Kotak Securities Consumer Complaints

Kotak Securities Ltd, a subsidiary of Kotak Mahindra Bank was founded in 1994. They offers stock broking services and distributes financial products in India. They have 1209 branches, franchisees and satellite offices offers services to 11.95 Lakh customers. They corporate members with the Bombay Stock Exchange and the National Stock Exchange. They are also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). Kotak securitie...

Complaint against Kotak Securities Broker

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

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

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

Kotak Securities Consumer Complaints

Exchange	Financial Year	Number of Clients	Total Complaints
NSE	2019-20	433,599	8
BSE	2018-19	97,102	21
NSE	2018-19	435,201	178
BSE	2017-18	167,450	35
NSE	2017-18	368,638	200
BSE	2016-17	111,297	22
NSE	2016-17	273,895	123
BSE	2015-16	104,710	32
NSE	2015-16	246,945	140
BSE	2014-15	71,018	24
NSE	2014-15	268,459	151
BSE	2013-14	789,341	38
NSE	2013-14	223,280	188
BSE	2012-13	712,313	46
NSE	2012-13	674,160	197
BSE	2011-12	625,312	85
NSE	2011-12	617,855	163

Kotak Securities 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	433599	435201	368638
No. of complaints received *	8	178	200
Resolved through the exchange	3	171	199
Non actionable **	0	0	0
Advised / Opted for arbitration	0	0	1
Pending for redressal with exchange	5	7	0
No. of arbitration filed by clients	1	5	8
Decided by arbitrators in favour of the clients	0	1	7
Decided by the arbitrators	0	0	3
Pending for redressal with arbitrators	1	4	1
% of No. of complaints as against No. of active clients	0	0.04	0.05
% of complaints resolved as against complaints received	37.5	96.06	100

Kotak Securities complaint at BSE

	2018-19	2017-18	2016-17
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year	1575943	1321327	1153321
No. of active clients	97102	167450	111297
No. of complaints received *	21	35	22
Resolved through the exchange	20	37	18
Non actionable **	0	0	0
Advised / Opted for arbitration	0	5	1
Pending for redressal with exchange	1	1	3
No. of arbitration filed by clients	1	1	1
Decided by arbitrators in favour of the clients	1	0	1
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	0.02	0.02	0.02
% of complaints resolved as against complaints received	95.24	105.71	86.36

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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5 Comments

5. Baiju Mehta May 18, 2019 16:53 Reply

Be careful from your relationship manager. Check with two stage security from their department. Never trust for TIPS on Share market. Do not allow them to invest your money on your behalf. Kotak has no grievance cell or department. They are very liberal in fraud case. They are very soft towards culprit. Take care about your money.

4. A Peter May 16, 2019 14:07 Reply

My faith in Kotak Securities is getting eroded due to some of my experiences. I want to understand the security system in Kotak securities. How safe is our money, and what are the systems in place so that someone (insider) will not able to siphon off our money and investment? what are the checks? Are they foolproof?

This is not for public consumption.

If any responsible person in the company can explain to me by phone or email it would be useful

3. Rajan Mehrotra Jan 10, 2019 07:51 Reply

I forgot my password for login online to trading account. normally it should have been generated online. But Kotak Securities have in the name of providing better service have revamped the system and and now provided on hard copy mail which should take 4 to 5 days to reach you. That means one is blocked from operating the account for these many days. Additionally they have started a whatsapp chat to provide help to client. All useless fellows who do not have any discreation and also do not provide and escalation matrix to clients. Better to opt out from this and have an account safely with other trading platform. In all they are cheating their own clients.

2. Garima Sep 7, 2018 23:02 Reply

Hello All,

I have an a/c in Kotak Bank & Kotak Securities, with the name Garima Baheti, but they are depreciating funds from my account, & kotak securities. Their salesman committed that it will be a "0" balance account and no charges will be deducted, but they deducted amount from my account, then I went to Kotak Bank, then they committed they will revert back the amount. But I haven't received till yet.

Then now they are asking to pay Kotak securities few charges, I really dont know what are the charges they are asking me to pay. I called them, they said I will they said Sms charges and several other charges. I have never availed these services. They are simply adding more and more accounts and charging extra cheese from all the accounts.

Please beware of them, and dont go for Kotak Bank account anymore.

Best Regards,
Garima Baheti

2.1. Nithin Sep 15, 2018 16:15

My Acount also without permission taken 1176
Stil nt getting ma. Amount...
I wl waite... One day.... I wl so... U.... Who I am....

1. Jigar Pandya Jun 15, 2018 18:42 Reply

Beare Kotak securities KOTAK FIT account is not free they are cheating and became worst, I have opened KOTAK FIT account and suddenly one day they charged me INR 5900 brokerage .

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Kotak Securities Consumer Complaints

Complaint against Kotak Securities Broker

Kotak Securities Consumer Complaints

Kotak Securities complaint at NSE

Kotak Securities complaint at BSE

Contact Kotak Securities

5 Comments

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