Indiabulls Complaints & Reviews

IndiabullsMy overall impression is that company's rank and file employees are lowly paid and disgruntled

It is more than a month to my filling forms for opening an account, and I am yet to get hold of my account details. All I have got till now is few emails confirming that my account has been created with Indiabulls. I tried to contact so called relationship manager, but he seems to have changed his mobile number. Email requests to Indiabulls have never been replied. If anybody knows what kind of action I can take to at least make them refund my account opening fee, please let me know.

I would absolutely prohibit everyone to deal with Indiabulls. My overall impression is that company’s rank and file employees are lowly paid and disgruntled, who’s attitude towards customer satisfaction is worse than even government organizations.

Also, I am now hearing that Indiabulls POA gives them power to trade in your account even without your permissions. So, stay alert... you have been warned!!!

IndiabullsLoss due to neglegency of operators.

I have a trading account in Indiabulls at Panipat and I am an Intraday trader. A few months back, I suffered a loss of about 20, 000/- due to shear neglegency of the operators. On that day I had sold about 1000 shares of SAIL and asked to put a stop loss of s. 5 higher so that I do not suffer loss more than 5000/- But at the end of the day, I was stunned to see that the loss was more than 25000/- Actually, the operators at Panipat are very ingorant and careless and do not even know how to place stoploss orders. On checking, I found that the operator had put thebuy and the trigger price same, due to which it did not trigger and the shares were finally squarred off at a very high price at the end of the day.
Since then, I have been pursuing Indiabulls to make up my losses. My relationship manager Mr. Rahul Bajaj is totally irresponsible man. Now instead of making up my losses, they have disabled my trading terminal. I have sent hundreds of mails to helpdesk, higherups but to of no use.
I expect some useful suggestions from you that how should I proceed. This is very strange, that the loss on account of Indiabulls has to be born by the client. Why. Is there no body to take action against them.
I have never experienced such an irresponsible from any other company so far.

  • Lx
    Lxn Nov 19, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Not only is their service useless in your city, its the same throughout India. I feel happy to hear that they are making huge losses, after having cheated everyone. Hope they never resurface again.

    0 Votes
  • He
    HealWorld Aug 26, 2009

    FYI...they are doing fine.

    As you said this trade has happened over the phone, you may approach SEBI/NSE/BSE, as your call must have been recorded and based on the recording appropriate action can be taken...just an idea.

    All The Best!

    0 Votes

IndiabullsUnauthorized selling of securities!

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!

  • As
    Ashish Razdan Sep 28, 2007
    This comment was posted by
    a verified customer
    Verified customer

    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
    Anonymous Dec 07, 2007
    This comment was posted by
    a verified customer
    Verified customer

    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
    AIYASAMY DAYANAND Jul 16, 2008
    This comment was posted by
    a verified customer
    Verified customer

    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
    alisha Aug 25, 2008
    This comment was posted by
    a verified customer
    Verified customer

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

    0 Votes
  • Ao
    Aobille Jul 14, 2010
    This comment was posted by
    a verified customer
    Verified customer

    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
    channisanger Jul 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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
    channisanger Jul 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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
    channisanger Oct 13, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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

IndiabullsUnauthorised trading, not refunding money

A year ago, I opened a trading account with IndiaBulls Trading company in Bangalore. Within 2 days of opening the account, the company used the money in my account without authorisation to buy shares on its own, without even informing me. Later in the evening, a customer care executive called and said that he had done me a big favour as i would make a lot of money in the future days.
I immediately asked IndiaBulls to close my account and return all money to me since i felt they were not trustworthy anymore.

They did not return my money, and my follow up calls after that have not been answered. I lodged a complaint on the SEBI website about this, and also wrote to the company secretary email id as given on their website, but did not get a response.

Can India Bulls please take ownership of the wrong doing by them and return my money to me?

Akanksha
Bangalore