Karvy Consumer Complaints

Karvy Detail

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 ... Know more about Karvy

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

2020-212019-202018-19
Defaulter Yes/NoYes (Expelled)NoNo
No. of clients at the beginning of the year
No. of active clients2064243256268272
No. of complaints received *47987443241
Resolved through the exchange184825230
Non actionable **20500
Advised / Opted for arbitration030
Pending for redressal with exchange4594656511
No. of arbitration filed by clients610
Decided by arbitrators in favour of the clients510
Decided by the arbitrators47
Pending for redressal with arbitrators10
% of No. of complaints as against No. of active clients232.463.050.08
% of complaints resolved as against complaints received4.2511.7995.43

Karvy complaint at BSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year30163401030514859806
No. of active clients369013650339838
No. of complaints received *19745836
Resolved through the exchange287732
Non actionable **03020
Advised / Opted for arbitration044
Pending for redressal with exchange1693814
No. of arbitration filed by clients000
Decided by arbitrators in favour of the clients000
Decided by the arbitrators000
Pending for redressal with arbitrators000
% of No. of complaints as against No. of active clients01.250.09
% of complaints resolved as against complaints received14.2116.8188.89

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

KUL BHUSHAN KAPOOR
146. KUL BHUSHAN KAPOOR  Feb 25, 2021 20:25 I Like It. | Report Abuse 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
Kumar
145. Kumar  Feb 5, 2021 20:54 I Like It. | Report Abuse Reply 0
Karvy

U r ditcher

My hard-earned money is block

Take imm action to release my shares
anantha prasad
144. anantha prasad  Jan 8, 2021 21:02 I Like It. | Report Abuse 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
Rameshwar Gaikwad
143. Rameshwar Gaikwad  Dec 5, 2020 20:20 I Like It. | Report Abuse 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.
Manisha
142. Manisha  Jan 4, 2021 15:00 I Like It. | Report Abuse 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
G.S. Krishnamurthy
141. G.S. Krishnamurthy  Sep 12, 2020 13:10 I Like It. | Report Abuse 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
Yogesh Dabholkar
141.1. Yogesh Dabholkar  Dec 3, 2020 21:21 I Like It. | Report Abuse 0
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?
Meera Kapoor
140. Meera Kapoor  Nov 26, 2020 16:32 I Like It. | Report Abuse 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.
Vivek
139. Vivek  Oct 25, 2020 10:43 I Like It. | Report Abuse Reply 0
Plz do my payout of rs 34000 and transfer my reliance dlf and pnb share
Nitin Shirsat
138. Nitin Shirsat  Jun 14, 2020 12:32 I Like It. | Report Abuse 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)
Salar khan
138.1. Salar khan  Aug 3, 2020 13:18 I Like It. | Report Abuse 0
No contact on toll free number
Probir sen
137. Probir sen  Sep 27, 2020 21:25 I Like It. | Report Abuse 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.
G.S. Krishnamurthy
136. G.S. Krishnamurthy  Sep 12, 2020 12:41 I Like It. | Report Abuse 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
Dr Ashok saraf
135. Dr Ashok saraf  Jul 29, 2020 11:44 I Like It. | Report Abuse 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
Dr Ashok saraf
134. Dr Ashok saraf  Jul 29, 2020 11:23 I Like It. | Report Abuse 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
SAURABH JAIN MEERUT
133. SAURABH JAIN MEERUT  Jul 26, 2020 14:57 I Like It. | Report Abuse 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
Amit Sankalan
132. Amit Sankalan  Jul 23, 2020 00:07 I Like It. | Report Abuse 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
M J Baby
131. M J Baby  Jul 18, 2020 18:23 I Like It. | Report Abuse 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
Sudhir Bansal
130. Sudhir Bansal  Jun 18, 2020 23:17 I Like It. | Report Abuse 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?
Harbir Singh
130.1. Harbir Singh  Jul 9, 2020 09:43 I Like It. | Report Abuse 0
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 .
Amit Kumar Bhaduri
129. Amit Kumar Bhaduri  Jun 24, 2020 18:17 I Like It. | Report Abuse 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.
Roopa Bansode
128. Roopa Bansode  Jun 23, 2020 20:28 I Like It. | Report Abuse 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.
h s shashidhara
127. h s shashidhara  Jun 19, 2020 11:17 I Like It. | Report Abuse 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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