Dear Sir,

I am Javed Malek, and have purchased 1500 NAV of Reliance Mutual Fund (RNRL) on behalf of my spouse / wife's name (Ms. Bilkish A Chauhan) on 25.02.2008 through HDFC Bank - Anand-Gujarat.
Account No- 4898121373

Becuase of no returns from this worst script, I had applied for redemption on dt. 16.12.2009 and the executive of Andheri-Mumbai branch informed that will received the total amount within 7 days.

After too much followup by verbal and written communication, I received my cheque/money on dtd. 23.01.2010.

During my verbal communication with Reliance customer care executive, they had promised me to give compensation amount and will be intimated for the same.

In view of above I have registered a complaint (Request No - 07455971 dated 05.01.2009) , Also verbal communication from a mumbai branch with Ms. Mancha on dated 16.01.2009.

My written communication's dates are : 05, 07 & 19.01.2009.

My money was blocked for almost 40 days with reliance with that I could get/earn good returns by any other script or by stock market.

Finally I am not happy with this Co. & I request you to please look into the matter and guide me to have compensation amount.

Note: Attached herewith the communicated mail with Reliance Customer care.

Regards,

Bilkish Javed Malek
C/o Javed Malek
Mumbai-Maharashtra

I have submitted redemption request 2 times, they simply rejected the request saying my signature miss match.

First time they did that , I personally went to their branch in Bangalore, Manipal center, Dickenson road, taking a days leave from my hectic schedules at office. I proved to them it is me who submitted this request for redemption by showing 1. Original Pan card 2. Original Application form that I received from Reliance mentioned the units folio # etc.. 3. original Cheque book (the same bank which I used while I opened my account from where they debited the money). I told them I am not asking you my money in hand , just transfer it to what ever bank account number you have in your records.

After showing all the above documents by visiting them in person wasting my whole day, they wanted me to get bank attestation and assured this will be taken care. I went to the bank and got that done, the bank charged me some money for attestation!!

After I resubmitted my request with the bank attestation, they are again saying there is a signature mismatch.

Not sure how in the world I can still prove that I am the person who started this account !!

These are the lessons that I have learnt after following up with RMF in the last 1 month and almost FED UP!!!

1. They do not respect their customers time , money and effort.
2. They want to say some damn reasons and make customers go here and there so they still hold our money for floating.
3. The fund is a total waste, I invested 35k 2.5 years back, now it has only matured to 36k. Even If I had invested in a bank, I would have got more.
4. They do not verify any damn thing when we want to invest, why was this verification not done when I started this account or additional purchase???

If there is someone who can help me, it would be great !!

My folio number:42178772961