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Motilal Oswal Complaints

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With over 35 years of industry experience and a client base which expands to more than 50 lakhs, Motilal Oswal Financial Services Ltd. (MOFSL) has become synonymous with India's investment partner. Incorporated in the year 1987, the financial services firm offers trading services in Equity, Commodity, Currency and Derivatives. It also offers other products like Mutual Funds, IPOs, US Stocks, Gold, Insurance, Fixed Income products and readymade portfolios such as Stock Baskets, Intelligent Adviso... Know more about Motilal Oswal

Complaint against Motilal Oswal Broker

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

These complaints are serious grievances against Motilal Oswal broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Motilal Oswal complaint no. report also provides Motilal Oswal’s number of active clients. This shows the growth of the broker year on year.

Motilal Oswal Complaints

Exchange Financial Year Total Complaints Active Clients
NSE 2024-25 129 958,025
BSE 2023-24 99 485,252
NSE 2023-24 498 893,218
BSE 2022-23 33 326,006
NSE 2022-23 516 805,125
BSE 2021-22 50 270,382
NSE 2021-22 445 896,851
BSE 2020-21 12 108,657
NSE 2020-21 491 564,034
BSE 2019-20 60 107,202
NSE 2019-20 332 377,123
BSE 2018-19 30 93,959
NSE 2018-19 187 322,121
BSE 2017-18 50 137,652
NSE 2017-18 160 307,647
BSE 2016-17 23 83,617
NSE 2016-17 119 207,194
BSE 2015-16 29 79,547
NSE 2015-16 116 165,844
BSE 2014-15 46 62,867
NSE 2014-15 127 152,608
BSE 2013-14 42 663,408
NSE 2013-14 120 123,022
BSE 2012-13 50 642,403
NSE 2012-13 119 621,966
BSE 2011-12 80 595,786
NSE 2011-12 134 592,459

Motilal Oswal complaint at NSE

2024-252023-242022-23
Active Clients958025893218805125
Complaints129498516
Resolved through the exchange51492460
Non actionable048
Advised / Opted for arbitration022
Pending for redressal with exchange78046
No. of arbitration filed by clients1919
Decided by arbitrators in favour of the clients087
Decided by the arbitrators021
Pending for redressal with arbitrators1112

Motilal Oswal complaint at BSE

2023-242022-232021-22
Active Clients485252326006270382
Complaints993350
Resolved through the exchange793150
Non actionable16118
Advised / Opted for arbitration012
Pending for redressal with exchange420
No. of arbitration filed by clients101
Decided by arbitrators in favour of the clients201
Decided by the arbitrators100
Pending for redressal with arbitrators000

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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63 Comments

43. Nagendra singh   I Like It. |Report Abuse|  Link|October 13, 2020 3:09:03 PMReply
As per Aspire customer care suggestion regarding subsidy for loan a/c LANLXRAI 00117-180065067. The home electricity bill copy is send for necessary action but the subsidy is not given till date.But TPS number not received in mail yet.
43.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:56:02 PM
Raise the issue with the nice plus portal of NSE Investor services cell....they will ask them a valid reason why have they done so and if any discrepancy is found then a befitting reply is awaiting them.
Or you can also register ur compliant with Resolver Indian platform
42. Dr ritesh motwani   I Like It. |Report Abuse|  Link|October 21, 2020 12:49:00 AMReply
My rate of interest is 13.5 % and 20 years time but they raised by own 14.10 and 27 years of time then I was demanding for foreclosure letter they are not ready to give me and harassed me but I get it they demand 1180 rs for fore closure letter I was paid but when they were provide foreclosure letter again 1180 rs also added I asked why twice then they said it will refunded after all process
They gave me a fore closure letter to pay the amount 01 September to 30 septembers they charged me full month interest but my payment was already done at 20 september they remaining days interest will be refunded but know they are saying nothing will be refunded
That motilal oswal home finance are fraud
42.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:53:43 PM
Raise the issue with the NSE Investor services cell in the nice plus portal of NSE..hope ur issue will get a logical end
41. Ravindra   I Like It. |Report Abuse|  Link|January 24, 2021 12:14:07 AMReply
My value pack not returning and they are asking your value back is deactivated but not giving return my money if I do mail on quary@ then they are send same reply repeated please help me and who was open my account he now leaving job from Motilal
41.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:52:09 PM
Raise the issue with the nice plus portal of NSE Investor services cell....they will teach them a lesson
40. Ravindra jadhav   I Like It. |Report Abuse|  Link|April 14, 2021 1:12:46 PMReply
Dear Motilal Oswal Team,

This is the Ravindra Jadhav Code is (IB0122)

This is to inform you that we have check our statement in that the Brokerages is charge higher side how it is possible ????

As per our contract sing in that Brokerage another one but you have change it without my confirmation.

Kindly check and and refund the Brokerage today Only

The is the treatable firm but you have do this type of activity which is not acceptable.

