Motilal Oswal Consumer Complaints

Motilal Oswal Detail

Incorporated in 1987, Motilal Oswal Securities Ltd. (MOSL) is a Mumbai, India based diversified financial services firm. The company offers trading services in Equity, Commodity, Currency and Derivatives. It also offers other products like Mutual Funds, IPOs, Gold, Insurance and Fixed Income products. MOSL is widely recognized for its MOAMC discretionary Portfolio Management Service (PMS). The PMS has a strong track record and consistently outperformed the benchmark across market cycles since it... Know more about Motilal Oswal

Complaint against Motilal Oswal Broker

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

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

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

Motilal Oswal Consumer Complaints

Exchange Financial Year Number of Clients   ? Total Complaints  ? %
BSE 2020-21 108,657 12 0.01%
NSE 2020-21 543,311 430 0.08%
BSE 2019-20 107,202 60 0.06%
NSE 2019-20 377,123 332 0.09%
BSE 2018-19 93,959 30 0.03%
NSE 2018-19 322,121 187 0.06%
BSE 2017-18 137,652 50 0.04%
NSE 2017-18 307,647 160 0.05%
BSE 2016-17 83,617 23 0.03%
NSE 2016-17 207,194 119 0.06%
BSE 2015-16 79,547 29 0.04%
NSE 2015-16 165,844 116 0.07%
BSE 2014-15 62,867 46 0.07%
NSE 2014-15 152,608 127 0.08%
BSE 2013-14 663,408 42 0.01%
NSE 2013-14 123,022 120 0.1%
BSE 2012-13 642,403 50 0.01%
NSE 2012-13 621,966 119 0.02%
BSE 2011-12 595,786 80 0.01%
NSE 2011-12 592,459 134 0.02%

Motilal Oswal complaint at NSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients543311377123322121
No. of complaints received *430332187
Resolved through the exchange391295169
Non actionable **2050
Advised / Opted for arbitration1110
Pending for redressal with exchange182118
No. of arbitration filed by clients15225
Decided by arbitrators in favour of the clients6203
Decided by the arbitrators251
Pending for redressal with arbitrators922
% of No. of complaints as against No. of active clients0.070.080.05
% of complaints resolved as against complaints received95.8193.6790.37

Motilal Oswal complaint at BSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year287950911492581008604
No. of active clients10865710720293959
No. of complaints received *126030
Resolved through the exchange116026
Non actionable **030
Advised / Opted for arbitration081
Pending for redressal with exchange104
No. of arbitration filed by clients010
Decided by arbitrators in favour of the clients010
Decided by the arbitrators000
Pending for redressal with arbitrators000
% of No. of complaints as against No. of active clients0.010.060.03
% of complaints resolved as against complaints received91.6710086.67

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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44 Comments

Ravindra jadhav
44. Ravindra jadhav  Apr 14, 2021 12:12 I Like It. | Report Abuse Reply 0
Dear Motilal Oswal Team,

This is the Ravindra Jadhav Code is (IB0122)

This is to inform you that we have check our statement in that the Brokerages is charge higher side how it is possible ????

As per our contract sing in that Brokerage another one but you have change it without my confirmation.

Kindly check and and refund the Brokerage today Only

The is the treatable firm but you have do this type of activity which is not acceptable.

I Hope you understand my query and resolved it by today......
Ravindra
43. Ravindra  Jan 23, 2021 23:14 I Like It. | Report Abuse Reply 0
My value pack not returning and they are asking your value back is deactivated but not giving return my money if I do mail on quary@ then they are send same reply repeated please help me and who was open my account he now leaving job from Motilal
Altaf Patel
42. Altaf Patel  Oct 23, 2020 17:09 I Like It. | Report Abuse Reply 0
I have huge difference of Rs 23000 in ledger statement and actual trade statement. I am calling/mailing and discussing with them for several months and they say to look into it but there is no resolution at all till date. They just pass me from one department to other. How can they be such unprofessional, that too with their regular customer?
mohit gulati
42.1. mohit gulati  Dec 3, 2020 15:49 I Like It. | Report Abuse 0
I am also facing the similar issue.
MOTILAL OSWAL is worst customer service provide in Market.
ASHISH UPADHYAY
41. ASHISH UPADHYAY  Nov 5, 2020 09:24 I Like It. | Report Abuse Reply 0
I AM ASHISH UPADHYAY I HAVE A DEMAT ACCOUNT WITH YOUR DEHRADUN UNIT, I HAVE FACING PROBLEM FROM LAST 03 YEAR I HAVE WENT FOR CLOSURE OF MY ACCOUNT BUT SINCE LAST 03 YEARS, BUT TILL DATE MY ACCOUNT IS NOT CLOSED AND THEY CHARGED ME AMC CHARGE OVER AND OVER EVERY YEAR, PLEASE HELP FOR CLOSED MY ACCOUNT AS SOON AS POSSIBLE AND WAIVED THE AMC CHARGES.
VARSHA k sHAH
40. VARSHA k sHAH  Oct 22, 2020 19:29 I Like It. | Report Abuse Reply 0
BAB O11



