IL&FS InvestSmart
No Settlement for security transaction made

I have a demat account with IL&FS InvestSmart Bangalore Branch

I have made security transaction and requested for settlement (Fund Withdrawal) on 11th April. My trading account is linked with CITI Bank Savings Account. In general, fund movements happened in a days time as I opted for e-transfer.

Till date, I haven't received the amount. In this regard, I contacted ILFS InvestSmart Office in Jayanagar, Bangalore yesterday (After 4 days from the date of

request).

As per My Online Combined Ledger record, on 11th april, the amount has been transferred to some unknown account which I am not aware of it. I complained to the concerned in IL&FS and a complaint has been registered [Ticket#2000028477]. They have unresponsiveness answers every time.

On 15th April, Around 10am, I was told that the "Cheque has been already dispatched to me and they assured to get the Bill-Way (courier) details. Advised not to panic. They gave me the exact cheque no that I would be receiving. Also told that my online transaction was deactivated for some unknown reason, that is the reason they issued the cheque"

Around 12.30am, I was told that the "Cheques has been dispatched from Mumbai office to Jayanagar not to me. Once they get it, it will be dispatched to my savings account or sent my

residential address. Only this particular transaction was failed due to some technical reason, but my online transaction is still active"

Around 6PM, I was told that the "No Cheque is issued. The money was transferred already as per my online transaction on 11th April. I was asked to re-check my savings account in spite of stressing false account no shown in the ledger record"

For the last 3 days (till today afternoon 1 PM), I was repeatedly told that the amount has been credited and asked to check the account.

When I wanrned them that I would raise complaint, the response from Mr. Karthick, Branch manager, ILFS InvestSmar, Jayanagar, Bangalore was, "Am I stopping you? Pls go ahead"

Pls help me to solve this issue. The amount is more than 2 lakhs and I am under deep financial crisis to sell my shares in loss. But the purpose is not getting solved. I am forced borrow money from outside to meet my expenses

Company: IL&FS InvestSmart
Country: India

  <     >