Hello Sir,

A few days back (15th March, '10) I asked my HSBC relationship manager to sell the units which are older than 1 year. (FYI A total of 199.798 units, equivalent to purchase till 2nd March, '09).
The person sent me scanned copy of the form through email and I filled it up and mailed her back. The person told me it will take some 4 days to get the redeemed money. After 7 days, when I saw money has not come to my account as yet, I called her back, and this time she told to contact another person ( Sreeni Balagopal ). This person on first call was surprised and it didn't seem that any sell order was placed. On next call ( which he picked up after several tries :@), he told that due to "some reason" the order got rejected. When I asked the reason, he told some signature mismatch happened. I was surprised that the bank did not even told me about this in these 7 days. I had some promises to make with that money, which for the time being I could not make up.

After a few days, when I thought of selling the units again I contacted Sreeni again and this time he sent one person to my office to take the signature. The person came and told me to sign in a HSBC form used to sell/redeem SIP units. I signed it handed it over to him, anyway. Even after signing the form, I tried to call Sreeni for several times, but he did not show the respect to pick up the phone, or call back.

Next day I call him again and he, thankfully, picked it up and told close to around 200 ( which is true, as per the data I've stated earlier) has been sold.

I was happy until I came to a great surprise while talking to Mr. Raj Vijeta Sharma, another person from HSBC, regarding the activation of online trading facilities. He told that I have only one month's (March,'10 ) investment left in the portfolio.

I again called Sreeni back. And again after several tries he picked up the phone and told that by mistake they have put March,'10 instead of March,'09. :@

Now they are saying the tax liability is very less for these newer units, which are less than 1 yr old, so their fault is very minimal. But the fact is I really "DID NOT" want to sell those units purchased after 2nd March,'09, not only because they are liable to taxation, rather the main reason is if I sell them the profit will be very very less. That's why I want to hold them back for future options.

Please help me on this. I want to get back all those units which were sold because of their mistake. Even if they repurchase those newer units ( which Mr. Raj is assuring over telephone now ), I will face tax liability if I sell them within next 1 year or so. And in this entire process I have lost all my hopes on HSBC. Please tell me what to do in this case.

Looking forward to your participation to solve this issue.

Regards,
Subhrajyoti.