Kotak Securities — NEO app crash caused losses in trading

Address: Flat 74/115 Kurmanchal Niketan, Patparganj, Delhi -92

I have taken up this issue with Kotak Securities already. On the 20th October 2023 the NEO app from Kotak Securities had a malfunction affecting many users. Due to this malfunction in NEO app I could not put a stop loss or square off my positions since all the positions disappeared for a good 30 minutes. In my frantic attempts to sell the lots, I lost at least 5-6 points per share that amounts to closely 40K-45k for a total of 7875 shares, script name "Eicher Motors 3580 CE 26 October". Although the brokerage firm is owning up to the mistake in the app, they are providing a very less amount as compensation/goodwill gesture which is approximately for 2 points only. I am not getting a clear communication for the broker and being asked to bear 50-70 percent of the mistake done by NEO app.