My father Mr.Udaya Shankar had opened securities account when we were at Anantapur, Andhra Pradesh. Later we shifted to Hyderabad.
My father used to do trading through a person called Rameshwar Reddy. As long as my father was doing business with him, everything was fine. Last year August, my father expired. When we called Rameshwar Reddy and told him that my father expired, he immediately said - "Ok no problem, my junior Mr.Khadar will take care of rest of the matter" - and cut the call.
The great HDFC Securities cares about their customers only as long as they are alive. Later they don’t take care of transfer of assets to the nominee of deceased. This bloody fellow Khadar called us and with the help of their branch manager Ravi, misguided us for the next procedure. Instead of referring the matter to Mumbai head office, he said he will sell all shares and transfer the money to my dad’s savings account.
In the meantime, the useless branch manager Ravi had tricked my mother to open an insurance of 1 lakh per year. He said that giving business to HDFC will make the transfer of money from securities to saving account faster. My mother transfered 1 lakh and got insurance done.
After insurance was done, this thief Khadar sold all shares and transfered money to savings account. But the Mumbai head office freezed the saving account citing the reason that transactions happened in account after client’s death. It was then that we approched HDFC Securities branch at Hyderabad for clarification. That branch people gave us clear picture and then helped us.
All together, we had to get notaries done, affidavits etc giving clarification to Mumbai branch that we did not do the transactions, but it was Khadar and Ravi who did it. The great Mumbai head office, took 2 months to process everything. It took total 5 months for us to get our father’s money out of their clutches.
End of the day, Mumbai branch did not take any action against Khadar or Ravi. HDFC main branch managers are encouraging this fraud behaviour. Shame on HDFC.
I am sharing the screenshots of my chat with Khadar. Once they cheat customers, they won’t even pick our calls. My sinncere request to everyone, not to do business with HDFC Securities. They are unethical thieves. Especially there is a lady in Anantapur branch who takes advantage of people and tricks them to do policies.
Be aware of Anantapur HDFC Securities branch. Mumbai head office is encouraging these thieves.