I Hope you understand my query and resolved it by today......
40.1. Nitish Shaw   I Like It. 1|Report Abuse|  Link|June 10, 2021 4:50:21 PM
Raise the issue on nice plus portal of NSE in the investor services cell ........hope ur issue will get a proper direction
39. Aashish   I Like It. |Report Abuse|  Link|May 11, 2021 12:05:10 AMReply
Hi,
Since I am not getting proper response from Motilal just writing here so to get options to escalate. I was promised by Motilal agent of 20,000 every month if I invest 5 lakhs. I invested 5 lakhs and said even 15,000 per month also good but I need. One month agent transferred 11k and one month some 14k. April month nobody contacted me. I followed up for transaction no body answered and I didnot get anything. Later agent said she is not handling my account as she is promoted. I said then somebody else should be taking care of my money or else they should have informed me. She said she had informed her manager and she is surprised that nobody contacted me.I lost my opportunity for April month. I could have made if I had 5 lakhs available. I had written to Motilal mail but not getting proper response, infact I asked them to release my 5 lakhs so that I can use it for intraday etc. But their callous approach is really worrisome. How they can mismanage somebody's money
39.1. Archana padhye   I Like It. 1|Report Abuse|  Link|June 9, 2021 12:15:18 PM
No advisor received call immediately bad service technically bad app down for no of days
38. Raghavendra Bhutanal   I Like It. |Report Abuse|  Link|May 20, 2021 5:48:45 AMReply
VERY BAD SERVICE.I AM FACING A PROBLEM IN USING MOSTILAL A/C ,I MADE CONTACT WITH MOTILAL CUSTOMER CARE AND THEIR LOCAL BRANCH ALSO . BUT THEY ARE DON'T RESOLVING MY PROBLEM.
Request Received on: May 19 2021 5:24PM
Interaction Id: 8242278
Expected Revert time: 6 Working Hours .

Request you to please suggest me for closing of demat account. I don't wanted any account held with this Motilaloswal.

Very Bad services this organization.i will not referring any customer of this MOFSL,,,Better we have to open an account in SHCL,,,,,,,

38.1. Archana padhye   I Like It. |Report Abuse|  Link|June 9, 2021 12:13:49 PM
Really bad...my account was opened quickly but POA form was no uploaded immediately and because of considerable delay I faced 10000 actual loss and my sale at that price was cancelled that was added loss...also account is down for n number of days...technically also too bad
37. Altaf Patel   I Like It. |Report Abuse|  Link|October 23, 2020 6:09:34 PMReply
I have huge difference of Rs 23000 in ledger statement and actual trade statement. I am calling/mailing and discussing with them for several months and they say to look into it but there is no resolution at all till date. They just pass me from one department to other. How can they be such unprofessional, that too with their regular customer?
37.1. mohit gulati   I Like It. |Report Abuse|  Link|December 3, 2020 4:49:22 PM
I am also facing the similar issue.
MOTILAL OSWAL is worst customer service provide in Market.
36. ASHISH UPADHYAY   I Like It. |Report Abuse|  Link|November 5, 2020 10:24:44 AMReply
I AM ASHISH UPADHYAY I HAVE A DEMAT ACCOUNT WITH YOUR DEHRADUN UNIT, I HAVE FACING PROBLEM FROM LAST 03 YEAR I HAVE WENT FOR CLOSURE OF MY ACCOUNT BUT SINCE LAST 03 YEARS, BUT TILL DATE MY ACCOUNT IS NOT CLOSED AND THEY CHARGED ME AMC CHARGE OVER AND OVER EVERY YEAR, PLEASE HELP FOR CLOSED MY ACCOUNT AS SOON AS POSSIBLE AND WAIVED THE AMC CHARGES.
35. VARSHA k sHAH   I Like It. |Report Abuse|  Link|October 22, 2020 8:29:25 PMReply
BAB O11



