India Infoline Finance [IIFL] Complaints & Reviews

DEAR SIR,

NAME-M.B.RAJASEKAR

CODE-C8481.

PF NO-MH/44546/6488.

COURIER NO[protected].

COURIER NAME-PROFESSIONAL.

DATE[protected].


I AM EMPLOYEE OF INDIA INFOLINE LTD,NOW I WANT TO KNOW MY PF STATUS.I HAVE SENT PF CLAIM FORM AT[protected].THROUGH PROFESSIONAL COURIER AND POD NO[protected].MH/44546/6488. STILL I AM NOT RECEIVE ANY MASSAGES FROM HEAD OFFICE,WHEN I WILL GET THE PF SETTLEMENT.PLEASE HELP ME OUT IN THIS REGARDS,PLEASE DO THE NEEDFULL AS SOON AS POSSIBLE.

REGARDS,
M.B.RAJASEKAR.
C8481.
OOTY BRANCH
[protected]@REDIFFMAIL.COM
[protected].

Dear sir,
I am having D- mat account with india infoline office Begampet, Secundrabad (Hyderabad). This account was opened for buying our Compeny (POWERGRID) Shares during allotment to our employees.

There are 1254 shares alloted to me @ Rs 54/-each. After 4 years i was told to sell my all shares @ 117/- and transfer 20,000 to my account and told him to we will buy again POWERGRID shares when ever share value decreses.

Mean while the employee of India infoline Mr. Maneesh was done the trading with out my knowldge and my ammount around Rs 1,40,000 brought to Rs 990.00 .

After wards i was contacted the office to buy the POWERGRID shares ,then I came to know my accont balance is only Rs 990.00.

Now i wanted to tell you sir even single time I was not opened my d mat accont and done the trading.
Now , the manager concerned is telling that the particular employee has lefet the compeny .

Now i am requesting you to give the proper sugisition to get back my money.

Regard

G.Eswara rao
mail id: [protected]@gmail.com.

Dear Sir/Madam,

I recently opened a dmat and trading account with India Infoline. I submitted all the required document to open the account including a cheque from the same bank which was to be associated with my trading/dmat account. Account has been opened successfully without any problem. The client ID provided by India infoline was ARAUSHAN. Later on I submitted one more cheque which succesfully cleared by my banker (HDFC).

After some time I got a major problem/ I met an accident and needed money so I request for fund pay out for first time. But it was not done. I called up thier customer care then i came to know, that my bank account number is wrongly recorded in their system and it need to be modified. For that support executive took the request and promised, account number will be modeified in next 48 hrs. After 3 days I again requested for FUND PAYOUT and failed again. Again I called up support team, bank account number is not updated and she again asked me to give the request and it will be updated in next 48 hrs. I was surprised I raised a question, what is the gurantee that this time it will be done in next 48 hrs as you people have already failed for my last request. she said this time it will done for sure.
Later I got a call from same executive that bank account number can not be modified as it required to filled up the form and give the supporting document in hard copy. I was surprised I raise the issue and i denied to do anything as it was not my mistake. I asked her please le me know my mistake. How come wrong bank account number has been recorded in your system. Is it your mistake or my mistake ?

They took almost 20 days to respond, i tried to get it addressed by their helpdesk, on line chat, complain section on thier protal etc. but no one turn up with appropriate solution. They are saying, you need to fill the the form to change the bank account. My concnern is why should I fill the form where as the account number in india infoline system is not what I have mentioned during the account opening form. I have given the appropriate supporting document during the account opening process. But they are not listening to me any way and they are sleeping.

I do not know what should I do. Please help me how can consume forum can help me in this regard.

Regards.
Rajesh Raushan
[protected]

IIFL HAVE ARBITRARILY CHARGED ME RS.400 APPROX PER MONTH ON SMS SERVICE, NO SMS TIPS EVER RECEIVED AND I HAD NEVER ASKED FOR IT, NEVER APPLIED FOR THEIR SERVICE. IIFL CHARGED AND DEUCTED FROM MY ACCOUNT WITHOUT PROVIDING ME ANY INFORMATION ABOUT IT. ONCE I LOGGED THEIR WEBSITE TO SEE MY ACCOUNT RECENTLY, I SHOCKED TO SEE THOUSANDS OF RUPEES TAPPING OR MILKING DOWN ON MY ACCOUNT OF NON-EXISTING NON-PROVIDED SMS SERVICE. YET THEY HAVE DONE NOTHING TO REDRESS THE MATTER AND NOT YET RETURNED MY AMOUNT.

