Aditya Birla Commodities Broking Limited
Cheating / Fraud

We have booked Gold under a scheme with Aditya Birla Commodity. Where we have to open a demat account for Rs. 25000/- and rest in Rs. 3500/- monthly installments for 3 years. We have booked 100 gm gold on 30/03 at Rs.16428/- gm from Mumbai Branch from Client ID G907133. While in May I was shifted to Ahmedabad permanently and updated all contact details with Ahmedabad Branch of Aditya Birla Commodity and tried to book 100 gm more gold from there but scheme was closed and the cheque of Rs. 25000 was refunded to me. We have received the statement on our updated address. They have announced a new scheme on Jan where booking of min 1000 gm was compulsory starting from March at that time also we are in touch with them.

In January they square off my account on rate of Rs. 19813/- per gm, without any information and Rs. 68507 transfered to my ICICI A/c on April 12, that too without information. When we contacted concerened branch Mumbai they were in dilema and does know the reason for same. In Chennai, they are really the king, when contacted they told we have informed your respective branch before squaring off and we does not think customer should be informed by email, sms or registered mail. We have considered one reason for your squaring off your account that you have not picked up our two calls when we contacted you in Dec and Jan. Justification by mail is not possible. When we tried to mail back or complaint all the mail id given are bouncing even on the website Email: abm.care@adityabirla.com is bouncing, where we have not attached any thing in it. Mumbai Branch says all communication address are updated as you have got mail on your registered address and they do not know who is the concerned person we talk with.

Chennai Branch only justifies there approach that they are right, whether all other laws and bylaws are not enforcable on them. There is no need of consent of customer before square off whether they are paying Rs.3500/- monthly without lapse.

I have booked the gold to get in physical after 3 years for a reason. As I am not financially well off to get the 100 gm of gold paying huge amount in lumpsum. The loss is huge for me whether in terms of financially, emotionaly or mentally. The behaviour of employees of such a repute organisation, is just what makes feels more cheated, that such big-mind people seeks there profit from the person who is mere a customer of 100 gm in there organisation. I suppose I am not alone who have been cheated this way.

Company: Aditya Birla Commodities Broking Limited
Country: India
State: Tamil Nadu
City: Chennai

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