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Karvy Consumer Complaints

Incorporated in 1990, Karvy Stock Broking Ltd (KSBL) is part of KARVY Group; one of India's leading financial services company provides stock broking and research advisory services. They offer Customized investment solutions to corporate, institutions and individual investors through its wide network of offices. Using their combine account facility one can trade in Equities, Derivatives, Currency or invest in IPOs, Mutual funds or NCDs under one roof. Based in Hyderabad they are among one ...

Complaint against Karvy Broker

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Karvy brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Karvy customers. The Karvy consumer complaints report analyzes the Karvy online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Karvy broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Karvy complaint no. report also provides Karvy’s number of active clients. This shows the growth of the broker year on year.

Karvy Consumer Complaints

Exchange	Financial Year	Number of Clients	Total Complaints	%
BSE	2020-21	36,901	197	0.53%
NSE	2020-21	2,064	4798	232.46%
BSE	2019-20	36,503	458	1.25%
NSE	2019-20	243,256	7443	3.06%
BSE	2018-19	39,838	36	0.09%
NSE	2018-19	268,272	241	0.09%
BSE	2017-18	77,702	50	0.06%
NSE	2017-18	244,753	225	0.09%
BSE	2016-17	52,545	25	0.05%
NSE	2016-17	181,384	150	0.08%
BSE	2015-16	37,334	38	0.1%
NSE	2015-16	166,923	191	0.11%
BSE	2014-15	26,284	31	0.12%
NSE	2014-15	172,489	173	0.1%
BSE	2013-14	518,521	29	0.01%
NSE	2013-14	126,308	113	0.09%
BSE	2012-13	464,143	40	0.01%
NSE	2012-13	555,326	114	0.02%
BSE	2011-12	427,708	77	0.02%
NSE	2011-12	580,994	142	0.02%

Karvy complaint at NSE

	2020-21	2019-20	2018-19
Defaulter Yes/No	Yes (Expelled)	No	No
No. of clients at the beginning of the year
No. of active clients	2064	243256	268272
No. of complaints received *	4798	7443	241
Resolved through the exchange	184	825	230
Non actionable **	20	50	0
Advised / Opted for arbitration	0	3	0
Pending for redressal with exchange	4594	6565	11
No. of arbitration filed by clients		6	10
Decided by arbitrators in favour of the clients		5	10
Decided by the arbitrators		4	7
Pending for redressal with arbitrators		1	0
% of No. of complaints as against No. of active clients	232.46	3.05	0.08
% of complaints resolved as against complaints received	4.25	11.79	95.43

Karvy complaint at BSE

	2020-21	2019-20	2018-19
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year	3016340	1030514	859806
No. of active clients	36901	36503	39838
No. of complaints received *	197	458	36
Resolved through the exchange	28	77	32
Non actionable **	0	302	0
Advised / Opted for arbitration	0	4	4
Pending for redressal with exchange	169	381	4
No. of arbitration filed by clients	0	0	0
Decided by arbitrators in favour of the clients	0	0	0
Decided by the arbitrators	0	0	0
Pending for redressal with arbitrators	0	0	0
% of No. of complaints as against No. of active clients	0	1.25	0.09
% of complaints resolved as against complaints received	14.21	16.81	88.89

Note:

* Including against its sub brokers, authorised persons, employees, etc.
** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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146 Comments

146. KUL BHUSHAN KAPOOR Feb 25, 2021 20:25

Reply 0

My demat with karvy stock broking ltd is in 300394 13115923 trading account no 1407217. I purchased 50 share of Colgate polomoive purchased on 21st nov 2019. Till date I have not got the share despite complaints with Nse and sebi in nov 2019. Shameful for karvy for cheating seinor citizen. God knows whether we will get our shares and amount lying in trading account

145. Kumar Feb 5, 2021 20:54

Reply 0

Karvy

U r ditcher

My hard-earned money is block

Take imm action to release my shares

144. anantha prasad Jan 8, 2021 21:02

Reply 0

posting on behalf of S.K.SATYANARAYANA MURTHY, Who is 85 years., KARVY it is shameful on ur side to trouble an senior citizen who is 85 years.,, DP.NO.1301440003731891 ,Trading no.239005369., kindly release his holdings in the account and cash balance(ledger balance Rs 75,985.71 IMMEDIATLY.,,,understand the pain,situation of senior citizen and need of funds

143. Rameshwar Gaikwad Dec 5, 2020 20:20

Reply 0

Hello Karvy,
Since last 1 year, I was not able to transfer my securities fund and deposit amount held in my karvy DMAT Account : 1301440001989791.
Karvy blocked me in all ways to do any fund transfer or deposit transfer to my Bank account and none of your business communication/contact number's works.

It is very frustrating that I can't transfer my deposit amount and share holding also can't login now on Karvy portal there is a system error generated.
I trusted this authority and Karvy did fraud with me.

142. Manisha Jan 4, 2021 15:00

Reply 0

Following up with Karvy, NSE, SEBI since Oct 2019 & still no revert. My cash is stuck in Karvy. It's been 15 months already. When will I receive my money

141. G.S. Krishnamurthy Sep 12, 2020 13:10

Reply 0

what decision has taken in the court about pledged equities and commodities . my A/C NO 3331153 in which my equities woth about 9 lakh is pledged without my knowledge all been purchased againest cash It is my hard earn money pl z guide me what to do next

141.1. Yogesh Dabholkar Dec 3, 2020 21:21

I have given transfer of Stock form and required documents to Karvy to transfer my stock to Hdfc security in March 2020.
Only yes bank shares have been transfer why are other stock not done?

