Dear Sir/Madam,
Reference : Folio No. 171696379.
Subject : Mis-information and casual approach towards Investors during redemption.
I am a joint holder of the above mentioned scheme units along with my late father Mr. Leo D'souza. I had approached the SBI Investor center in Borivli on the 25th November stating that I would like to redeem the units to which I was asked to submit a copy my Father's Death certificate attested by a Lawyer along with details of my bank account, My Pan card copy for proof and also a blank cancelled cheque. I was informed that it will take 15 to 21 days to have this completed, and thereafter the redemption will be processed. The application was filled with the condition that proceeds may go to either or survivor.
after nearly a month that is on teh 21st December when I approached them again a Senior officer adviced me that My signature was not matching and that I would need my Bank verification for that. Which again I did after paying my bank charges for the Verification on teh 22nd December and then I was informed that It takes 4 days but the officer promised that he will try to get it done soon as Christmas was just around the corner and as the executives there had not told me this earlier and it was their mistake.
Today is the 30th nearly 8 days and to be precise 5 working days and the proceeds have still not reached me. When again I approached them they now are saying that the Verification does not have the name of the officer on it and so I will have to re-submit the documents to transfer the proceeds and then go thru the process of redemption.
My only grievance is that the reps at the investor centers do not know the procedures and they are giving us the runaround. I would like strict and stern action taken against SBI and the Borivli Investor center as they are very casual and as per their thinking their investors do not have any other work but keep on submitting documents whenever SBI deems it necessary. If proper details would have been given then I woudl have got them sorted out and would have had the funds today. I requesat you to please look into teh matter please.

Thanking You

Sunil.