Kotak Securities — non-compliance of negotiated brokerage & terms. debited penalty on exit

Address: Kolkata, West Bengal, 700068

I regsitered for demat a/c & trading a/c after long negotiation with rm khalid hussain. Subsequently, i received welcom kit containing a letter with the information : user id, email, trading code, nominee (Faulty name in spite of submission the pan card & aadhar card), demat a/c no. Bank a/c & name, dp name, one sealed security docket containing pin.
No documents were submitted in physical copies. No client master list, no dis book, brokerage as per web - not as per negotiation.
In spite of repeated request, they agreed to reduce the brokerage as per negotiation but added a hidden penalty clause. This was not acceptable to me and requested to cancel /close my a/c and refund the money debited from my bank a/c. They debited after deduction of huge amount.
In this context, no trading done, trading a/c not activated by security pin, no bids were placed, no contract note /bills were issued on account of debited a/c.
My prayer:
1) refund the whole amount with interest
2) compensation of rs. 10, 000/ for harassment, mentally agony to a sr. Citizen (Investor) of +73 yrs.
3) stringent action against the rm & escalating officer srihari nambier, who did not abide by the company. S terms & conditions published on company's public domain, where there is no penalty clause of exit.
Was this information helpful?
No (0)
Yes (0)
Kotak Securities customer support has been notified about the posted complaint.
Aug 07, 2018
Updated by arunabha68
Name of Investor: ARUNABHA BISWAS
Cl. ID: ARUN44_5
cell: [protected]
email: arunabha.biswas
Trading Code: A0DJZ (A ZERO D J Z)
Demat a/c: 23994161
DP Id: IN300214
DP: Kotak Security
 
Add a Comment

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Kotak Securities
    customer care contacts
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    62%
    Complaints
    385
    Pending
    0
    Resolved
    227
    Kotak Securities Phone
    +91 6652 9191
    +91 6621 6666
    Kotak Securities Address
    27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, India - 400051
    View all Kotak Securities contact information

    New Member Registration

    The following information is hidden from other customers and is only visible to representatives of the company you are complaining about. This step is optional and can be skipped below.

    New Member Registration

    Already a Consumer Complaints member? Log in now
    •            
      or

    New Member Registration

    A confirmation email was sent to "".
    To confirm your account, please click the link in the message.

    If you don't see the email in your Inbox, please check your Spam box.

    User Login

    Not a member of Consumer Complaints? Register now.
    •            
      or
    Loading, please wait...


    Your password has been sent to the specified email address. Log in

    User Facebook Login

    GDPR