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KARVY STOCK BROKING LTD Complaints

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Complaint against KARVY STOCK BROKING LTD Broker

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

These complaints are serious grievances against KARVY STOCK BROKING LTD broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The KARVY STOCK BROKING LTD complaint no. report also provides KARVY STOCK BROKING LTD’s number of active clients. This shows the growth of the broker year on year.

KARVY STOCK BROKING LTD Complaints

Exchange	Financial Year	Total Complaints	Active Clients
BSE	2020-21	197	36,901
NSE	2020-21	4798	2,064
BSE	2019-20	458	36,503
NSE	2019-20	7443	243,256
BSE	2018-19	36	39,838
NSE	2018-19	241	268,272
BSE	2017-18	50	77,702
NSE	2017-18	225	244,753
BSE	2016-17	25	52,545
NSE	2016-17	150	181,384
BSE	2015-16	38	37,334
NSE	2015-16	191	166,923
BSE	2014-15	31	26,284
NSE	2014-15	173	172,489
BSE	2013-14	29	518,521
NSE	2013-14	113	126,308
BSE	2012-13	40	464,143
NSE	2012-13	114	555,326
BSE	2011-12	77	427,708
NSE	2011-12	142	580,994

KARVY STOCK BROKING LTD complaint at NSE

	2020-21	2019-20	2018-19
Active Clients	2064	243256	268272
Complaints	4798	7443	241
Resolved through the exchange	184	825	230
Non actionable	20	50	0
Advised / Opted for arbitration	0	3	0
Pending for redressal with exchange	4594	6565	11
No. of arbitration filed by clients		6	10
Decided by arbitrators in favour of the clients		5	10
Decided by the arbitrators		4	7
Pending for redressal with arbitrators		1	0

KARVY STOCK BROKING LTD complaint at BSE

	2020-21	2019-20	2018-19
Active Clients	36901	36503	39838
Complaints	197	458	36
Resolved through the exchange	28	77	32
Non actionable	0	302	0
Advised / Opted for arbitration	0	4	4
Pending for redressal with exchange	169	381	4
No. of arbitration filed by clients	0	0	0
Decided by arbitrators in favour of the clients	0	0	0
Decided by the arbitrators	0	0	0
Pending for redressal with arbitrators	0	0	0

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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150 Comments

30. Y.RANGA KUMAR

| Link|November 15, 2019 9:53:38 AMReply

Karvy is cheating the investors to repay the payout amount to the traders. customercare not attending the calls,not giving response to their financial irregularities.Today also I have claimed my amount.Why nobody is taking responsibility to save the intrest of traders.why indian investigating agencies are so silent and supine.Who will be held responsible for Karvy's cheating and fradulent activities.Why SEBI is inactive to initiate action against KARVY.

29. Madhusmita sahoo

| Link|November 15, 2019 6:56:45 AMReply

My client id is a45031480 and request for my payout request regularly since last one month but payout is not mady every time they cancelled the same not reply my mail ,customer care not pick up phone, what happen why you block our money who will responsible for it who will pay the interest for is ,are not you diverting our money for other purpose

28. Abishek

| Link|November 14, 2019 11:11:24 PMReply

It's been more than 3 weeks, but yet to receive payout we requested via App, mail, phone , web... But still they reject each days. Even mails go unattended and the calls are just ignored

Not sure what they are upto.. it a big fraud in making.. we have a very big fund blocked with Karvy and require those amount on urgent basism

27. Subrat Dash

| Link|November 14, 2019 11:09:18 PMReply

I am trying everyday for payout of Rs 57000, calling karvy offices, writing e-mails to service@karvy.com. No response from karvy.
One of the executive informed me that there are some kind of audit going on, and the delay in payout will continue, do not know how long. What is this going one. Is this another kind of fraud ?? Even after buying shares before one month, all shares are not showing in demat account, dividend is coming only for part quantity. In between Karvy is doing something wrong without knowledge of investors.

26. Y.RANGA KUMAR

| Link|November 14, 2019 10:58:38 AMReply

My trading karvy acc was 650013.since one week I am claiming for my elegible pay out amount.But karvy failed to repay my amount.Nobody is taking any action against the karvy to save the investor.Today also I have claimed for 68,612Rs payout elegible amount.So sebi should take the responsibility to save the investor from karvy otherwise will loose faith on stock market

25. Sudhir Mishra

| Link|November 14, 2019 12:39:56 AMReply

Client ID 1109636
Worst ever service by Karvy. Blady you have to bag your money from these basxxxx. From last 2 months I am calling them, writting them for my 2.49 lakhs payout. They just passed debit entry to my account and same is not received in my Bank account.
Local Area / Branch manager, call center are afraid and avoiding phone calls. First they are either not picking phone or even if they pick they put on hold and than disconnect.
No revert is from service id, complaint id or compliance id.
I need suggestion to deal with this fraud company.

24. Janardhan

| Link|November 12, 2019 10:14:24 AMReply

I have process payout from my demat to bank bank one week before but still not received money in my bank account and i have raised the complain to service@karvy.com but not received any response. My i know why you not pay me my money??

