I had purchased 10,000 Shares of Resurgere Mines @ Rs.0.25. The Gross Amount of the same was Rs.2500. The Brokerage fixed by Kotak as per my scheme was 0.04% on intra-day & 0.35% on delivery. However the said Broking Firm has charged 4 paisa per share on delivery, due to which my effective buying amount becomes Rs.2900 (Service Tax & STT extra) (0.25+0.04 = 0.29 per share). The Effective Brokerage Rate on said shares charged became 16%. (400/2500). As per my knowledge about SEBI Laws, The maximum brokerage A Broking firm can charge is 2.5% of Share Amount. On selling of supra shares, the broker has charged again 4 paise ie. Rs.400.Kindly take strict action on this.

Originally Posted by SHRIPAL CHOPDA

I had purchased 10,000 Shares of Resurgere Mines @ Rs.0.25. The Gross Amount of the same was Rs.2500. The Brokerage fixed by Kotak as per my scheme was 0.04% on intra-day & 0.35% on delivery. However the said Broking Firm has charged 4 paisa per share on delivery, due to which my effective buying amount becomes Rs.2900 (Service Tax & STT extra) (0.25+0.04 = 0.29 per share). The Effective Brokerage Rate on said shares charged became 16%. (400/2500). As per my knowledge about SEBI Laws, The maximum brokerage A Broking firm can charge is 2.5% of Share Amount. On selling of supra shares, the broker has charged again 4 paise ie. Rs.400.Kindly take strict action on this.

Dear Mr. Chopda

We hear you. We will look into the matter and address your concern at the earliest. In the meantime, do share your contact details with us at service.securities@kotak.com so our customer care executive can get in touch with you.


Regards,
Team Kotak Securities

Originally Posted by SHRIPAL CHOPDA

I had purchased 10,000 Shares of Resurgere Mines @ Rs.0.25. The Gross Amount of the same was Rs.2500. The Brokerage fixed by Kotak as per my scheme was 0.04% on intra-day & 0.35% on delivery. However the said Broking Firm has charged 4 paisa per share on delivery, due to which my effective buying amount becomes Rs.2900 (Service Tax & STT extra) (0.25+0.04 = 0.29 per share). The Effective Brokerage Rate on said shares charged became 16%. (400/2500). As per my knowledge about SEBI Laws, The maximum brokerage A Broking firm can charge is 2.5% of Share Amount. On selling of supra shares, the broker has charged again 4 paise ie. Rs.400.Kindly take strict action on this.

Dear Mr. Chopda,

This response is from Kotak Securities.

With our Customer Service in touch with you, we hope to have resolved your issue.
We also take this as an opportunity to thank you for your feedback.
In case of any further queries, send them to service.securities@kotak.com

Regards,
Kotak Securities