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Indiabulls / Unauthorized selling of securities!

1 India Review updated:

The indiabulls have sold my securities without informing me due to which i have suffered huge loss.their officials verbally accepted their mistake but now they turned from their own words and refused to compensate me.

Nobody seems to be interested in solving the customer complaint and making excuses and delaying the matter thus harassing and cheating me. Due to their mistake i have suffered loss and feel mentally tortured.

Is there anybody in indiabulls to solve the matter or they will keep on cheating the investors. And making money by wrong ways!

Beware!

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Comments

  • As
      28th of Sep, 2007
    Indiabulls - Unresponsive IndiaBulls
    India

    Hi,

    I opened up D-Mat Account with India bulls.

    When I opened this account I was promised by the Representative Mr Shankar Yadav that the account is opened for Re. 1and there are no HIDDEN Charges but since that time the account shows debit balance of Rs. 900 which was intimated to me via e-mail.

    I wrote a mail to India Bulls regarding reversal of the charges as it was not communicated to me and come under FRAUDLENT measures to acquire customers but nothing was done about it and I was advised to get in touch with Mr. Mohd in gurgaon office.

    I am sick and tired of following up with Indiabulls representatives for NO FAULT OF MINE and the best is their assurance which they give regarding reversal of the charge but 7 months down the line nothing has been done about it.

    Post this, I kept on following the same issue with Mr. Shankar Yadav and Mr. Mohd (Mobile Number 9810442194) who continuously assured me that this charge will be waived off but till date I keep on receiving mails about the debit balance.

    THIS IS IRRITATING & IMPROFESSIONAL BEHAVIOR ON THE PART OF INDIABULLS LTD AND ABSOLUTELY PATHETIC EXAMPLE OF CUSTOMER SERVICES.

    KEEPING IN LEIU THE ABOVE CASE I requested INDIABULLS TO CANCEL MY D-MAT ACCOUNT AS I DO NOT WISH TO CONTINUE MY RELATIONSHIP WITH A COMPANY WHO DOES NOT CARE FOR ITS CUSTOMERS AND WHO USE FRAUDULENT MEASURES TO BLIND CUSTOMERS.

    But nothing has been done about it.

    0 Votes
  • An
      7th of Dec, 2007

    I am having the same complaints against Indiabulls, some of the equities are missing from my portfolio.

    Did you get it back, or have you informed SEBI or NSE?

    0 Votes
  • Ai
      16th of Jul, 2008

    Samething happened to me also.

    I purchased 2 lots of gold on 10th june and the market was going against me on that night. I informed the RM. Coimbatore to send a request to the head office not to sell my lots till I give specific instruction as I was travelling from chennai to Coimbatore on that night.

    To my shock I found that both my gold lots were sold as well as new two transactions have taken place on my account without my knowledge and I was informed by the local RM that my lots were squared up by some team from bombay and they were helpless to do anything on this.

    When I complained to the helpdesk of INDIA BULLS I was given a reply after 40 days that they have squared off my positions on 11th june due to shortage in my deposit. But the records go to show that the 2 lots have been sold on 10th june at 9.30pm itself.
    The funniest part of this is I still have about 12, 000/- in my account after suffering Rs.42, 000+ loss.

    I want to know to whome I have to compain with to get back my posistions? will someone help me to solve my problem.

    0 Votes
  • Al
      25th of Aug, 2008

    why dont you inform the press about it, like newspapers like Economic Times, Business standard and Times Of India.

    0 Votes
  • Ao
      14th of Jul, 2010
    Indiabulls - The service after account opening has been terrible
    Indiabulls
    United States
    indiabulls.com

    The service after account opening has been terrible. I have given them the benefit of doubt but they still continue to:

    1. Give false assurances that requests will be completed. However, not once have they replied and updated me (the customer!) on the status of my requests. I always end up making atleast 20 frustrating calls before they even think of moving.

    2. They have changed the pincode on my mailing address to one that does not exist in India! That has cause many missed mails including dividend checks from companies. I have been requesting them to change this for months but to no avail

    3. They keep passing the blame within their own organization. "Sir he was supposed to do that, " "Sir I have asked him but he does not listen etc." I often feel like a refree between them!

    4. My frustration level can be gauged from the fact that my detailed letter of complaint sent to Indiabulls (online, to Gagan Banga and Jain, both Directors in the firm) have not been addressed. I have not even receieved a one-line acknowledgement of receipt!!

    I wish I could sue Indiabulls for poor customer service but I guess we will have to wait a few more years in India before we can do that.

    All in all, "ZERO PROFESSIONALISM & Dukandar mentality"

    Pls Help. While I have and am stressed about them I hope that subsequent action against them will help new customers get better service. I have my doubts though.

    0 Votes
  • Ch
      24th of Jul, 2011

    I have booked a flat in Indiabulls whenever I am calling for status or for any query the answer is "we need to check with head office". I tried to contacted Customer care manager, she always says "please call latter as she is attending a Customer". If I call latter her answer is very arrogant and say "don't call, we will get back to you", as usual no reply.
    I have been to site as well and saw the progress is very slow. they have start working on phase 2 where as phase 1 is still not completed 40 %.

    moreover now I have compared that their other charges like electricity, water, severage are too high.

    Above all, they are charging Car parking charges of 2 lacs and as per legal and suupreme court judgement last year Sep, they cannot charge. asking on this these people says "we are waiting for head office reply as many people are complainting on this". but when ever their is a demand of installment, they give hardly 15 days with a penelty clause of 18% of delay.

    Please help...

    0 Votes
  • Ch
      24th of Jul, 2011
    Indiabulls - illegal charges charged
    Indiabulls
    India

    I have booked a flat in Indiabulls green - chennai, whenever I am calling for status or for any query the answer is "we need to check with head office". I tried to contacted Customer care manager, she always says "please call latter as she is attending a Customer". If I call latter her answer is very arrogant and say "don't call, we will get back to you", as usual no reply.
    I have been to site as well and saw the progress is very slow. they have start working on phase 2 where as phase 1 is still not completed 40 %.

    moreover now I have compared that their other charges like electricity, water, severage are too high.

    Above all, they are charging Car parking charges of 2 lacs and as per legal and suupreme court judgement last year Sep, they cannot charge. asking on this these people says "we are waiting for head office reply as many people are complainting on this". but when ever their is a demand of installment, they give hardly 15 days with a penelty clause of 18% of delay.

    Please help...

    0 Votes
  • Ch
      13th of Oct, 2011

    I am still following it up with them but still no go through. they are not even bother. advice / suggestion never go to this type of Builders who never bother to take once you have paid booking amount.

    now I got stuck and cannot come out. please you guys beware of these fraud

    0 Votes

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