Hello Munnabhai,
You are still better placed. Kindly hv a look at the following to know more about India Infoline. This is the copy of the letter that I had complained to NSDL. Also, let it be known that their s/w , which they claim is as fast as lightening is 100% false statement. Perhaps they have not seen the other s/w such as PIB, Pointer,Trade tiger etc. which are much more superior. Currently, I am awaiting reply from NSDL. Next step I am planning to to complain to SEBI about misleading the clients by India Infoline.
Sir,
13.09.09.
NON-HONOURING THE DELIVERY INSTRUCTION BY INDIA INFOLINE. CLIENT ID 12717274 – DP ID IN302269
Sir,
Recently a girl by name Shridevi from India Infoline called up and requested to opening online share trading account. I told her that I am with Ventura Securities and am availing the brokerage scheme of .02 for intra-day and .15 for delivery, which I find cheapest and as such not interested. She assured me that I will get the same facility, for which I said, I can not afford to pay towards opening new a/c. with every broker and as such not interested. She again assured me that I need not pay anything.
However, while filling up the form, she said I will have to pay Rs.555/- towards a/c. opening charges. Being small amount and also since form was filled up, I agreed to it. Then, I reminded to her that with India Infoline, I had bad experience in the past, when one sale order placed for sale of 100 Indian Oil shares were executed in 5 transactions and for every transaction, India Infoline charged me Rs.20/- (total Rs.100) towards DP charges, she suggested I go in for annual DP charges scheme of Rs.661/-, for which I readily agreed. The above amounts debited from my account, copy of ledger is appended.
On first day of trading on 20.8.09, I observed that the brokerage charged was .05 for intraday. Subsequently, Shridevi called me and said that the brokerage has since been reduced. I presumed that the reduced brokerage is as per commitment and increased the trading only to find that brokerage was marginally reduced. When I took up the issue, I was told to transfer my holdings from Ventura and afterward only, further brokerage would be reduced. For which, I was not agreeable. How can I believe cheaters?As I felt cheated and in no way I am ready to continue with cheaters, I decided to quit and accordingly submitted Delivery instruction slip no. 755721 dated 2.9.09 for transfer of 50 shares of India Bulls Real Est. and 25 RNRL to ventura.(client ID 10409687 DP ID 303116). But the delivery instruction was rejected on the ground that there is no ledger balance available towards DP charges. I clarified that I had already paid 1 year DP charges in advance ( not used even a single paisa) and requested them to refer to the ledger. Inspite of this, again vide e-mail dated 11.9.09, they harped the same thing stating that I should submit fresh DIS along with remittance towards delivery charges. Again I wrote back stating that since I had paid in advance towards DP charges, there is no question of making payment again and the DIS( sent by me on 2.9.09 through courier) must be honoured by 5PM of 11 09 09 or else I would report to NSDL, but they ignored this warnig.
Sir, I humbly request you to take up the issue with India Infoline and take necessary action to get the shares transferred to my account with Ventura Securities.
With regards
(B.S.BANGERA)
Hide Menu LEDGER (01/04/2009 - 13/09/2009) << Go back
Date Particulars Debit Credit Balance
18/08/2009 By BANK OF BARODA *Receipt = 450386 *450386 6155.00 6155.00Cr
19/08/2009 To Being amount debited for account opening registration charges for NSDL demat no 12717274 555.00 5600.00Cr
19/08/2009 By Being net transfer HDFC Bank [ 819120050 ] *819120050 5000.00 10600.00Cr
20/08/2009 To BILL FOR NN2009155 4839.38 5760.62Cr
21/08/2009 By BILL FOR NN2009156 27.11 5787.73Cr
21/08/2009 By BILL FOR BW2009099 6.19 5793.92Cr
25/08/2009 To Being DP SPL Annual scheme from 18-08-2009 to 18-08-2010 including service tax for NSDL demat no 12717274 661.80 5132.12Cr
25/08/2009 By BILL FOR NN2009158 4946.58 10078.70Cr
26/08/2009 To BILL FOR BW2009102 7174.70 2904.00Cr
27/08/2009 To BILL FOR NN2009160 2176.49 727.50Cr
28/08/2009 To BILL FOR NN2009161 6960.28 6232.77Dr
28/08/2009 By BILL FOR BW2009104 47.55 6185.22Dr
29/08/2009 By TRANSFERRED BETWEEN NSE AND BSE 5935.74 249.48Dr
29/08/2009 To TRANSFERRED BETWEEN NSE AND BSE 5935.74 6185.22Dr
30/08/2009 By Being net transfer HDFC Bank [ 830203331 ] *830203331 6186.00 0.77Cr
01/09/2009 To Being Delayed Payin Charges for August 2009 4.16 3.38Dr
01/09/2009 By Being net transfer HDFC Bank [ 901204944 ] *901204944 3.38 2.54Dr
05/09/2009 To TRANSFERRED BETWEEN NSE AND BSE 1185.22 1185.22Dr
05/09/2009 By TRANSFERRED BETWEEN NSE AND BSE 1185.22 2.27Dr
Page Total : 29492.77 29492.77 2.27Dr
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The entries appearing in this ledger account are as per the transactions,charges and receipts/payments of funds and securities, effected by the client from time to time as per the instructions of the client as per the client agreement and other authorizations entered by the client with India Infoline Ltd. The same are factual,true and correct and duly acknowledged, verified and accepted by me (Client).
For
Account of :BANGERAB(Mr. B S BANGERA )
Print Date :13/09/2009 01:26:27PM