» Business & Finance » Review / complaint: ICICI Securities Limiited - FORGED SIGNATURE | News #296389

ICICI Securities Limiited

Dear Sir/Madam,


As I'm afraid after seeing my forged signature at few leaves of the account opening application form which carbon copy has received in the first week of March.

I'm asking to the Indian Government, Have you ever given sanction to the ICICI group for creating a forged signature of clients at any leaf of the account opening application form and elsewhere?

Is this forgery appropriate for client acquisition? Because of my account has taken under the umbrella of trust in unethical behavior and darkness of deception. Therefore, I intended to publish this legal issue for World's Investors.

Elaboration in terms of forgery:

With regret having to say that first time on 10-Jan while I visited Varanasi branch of ICICI Direct/Securities for entire tools of investments, personnel (Mr. Madhayesh Singh, Gaurav Srivastava, Archit Malviya and Mukesh Yadav) was committed for providing the cheapest brokerage than Kotak Securities or could be reduced more if you can have presented a contract note of the earlier broker. Moreover, many times whenever I have confirmed for all other statutory levies except Service Tax on Brokerage and Securities Transaction Tax, whether all shall be charged exclusively or not. All of them ensured me that no other levies shall not be charged except ST on brokerage and STT.

Meanwhile, no one from the Varanasi branch didn't ever tell me, that the default brokerage 0.03% & 0.30% are for the first three months only, and thereafter it will change to 0.05% & 0.50. I utterly understood now, why they weren't giving the AOF to me, to show my parents, and why didn't present the fee schedule on request.

Conversely, I'm utterly unable to understand, while in the event of a forged signature, the application form number 2200025736 submitted on 11-Jan was liable to be rejected, then how the company has opened an account? (instead returning the form to the applicant)

Even though personally, opportunity of changing the account opening form had been given as a goodwill gesture. However, the company has shown inability to make any changes, regardless of what they have done wrong.

Thereby, I have revoked all agreements between us, and the company will have to bear any losses of my account to be caused of forged signature and signatory. Furthermore, for such forgery, the company shall have under a legal obligation to pay me the claimed amount of INR 20 crores, if the company closes this account without my consent. (Under any clause of revoked agreements)

I agree that once I committed a mistake, when I had withdrawn all of my complaints with the company, and made amends for the worry of career of the involved personnel in crime, when they assured me that all problems will be resolved at very earliest (again found a false commitment).

In conclusion, I request you to change the submitted account opening application form, and complete all commitments too. Please return each leaf of the AOF held with my forged signature, so that the justice may be done.

...with trust


Once, the same issue was happened with State Bank of India, and the form was rejected by higher authorities of the bank. However, the personnel had destroyed the application instead revert me in fear of the police case.

Conversely, ICICI group has opened the account instead returning the application to the applicant directly.

Company: ICICI Securities Limiited

Country: India   State: Uttar Pradesh   City: Varanasi

Category: Business & Finance


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