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 2019-20 36,743 209
NSE 2019-20 255,684 6540
BSE 2018-19 39,838 36
NSE 2018-19 268,272 241
BSE 2017-18 77,702 50
NSE 2017-18 244,753 225
BSE 2016-17 52,545 25
NSE 2016-17 181,384 150
BSE 2015-16 37,334 38
NSE 2015-16 166,923 191
BSE 2014-15 26,284 31
NSE 2014-15 172,489 173
BSE 2013-14 518,521 29
NSE 2013-14 126,308 113
BSE 2012-13 464,143 40
NSE 2012-13 555,326 114
BSE 2011-12 427,708 77
NSE 2011-12 580,994 142

Karvy complaint at NSE

2019-202018-192017-18
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients255684268272244753
No. of complaints received *6540241225
Resolved through the exchange461230224
Non actionable **2600
Advised / Opted for arbitration001
Pending for redressal with exchange6053110
No. of arbitration filed by clients61026
Decided by arbitrators in favour of the clients51017
Decided by the arbitrators379
Pending for redressal with arbitrators109
% of No. of complaints as against No. of active clients2.550.080.09
% of complaints resolved as against complaints received7.4495.43100

Karvy complaint at BSE

2019-202018-192017-18
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year2061028859806756160
No. of active clients367433983877702
No. of complaints received *2093650
Resolved through the exchange473248
Non actionable **11800
Advised / Opted for arbitration443
Pending for redressal with exchange16244
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 clients0.570.090.06
% of complaints resolved as against complaints received22.4988.8996

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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109 Comments

M k rai
109. M k rai  Jan 14, 2020 16:39 I Like It. 3 | I Don't Like It. 2 | Report Abuse Reply
Large number of customers of Karvy are suffering . SEBI is not taking any decisions on the matter. Karvy is writing mail that SEBI has temporarily banned all their activities. So they are not paying money or transferring the shares . Main culprit is SEBI .
Ram Babu Tripathi
109.1. Ram Babu Tripathi  Jan 18, 2020 20:11 I Like It. | I Don't Like It. | Report Abuse
My name is Ram Babu Tripathi. I have a trading account in KSBL. My trading account no.2732309. I have sale out my shares. My pay out of Rs.115469.25 is outstanding since last two- three months. At present no contact is possible on the no.s of Karvy offices. Please look seriously the matter. So that my pay out could be issued.
Sri
109.2. Sri  Mar 25, 2020 11:27 I Like It. | I Don't Like It. | Report Abuse
The culprit is KARVY there is no staff in office. Only one person was alloted to look up shares and the other is on leavewhen I visited the office. They informed to submit CML copy issued by new trading broker to transfer shares to the new account from Karvy account. But even after submitting my shares were not transferred. Reason could be the only one person staff is on leave due to COVID19 lockdown. I stay 5 kms from the office and even my shares and fund are not transferred to the new account till now. No one to complaint only SEBI but it could be too late.
vamsi krishna
108. vamsi krishna  Mar 24, 2020 12:37 I Like It. | I Don't Like It. | Report Abuse Reply
Dear karvy,
i have requested for pay out of 480000.till now with repeated requests problem not solved. karvy please look into the matter and kindly transfer the amount and transfer my shares to DIS.please respond
AKSHATA PARKAR
107. AKSHATA PARKAR  Mar 20, 2020 14:20 I Like It. | I Don't Like It. | Report Abuse Reply
Respected sir/maam,
I have requested to transfer my reliance insdustrial limmited share on 13th Feb 2020 to my demat account of saraswat bank holding the CLIENT ID- 12059168.
Till date the above said share is not transfered to my demat account saraswat bank , santacruz east.

