Kotak Mahindra Bank Run by Uday Kotak is one of the Most Arrogantly run Bank’s in India. Kotak Mahindra Bank violates all the SEBI / RBI Policies when it comes to serving customers who hold accounts. I’d like to narrate a sorry plight of mine. I’ so called Privy League Customer of the Bank. However, when I tried to Apply online for Saharda Cropchem IPO on Sept-09-2014, it would not let me do so. The IT Wing of the bank is More Arrogant that Uday Kotak as they removed the Scrip from the List available for application at 13:05. Please look at the Screenshot below.

Now If you visit the Website of the National Stock Exchange of India, you will see that the IPO Timing is until 17:00 Hours and Kotak is under the obligation to honour the same, at least until 15:30 and they can’t unilaterally close much before the timing mentioned.

I’d suggest that you Do not Bank with Kotak if you want to Avail ASBA Facility to Apply for IPOs in Indian Stock market. Complaints to the Bank have not been answered back.

Aggrieved Customer,
Chetan