India Infoline Staffs doing their own Trading in Market hours and No Customer Care!

Arasutt · #1 1st June 2007, 10:53 PM

I have very bad experience with India Infoline. The company allows theirs Staffs demat accounts and trading in theirs Offices. The result is always they are busy in their Trading including Branch Mangers. If they gets profit, they are happy. Otherwise they were sad and they are not speaking properly. Eventhough, If they are profit then also they enjoying their profit nevermind the customers service. whatever their Profit or loss, that affecting to the Customers. There is no proper response, no customer care, Phone is not pickingup otherwise busy. So I am shifting to other Broker. The Company suppose to take serious action to their staffs and terminate their Demat Accounts. Other Broker office never allow their staffs trading. Why India Infoline not following this policy?.

aroymkp · #2 2nd June 2007, 01:05 AM

give complaint to SEBI and Media - may help

basudeo · #3 2nd June 2007, 12:59 PM

Members,

I am also facing great problem to recover my money from them. On the 20th April,2007 I told them to close my a/c. Their staff at Hyderabad told me that OK, we will close and transfer your balance in your bank a/c. But after a week I found that my a/c was not closed. I again reminded them. At that time there was a balance of Rs. 3418/- in my a/c.

After 2-3 days their staff Mr. Keshav confirmed me that 2000/- were already transferred in my a/c and I have to sign a form. But on enquiry from the bank I found that only 1500 were transferred in my a/c. I went to their office and signed the form and told them to transfer my balance amount imediately. I also emailed at their customer servive.

In the first week of May I found that my a/c was still running and they promptly deducted Rs. 1000/- from my a/c being the advance charge for the month. Around 10th May I received a call from their Mumbai office from Subhashini that why I want to close the a/c etc. I explained every thing to her and she told me to do the needful after talking to their Hyderabad office. I told her to send my balance 1918/- at their earliest.

After 2-3 days I received the call of Keshav and Subhashini again. Keshav completely u-turned and put whole burden upon me that I did not sign their form in April. Subhashini also repeated the same thing.

Friends, till today I fail to recover a single paise from them.

I request the friendly members of this group to suggest me the procedure so that I can book such greedy peop[le.

basudeo

suba_stocks · #4 3rd June 2007, 10:54 PM

Quote:

Originally Posted by basudeo

Members,

I am also facing great problem to recover my money from them. On the 20th April,2007 I told them to close my a/c. Their staff at Hyderabad told me that OK, we will close and transfer your balance in your bank a/c. But after a week I found that my a/c was not closed. I again reminded them. At that time there was a balance of Rs. 3418/- in my a/c.

After 2-3 days their staff Mr. Keshav confirmed me that 2000/- were already transferred in my a/c and I have to sign a form. But on enquiry from the bank I found that only 1500 were transferred in my a/c. I went to their office and signed the form and told them to transfer my balance amount imediately. I also emailed at their customer servive.

In the first week of May I found that my a/c was still running and they promptly deducted Rs. 1000/- from my a/c being the advance charge for the month. Around 10th May I received a call from their Mumbai office from Subhashini that why I want to close the a/c etc. I explained every thing to her and she told me to do the needful after talking to their Hyderabad office. I told her to send my balance 1918/- at their earliest.

After 2-3 days I received the call of Keshav and Subhashini again. Keshav completely u-turned and put whole burden upon me that I did not sign their form in April. Subhashini also repeated the same thing.

Friends, till today I fail to recover a single paise from them.

I request the friendly members of this group to suggest me the procedure so that I can book such greedy peop[le.

basudeo

yours example is best example to know ....how most of the people do mistake...first of all you said ..you didn't write to them ...so where is the document of proof that you reported them to close your account????

i think what they said is correct ...it comes into existence only from the time of your sign on required form.

lesson to all is .. 1) want to close account ...know the procedure and do it on paper as soon as possible...preferably before starting of the month.

2) any sign to be made ..do it as soon as you can ..preferably before starting of the month or ( before starting of your billing cycle)

suba

bangerabs · #5 4th June 2007, 01:09 PM

When one is not happy with any broking house, alternative is to quit. I hv done it whereever I found that (1) brokerage is higher (2) suppressed the truth (3) hidden charges etc. No one should waster their time and money. One is always at liberty to switch over. Definetely one would settle some where.

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