[Resolved] Kotak Securities — unauthorized deduction of money by Kotak

sanjmeh

from Bengaluru, Karnataka

Aug 13, 2010

Address: Bangalore, Karnataka

Earlier this year (April 2010) I was approached by a Kotak securities salesman by name Kiran (kiran.[protected]@kotak.com). I was also told the only charge I have to pay is the Rs. 750 at the account opening charge + brokerage of 0.4% or 0.04% for delivery /intraday trading respectively. That's all. I invested Rs. 10 lakhs + Rs. 750 as upfront charges. After 2 months I wanted my trading acct to be closed and money en-cashed. It was shocked to find that Kotak had dedcucted around Rs. 20,000 from my balance as other charges. They said the deductions was on account of was interest, DP charges, sales tax, stamp duty etc. etc. What should I do?

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Aug 13, 2020

Complaint marked as Resolved

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Comments

Kotak Securities Customer Care

from Mumbai, Maharashtra

Aug 16, 2010

Verified Support

Hi Sanjmeh,

This response is from Kotak Securities. There seems to be some confusion regarding the charges on your account and the best way to clarify your issues would be a quick call with Customer Care.

Could you share your Client ID and Contact details over a Private Message (Just reply via the ‘Send email’ option) so that Customer Care can get in touch with you soon?

Regards,
Kotak Securities.

cpvaswath

from Bengaluru, Karnataka

Mar 27, 2012

Kotak securities people are cheats.They promise to give free service and deduct money without without permission.