my karvy stock broking ltd CLIENT ID 18916987

TRANSFER MY SHARES AA EARLY AS POSSIBLE TI MY SARASWAT DEMAT ACCOUNT
PLZZ CALL ME OR MAIL ME
Sunil Kumar aggarwal
106. Sunil Kumar aggarwal  Mar 1, 2020 12:04 I Like It. | I Don't Like It. | Report Abuse Reply
Dear sir,
I have applied for DIS on 18/01/2020 for demat account number 1622084. On enquiry from your office at New Rajinder nagar new dehi on 08/02/2020 I was informed to submit fresh application as my previous application was not uploaded properly and hence rejected without any information to me. I submitted my fresh application same day and was informed by Mr Raman Tyagi one of your employee at New Rajinder Nagar New Delhi office that the same has been issued and dispatched by the compamy through M/s Professional Courrier on 12/02/2020. I was also given the docket number video which the DIS was despatched. On enquiring from the courrier company I was informed that there no parcel received under the docket number given to me by your employee.
Further iam to submit that even after applying for the DIS twice almost about 460days back I am yet to receive my delivery instructions book
I shall be thankful I you will let me know the fate of my application and arrange to issue Delivery Instrction Slip without any further delay

Sudhakar Joshi
106.1. Sudhakar Joshi  Mar 19, 2020 12:00 I Like It. | I Don't Like It. | Report Abuse
DELIVERY INSTRUCTION SLIPS NUMBER AA1000971216 ,AA1000971217 and AA100097218 were handed over in your Dilsuknagar Branch on 25th Feb 2020.Despite of many phone calls visits to your branch, the equity shares are not yet transferred ti ICICI BANK. please expedite the same. SUDHAKAR JOSHI TRADING ACCOUNT DIL0070. DEMAT ACCOUNT 13256092
Sudhakar Joshi
105. Sudhakar Joshi  Mar 13, 2020 13:39 I Like It. | I Don't Like It. | Report Abuse Reply
My Trading Account is DIL0070. I have submitted delivery instruction slips in your Dilsuknagar branch on 25th feb 2020.Despite of several reminders my equity shares have not been transferred ti Icici Bank till date.Please look into the matter and see that is is done at the earliest.
Nanhe B Patel
104. Nanhe B Patel  Feb 17, 2020 11:42 I Like It. | I Don't Like It. | Report Abuse Reply
Dear Karvy my Demat id is 4003107 i am try to my payout clear sow many times but still not clear, also sow many email send but not rectified my issues, kindle again my humble requite please clear my payout this is a very urgent
Pushpa
103. Pushpa  Jan 21, 2020 12:00 I Like It. | I Don't Like It. | Report Abuse Reply
My Demat a/c 233113144 in ksbl, I want to transfer my a/c to another brokerage house but lot of request karvy is not listening
Please call me.
Raju V
102. Raju V  Feb 11, 2020 16:35 I Like It. | I Don't Like It. | Report Abuse Reply
I have a demat and trading account with Karvy in the name of my mother Rugmani Venkatraman who has passed away and I am the nominee. I was following up with Mr. Pradeep in Hyderabad and Ms Sophia in Coimbatore. Former has left Karvy and latter is not picking up the call at all. Neither I have got any reply nor the issue sorted out. Where should I escalate R
M k Rai
101. M k Rai  Jan 17, 2020 19:01 I Like It. | I Don't Like It. | Report Abuse Reply
Today Karvy has started sending mails that they will pay money and it will take at least 20 to 25 days . They are using language at least , it means still it is non committal mail . That may take much more time in clearing the payment. Very difficult situation. No government agency is doing any thing. Small investors have become helpless .For getting own money we have to look towards Karvy as if they have to pay their money .
S Siva Prasad
100. S Siva Prasad  Jan 17, 2020 11:34 I Like It. | I Don't Like It. | Report Abuse Reply
Clint id 1801237 , my stock holding not transfer by D.i instruction since long time pl. transfer my new account
Mohit goyal
99. Mohit goyal  Jan 16, 2020 20:42 I Like It. | I Don't Like It. | Report Abuse Reply