140. Meera Kapoor Nov 26, 2020 16:32

Reply 0

I had sold shares of ICICI Prudential, ICICI Lombard and Larsen & Toubro Infotech through Karvy Stockbroking Ltd. Chowk Branch Lucknow on 11 and 15 November 2019 for Rs. 377388.43 and had been requesting them as also the NSE and SEBI for release of payment but the same has not been paid to me. I request them to please expedite the transfer of money to the SB account with ICICI bank Chowk Lucknow registered with them since I am in urgent need of money.

139. Vivek Oct 25, 2020 10:43

Reply 0

Plz do my payout of rs 34000 and transfer my reliance dlf and pnb share

138. Nitin Shirsat Jun 14, 2020 12:32

Reply 0

My mother, Mrs. Vidya Shirsat sold 424 shares of Reliance industries on 29.10.2019. Her DPID- IN300394, Trading ID-A4401117, CLIENTID- 80288292
Till to date , she has not received a single rupee from Karvy. Kindly look into the matter at the earliest as she needs money for her medical treatment( suffering from brain tumour)

138.1. Salar khan Aug 3, 2020 13:18

No contact on toll free number

137. Probir sen Sep 27, 2020 21:25

Reply 0

I was following up with the person with whom I was dealing in karvy and this is since Nov 26th of 2019 and till date I have not received my payouts. Today the employee of karvy stock broking with whom we were dealing have left karvy and this is the scenario in almost all karvy stock broking units, I personally know visakhapatnam, siliguri & kolkata branch where almost all the staff of karvy stock broking has left and joined in other broking firms. In this situation we the investors has to come forward and force all the regulatory authorities to take action against persons responsible in karvy stock broking limited otherwise it will result in a big dent in the entire gambit of stock market. People involved in money laundering, financial fraud, breach of contract should not be allowed to go scot free.

136. G.S. Krishnamurthy Sep 12, 2020 12:41

Reply 0

my account no 3331153 i have received the message from your end that my fund balance is uploaded according to sebi rule now iwant clarify whether the above uploaded funds is in my demat holdin whether it can be transford to another agency

135. Dr Ashok saraf Jul 29, 2020 11:44

Reply 0

6m icd given by medicare clinc 50L on 14.9.19& 30L on 30.9.19 to karvy data management.6 m intrest recd. no intrest & principle refund after that
Same fate Balram dealer 50L on 14.9.19,70L on 30.9.19 & 40L on 19.5.19

134. Dr Ashok saraf Jul 29, 2020 11:23

Reply 0

Medicare clinc gave 6month icd to karvy data management services 50lac on14.9.19 & 30 Lac on30.9.19. With great difficulty they gave intrest up till maturity date. They haven't returned principle & intrest after due date of maturity
Balram dealer gave 50L on 14.9.19,70L on39.9.19 & 40L on1911.19.same fate as above

133. SAURABH JAIN MEERUT Jul 26, 2020 14:57

Reply 0

WE HAVE MAKING SEVERAL COMPLAINTS TO KARVY (MEERUT BRANCH) PERSONALLY FROM 2019 NOVEMBER TILL LOCKDOWN STARTS MARCH-20 , WE ARE STILL EMAILING TO KARVY BUT THEY ARE GIVING EXCUSES SINCE LONG TIME THEY HAD NOT TRANSFER MY SHARES FROM BENEFICIARY ACCOUNT TO DP ACCOUNT AND MY CASH BALANCE WAS ALSO STILL THERE THEY HAD ALSO NOT TRANSFER IT , ANYONE CAN GUIDE TO SOLVE THIS ISSUE SINCE NOVEMBER-2019 AND NOW 26.07.2020 ONLY WE GET EXCUSES FROM KARVY

132. Amit Sankalan Jul 23, 2020 00:07

Reply 0

Why this karvy is exploiting us so much my client code 3181760 its a very long time they are not transferring my shares to my account what to do its miserable i m going to take them to court

131. M J Baby Jul 18, 2020 18:23

Reply 0

My account number is 494476. My payout dues of Rs 70000plus is yet to be received. Several requests made. No result. What should i do further

130. Sudhir Bansal Jun 18, 2020 23:17

Reply 0

There is no customer care response,no any solution even several e mail complaints to official of Karvy. And also no response from local office Meerut. My payout issue is pending since 21 nov. 19, they are not transferred my money into my account. Worst trading company. Now what should I do?

130.1. Harbir Singh Jul 9, 2020 09:43

I was having 52 shares of relience industries Ltd in my trading account.now vanished from my account my dmat account no is30155721106082.As it is my hard-earned money.So pl.credit my shares .

129. Amit Kumar Bhaduri Jun 24, 2020 18:17

Reply 0

karvy has not refunded my money. I am following up with Karvy since October 2019. And all they say is that the team is looking into it and will refund. After the locked down in mar2020. Hyderabad Office remains closed and when I followed up in June 2020 again, no Phone no is active till now, I want to escalate this matter to the highiest autority in Karvy.

128. Roopa Bansode Jun 23, 2020 20:28

Reply 0

MY name is Roopa. After sending several reminders. Couriered original cheque.. karvy has not refunded my money. I am following up with Karvy since October 2019. And all they say is that the team is looking into it and will refund. After the locked down in mar2020. I forgot to follow up and when i followed up in June 2020 again, they want me to send the details right from the scratch. I want to escalate this mattre to the highiest autority in Karvy.

127. h s shashidhara Jun 19, 2020 11:17

Reply 0

My client code is 1212060 I request karvy head office look into the matter of irresponsible and irregular activities form you people, even after requesting to transfer of shares you people are not responsible to respond, it is hard earned money I have invested and many irregularities in the account I want immediate action from karvy head office to rectify and transfer of shares because hence forth no point in believing.

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Karvy Consumer Complaints

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Karvy Consumer Complaints

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146 Comments

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