FURTHER, IIFL IS IN REGULAR HABIT OF CHARGING DELAY-CHARGES EVEN AFTER THE CHEQUES WERE HANDEDOVER TO THEIR STAFF THE SAME DAY DURING/AFTER TRADING HOURS. THE DELAY ACTUALLY WAS ON THE PART OF THEIR STAFF WHO COULD NOT ENCASH THE CHEQUES NEXT IMMEDIATELY. EVEN FOR ONLINE TRANSACTION THEY CHARGED DELAY-CHARGES BECAUSE IT WAS NOT DEBITED INTO THEIR ACCOUNT AT BOMBAY.

THE COMPANY SHOULD PROVIDE BETTER SERVICE.

PLEASE HELP ME, THANKS

[protected]@YAHOO.COM

[protected]

I had issued a cheque of Rs.6800/- cheque no - 000008 dated[protected] for the purchase of public issue of PARABOLIC DRUGS LTD. My Demat A/c was not credited with the shares instead somebody else was erroneously alloted the shares instead of me. He even received the Rs.800/- for the diifference in the market price. I am complaining to their customer care on telephone lines since time of issue till today. But there is a very poor response from your side. I am very disappointed with what has happened with me.I need the refund of the said amount with interest.
The person who received the shares wants to transfer the shares to my Demat A/c but the company is not issuing DIS slips to any o[censored]s.
Please help me out with this matter, I am ready to give the required information for the said purpose.

Thanking You.

DEAR SIR,

I AM A DAILY TRADER AND HAVE DP UNDER INDIAINFOLINE LTD ( ID-ARUNPAL3).ON 25/06/2010 AT 03:21:00 P.M. I HAD GIVEN A BYE ORDER OF VALECHA ENG.LTD (NSE CODE[protected] PC SHARE (ACCEPTED AND WAITING IN Q ON EXCH.LINK IIFL ORDER ID IS[protected] & CONFERMED BY EXCHANGE IIFL ID IS[protected], NSE ORDER ID IS [protected]).


AFTER MY ORDER CONFERMATION I HAVE SEEN THE AFORE SAID STOCK CAME DOWN TO 198.6 (AT 03:22:08 PM & TRADED QTY 1860) , 198.9 ( AT 03:22:15 PM & TRADED QTY 875) , 198.3 ( AT 3:22:22 PM & TRADED QTY 341).

BUT MY ORDER REMAINS UNTRADED TILL END AND ON 03:29.33 PM I HAVE TO BYE THE STOCK AT 205.50. IN THAT WAY I HAVE LOST NEAR ABOUT Rs.2500/-.IF MY PREVIOUS ORDER WAS EXECUTED I MAY GO TO PROFIT OF Rs.400/- + .MY COMPLAIN IS THAT “HOW AN ORDER WHICH IS CONFIRMED BY NSE CAN BE UNEXECUTED HAVING HIGHER PRICE THAN TRADED PRICE ?” AND “ WHO IS RESPONSIBLE FOR THIS TYPE OF HAPPENINGS ?”.

.

AFTER MARKET HOURS I HAVE SEEN MY ORDER OF 400 PC VALECHA ENG LTD AT 199.20 WAS NOT FOUND IN MY ORDER BOOK.


I HAVE THE SCREEN SHOOTS FROM PC AND CAN SUBMIT THE SAME IF NEEDED.

