Dear Sir/Madam,

I have been harassed by ICICI securities for quite some time now. Without my authorization they debited 20000/- from my account. They did not have a valid justification of their action.

I would like to summarize this entire event -

1. On 27th Sept 20000/- were debited from my account withut my consent.
2. The description shown in my bank account was - “EBA/PUR-Post Schm/GOI Bd/20100927160715 “. Which was highly misleading.
3. I had to make frantic calls to ICICI to chase up and identify the reason for this debit
4. ICICI could not confirm me the reason for this until 11th Oct.
5. On 11th Oct ICICI identified that due to some mistake on its part the money had gone to Mahindra Finance as a Fixed deposit
6. On 21st Oct after much chasing of ICICI, Mahindra credited 20000/- to my bank account via cheque no 5231.
7. On the same daye this Cheque got bounced because of some issue with the Cheque
8. On 3rd Nov Mahindra has credited one more cheque worth 20000/- to my account.

My concerns are -

1. This entire issue lasted for around 35 days.
2. I had to spend a lot of money on making local and STD calls to chase the issue. From Bangalore to Mumbai.
3. I lost on the opportunity cost for this 20000/-as I could not utilize these funds during 35 days.
4. The money was debited without my consent.
5. The description against debit in my bank account was inaccurate.
6. I lost a lot of time chasing this issue.
7. I suffered a lot of mental agony during this period.

I have sent ICICI securities repeated mails for compensating me on this, but no response. I raised a complaint on SEBI's site also (on 8th Nov) but no response.

Need your help.

Vipin
Demat account no - 8500743502