problem due to some or the other Problem.

Friends please beware before you start up ur career in this company. I guarantee you that this is a place where you dont want to get started.

Yours Faithfully
Varun Mahajan

hi,

my father have an account in indiainfoline which is DP ID` 12044700 client id is 01714061 . Few days infoline mistakenly credit around 2lakh in this account . But day before yeatserday they debited 2.17 lakh from rhis account wothout any information . Now today they also sell out 60 share od dlf @427 without any information givento us .IDeally they have to debit 2.00lakh only from this account but they have not done according the policy . IF THIS IS THE FAULT OF INFOLINE PEOPLE SO WHY WILL I SUFFER BECAUSE OF THIS .

so request you to please look in to this and do the needful ASAP so that we can regain our profit money from infoline.


WORST SERVICE EVER RECEIVED FROM ANY PRABHAT PLAYER IN THIS MARKET.


LOOKING FOR A POSITIVE RESPONSE FROM YOUR SIDE ASAP .

COPY OF THIS COMPLAINT HAS ALSO FROWARDED TO THE DIRECTOR OF INFOLINE FOR NEEDFUL ACTON.


DETAIL AS BELOW.

DP ID` 12044700 client id is 01714061 .

cONTACT NO . [protected] / [protected]

I am holding an trading account in IndiaInfoline. I did have balance in my account for trading. But as i had no time for trading , I left the account for a long time without doing any trading. Using this as an advantage, the people at India Infoline, called me and they canvassed me that they could do the trading on my behalf and earn profit for me. Though I got profit (only in pennies) for two or three days, I started getting huge losses continuously after that (due to their random choosing of stocks and playing with my account). then I told them to stop trading in my account. after somedays they told that I had to pay Rs 5500 on the same day as the account was in debit or they will sell the stocks in my account randomly without asking me. As I was unable to pay that on the same day, they sold some stocks randomly which were in losses without asking me.
after somedays again they started asking me that they will do the trade again in my account and will make profit for me. When they canvassed me, I agreed and atlast they made a loss of Rs. 8000 in my trade account on single day by doing trade themself. Though I urged them a lot to buy stocks in minimum caps and sell it for minimum profit/loss, but they burgled my account. they made a heavy loss for me.

I had submitted PF form on 5th January 2009 in India Infoline but still India Infoline had not submitted PF form in office which is pending from last 9 Months. India Infoline had not given PF amount to many employees from long time so Kindly give me suggestion for fight with Company. Kindly find following details for the same.

Name : Hiral Darshanbhai Zaveri
Conatct No. - [protected]
PF Account No. - MH/44546/5327 & MH/93462/1883
Company Name - India Infoline Limited - Mumbai
Employee Code - C 9494

I am ALKA GUPTA FROM NEW DELHI AND HAVING AN D MAT ACCOUNT WITH INDIA INFOLINE., JANAK PURI.

This is to bring toy our kind notice that I have been charged Rs 555 as Life time free Scheme in my account. . But the problem is that the charges have been levied not once but twice. My ACCOUNT ID ALKAGUP8. AND ALSO ADDITIONAL CHARGE of Rs 292.30 .

Also please provide an id of a Senior Person to whom I can complaint regarding the behavior of the Janak Puri India infoline Branch Manager - Mr Manit for his non acceptable and self profit making intentions.

When I had opened this account of mine with Janak Puri, New Delhi branch almost 1.5years back through Mr. Namit, we had agreed for charges of 0.2 % for delivery and 2 paisa for intra day (please check this from initial transactions in this account) . But Now I realised that the charges on my account have been increased to 0.5% and 5 paisa on intra day without informing me and without my knowledge. I have brought this to the notice of Branch Manager Mr Manit thrice but every time he has promised to do but has always failed to do so inspite of three reminders. This clearly suggests that he has malafied intentions and is nothing less than cheating the customer.

Also though my account was opened in Janak Puri branch and was mapped to relationship Mnager in Janak Puri, Mr Manit has of his own mapped my accoun to Ms, Rachita in Vikas Puri Branch who happens to be his wife and is also an employee of India Infoline, This man is indirectly passing the business under her for his own and her's wife's benefit. . It is clearly evident from his act that the same has been done for his personal profit and target motives and both of them have malified intentions.

I would like SEBI Tto look ito the same so that such compnaies and their people canot exercise their whims and fancies and have some fear of SEBI.

Regards
ALKA GUPTA
[protected]

I have a trading account and demat account with india infoline limited at jamnagar branch. My ID is HACHIRAG, I have changed my mobile number and given details to the jamnagar branch for updation. My old number was [protected] and my new number is [protected]. I have given every details for the updation twice since two months at the jamnagar branch to its manager Ravi Saparia, but still they have not updated it. Because of it i can not get online account password as it is send by the company only at mobile. I have visited the branch 15-20 times for the matter and they are telling me that it is under pocess. And when today i told them to show me what process they have done for my complain, the manager Mr. Ravi Saparia told me they can not show me any things as it is not in their policy and when i told him to give it in written he refussed me and told he will contact me only when he will get the number updated. I asked for the approximate time and he told me he refused to tell anything.

So sir please look at my complain and give me suggestions as the manager of jamnagar branch is not cooperating so that i can get my online password as early as possible .

Branch manager of india infoline pvt ltd, hazaribag, jharkhand frauded me of rs, 40000/- by trading in f&o without my knowledge or consent.they have since closed their office at hazaribag since this was done with 4 or5 more india infoline customers along with me.this can be easily checked.pl help me in recovering my money.

Dear Sir
I am Rahul Gupta From Badaun UPW, i am Joined the Indiainfoline Ltd. Remisership in District Budaun and Mr. Adil, Ashit Jian (B.M.) told me you are working indiainfoline ltd. company give you 500 Rs. per account and 25 % Commision so sir i am joined the indiainfoline ltd. but my equity payout very dely and my commodities payout not send me and give us many more paper submitted but my payout not given me.
and sir my commodities client not maped my remiser code.
plz help me and confirm me this matter.