I am Varsha Keyur Shah,recently Demat a/c opened with you,several times I tried to contact i did not get satisfactory Reply Never put the client to Poper person, so Now Iam Fedup with treatmentand want to Close a/c I have paid Rs.2000/- to open a/c now at present Balance is Rs.700/- Kindly Refund the balance at the earliest
banshidhar
39. banshidhar  Oct 22, 2020 04:54 I Like It. | Report Abuse Reply 0
no 1 cheater company, maha thug
Dr ritesh motwani
38. Dr ritesh motwani  Oct 20, 2020 23:49 I Like It. | Report Abuse Reply 0
My rate of interest is 13.5 % and 20 years time but they raised by own 14.10 and 27 years of time then I was demanding for foreclosure letter they are not ready to give me and harassed me but I get it they demand 1180 rs for fore closure letter I was paid but when they were provide foreclosure letter again 1180 rs also added I asked why twice then they said it will refunded after all process
They gave me a fore closure letter to pay the amount 01 September to 30 septembers they charged me full month interest but my payment was already done at 20 september they remaining days interest will be refunded but know they are saying nothing will be refunded
That motilal oswal home finance are fraud
Nagendra singh
37. Nagendra singh  Oct 13, 2020 14:09 I Like It. | Report Abuse Reply 0
As per Aspire customer care suggestion regarding subsidy for loan a/c LANLXRAI 00117-180065067. The home electricity bill copy is send for necessary action but the subsidy is not given till date.But TPS number not received in mail yet.
RAJAT AGGARWAL
36. RAJAT AGGARWAL  Sep 18, 2020 15:04 I Like It. | Report Abuse Reply 0
VERY BAD SERVICE . I AM FACING A PROBLEM IN USING MOSTILAL SOFTWARE ,(ORION LITE ) I MADE CONTACT WITH MOTILAL CUSTOMER CARE AND THEIR LOCAL BRANCH ALSO . BUT THEY ARE DON'T RESOLVING MY PROBLEM
Hiren Shah
35. Hiren Shah  Aug 31, 2020 20:58 I Like It. | Report Abuse Reply 0
I have requested several times to my agent to close my Demat account from last 2 years. I have filled the closer form two times and submitted to my agent but still, I am getting emails from MOSL regarding the Ledger And DP Statement. Kindly do the needful and close mu Demat account.
Manmeet Singh Vig
34. Manmeet Singh Vig  Aug 3, 2020 23:00 I Like It. | Report Abuse Reply 0
Motilal Oswal has shown me as defaulter on home Loan taken in september 2019 Loan Account number 59582.I have taken property from Karrm Infrastructure and i am paying builder my montly EMI on time till march 2020.I have no bussiness with Motilal Oswal showing me as defaulter in my CIBIL when my payments were made on time to builder.i have my statement proof for the payment cleared from my bank successfully. I have written multiple email to motilal Oswal at hfquery@motilaloswal.com asking for loan details till date i have not received even single response TPS =005-532-278 . As per RTI i have the right to ask my details.Send me the disbursement loan details with my signature loan was approved.send me the copy of reminder notice sent by motilal to my address.
PRINCE PARMAR
33. PRINCE PARMAR  Aug 11, 2020 15:15 I Like It. | Report Abuse Reply 0
Client ID - EAOPE67017
I've Already Given my Documents for Account Closure and Scrips Transfer 1 Month Ago But no One is following up with it. As Per Market Fluctuations I am Facing Huge losses as my Scrip Market value is Going Down and I am Unable to Sell it as I've Already lodged Account Closure Request.
I Request You to Close My Account ASAP to Prevent Unnecessary Future losses to me.
As I've Already waited from last 1 Month after Submitting Documents, I wish that you provide no further time to wait.
I Also Received Call from Person Named ABDUL SHAIKH and he Kept saying all the time that the Account Closure is already Processed.
But It is not yet.
I also received Final Email from your side on 25th July, indicating the Transfer is already processed and Will be done Within T + 7. but already 15 days have been passed.
Why All are Saying Lies.
Rajesh Jadhav
32. Rajesh Jadhav  Jun 22, 2020 21:42 I Like It. | Report Abuse Reply 0
Dear sir ,
      I was trade with motilal oswal software since six years I want to resister complaint against your software
which have problem on the date of 30.04.2020 due to this I have lost my all money one day before
I have balance Rs.15000 in my account and at the day end of 30.04.2020 I have hold the Apollo tyre 795
share which cost of Rs 77877 how system accept this this I don't know , how possible to by it and hold that qty.
Your executive told me on that there was some system problem we will settle this In next trading
session mean while Miss Vaishalii call me on Saturdays and told me you have Tata motors 47 stock
which I can't see in my account will square off by her on Monday she told me she will call mi on Monday morning.
On Monday I wait for her call but on Monday market goes down I do exit from my Apollo tyre position
My net position shows Rs -66000 balance but when at day end I check how they do this I can't understand.
Then call number of times but each time your executive told me on that day there is system problem they will resolve very soon.
Next day I have remain account balance only Rs 940 and executive told me after settlement this is your balance and I have to accept this. Sir I accept I was do number of trade on that day but I was not hold any stock in my account that day .
Sir how I accept this I request you to check my account details and take necessary action to get my money back.
Thanks
Regards
Rajesh Jadhav
CYS030