Dear sir plz payout my 55619 rs my I'd 365718
Last three months i am try to solve the problem but no any one help me sebi also complaint by me it's regarding
Multan mal baid
98. Multan mal baid  Jan 14, 2020 13:16 I Like It. 2 | I Don't Like It. | Report Abuse Reply
My pay out of Rs 115000 is outstanding since last two months.At present no contact is possible either on toll free no or on any no.pl look seriously on the matter.
Rajesh Gandhi
97. Rajesh Gandhi  Jan 13, 2020 13:00 I Like It. | I Don't Like It. | Report Abuse Reply
I have 5 trading accounts with Karvy Stock Broking Limited (KSBL) and they have not transferred entire holdings to Demat accounts despite several requests. There are payout requests also pending against 3 trading accounts since the last 3 months. What should I do?
Sneha Gadiyar
96. Sneha Gadiyar  Jan 11, 2020 18:38 I Like It. 3 | I Don't Like It. | Report Abuse Reply
Sir my trading account no 131BV364 and my payout amount of RS.69018/- is pending since October 2019. I am a lady senior citizen suffering from illness and treatment expenses I pay from this income only somehow. Please release my amount immediately.
Rakesh Verma
95. Rakesh Verma  Jan 10, 2020 09:27 I Like It. | I Don't Like It. | Report Abuse Reply
Neither the shares have been transferred from pool to demat nor the payment. No reply from Karvy. My client I'd 19608711.Requested several times for payment but not received. The shares are also not been transferred to my demat account.
Mkrai
94. Mkrai  Jan 8, 2020 20:39 I Like It. | I Don't Like It. | Report Abuse Reply
Really never seen such a situation where lacs of customers have been helpless . Karvy is not paying customers money and we are not able to do any thing. SEBI and NSDL are helping KARVY only . Now there is no safeguard for small investors in this country. The directors of Karvy are enjoying at least they should have been behind the bar by the time.
Devinder Kumar Khosla
94.1. Devinder Kumar Khosla  Jan 10, 2020 04:32 I Like It. | I Don't Like It. | Report Abuse
I am an small investor and have trading account and demat account with Karvy stock broking Ltd.Most of the shares are kept in pool. They have not yet transferred the pool' s shares to my demat account event after the repeated requests. I have complaint to Karvy, Sebi and NSDL about this problem.The issue is not yet resolved. The Govt or its agencies must help the small investors on an early date. Karvy a/c 186885. PAN ABOPK6358G.
Paresh Chauhan
93. Paresh Chauhan  Jan 5, 2020 18:25 I Like It. | I Don't Like It. | Report Abuse Reply
I had Rs 574000 in my trading account as margin for future trading. As per my broker advice, I purchased shares of SBI for money instead of keeping cash in pool. The shares has not been transferred in my CDSL account even after one month. I have complained to Karvy, then NSE and then SEBI. but issue is not resolved till date. Instead of making focus on Ram Mandir / CAA / NRC, government should focus more on small investor protection. We are not getting any response from any government agency. Ram Jane, when will we get our money :(
Shubha Malagannavar
92. Shubha Malagannavar  Jan 3, 2020 15:45 I Like It. | I Don't Like It. | Report Abuse Reply
Karvy fraud has been open to all now for more than month and half.Sebi has to take whole responsibility of transferring shares at the first step and then cash transfer.
RAJESH B
91. RAJESH B  Jan 3, 2020 11:23 I Like It. | I Don't Like It. | Report Abuse Reply
I too am waiting for karvy Payout
Why every one is keeping quiet
I think we need to fight our case
Else this fraud will end in we loosing money
Rakesh Verma
90. Rakesh Verma  Jan 2, 2020 16:08 I Like It. | I Don't Like It. | Report Abuse Reply
When will karvy problem be resolved. SEBI should take strong action for complaints and resolve the problem of customers

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