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Indiabulls - Pathetic to say the least

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Investors Grieviences Discuss your personal grieviences and frustrations with stock market intermediatories like brokers, registrars, bankers, etc.


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  #1  
Old 10th July 2007, 05:35 PM
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sunit.bansal is on a distinguished road
Default Indiabulls - Pathetic to say the least

-> Indiabulls' representative came to my place and offered me to open an Demat/Trading account for which i was supposed to pay Rs900( and no futher charges for life time ) . He offered me a decent brokerage as well .

Following are the issues:
1. He left the Indiabulls' job about 3-4 months back and Indiabulls' never cared enough to provide me with a RM.
After contacting helpdesk, i came to know that i need to file a written complaint regarding RM leaving the job (though RM was an employee with Indiabulls, nothing short of being ironical)
Till date , i havent been allocated a RM......... What the hell ......... I would also mention that my previous RM wasnt of any use either as i never recieved any good equity calls from him either.

2. Now i witness that there is something called CDSL charges that are being deducted from my account ( every month ) ( After contacting customer case i came to know that the charges are legal) . But i was never informed by my RM regarding this .I explicitly enquired from him if there are any other charges that are hidden etc which might get deducted from my account. He replied back saying NONE WATSOEVER !
Besides i would mention that i my brohter has an account with Sharekhan folks ( at a better brokerage that Indiabulls' offered me ) and they never deducted anything called CDSL of D'mat charges and no hidden charges. His experience with them has been nothing short of awesome whereas mine with Indiabulls' has been desperately pathetic.
I contacted representative ( though he has already left Indiabulls') and asked him about CDSL and he says he is still not aware of any such charges and advise me to contact Indiabulls'.

3. After calling up the helpdesk regarding RM facility the customer care executive ensured me that i ll be alloted a RM within 48hrs.
Now when i called up again the Senior customer care executive answered it takes 72 hrs ( What the hell ! ) . This speaks volumes about Indiabulls' professionalism to me .

4. I never recieve any replies from helpdesk though i might have written them umpteen times.

Then i recieved a call from Karol bagh Brach Manager. This is wat happened:
Hi all,
Just to append on the issue I recieved a call from Karol Bagh branch from Indiabulls'
Just during the conversation He mentioned that he is not responsible for what the representative told me
Generalizing, this statement the manager admits that he is not responsible for what sort of service the guyz reporting to him or his reportees are providing to Indiabulls' clients
Once again to hear such provoking statements makes me wonder about professionalism of Indiabulls' and their employees and to add salt to the wound the concerned people are running away from their/or their reportees mistakes by citing stupid and pathetics reasons
Alas, Experience with Indiabulls' is getting sour with each passing moment....

I am getting desperately irritated by such behavior .
I wish something is done asap .

Friends,
Still there has not been any response watsoever from Indiabulls'.... Such is there professionalism
Folks, Just keep distance from this team
I perfectly understand that CDSL charges are legal but the response their Cust Service has provided and the fact that i was kept ignorant about these charges speaks volumes.



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  #2  
Old 11th July 2007, 06:50 AM
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Default Re: Indiabulls - Pathetic to say the least

Hello Sunit,
I can understand your frustation but believe me

Count your self lucky you do not have a RM / and or did not follow his call or you would have been bankrupt by now and writing something quite differnt here.

The helpdesk normally responds within 24 hrs or you can always use their help line number mentioned on their site.
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Old 11th July 2007, 07:44 PM
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Default Re: Indiabulls - Pathetic to say the least

Thnks for the reply loosingstreak.
I ll update u abt the latency that helpdesk has taken to reply . i wrote the 1st mail of 5th and subsequently on 7th and 9th . Till date no one has replied though i have called helpdesk atlease 2 times after 9th july and the Cust. representative told me that they will reply back by the EoD. Now , 2 more days have passsed and still no reply
I even called up Mr. Banga and his secretary / representative told me that he shall contact asap and again 2 days have lapsed and noone has dared to contact or bohter about the issue .
These responses speak volumes to me that u shud rather stay from pathetic thing called INDIABULLS !
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Old 12th July 2007, 12:11 PM
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Default Re: Indiabulls - Pathetic to say the least

Thats really pathetic. But persistence pays. Keep at it Sunit.

Wake up INDIABULLS.
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Old 12th July 2007, 12:35 PM
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Default Re: Indiabulls - Pathetic to say the least

Sure loosingstreak
I am not going to let this pass buy so easily unless i get a compensation of some sorts !

Can u please do me a favour and propagate this ageanda against Indiabulls to the traders/investors' you know so that they are able to safeguard against such incompetencies of Indiabulls !
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  #6  
Old 12th July 2007, 12:54 PM
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Default Re: Indiabulls - Pathetic to say the least

TRUE SUNIL....very much pathetic service....

to add listen to this...
tried opening an account in the mnth of june took all the document as per advice..
signed all the forms required..as per the indiabulls agent...
Initially they said will take around 5-7business day..AGREED..
now its been more than 1mnth and still no news..
yesterday Indiabulls Agent calls me and informs some forms are missing..u need to apply again..( thank god ..he didn't ask me pay Rs900 again..hahahahha)..
WHAT A SHAME....
Bottom line
<<INDIA BULLS SUCKS>>>

will try to cxl and open sherkhan acct...
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Old 12th July 2007, 01:05 PM
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sunit.bansal is on a distinguished road
Default Re: Indiabulls - Pathetic to say the least

You are right
INDIABULLS' SUCK
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Old 14th July 2007, 10:47 AM
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Default Re: Indiabulls - Pathetic to say the least

Friends one thing all the traders of indiabulls should take note that all the RM's of Indiabulls are not qualified enough to handle customers.

Indiabulls has practice of peeking up sales people from banking who sell credit cards or some sort of bank account. This people have zero knowledge of equity markets. They are just recruited to get accounts and loose clients money. I know so many traders of indiabulls who have lost money and made good money once switching over to other broker.

I have had 7 Rms changed in 3 months.

Indiabulls is now no longer interested in securitires business.
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Old 14th July 2007, 03:24 PM
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Default Re: Indiabulls - Pathetic to say the least

Nilesh is right... Infact, I opened the a/c in the month of May this year & face similar problems like what Sunit has faced, Indiabulls really do suck, also the RM dedicated to me took off 3 weeks after I opened the a/c with no information on whom to contact, a few days back, when I tried calling their number to sell a few of my shares, nobody picks up the call, I was said that they previously had 2 traders & now since 1 of them have left, they are facing these problems, when asked when will they have a new one, I was informed that not for a few months as they do not have so many customers at the moment.. This is completely disgusting as if they do not have sufficient customers, then why are their phone lines busy..
Moreover, just to let you know, they do not allow you to buy scrips of some B2 & Z category shares!!!
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Old 15th July 2007, 09:02 PM
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Default Re: Indiabulls - Pathetic to say the least

I have different experience with Indiabulls. After having opened account in Feb 2007, I used to get calls from IB Relationship Manager with Buy/Sell List of various stocks & how market will pan out that day. But I have found hardly few calls getting profitable. In the first one month I lost money with their calls. After that I asked RM not to call me for giving details of which share to buy & which one to sell. The fact of the matter is that even if a client lose money broker will still make money. My question to Indiabulls is what is the point of recruiting people with shalow knowledge of stock market. Their only aim is to convince customer to trade - whether profitable or not.


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