TAHNKS & REGARDS

ARUN PAL
[protected]

I filled the form for account closing and given to my RM four month from today.after 2 month when i called him he told that you did not given your pan card copy then i personlly given him after that he left the job.when i called[protected] they inform your account will not closed because your balance only Rs.75/-.when i have given the request for closing that time in my account balance was 1000/-.i inquired in branch i come to know that debit was 275/& 660/ for special scheme( P).i want reply form infoline that show any proof that i adopted any scheme.this is done by their staff to cheat the customer. now for closing the account they are asking Rs.250/-extra this is clear cut cheating. i want to close my account and return my Rs. 1000/-.I have accounts running in Chembur Branch of India Info Line, mumbai
MY client ID :NidhiS 01
POAID: 03182311

Dear Sir/Madam,

I have opened my trading account DP ID 12044700 Client ID 05526970 with indiainfoline in February 2010.
To trade in FnO derivatives segment I had given my securities holding value more than 1250000
to indiainfoline for pledging to be used as required margin against my trades.

I was informed by your broking house authority that i am entitled to take debit exposure below 50% of my holding value.
but it is very unfortunate that even maintaining exposure/debit amounting to 50% of my value some delayed paying charges
were imposed on my account. My relationship manager had no explanation for these charges. Later he said that my securities
were not pledged. But I had already given my securities for pledging. After 3 months of opening my account my RM pledged my
securities and assured me that no delayed paying charges will be enforced in future. But still delayed paying charges are being
reflected in my account.
My RM said that these charges will be reversed. but no action had been taken from IIFL.
After experiencing such kind of irregularities by IIFL, I decided to close my trading account.
I asked my RM to depledge the securities and close my account. It had taken two months to depledge my securities.
On depledging the securities my account was in debit. They sold some of my securities without my permission and intimation.

I therefore you to please look in to this and do the needful ASAP, so that I can settle my account and recover my loss.
--
Regards
Himani Agarwal
ph-[protected]

sir i have submited my pf form to indiainfoline on month of dec 2009.... i have send many mail to local hr or mumbai they said they have send my pf claim form to pf office but now today after sever month they said they have not track my pf form and asking new one.... so pls help me let me know what can i do to get my PF ammount.....pls revert me

my pf no is MH/44546/5483
my email id is [protected]@YAHOO.CO.IN
my mobile no is [protected]

THE BANK ACCOUNT NUMBER I REGISTERED WITH IIFL IS WRONG. I HAVE GIVEN THE CHEQUE WITH CORRECT ACCOUNT NUMBER AND NAME. THEY HAVE REGISTERED A WRONG ACCOUNT NUMBER WITH MY DEMAT ACCOUNT. I HAVE COMPLAINED TO IIFL ABOUT THIS AND NOTHING HAPPENED. NOW I CANNOT TRANSFER MY MONEY FROM MY DEMAT ACCOUNT TO MY BANK.

i have a complaint agains the employee of india infoline ltd. UIT circle, udaipur (raj.)
i personaly visited the india infoline branch office for demate account opening. i had interect with Miss. Anjali Mandwani. Her behavior was so rude and unprofessional and she used a very abusing language with most of slank words to me.
She abused most of the client and her this type of behavior is not good for that office. The manager also realised this problem but he is not able to take any action because he is also a employee and working as branch manager at that branch office. She abused me very badly but still i opened my demate account in India Infoline becauseof good behavior of the branch manager and i want to see your action agaist her(Miss Anjali Mandwani)..
waiting for your action...
Thanking you !

Dear sir, 02/07/2010 8.18 pm
i am maintaining a demat a/c in above co.
it is observed by me that co is charging more
charges stipulated by SEBI/NSE and therefore
i asked the details from them as well as NSE.

On comparision the same with other brokerage
house i found the anomoly so i pointed out
the same to co

instead of clarifying the position co took it otherwise and on aggrieved upon SUSPEND
my demat a/c
kindly take up the matter and guide in the matter
regards
nimade

dear sir
i m dmat account holder from last 4 yrs. i am invester and i invest some amount in it i bought some shares for long term investment but last year i came to know that my account has some debit . when i investigate it i came to know that in my account fake trading was done by relationship manager of the company and whan i filed a complaint about it the employee of the company is not properly responding to my complaint.pls help me.
thanks

