Kotaksecurities: Mutual fund units reduced

Discussion in 'Investors Grievances' started by muralimr, Feb 26, 2007.

  1. muralimr

    muralimr Member

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    Suddenly from today morning onwards 4000 Rs worth of Mutual fund units disappered (Not showing in my position statement). Unfortunate part is even mutual funds transactions doesnot show purchase of missing units.
    Fortunate part is I have physical statement, which shows these units for 4000 Rs.
    I raised this issue with Customer care and waiting for the reply
     
  2. kroswal

    kroswal New Member

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    i was promised 18 np flat brokerage by kotak rp,contract note also charges 18 np brokerage but after expiry of month kotak debits me differential brokerage which means kotak charged effective rate of borkerage at 59 np.is it honesty or cheating.usually investor do not read all papers put before him for sign because of huge signs.i want to know from forum whether it is permissible to charge after one month of issuance of contract not through ledger debit route
     
  3. systemtrader

    systemtrader New Member

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    As far as I know kotak has a slab based brokerage structure which is also part of the agreement that I had signed as a client. If my memory serves me right, the agreement clearly states that based on the volumes done, the account can be credited or debited for brokerages.

    In fact they have even reversed servive tax also.
     
  4. kroswal

    kroswal New Member

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    my point is kotak should not promise 18 np flat brokerage while negotiating brokerage charges.if they explains 59 np slabwise brokerage noone investor will open new account with kotak when there are plenty brokers who offer 25 np flat brokerage.
     
    Last edited: May 7, 2007
  5. kroswal

    kroswal New Member

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    thanks for your reply.it is question of unfair trade practice because when kotak rp negotiates brokerage with me he do not mentioned volumewise slabs even i have told him that my volume is two lac monthly, therfore he should have told me what is printed in their tariff card then i am guilty of signing without reading that form,but when he hides that part of agreement it is unfair trade practice.
    i will be happy if you explain how you have reversed service tax from them
     
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