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Delay in Redemption of REF-Reliance Mutual Fund

This is a discussion on Delay in Redemption of REF-Reliance Mutual Fund within the Mutual Fund forums, part of the Investment category; I, Sunil Kumar Sahni purchased Reliance Equity Advantage Fund (Folio No. 41648594254) and Reliance Equity fund vide my Folio No. ...

  1. #1
    Sunil Sahni Guest

    Default Delay in Redemption of REF-Reliance Mutual Fund

    I, Sunil Kumar Sahni purchased Reliance Equity Advantage Fund (Folio No. 41648594254) and Reliance Equity fund vide my Folio No. 43416536445.

    I have received redemption amount of Reliance Equity Advantage Fund (Folio No. 41648594254) on 07/10/10 but follow-up for Reliance Equity fund redemption amount and I received the same after 2 months. I need funds at that time on urgently basis but delayed from Reliance end not fulfill my requirement and I bear a loss at that time.

    After too much followup by verbal and written communication, I have received my cheque on dtd. 29.11.2010.

    I have lodged lots of complain through telephonic and written mail in Reliance Mutual Fund Customer care.

    I have regularly follow-up Reliance Customer care from 08/10/10 onwards but they say different reasons and make me go here and there so they hold my money for floating. On dated 26/10/10, they told me that my redemption is done on 14/10/10 and the same is transferred to my Saving Bank Account.

    I have follow-up my ICICI Bank, New Friends Colony, New Delhi (base branch) and submit documents as per Bank requirements but unable to trace my money. On 03/11/10 Reliance Mutual Fund Customer Care written mail and said the same reply which they given me verbaly "that my redemption is done on 14/10/10 and the same is transferred to my Bank Account"

    Request you to please look-up the matter and avice me where I have to approach.

    Thanks,
    Sunil Kumar Sahni
    New Delhi



    and my last fresh complain lodged on 15/01/11 vide complain no. 13132715.

    I told them that if I have not receive a reply from you within 7 working days then I put up this matter further and take a legal step regarding the same problem that I have faced from you.

    My money was blocked with Reliance Mutual fund.

  2. #2
    Unregistered Guest

    Default Worst reliance mutual fund

    My redemption application refused as signature mismatch same signature was made for hdfc and birla mutual funds which was acceptted so once agin i resubmitted with bank verification again it was rejected saying bank officers designation is not there although bank stamp is there

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