I had personally visited Kotak Securities, T Nagar branch on 4th october and met executive
With so much of pain and distress, I had explained to her on the following:
1. The reason for rejection of my request to change of my bank account to ICICI which was submitted atleast a month ago.
2. To stop a fund transfer in "default" mode from my Demat account to Kotak Mahindra Bank account, since I wanted the money to be transferred to my ICICI account.
She found out the reason for rejection, the most insignificant one indeed. This again originated from your own end, as the Pincode details of my ICICI bank account was filled out at your end
she also made me to raise a query in my demat account for a change request
Above all she spoke to her Mumbai office in front of me and gave me an assurance that the money transfer scheduled is manually stopped and it will not go to my Kotak Mahindra bank account.
With so much of all the above efforts,
When I open my bank account two days after I was really shocked to see that her assurance was not kept and the money was transferred to my Kotak account!
More disturbing is, the money transferred is adjusted against the various charges for which I am not at all intimated in advance. Since the account was opened as a Zero balance account I was not expected to maintain a minimum balance, whereas, so many instances of debits have taken place for Mon-maintenance of balances and this credit has been adjusted against them.
WITH ALL THESE EFFORTS, I HAVE NOT YET GOT A RESOLUTION FOR MY GRIEVANCE AND IT IS REALLY SHOCKING TO KNOW THAT SUCH SHARKS DO PREY ON THE INVESTORS' HARD EARNED MONEY!