Sapna Bandekar filed complaint against Upstox RKSV Securities India Pvt Ltd on Mar 22, 2023
I have raised a complaint with upstox to refund the loss of Rs**** incurred due to their network outage and lack of assistance from their customer service phone, chat and email departments to help me square of the open profitable trade as I was unable to square off the same from my end due to their network outage.
Due to their negligence the trade was converted into loss of Rs ****. I humbly request a refund for the loss incurred during their platform outage that occurred on [** June ****]. As you are aware, I was unable to square off my Bank Nifty *****PE position due to the network outage at Cloudflare, and as a result, suffered a loss of INR ****].
As per "The Depositories Act, ****," the DP is liable to indemnify the loss that I incurred due to their negligence in service. I, therefore, request upstox to honor my rights as a BO and process my refund request immediately.
I'm following up with Upstox since * months to get a resolution however they are unable to redress my grievance within the timeframe. And keep copy pasting the same revert that we cannot refund.
I am writing to express my deep frustration with the way my complaint regarding the loss incurred on my account has been handled. As per my previous emails to upstox, I had incurred a loss on my Upstox account due to the global network outage at Cloudflare, and I was unable to close my position at the appropriate time despite reaching their team over phone chat and email.
I made repeated requests but Upstox has failed to provide me with a satisfactory resolution to my complaint. I understand that the network outage was beyond your control, but as a responsible DP, it is your duty to provide a backup system to ensure the safety of the clients' investments and provide assistance when customer is reaching out to them.
Furthermore, I would like to highlight that I had tried to contact Upstox over phone, chat, and email to seek assistance in squaring off my position. However, I did not receive any support from your team, which converted my trade into a loss.
I value if Voxya could assist me in getting this grievance redressed and support me in getting justice without further delay. I look forward to your prompt response to this matter.
Kind regards,
Sapna
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My two years of blood & sweat got valued finally with Voxya. I got a full refund with no hustle after they received notice.
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