In 2019, I requested ICICI Securities to close my Demat account. A few days later, I received an email stating my trading account was closed, but there was no mention of the Demat account status. Assuming the account was closed, I forgot about it.
Recently, in April 2024, an ICICI executive informed me that my Demat account was still active. Upon checking my bank statements, I realized I had been charged ₹826/year since 2019.
I registered a complaint on the SEBI Scores portal. Initially, ICICI Securities responded by saying my trading account was closed, not the Demat account, and that the Demat account was closed in April 2024, making the charges legitimate. I appealed, and ICICI Securities replied to the SEBI Scores portal, stating:
"This has reference to the complaint dated 09-05-2024 and 13-05-2024 of Complainant pertaining to the closure of the account for UCC: XXXX. As per our records, we would like to state that:
- The complainant's trading and Demat accounts were permanently closed on 21-JAN-19, with no funds/securities in these accounts.
- For bank account-related concerns, please contact the bank.
Yours faithfully, ICICI Securities Limited."
Despite this, they maintain that the account was closed in April 2024, not January 2019, and have wrongly charged me since 2019. They failed to inform me that while my trading account was closed, my Demat account remained active, which I believe was done to charge me unnecessarily.
Kindly suggest how and where I should complain to get my refund back.
