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Cancellation service #1 in United Arab Emirates
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Dear Sir or Madam,
I hereby notify you of my decision to terminate the contract relating to the Motilal Oswal service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
cancellation Motilal Oswal: Easy Method
What is Motilal Oswal
Overview
Motilal Oswal is an Indian financial services firm offering broking, investment products, advisory services and portfolio management. It provides a mobile app (Riise / Motilal Oswal App) that allows trading and mutual fund investments from the UAE.
Services relevant to UAE residents
UAE users can download the app for free and transact in Indian markets; fees such as brokerage, AMC and transaction charges are denominated in Indian Rupees (INR). The company maintains a regional office presence for local enquiries.
How to cancel Motilal Oswal
Closing a trading / Demat account (preferred method)
- Download the Account Closure Form from the official Motilal Oswal site and print it: Motilal Oswal.
- Fill in DP ID, Client ID, KYC details, reason for closure and sign where required.
- Attach copies of your PAN, passport/visa, proof of UAE address, and any required NRI/POA documents.
- Submit the form and attachments physically to Motilal Oswal’s office or as instructed by their support team.
Stopping SIPs or mutual fund instructions
- Log in to the Motilal Oswal app or web portal, go to the mutual funds / SIP section and select “cancel/stop SIP”.
- If not available online, submit a written SIP stop / cancellation request to Motilal Oswal or the fund house via their prescribed form.
- Confirm cancellation by checking your order history or receiving an email confirmation.
Alternative channels and follow-up
- Contact customer support to confirm submission and any pending obligations (outstanding margin, unsettled trades, holdings).
- If you have holdings in Demat, transfer them to another DP before closure; closure will be rejected if holdings remain.
- Retain proof of submission and confirmations until the closure is fully processed.
What happens when you cancel
Account access and services
Once closure is processed you will lose login access to trading and Demat services. Order placement and access to live market features will stop immediately after final settlement.
Data, records and statements
Motilal Oswal retains transactional records as per Indian regulatory requirements. Request and download your account statements, tax documents and trade confirmations before closure.
Outstanding obligations
Any unpaid brokerage, margin shortfalls, unsettled trades or statutory fees must be settled before closure. Transfers of holdings must be completed to allow final Demat closure.
Will I get a refund?
General policy
The app is free to download; there is no subscription fee to refund. Transactional charges (brokerage, GST, AMC) are charged per activity and are generally non-refundable.
Exceptions and dispute resolution
- If an incorrect or duplicate fee was charged, raise a dispute with Motilal Oswal support with evidence (statements, screenshots).
- Refunds for administrative errors, if approved, are processed according to Motilal Oswal’s policies and Indian regulatory rules.
Practical tips
Before closing, request a final statement and check for any refundable balances such as unused margins or credit balances. Ask support for timeline and confirmation in writing.
Motilal Oswal plans and pricing
App access and pricing
The Motilal Oswal mobile app (Riise / Motilal Oswal App) is free to download in the UAE. There are no subscription fees listed in UAE AED.
How charges are applied
Fees related to trading and investing - brokerage, AMC and transaction charges - are charged per transaction and are denominated in Indian Rupees (INR).
| Plan | Price | Period | Features |
|---|---|---|---|
| Riise / Motilal Oswal App (Standard Access) | Free | One-time download / perpetual | Full app access for trading and investing; revenue generated via brokerage fees, AMC, transaction charges in INR |
Your consumer rights in United Arab Emirates
Consumer protection overview
UAE consumer protection laws require transparent pricing, accurate service descriptions and a clear complaints mechanism. You have the right to accurate information about fees and contractual terms.
Filing complaints and seeking remedies
If you believe a service provider has violated your rights, you can file a complaint with the UAE Department of Economy in the relevant emirate or the Ministry of Economy consumer protection channels.
Cross-border considerations
Motilal Oswal is regulated in India for securities and custodial services. For service issues, you may need to coordinate between the provider’s India-based compliance and local UAE consumer authorities.
Customer experiences
Common positive feedback
Users often cite strong research, a wide range of Indian market products and a feature-rich trading app as positives. The app’s free access is frequently highlighted.
Common negative feedback
Some users report delays in processing physical paperwork during account closure and occasional customer-support response time issues. Currency conversion and INR-denominated fees can cause confusion for UAE residents.
Balanced takeaway
Overall, many customers find Motilal Oswal competitive for accessing Indian markets, but account closure and cross-border administrative tasks may require patience and careful documentation.
Documentation checklist
Required identity and address proofs
- Copy of PAN (for Indian tax compliance) or applicable KYC document as requested.
- Passport copy and UAE visa page or Emirates ID as identity proof.
- Proof of UAE address (utility bill, tenancy contract or Emirates ID).
Account-specific documents
- Filled Account Closure Form with DP ID and Client ID.
- Latest account statement, transaction history and tax documents you wish to retain.
- Power of Attorney (if initial account opening used POA) or NRI declarations as applicable.
Common mistakes
Failing to transfer holdings
A frequent error is submitting a closure request while shares or mutual fund units remain in the Demat account. Transfers must be completed first to avoid rejection.
Not settling pending dues
Users sometimes overlook unpaid brokerage, unsettled trades or negative balances. These prevent closure until cleared and can delay the process.
Insufficient documentation
Submitting incomplete ID/address proof or not attaching required tax/NRI forms will slow processing. Always follow the exact checklist and obtain written confirmation.
Comparative recap
How Motilal Oswal compares
This table summarises key differences between Motilal Oswal and typical alternatives for UAE residents looking to access Indian markets.
| Feature | Motilal Oswal (UAE access) | Other Indian brokers | International brokers |
|---|---|---|---|
| Ease of closure | Physical form + paperwork; can be paper-heavy | Similar physical/online processes depending on broker | May support online-only closures but limited for Demat/Indian holdings |
| Fees currency | INR for brokerage and AMC | Mostly INR for Indian brokers | Often charged in USD/EUR with currency conversion for Indian trades |
| Support for UAE customers | Regional presence and UAE office contact point | Varies by broker; some have NRI/UAE desks | May have limited India-market support |
| Refund likelihood | Generally no refunds on transactional fees; disputes evaluated case-by-case | Similar policies; regulated refunds for errors possible | Depends on terms; foreign-currency refunds may involve conversions |
After cancelling
Confirmations and records
Keep all closure confirmations, final statements and tax documents. Store them securely for future reference and tax reporting.
Useful official links
- Motilal Oswal official website - account forms, contact details and support portals.
- UAE Ministry of Economy - consumer protection and complaint filing for UAE residents.
Next steps
If you plan to continue investing, consider transferring holdings to another DP or broker before closing and update your tax residency details if needed.
Address
UAE office
Office No 2006, Burjuman Business Tower, Floor 20, Burjuman, Dubai
Official website
For forms, support and official contact information visit: https://www.motilaloswal.com/
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