Tanmy mullick working in india infoline is cheat fraud person. he took my credit card and take rs 10000 from it. he work in india infoline kolkata; they dont pay what they promise he has a group who are carrying on fraudulent activity in selling insurance product his group member are sudipto bhowmick, kunal chkraborty.
they also supported his cheating activity be aware before you join these company. they rob you by telling all and give a brain wash to take money from you.
they neither provide proper information if you work with them you will also become a stamped cheat.
i ahve ruined my dad money by investing in those policy. as well they didnt pay me anything

hello sir my self surinder sood i have a open a demat account in the name of surinder sood in rajpura branch i have invest a sum of rs15000/-. no body deal properly to me so pls solve my problem. he says your account transfer in patiala branch. and patiala branch says no mapping. my cont no [protected]. pls do some thing

Hi,
They sold NTPC shares without my notice saying it is done from my side and i send many mails and called nearest indiainfoline office but no response from relationship executive and manager of secunderabad branch and even i called customer service they responded after 10 days saying that as per the company policy we will able to send log files top prove that above transaction is done from your side.

I think all customers belong to indiainfoline should withdraw and Sensex or Nifty should take strict action against indiainfoline and i also urge govt of india to blacklist indiainfoline and see that company should close down.

I also request indiainfoline to take action against the relationship executive and branch manager secunderabad.

My suggestion to new customers donot opt for indiainfoline at all.

I have opened my account with india infoline in month of November 2009


At the time of opening of my account i was promised a brokerage of 3 paisa 30 paisa.I started trading right away but 7 months passed away my brokerage still stands at 5paisa 50 paisa.

Some of the issues that i am facing are listed below :-

1) On date 07-May-2009 my shares were sold out without my consent on charges that my acccount is in debit of Rs 5100. But i have a proof that i made an online transfer of Rs 5200/- well before time, stilll my shares were sold without intimating me . i have all the relevant proofs for the same.

2) Earlier also some case are there in which shares have been debited from my account without intimating me that my account is in debit by my RM .

3) Few months back i made a complaint against Mr. Vijay Singh about his rude behavior . Since my current RM was on leave so i was asked to contact Mr. Vijay singh about my orders. But it has happened many times that he doesn't pick my phone.

4) Two months back, after suffering all these i thought of transferring my Account to some other branch for which i made a request and submitted all the proofs as required. My request was rejected .On talking to customer care i came to know that my request was rejected from my current RM end , without giving any substantial reasoning.

After 15 days of struggle with these people , and lots of email phone calls , i end up with nothing they still say it was done on run time (selling of shares), Even my RM was surprised how can they sell the shares according to him also , my account was not in debit .

I just asked them for complete information regarding what happened . This is the kind of service they provided. Now they have stopped replying.


Please guide me what steps i need to take.

My self Vimal M. Aswar , have an Account with INDia Infoline Ltd. i had given an application for change of bank status as well as payout on 29th April 2010 in writing with necessary documents but since local officer and other call center employee's are given properly reply when should i get my payout cheque ???

Whenever visit the branch no one pick up my phone calls and if i visited local branch , staff said your cheque is in process it comes within a day or 2 ????

Do the needful.

Dear MADAM/SIR,
Still i doubt your rist policy since few days back my R.M inform me
that now my scipt will be sell off/square off by the H.O if my account
is in debit for more then 5 days even my account may be in GHV cover of
50 percent or above. moreover i received information regarding your
risk policy at my terminal helpdisk in responce to my query your agent
reply jist/copy of the same is pasted below which says that if my GHV
cover are 25% my script will be square up to bring my account in cover coordinate with your concerned risk department and speak in one voice
else the customer shall lost faith on your broking house and in spite
of having state of art and sophisticated technology the customer base
will will be been on sinking as since a year i have met lot of your previous customer who have closed their account with your broking house
and shifted to reliable broking house due to your unfair,frequent
changing,unstable,hassy,unclear and unjust risk policy,pl go through
the response sent by your help desk agent to me is as follows :

Agent Response :
As per your query, we understand that there has been a debit sale of
scrips from your account on NAUSHAD9. However, this sale had been done
in order to keep your account in an appropriate cover. This is to
inform you that your account is under NFDC(Non Funding Category) where
your normal trading limit is 25% which is revised currently. This is to
inform that as per the risk policy of our company your account should
remain in the cover of 25% and above. If your account is in
considerable debit and your GHV Cover comes down below 25% then our
Risk management will sell the stock and bring your account cover to
25%. Note that unclear cheques are not taken in to consideration, if
your account is in debit balance. Please note that if your account has
a debit balance due to which your account was below the GHV cover, thus
to bring your account in a safety cover our Risk Management had sold
the stocks from your portfolio. Your account can be in debit balance
only for 5 consecutives day and on 6th day our risk department will
square off the positions to bring your account in normal trading limit.
If you still have any doubts and queries with regards to your below
query, we request you to please revert to us so that we are able to
assist you accordingly with the same.