Favaz
31. Favaz  Jun 15, 2020 10:13 I Like It. | Report Abuse Reply 0
I have Ac with ur co. Since i had not used any time. It was free opening demat Ac. But ur co. Had taken 999/- from my Ac. I want close my Ac. N want my 999/- back withen a weak . Etherwise i wl do future ..........
Sreedhara
30. Sreedhara  Apr 18, 2020 03:49 I Like It. | Report Abuse Reply 0
I couldnt believe that people who should keep trust are the ones misusing it. At MOFSL its all shady deals. The shares are not deposited on time in DP. They short sell your shares and make it go to auction. Platform is very bad, TGS is a money making guide and also to help few traders. The modus operandi is to get clients to trade more and then interfere with every aspect from charges to mis use of purchased shares for other purpose like using as collateral for margins etc. Motilal is also barred from NSEL for similar cheating activities there as well. Their trader Shakshi short sold my share and then auction fees which will never be sent as full statement. In the name of support, tgeir 100s of executives are scouting for money making opportunity. They make huge money within a short span through these activites and never care for long term association. It took 15 days and a persistent fight to get my shares back i purchased into DP. People unabatedly habdle clients account as their own. Inspite of having one of the biggest brokerage charge they arent satisfied of money.
I am sure a day will come when finally the regulator like Sebi will stop failing the unsuspecting investors in these companies. Sebi is solely for this purpose but is failing at many place to arrest such issues. I am sure one day it will fail miserably than Yes bank unless the companies vision and mission are altered. There is such a huge difference between zerodha, a fantastic low brokerage firm and mofsl, a huge brokerage company. They therefore are not interested in providing a good platform to client(to sell tgs), and even tgs is terribly gullying software.
Wake up before its too late and put house in order.
Regards
Vikash Saxena
29. Vikash Saxena  Nov 23, 2019 17:01 I Like It. | Report Abuse Reply 0
Dear Sir/Madam, I have trading account in your company and  I am not trading last one year but RM called me on 19.11.2019 and ask for trading with currency market  . I told several time that I am not interested in trading but your reprensitive Mr. Sreyash again and again compel me that " please trust me you will get profit . but he made lost my money Rs. 33000 in one day.Please take appropriate action against him and refund my money, Otherwise I have to complaint to SEBI.

Thanks and Regards
Vikash Saxena
Jai kumar dugar
29.1. Jai kumar dugar  Apr 18, 2020 02:21 I Like It. | Report Abuse 0
Dear Sir/Madam, I have trading account in your company and I am not trading last one year but RM called me on 14.11.2019 and ask for trading with bank Nifty option c market . I told several time that I am not interested in trading but your reprensitive Mr. Sreyash again and again compel me that " please trust me you will get profit . He is not tell the stop loss price and he had committed he will take care the position. but he made lost my money Rs. 33600 in one day.

After that i complaint motilal oswal team Mr Jay Bothra He had checked audio Recording and he found that mistake did by Shreyas but he is not do action and now again they transfered my account to Miss Kruti Joshi

She knows the matter but no body take a action .
Even i humble request to Every one who read my blog please give advice.

Please take appropriate action against him and refund my money, Otherwise I have to complaint to SEBI.

Cliend Code - EAOPE11134
Name - Jai kumar dugar
Gayatri Minj
28. Gayatri Minj  Apr 7, 2020 16:00 I Like It. | Report Abuse Reply 0
Will I get my problem solved .
No reply but there are movements in my profile without my consent since I lodged this complaint
Gayatri Minj
27. Gayatri Minj  Apr 1, 2020 07:00 I Like It. | Report Abuse Reply 0
Sir
I 've investment in your Ace products .....
But without my consent there is 're shuffling of the products....
Since I 've gone into great loss ...for sometime I want to witdraw all my investment and cud back wen market is stable...
Banwari lal
26. Banwari lal  Mar 15, 2020 14:42 I Like It. | Report Abuse Reply 0
Dear sir meri adviser akshita Gupta hain ounhone to pehle mujhey tgs service lgane ko bola ki tgs se Aap kabhi loss me ni jaoge , or jab mujhey 18000 ka loss ho gaaya to Mene bola ki tgs service band kro to Ab bolti hain ki band ni hogi...... Pls help me keise band krwaooo tgs service ko Ab Maine ounhe bahoot call kiye mail b bhejna PR koi fayda ni hkoaa

Srimathi
25. Srimathi  Jan 22, 2020 09:21 I Like It. | Report Abuse Reply 0
Motilal Oswal inappropriately traded Futures/Options without my consent and my entire wealth was eroded in a day when I had ACE portfolio maintained with Motilal Oswal. I plan to take legal action against Motilal Oswal for treating my wealth as their wealth and play around with that without taking any care and acted NOT in good faith to their customer








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