Geojit cheating clients?

Discussion in 'Investors Grievances' started by seemaes, Sep 20, 2008.

  1. seemaes

    seemaes New Member

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    They say the company is driven by trust - Now let me share my experience with Geojit - I took 10000 shares of Geojit in 1999. Later I came to know that there were no shares existing in my name.Only recently did I get to know that my shares worth lakhs of rupees have been transferred through a fraudulently opened B.O. account with Geojit. When I approached the company directly, they gave me many misleading details regarding the account. In despair I wrote a complaint to NSDL and as per the instructions of NSDL, Geojit sent me copies of an account opening form, a stamp paper carrying my name and forged signature, and a transaction statement. Now the company is saying that I went to their office in person and opened the account when they clearly know that I have not. What shall I do now to prove that the company is cheating me? I have filed a case against the suspects in CJM court in Cochin.The prime suspect happen to be one of the directors of the company for years.
     
  2. vasa1

    vasa1 Active Member

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    Well, I have had an off-line account with Geojit since about 1999 or 2000 which I didn't monitor closely. The shares that I had were untouched and I've recently (December 2007) converted the off-line to an on-line account and so far have not had any unpleasant experience with them.

    Anyway, all the best to you for whatever the problem is.
     
  3. columbus

    columbus Well-Known Member

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    I do not have a GREAT opinion about GEOJIT either.Few years
    back I opened an online account with them.I waited patiently for
    months to get my password and login name.When I contacted
    them ,simply they said WHAT YOU OPENED IS A TRADING
    ACCOUNT WITH US.IT DOES NOT ENTITLE YOU A PASSWORD.
    YOU NEED TO APPLY FOR ONLINE ACCOUNT SEPARATELY.
    What I have lost was OPENING CHARGES which is peanuts
    compared to what you have lost.My object of putting this
    post is BE CAREFUL while opening the account with any
    Brokers.
     
  4. TFL

    TFL Well-Known Member

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    Dear columbus,

    Sharekhan have such an option to take trading account with out online account.
    The guys at their office may not considered you as an online trader through internet.
    I too got the same issue and then I have filled up and given the online trading application and everything works fine now.

    Its true that geojits affiliate firms all around are not so aware of the system much.

    (This from my experience only...its may not be true in others cases.)
    Hari.
     
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  5. columbus

    columbus Well-Known Member

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    Hari,

    I opened an a online account with SHAREKHAN ,five years ago.I did not face any problem with them.Geojit few years back advertised ,TRADE WITH US FOR 75/- Lot for futures.At that time Nifty's lot size was 100.I found it was lucrative.Then Nifty lot was changed from 100 to 50,I thought GEOJIT will also do the same by halving the Brokerage.When I contacted them they refused to reduce the brokerage.

    My ONLY complaint with Sharekhan is SLOW refresh rate of quotations.I found the differences in nifty futures is as much as 15 points some times ,which is quite HUUUUUUUUUGE.
     
  6. rohangawale

    rohangawale Well-Known Member

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    in that case i will prefer indiabulls, as its very fast if we are using pib.
    the rates u see are live rates as per nse.
     

  7. TFL

    TFL Well-Known Member

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    May be of some issue...
    But in my Trade Tiger (sharekhan) I get quotes realtime(checked with other real time providers. Also remember Moneycontrols (web & tv) quotes are not realtime.) always... I have an extremely good internet connection.

    You may be using web interface(Classic or Fast Trade A/Cs) for realtime quotes in sharekhan. Their Trade Tiger Account is really good. I can't trust the +-15 min difference in realtime...I am a futures trader and gets no such issues in sharehan.

    Hari.
     
  8. columbus

    columbus Well-Known Member

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    Hari,

    Sharekhan's TRADETIGER is excellent platform ,I like it very much.But stock quotes are a bit late.CNBC-18 ,NSE stock quotes are LIVE ,I repeat LIVE whereas BSE's are not.Plus or Minus 10 is quite common on SHAREKHAN whereas Plus or Minus 15 is rare.
     
  9. TFL

    TFL Well-Known Member

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    Thanks columbus,

    I will re-check it throughly...

    Hari.
     
  10. shanku1061

    shanku1061 Member

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    Its not surprise.

    I have many of my friends complaining about loosing many lots of commodities all through fraudulent deals by insiders in Geojit.

    They normally dont give explanations on customer queries and prolongs the disputes without any clarification and finally the customer is at loss.

    Its a bunch of culprits in central office and with chamchas all across there branches and terminals.
     
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