KOTAK SECURITIES LTD
Incorrect Liquidation of Securites in my Demat account

This complaint is regarding incorrect & erroneous liquidation of my securities after receipt of false debit mailers to me & also after receiving repeated confirmations from customer service executive over recorded phone lines informing me that my securities are safe & will not be liquidated. (Evidence for reference-Kindly refer to the taped telephonic conversation between me & the executive on 01/10 between 10.00-11.30am). This is mainly due to non-reflection of funds transfer amount in the ledger balance which supplements inaccurate calculation by the risk management systems leading to false debit mailers, incorrect margin computation & false debit positions on my account, resulting into liquidation of my securities on 01/10 in error.

I am completely disappointed & hurt with the approach of my broker in resolution towards this query of mine.

To resolve this problem I require my broker to return my securities that are incorrectly being liquidated. Further, I would like to suggest that they should make their risk management systems more efficient so that customers like me are not victimized for such mistakes at their end & that the information that is being provided to the customers from their executive should be truthful & accurate!

Thank You

Hrishikesh Sonawane

Company: KOTAK SECURITIES LTD
Country: India

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