23. Mahendra Kumar Rai

| Link|November 9, 2019 8:26:46 PMReply

Payout request being cancelled by Karvy continuously and they are not crediting the account .

23.1. gaurav

| Link|November 11, 2019 8:10:55 PM

payout nhi aa rha h karvy se.. any fraud??????? like unicon

22. vikas

| Link|October 9, 2018 9:51:19 AMReply

They are very rude to customer and never give a right feedback am waiting for my payout last 5 days and still they told to wait.
other companies are giving payout very next day.....................no positive response of complaint

22.1. Aparna

| Link|May 9, 2019 8:33:39 AM

Yes they are very rude. My payout transaction (on 2nd May) is yet not transfer to my bank account, i am waiting for last 7 days. No proper response from karvy. Very disappointing service.

21. Dump Madhusudhan Rao

| Link|November 9, 2019 6:05:07 AMReply

I am doing PayOut for last 10 days but it not got success . If i am calling customer care they also not telling proper reason and not helping me from last 10 days. I am calling so many people of karvay .It's emergency because of that I was sold out my shares why people are doing like that i am not understanding. Is there any fraud is going on karvay or what

Even Relationship manager also not picking my call. I am sure there is fraud is going karvay.

20. Anup Durugkar

| Link|November 8, 2019 7:57:16 PMReply

F6120002
Ethics welth nagpur, francise of Karvey share trading is like a dalal type of company, their employees are doing trading without your permission.. Karvey employees (sunil jenekar) also involve in that matter. After few days you reaceived a document of closing the complaint, karvey employee also involve for iligle activity.

19. Y.RANGA KUMAR

| Link|November 8, 2019 10:02:27 AMReply

My acc no 650013.Since four days I am claiming my elegible payout amount but karvy did not depositing amount in my bank account.Eventhough I am maintaining balance my trading acc they not allowing me to trade.Everyday they are showing trading limit not allowing to trade even single price excess than the amount shown in my acc.Finally I request karvy sanction me pay out clain in my acc without fail

18. FATHIMA

| Link|November 6, 2019 5:41:02 PMReply

more than one week am iniating PAYOUT REQUEST threw app debit the account and same reverse next day.it means they block the fund but not processing, even am senting 100 mails no response..you know one thing last week sold share less profit margin bcz of sister marraige unfortunatly every day they are making delay i dont know wat to do .....

17. Raj Kumar Wadhwa

| Link|November 5, 2019 11:48:58 AMReply

Despite pay out on 23.10.2019, 25.10.2019 and 05.11.2019 payment is not received by me despite various e mails and telephonic conversations. I am badly in need of money for medical treatment.

16. Middela ramesh

| Link|November 3, 2019 3:13:55 PMReply

Iam Middela Ramesh bearing an account id:A230006370.I have sold my shares worth of Rs 25540 on 23/10/2019.I have requested payout for the same amount but my request is rejected not just once but thrice.whenever I called to customer care they will transfer my call to person who doesn't have any knowledge on payout.before rejection you must have said reason for rejection and when exactly money will be credited.but in my case non of them had happened.please take this as priority and do needful ASAP.

15. Col Anil Mathur

| Link|October 25, 2019 1:44:18 PMReply

We have sold our shares on 26/9/2019 and have requested for a payout but the same has not been received in the bank even after a month. Repeated calls and reminders on a daily basis has only made them give lame excuses that they've given instructions for payout. We are unable to get our money in our account and want to know whom to approach for the needful.

14. Surender

| Link|October 23, 2019 11:09:30 AMReply

This brokerage firm is a big fraud. They do all they can to hold back customers payout. I have a NRI Demat account with them and they are holding back quite a bit of my money in the name of TDS. It's as simple as deduct the TDS and pay the rest. However they just sit on it for ever to delay the payment as much as possible so that they can make money out of it. There is one Ms. Chama Agarwal Manager-NRI Business, who is such a pain to deal with, doesn't understand how their system works and is worst possible customer service manager you could ever think of . She has a habit of covering up things.When she messes up she just keeps quit and does,'t have the basic courtesy to acknowledge her mistake. I am following up on my payout email with her for close to 3 weeks. I sent her several emails but she hasn't responded back to me since 10/10/2019. I expect SEBI to take severe action against this brokerage firm, which seems to be famous for holding back customers funds.

13. J.c.pathak

| Link|October 19, 2019 12:14:53 PMReply

I sold my shares on 11th oct but karvy doesnt pay out it in my saving acount

12. Reena chauhan

| Link|October 4, 2019 3:21:28 PMReply

i transfered amt in karvy a/c on 3/10/2019,24hrs past it dosent reflected in my a/c ,poor service of karvy,i m a banker and enquired about my amt ,one of my friend is in the same bank at which i transfered the amt confirmed that the amt is received in the a/c bt from their side no response,want to close my a/c.now i want my amt with intrest.

11. Nirmal

| Link|October 3, 2019 9:54:23 AMReply

Karvy is not making Payouts, without any reason every morning they debit the amount to payout and next morning the amount shows again in demat account....such a fraud company never ever go for Demat account with it...i am looking forward to fir against in local police station...