[Resolved] IndiaBulls — Debit amount

[Resolved] IndiaBulls — Debit amount

S Sanatni Ramakrishna from Ghugus, Maharashtra Feb 18, 2008

Dear Sir, We have recived a debit not from Indiabulls With reference to the letter Sl.No.4966 for payment of dues for Rs.41,938/-, we would like to inform you that after we recieved the letter we followed the issue with our RM and asked about the daily margin report for January month. He has provided the data from 17th January only. As per their system which has to carryout squaringoff the positions once the margin reaches the 80% level. The RMS (Risk Management System) will square of the position.This was happened many times in our other account. But they have not done it delibretly for few days before the maket crashed. I am not only the person there are many clients who are facing the problem and they are forcebily collecting the payments from clients and sending the Lawyer notices for which client is not at all responsible. Relationship Manger he himself agrees that its there RMS mistake. The details are.... Margincall daily reports details 1st Jan to 16th Jan no details were given. 17th Jan-----161% here itself your RMS has to square off the position at 80% but not done. 18th Jan-----88% here itself your RMS has to square off the position at 80% but not done. 19th & 20th Holiday 21st Jan-----94% here itself your RMS has to square off the position at 80% but not done. 22nd Jan----922% here you have squared off our position. By not providing the earlier margin call reports from 1st to 16th Jan and squaring off the position at 922% looks somthing fishy. Please help us in this regards.... Regards, Santani Ramakrishna Was this information helpful? No (0) Yes (0)
Aug 13, 2020 Complaint marked as Resolved
2 Comments	Share
Submit Close

Related IndiaBulls reviews

View all 2694 IndiaBulls Reviews

Comments

D RAVI SANJAY

from Chennai, Tamil Nadu

Sep 24, 2008

DEAR SIR,

SAME IS MY STORY. INSPITE OF A WARNING CALL THAT MY POSITION REACHED 90% AND MAY BE SQUARED OFF IF MARKET FURTHER CRASHES. RMS DIVISION OF INIDABULLS WAS SLEEPING AND DID NOT SQURE OFF MY POSITION AT THE APPROPRIATE TIME AND SQURED OFF WHEN MY DEBIT BALANCE REACHED RS. 53000/- WHOSE MISTAKE IS THIS. HAD THEY SQUARED OFF AT THE APPROPRIATE TIME I WOUL HAVE BEEN LEFT WITH CASH OF RS 6000. SO THEY HAVE CREATED A LOSS TO ME.

PLEASE ADIVISE ACTION

REGARDS,
D. RAVI SANJAY
CLIENT ID 301669

kdayaldas

from Mumbai, Maharashtra

Feb 4, 2009

HARASSMENT & TORTURE BY INDIABULLS TO EXTRACT EXTRA MONEY.
I had taken personal loan from Indiabulls of Rs.25, 601/- on 25/5/2007 and repaid Rs.22600/- but just default in one of my EMI of Rs.1800/-, Indiabulls misused my blank security cheque by filling false amount of Rs.28, 249/- and they also misused my blank signed loan agreement by filling false figures of 30 installments instead of 24 (Usurious rate of interest more than 60 % p/a.), denied the receipt of some amount debited from my bank. Even though I tried to settle the dispute by offering reasonable amount pending principal amount and interest amount but to extract extra money from me Indiabulls has filled bogus cheque bounce case against me in Patiala House Court, New Delhi. As it is tough to defend the false cheque bounce case traveling from Mumbai to Delhi, Indiabulls forcing me to pay Rs.33208/- plus uncharged interest. To extract the money company filled thousands of cheque bounces cases in Delhi Courts. In spite of my several complaints to RBI against India bulls, RBI not taking the matter seriously and protecting Indiabulls by neglecting all my complaints. The whole system is working with Indiabulls. To earn huge money Indiabulls bring the thousands of poor borrowers to suicidal point. Financial Company openly violate the fair business practice guidelines given by RBI.
[protected]@gmail.com [protected]

LINK:- http://www.mid-day.com/news/2009/feb/020209-Indiabulls-Securities-Limited-invest...⇄