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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	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

	2019-20	2018-19	2017-18
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year
No. of active clients	255684	268272	244753
No. of complaints received *	6540	241	225
Resolved through the exchange	461	230	224
Non actionable **	26	0	0
Advised / Opted for arbitration	0	0	1
Pending for redressal with exchange	6053	11	0
No. of arbitration filed by clients	6	10	26
Decided by arbitrators in favour of the clients	5	10	17
Decided by the arbitrators	3	7	9
Pending for redressal with arbitrators	1	0	9
% of No. of complaints as against No. of active clients	2.55	0.08	0.09
% of complaints resolved as against complaints received	7.44	95.43	100

Karvy complaint at BSE

	2019-20	2018-19	2017-18
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year	2061028	859806	756160
No. of active clients	36743	39838	77702
No. of complaints received *	209	36	50
Resolved through the exchange	47	32	48
Non actionable **	118	0	0
Advised / Opted for arbitration	4	4	3
Pending for redressal with exchange	162	4	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	0.57	0.09	0.06
% of complaints resolved as against complaints received	22.49	88.89	96

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

109. M k rai Jan 14, 2020 16:39

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2 |

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 .

109.1. Ram Babu Tripathi Jan 18, 2020 20:11

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.

109.2. Sri Mar 25, 2020 11:27

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.

108. vamsi krishna Mar 24, 2020 12:37

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

107. AKSHATA PARKAR Mar 20, 2020 14:20

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

106. Sunil Kumar aggarwal Mar 1, 2020 12:04

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

106.1. Sudhakar Joshi Mar 19, 2020 12:00

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

105. Sudhakar Joshi Mar 13, 2020 13:39

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.

104. Nanhe B Patel Feb 17, 2020 11:42

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

103. Pushpa Jan 21, 2020 12:00

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.

102. Raju V Feb 11, 2020 16:35

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

101. M k Rai Jan 17, 2020 19:01

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 .

100. S Siva Prasad Jan 17, 2020 11:34

Clint id 1801237 , my stock holding not transfer by D.i instruction since long time pl. transfer my new account

99. Mohit goyal Jan 16, 2020 20:42

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

98. Multan mal baid Jan 14, 2020 13:16

2 |

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.

97. Rajesh Gandhi Jan 13, 2020 13:00

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?

96. Sneha Gadiyar Jan 11, 2020 18:38

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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.

95. Rakesh Verma Jan 10, 2020 09:27

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.

94. Mkrai Jan 8, 2020 20:39

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.

94.1. Devinder Kumar Khosla Jan 10, 2020 04:32

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.

93. Paresh Chauhan Jan 5, 2020 18:25

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 :(

92. Shubha Malagannavar Jan 3, 2020 15:45

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.

91. RAJESH B Jan 3, 2020 11:23

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

90. Rakesh Verma Jan 2, 2020 16:08

When will karvy problem be resolved. SEBI should take strong action for complaints and resolve the problem of customers

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Karvy Consumer Complaints

Complaint against Karvy Broker

Karvy Consumer Complaints

Karvy complaint at NSE

Karvy complaint at BSE

Contact Karvy

109 Comments

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