closing of Dmat Account

Location/place: New Delhi

Name of company/service: Networth Direct

dear sir,

1. I opened dmat account no 148853 in 2009 with networthdirect at visakhapatnam branch.

2. On Jul 2010 i given account closing application to the branch and requested them to close my account. (copy attached). At the time my account was showing a debit balance of 110 Rupee. Which i cleared via online transffered at the same time. (screen shot of payment attached). But for my surprise the account was not closed and when i raised an online query in mynetworth (Grievence id 27019 attached) it was replied by your online staff that my form was missed by the branch, so i should resubmitt it and the debit caused after my previous application will be bare by the branch.

3. Recievign the reply from your online support i again visited the visakhapatnam brabch and resubmitted the closing application with letter on 30 Aug 2010. (reciept enclosed), and this time i was assured that this will be closed. But next few days later i again recieved and amc statement proving that it was not closed again. i again posted an online grievence ( ID 35054 attached) on 16 May 11. and replied that the form was again not recieved. so because the branch was not initiating the action on my account closing applicatin for whatever reason (which i never come to know) led to the non closure of that account despite my frequent effort and initiative. and now i got transferred to delhi, so i am unable to visit that branch.

4. I also contacted their customer support, they are asking me to settle the debit amount balance charged after Jul 2010. which is a most harrasing thing, instead of taking action against above branch they are penalising me.

5. Please help me out sir what i can do.


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