I am Varsha Keyur Shah,recently Demat a/c opened with you,several times I tried to contact i did not get satisfactory Reply Never put the client to Poper person, so Now Iam Fedup with treatmentand want to Close a/c I have paid Rs.2000/- to open a/c now at present Balance is Rs.700/- Kindly Refund the balance at the earliest
34. banshidhar   I Like It. |Report Abuse|  Link|October 22, 2020 5:54:50 AMReply
no 1 cheater company, maha thug
33. RAJAT AGGARWAL   I Like It. |Report Abuse|  Link|September 18, 2020 4:04:27 PMReply
VERY BAD SERVICE . I AM FACING A PROBLEM IN USING MOSTILAL SOFTWARE ,(ORION LITE ) I MADE CONTACT WITH MOTILAL CUSTOMER CARE AND THEIR LOCAL BRANCH ALSO . BUT THEY ARE DON'T RESOLVING MY PROBLEM
32. Hiren Shah   I Like It. |Report Abuse|  Link|August 31, 2020 9:58:38 PMReply
I have requested several times to my agent to close my Demat account from last 2 years. I have filled the closer form two times and submitted to my agent but still, I am getting emails from MOSL regarding the Ledger And DP Statement. Kindly do the needful and close mu Demat account.
31. Favaz   I Like It. |Report Abuse|  Link|June 15, 2020 11:13:05 AMReply
I have Ac with ur co. Since i had not used any time. It was free opening demat Ac. But ur co. Had taken 999/- from my Ac. I want close my Ac. N want my 999/- back withen a weak . Etherwise i wl do future ..........
30. Sreedhara   I Like It. |Report Abuse|  Link|April 18, 2020 4:49:15 AMReply
I couldnt believe that people who should keep trust are the ones misusing it. At MOFSL its all shady deals. The shares are not deposited on time in DP. They short sell your shares and make it go to auction. Platform is very bad, TGS is a money making guide and also to help few traders. The modus operandi is to get clients to trade more and then interfere with every aspect from charges to mis use of purchased shares for other purpose like using as collateral for margins etc. Motilal is also barred from NSEL for similar cheating activities there as well. Their trader Shakshi short sold my share and then auction fees which will never be sent as full statement. In the name of support, tgeir 100s of executives are scouting for money making opportunity. They make huge money within a short span through these activites and never care for long term association. It took 15 days and a persistent fight to get my shares back i purchased into DP. People unabatedly habdle clients account as their own. Inspite of having one of the biggest brokerage charge they arent satisfied of money.
I am sure a day will come when finally the regulator like Sebi will stop failing the unsuspecting investors in these companies. Sebi is solely for this purpose but is failing at many place to arrest such issues. I am sure one day it will fail miserably than Yes bank unless the companies vision and mission are altered. There is such a huge difference between zerodha, a fantastic low brokerage firm and mofsl, a huge brokerage company. They therefore are not interested in providing a good platform to client(to sell tgs), and even tgs is terribly gullying software.
Wake up before its too late and put house in order.
Regards
29. Vikash Saxena   I Like It. |Report Abuse|  Link|November 23, 2019 6:01:00 PMReply
Dear Sir/Madam, I have trading account in your company and  I am not trading last one year but RM called me on 19.11.2019 and ask for trading with currency market  . I told several time that I am not interested in trading but your reprensitive Mr. Sreyash again and again compel me that " please trust me you will get profit . but he made lost my money Rs. 33000 in one day.Please take appropriate action against him and refund my money, Otherwise I have to complaint to SEBI.

Thanks and Regards
Vikash Saxena
29.1. Jai kumar dugar   I Like It. |Report Abuse|  Link|April 18, 2020 3:21:37 AM
Dear Sir/Madam, I have trading account in your company and I am not trading last one year but RM called me on 14.11.2019 and ask for trading with bank Nifty option c market . I told several time that I am not interested in trading but your reprensitive Mr. Sreyash again and again compel me that " please trust me you will get profit . He is not tell the stop loss price and he had committed he will take care the position. but he made lost my money Rs. 33600 in one day.

After that i complaint motilal oswal team Mr Jay Bothra He had checked audio Recording and he found that mistake did by Shreyas but he is not do action and now again they transfered my account to Miss Kruti Joshi

She knows the matter but no body take a action .
Even i humble request to Every one who read my blog please give advice.

Please take appropriate action against him and refund my money, Otherwise I have to complaint to SEBI.

Cliend Code - EAOPE11134
Name - Jai kumar dugar
28. Gayatri Minj   I Like It. |Report Abuse|  Link|April 7, 2020 5:00:35 PMReply
Will I get my problem solved .
No reply but there are movements in my profile without my consent since I lodged this complaint
27. Gayatri Minj   I Like It. |Report Abuse|  Link|April 1, 2020 8:00:11 AMReply
Sir
I 've investment in your Ace products .....
But without my consent there is 're shuffling of the products....
Since I 've gone into great loss ...for sometime I want to witdraw all my investment and cud back wen market is stable...
26. Banwari lal   I Like It. |Report Abuse|  Link|March 15, 2020 3:42:16 PMReply
Dear sir meri adviser akshita Gupta hain ounhone to pehle mujhey tgs service lgane ko bola ki tgs se Aap kabhi loss me ni jaoge , or jab mujhey 18000 ka loss ho gaaya to Mene bola ki tgs service band kro to Ab bolti hain ki band ni hogi...... Pls help me keise band krwaooo tgs service ko Ab Maine ounhe bahoot call kiye mail b bhejna PR koi fayda ni hkoaa

25. Srimathi   I Like It. |Report Abuse|  Link|January 22, 2020 10:21:57 AMReply
Motilal Oswal inappropriately traded Futures/Options without my consent and my entire wealth was eroded in a day when I had ACE portfolio maintained with Motilal Oswal. I plan to take legal action against Motilal Oswal for treating my wealth as their wealth and play around with that without taking any care and acted NOT in good faith to their customer
24. RAJINDARR AHUJA ADVOCATE   I Like It. |Report Abuse|  Link|April 19, 2019 3:54:59 PMReply
my broker trades without my acceptance or direction and there is a loss of Rs 6.50 lakh should I file suit against my broker and MOTI LAL OSWAL

I AM GOING TO FILE SUIT PLEASE ADVICE
24.1. imran shaikh   I Like It. |Report Abuse|  Link|July 31, 2019 2:26:59 PM
Dear Sir ,same thing happen to me from my broker , he was guided by motilal oswal i have a loss 77500/ without permission he trades , now i have Rs 2500 . please guide me for the same.