Kotak securities
Unauthorized deduction of money by Kotak

Earlier this year (April) I was approached by a Kotak securities salesman by name Kiran (kiran.thibbegowda@kotak.com). I was also told the only charge I have to pay is the Rs. 750 at the account opening charge brokerage of 0.4% or 0.04% for delivery /intraday trading respectively. That's all. I invested Rs. 10 lakhs Rs. 750 as upfront charges. After 2 months I wanted my trading acct to be closed and money en-cashed. It was shocked to find that Kotak had dedcucted around Rs. 20, 000 from my balance as other charges. They said the deductions was on account of was interest, DP charges, sales tax, stamp duty etc. etc. What should I do?

Company: Kotak securities
Country: India
State: Karnataka
City: Bangalore

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