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Non Payment of New PMS Business Commission - Motilal Oswal Asset Management Company

Complain ID : CCN037295   49  

Business Complaint Complaint Date: February 9, 2019
Modified date: February 21, 2019
  • State :  Maharashtra
  • City :  Mumbai
  • Address: 4/171 Shivaji Nagar, Dr A B Road, Worli, Mumbai 400030
Dear Sir/ Madam,

Even after continues follow ups from my end, neither Motilal Oswal nor Regulators are serious about my concern.

MOAMC had cheated my client Ms Bhickoo Kapadia and charged her exit load wrongly. When Client fought against it and filled complaint with SEBI, MOAMC agreed on that and reversed the same to client. That letter is attached in this email.

Now MOAMC passed that Exit load to MOFSL and instructed to debit my ledger. Both, MOAMC and MOFSL is playing dirty game. They are creating confusions and deliberately trying to misguide the regulatory and trying to stop my commission income. The communication email between me and MOAMC, MOFSL is also available if you need for investigation. The latest Ledger shows that they want to still debit Rs 65000 from my future income.

I am shocked that how regulatory authorities are simply ignoring this fact and favoring them. This is clear mis governance at SEBI & AMFI level. From last two months I am personally in touch with SEBI and AMFI but the issue is still not clear to them?

Either MOFSL or MOAMC should reverse my commission and revert that on what legal ground they have stopped my commission? MOAMC and MOFSL, purposely ignoring my question.

Regards,
Sunil Surve
9224307275
Complaint Against / To: Motilal Oswal Asset Management Company

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