Religare Securities - Religare:- unauthgorised access to a/c and bad Response
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Complaint by: Mukesh on March 30, 2011, 1:36 am in Banking and Finance

1. First Mail I sent:
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From: xxxx@gmail.com(Privacy)
Sent: 11/02/2011 10:32 AM
To: wecare@religareonline.com, igreligare@religare.in
CC:
Subject: Refid: Rel-4826359 MT1941: Trading without my confirmation.

Hi,

Product: RALLYLITE
Trading User ID: MT1941

Dealer Name: Jayamma J (Only on papers)
Actual dealer information:-
Shobha Bai (T: 080-40595888/11/12/13 |Fax:+91 -120 -1111111)
Religare Securities Ltd, # 5 Mathrushree Arcade 100 Ft Ring Road BTM Lyt Bangalore-76


Bought the 25 shares of Reliance capital in 584 per share on 25-Jan-2011, and my margin was 5k, hence there was some amount due from my end, so I have given the cheque (No. 758641, Dated: 05-Feb-2011) of 10k for the same.

On 9-Feb-2011, I came to know that all 25 shares were sold out at value of 401.4 per share and there were no call/confirmation from my dealer's end regarding the same. After receiving the SMS from Religare when I called back my dealer's mobile no. (XXXXXX) she replied that this happened as a mistake and next day she will settle everything.

Next day (10-Feb-2011) I didn't received any call from my dealer so I called her (0********13) in morning and asked for the updates, she said she will settle everything and call me back, again I didn't received the call from her end, hence I again called her in afternoon and asked for updates, she replied "I will consolidate everything and send it to you".
BUT WHOLE DAY NO MAIL OR CALL FROM HER END AND in THE EVENING AROUND 5:15 PERSON CALLED and SAID YOU BOUGHT THE RELIANCE CAPITAL 25 SHARES in 429 per share.

For now I have stopped the payment of above mentioned cheque till the final settlement.
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2. REPLY FROM RELIGARE
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wecare@religareonline.com Fri, Feb 25, 2011 at 3:00 PM
To: xxxxxxxx@gmail.com (Privacy)

Dear Mr. Tomar,

This is in reference to your below mentioned email.

We would like to inform you that on February 9, 2011 below positions have been liquidated by Risk Management cell due to margin shortfall in your trading account and intimation of same was also given to you in due course.

Please feel free to mail us at wecare@religareonline.com (Kindly, do not change the subject line to allow us to track the matter. However, if you wish to write to us on a new/different matter please use an appropriate subject line) or speak with us on the Client Services helpline number-1860-25-88888 in order to help us serve you in the best possible way.

We value your Relationship with Religare.

Regards,
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REPLY FROM MY END
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xxxxxx@gmail.com (Privacy) Sat, Feb 26, 2011 at 12:58 AM
To: "wecare@religareonline.com"
Please READ the mail again reply back to the complete mail.
1. Cheque No. 758641, Dated: 05-Feb-2011, what you were doing with the cheque till 09-Feb-2011?
2. What about 10-Feb-2011 trading?

REPLY BACK ASAP.
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AGAIN MAIL FROM MY END
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xxxxxxx@gmail.com> (Privacy) Mon, Mar 7, 2011 at 11:41 AM
To: "wecare@religareonline.com"
After having so many one way communications (only from my end, religare never called me back regarding this issue.), I realized its my mistake that I opened account with religare, so finally I decided to close my account.

Attached is the extract from my last month's mobile bill.(Calls to religare.)

Suggestion: "wecare" should hire employee with at least some common sense, look at the reply below which I got after so many day, that to its not complete reply. Looks like the person replied didn't read my mail.

REPLY FROM RELIGARE
------------------------------
wecare@religareonline.com Fri, Mar 11, 2011 at 11:28 AM
To: xxxxxx@gmail.com>
Dear Mr. Tomar,

This is in reference to your below mentioned email.

We would like to inform you that the matter has been taken up at the local Religare branch As confirmed Ms. Shobha Bai has contacted you to address your concerns.

Please feel free to mail us at wecare@religareonline.com (Kindly, do not change the subject line to allow us to track the matter. However, if you wish to write to us on a new/different matter please use an appropriate subject line) or speak with us on the Client Services helpline number-1860-25-88888 in order to help us serve you in the best possible way.

We value your Relationship with Religare.

Regards,

Religare Relationship Team
====================
MAIL FROM MY END
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xxxxxx@gmail.com> Fri, Mar 11, 2011 at 12:19 PM
To: "wecare@religareonline.com"
Dear,

Not only Ms. Shobha Bai, Mr. Sunder Raj (Claiming himself to be Karnataka head) also wake up after one month.

Its just after all my frustration and no results/answers from Religare, when I decided to quite and close my account.
I gave in written that issue is resolved (That was the only option left to close my account).

Mr. Sunder realized that now it is safe to show his Management Skills (as he don't need to pay anything). When I asked who will bear the loss as I have lost all my 5500 + Mobile bill charges. Unfortunately all his skills failed and he said its good to close the account, he meant money is important not client satisfaction according to him money is more important than family (Please refer recorded conversation).
Mr. Sunder could have used his COMMON SENSE,
if religare is not even listening/responding to me than how the hell issue is resolved?
What would be the clients mental frustrations status when he want bear all his losses and close his account?
Why the hell religare is not having any answers to my questions?
What religare was doing with my cheque?
Why the hell religare is not having recording for the transactions being performed from my account, is this the way you do business?

And Yes, Shobha has resigned then Sunder is suggesting that he could have deducted the amount from her salary and got it credited it to my account.
Why the hell this was not done in past month? Or you pays salary only when the person resigns (not my concern) ?
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Complainant's Goal: Justice: Money back (Rs. 5500.00)
Complainant's Target: Religare Securities
Complaint Location: IndiaKarnatakaBangalore
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Wed, 30 Mar 2011  Message from iComplaints.in Helpdesk

An email communication has been sent to Religare Securities on March 30, 2011, 1:36 am