I had opened a demat & trading account with Apollo Sindhoori Capital Investments in December 2006 at the New Thipasandra centre, Bangalore. I was told that only a fee of Rs.25/- would be charged per month & brokerage would be extra as & when applicable. They took more than a month to open the account. I bought a few shares for which brokerage was charged with every transaction.
Their recommendations were most pathetic & ended in loss! After six months I got an invoice asking me to pay around Rs.500/- I questioned the manager at Thipasandra centre, as there was already a balance of Rs.300 kept earlier in the account towards demat charges, why this new fee of additional 500 was for & requested for clarity of the same & a consolidated statement of Accounts. But nothing came along, but I paid them the cheque & didn’t trade for a while.
In December 2007, another invoice came in.... The manager was very very indifferent & gave vague reasons that it comes from the head office & he doesn’t know. I paid up the amount & decided to close the account. I opened another trading account & asked these guys to transfer my present holdings into the new one. They made me go to their office thrice, saying the first challan I signed on was the not the correct one, that they
needed a fee of 350/- to carry out the transfer, & finally they said the
transfer challan was rejected by their head office. It was mentally harassing
& I asked them to sell all my holdings(at loss!), deduct all outstanding
amount & close their pathetic account for good. They sold the holdings &
transferred the amount due to me after 4 working days. A week later the man
called me, asking for a cheque of Rs.500/- saying pending charges! I asked for
clarity as on for what these charges were, for which he is unable to give any
clear explanation.
I even wrote to their helpdesk about it, but no reply! The
man from the New Thipasandra centre, Bangalore has been calling & mentally
harassing me every now & then demanding some amount & says the amount is
adding up with interest. Can I report somewhere to this kind of fraudulent
Greedy Pigs?