Hi,

I would like to complaint against Kotak and their fraud commitments and poor service.

I opened a demat account account with kotak in march 2010 and the person told me that the brokerage charges will be 0.025 for intra-day trading and 0.20 for delivery, he also said that you will have to provide Rs 1103 as margin to get this. Now when my account was activated I saw that Rs 1103 were missing, after several calls they told me that this is a pre-brokerage package and the amount will be returned after 6 months, where as margin means that the amount should have had been reflected in my account.
After 6 months now they change my brokerage to 0.6 on delivery without any notification, and on confirming why so they say that the brokerage was lower because of the pre-brokerage package, and this was never informed to me while opening the account or when they returned me the Rs 1103 amount.
I called them up and asked to lower the brokerage amount, as this was never informed to me, now they have again deducted Rs 250 from my account towards differential lower brokerage amount, with no prior information stating that any charges would be imposed.
Now they are not providing any information if they will revert this amount or not.

Kotak has ruined my money, and my peace of mind.