Motilal oswal has done many transactions from my account ith my permission. When got this tot heir notice , investigation happened and then they said they will pay for the loss and now they say we cannot to anything.
So, please be extremely careful with the motilal securities:
- They pay their staff based on the transactions they make.
Hence staff makes transactions without the customers consent so as to reach the monthly targets.
They do not maintain proper records of the communications with customer which is very important to resolve such issues.
The motilal office does not hold it responsible for the illegal transactions made by its franchise. It only takes money from franchise to lend its brand name. Any issues with the franchise will not be under the purview of motilla. (or atleast that is what they say!). So, guys please be extremely careful with these people !
NOTE: Wikipedia says that most number of disputes (within India) in the trading/ brokerage firm category is on motilal !So be etremely careful