Kotak Securities - Substandard Firm?

[pisces]

Dear all traderji's followers,

I have approached and submitted all the required documents to kotak securities about 3 weeks ago from now, and after the cheques are encashed, till date i have no account or welcome kit with me. I contacted the customer support, Just to realize that their costumer service is nothing next to scrap with annoying reply(Like 2 days after a complaint a women calls me and says she will look into the issue and call me after 1-2 days), with female attendants horrible as hell who doesn't understand or has any interest to solve grievances with nothing much but to waste time.

With my complain pending for over 4 days and no reply from them, I preferred to take the case to next level and asked the executive to connect me to their superiors but they said there are no superiors to them and they are the final authorities.

Now i conclude that, my first entry in the share market is buying a kotak trade account and that's been to a loss of zero.

Has any one been in such situation like it before and is there any way i could get out of this situation?

Surprisingly, there are no - appellate authorities or nodal officers to forward issues. Is it unique to kotak? or could it be common to most DP's.

Thanks for looking into my query and solution is appreciated.
:sos:

 

[sandal wood]

Don't you have any other broker other than Kotak or Icici? These are worst specimen you can find. They not only charge through the nose (high brokerage + for every delivery of shares by sale they charge another 25/- or more even if you have demat account with them + high annual DP account maintenance charges)

 

[srivelkalki]

PLEASE WRITE TO SEBI:thumb:

 

[qwerty12]

I am holding a trading account with Kotak Securities. I was holding shares of a company while selling the same by mistake 50 was entered as a quantity which was executed and on enquiring the same with the brokerage firm they have informed that short selling was done for the same.

I am nowhere known to these techniques. I wish to approach them for the same as they did not inform me that the same will be short sold while trading.

Please give your views and suggest legal remedies if any.

 

[hrishi9000]

PLEASE WRITE TO SEBI:thumb:

SEBI is in their pocket.....

They are un experianced....

beware of them.........................

 

[mohan.sic]

I am holding a trading account with Kotak Securities. I was holding shares of a company while selling the same by mistake 50 was entered as a quantity which was executed and on enquiring the same with the brokerage firm they have informed that short selling was done for the same.

I am nowhere known to these techniques. I wish to approach them for the same as they did not inform me that the same will be short sold while trading.

Please give your views and suggest legal remedies if any.

If you had sold qty more than your holding, its your mistake.
Broker has no give and take on this. If the shares were short sold without holding, the same will be informed to client by its broker and Exchange will follow the process and buy shares in auction and had to deliver to the buyer.

 

[mohan.sic]

SEBI is in their pocket.....

They are un experianced....

beware of them.........................

What sebi in their pockets and pants.
Its a simple mistake by a trader, and exchange has a process to follow in such cases.

 

[hrishi9000]

What sebi in their pockets and pants.
Its a simple mistake by a trader, and exchange has a process to follow in such cases.

I personally had this EXPERINCE with them... because of their IDIOT staff i lost 3L... u know what is 3L???

mind it....


I think u are from kotak........ or u r their agent.....

 

[mohan.sic]

I personally had this EXPERINCE with them... because of their IDIOT staff i lost 3L... u know what is 3L???

mind it....


I think u are from kotak........ or u r their agent.....

For your 3L loss, go to exchange/regulator grievance cell if your concern is genuine.

My answer would be same even if the broker in the query is icici. Does that mean i work for icici ?

In this case, the shares are sold without having the holding. The following process will be same with any broker. So what are you talking about ?

 

[hrishi9000]

For your 3L loss, go to exchange/regulator grievance cell if your concern is genuine.

My answer would be same even if the broker in the query is icici. Does that mean i work for icici ?

In this case, the shares are sold without having the holding. The following process will be same with any broker. So what are you talking about ?

My friend this is india. Eadher kuch bi ho saktha hai...
U remember the scams happned in nse .. what happned after that..

As u say if i go to seby and comlplain i will loose another 5L..

GOOGLE and check about kotak.. u ll come to know..

U ARE JUST A KID IN THIS game...