On Tue, 18 May 2010 15:05:31 +0530 wrote
>
Dear Sir/ Madam,

We apologize for delay in response.

With reference to your mail for the login id: NAUSHAD9, kindly note that your account is mapped under NFDC category and as per the risk policy of our company your account should remain in the cover of 25% and above. If your account is in considerable debit and your GHV Cover comes down below 25% then our Risk management will sell the stock and bring your account cover to 100%.

Note that unclear cheques are not taken in to consideration, if your account is in debit balance.

Further clarification we request you to get in touch with your relationship manager in this regards.
We apologize for the inconveniences.

Kindly note intimation of debit balance mails are sent to the email id mentioned in the document and also while login into the terminal would get alert stating account below cover and need to contact Relationship Manager to avoid liquidation of stocks by RISK

Assuring you the best of our services at all times. Please get back to us for any clarifications.

Warm Regards,

Ashvini.A











------- Forwarded Message --------
CASE :- 635091
From : [protected]@rediffmail.com
Date :[protected]:05:04 PM
Subject : {Spam?} UNFAIR,UNJUST,ARBITRARY, DISHONEST IIFL RISK POLICY
To : [protected]@indiainfoline.com

This is unclear,clouded,unjust and unreasonable that the IIFL never
give the clear and just information regarding the risk policy to there
customer,as i am your customer since last 2 years,and as i was informed
by your broking house authority that i am entilled to take debit
exposore below 50% of my holding value.but it is very unfortunate that
even maintaining exposure/debit amounting to 50% of my value very
often my possition was square up within any information to me,secondly
whenever i could not trade for continues 10 days in such also my
possition was sqaue up for petty amount of debit in account,moreover
now i came to know that my possition will square up if there is
outstanding/debit lyinging my account for more then 5 days.
This is very shocking that IIFL do not have any certain risk policy
but for there personal gain squaring up the possition of the customer
within permissive limit,inspite of receiving interest from the day one
of the debit/outstanding.
If a broking house do not look aftwer the interest of the bonafide
customer and/or do not disclose it fair risk policy the customer will
be contained to shift to other reliable,honest,and competent broking
house as i have seen decline in the IIFL customer base since last 2
years.
I therefore request the IIFL to come with fair,resonable and just risk
policy else they will lost trusof bonafide customer and the day is not
far when it will not find any custome

http://sigads.rediff.com/RealMedia/ads/click_nx.ads/www.rediffmail.com/signature...⇄

This is unclear,clouded,unjust arbitrary and unreasonable that the IIFL never
give the clear and just information regarding the risk policy to there
customer,as i am IIFL customer since last 2 years,and as i was informed
by IIFL broking house authority that i am entilled to take debit
exposore below 50% of my holding value.but it is very unfortunate that
even maintaining exposure/debit amounting to 50% of my value very
often my possition was square up without any information to me,secondly
whenever i could not trade for continues 10 days in such event also my
possition was sqaue up for petty amount of debit in account,moreover
now i came to know that my possition will square up if there is
outstanding/debit lyinging my account for more then 5 days.
This is very shocking that IIFL do not have any clear risk policy
but for there personal gain squaring up the possition of those customer also who have debit
within permissive limit,inspite of receiving interest from the day one
of the debit/outstanding.
If a broking house do not look aftwer the interest of the bonafide
customer and/or do not disclose it fair risk policy the customer will
be contained to shift to other reliable,honest,and competent broking
house as i have seen decline in the IIFL customer base since last 2
years.
I therefore request the IIFL to come with fair,resonable and just risk
policy else they will lost trusof bonafide customer and the day is not
far when it will not find any customer