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U. T. I. Mutual Fund- Infrastructure -Dividend payout

This is a discussion on U. T. I. Mutual Fund- Infrastructure -Dividend payout within the Mutual Fund forums, part of the Investment category; I purchased units of titled fund on08/11/2007 under folio no.3071615081( units purchased-1301.442 at NAV Rs.28.43 amount invested Rs.37000/= statemrnt dt.23/11/2007). ...

  1. #1
    anilmohile12@yahoo.co.in Guest

    Default U. T. I. Mutual Fund- Infrastructure -Dividend payout

    I purchased units of titled fund on08/11/2007 under folio no.3071615081( units purchased-1301.442 at NAV Rs.28.43
    amount invested Rs.37000/= statemrnt dt.23/11/2007).
    Requested for switch to dividend yield on18/04/2011. recd. letter from Karvy dt. 19/4/2011 saying that BALANCE UNITS IS NIL UNDER FOLIO NO.510236790877.Lodged complaint at U.T.I. - J. V. P. D. office in MUMBAI ON28/04/2011 giving all documents like1-statement dt.23/11/2007 2-Switch request dt.18/04/2011,3-Karvy letter dt. 19/04/2011, 4- xerox copy of bank statement showing debit of Rs.37000 on13/11/2007.I was asked to take up the matter with Mr. KHOPKAR OF KARVY.9PHONE NOS.9004089491/66235323. Ihave been following with the same person who keeps saying that he has forwarded papers for further action.
    Iam senior citizen of 67 years and need money/ action immediately. pls. help me.

  2. #2
    786786ma is offline Junior Member
    Join Date
    Sep 2011
    Posts
    1

    Default Investor ID NO.13136049-RUD Register NO.10859634-Maqbool Ahmad

    I have made relentless efforts with Unit Trust of India since 19,December-2008 to send my cheque for INR 6,822.75 ( This represents maturity amount plus interest) as per my initial and only one instructions registered with them to SBI commercial and international Bank Limited,Maker chamber-III, Nari man Point  Mumbai-400021 but they are issuing and sending all cheques to irrelevant Bank,SBI Narimon Point Mumbai where i do not have Account and this is an open arbitrary change with out my consent,resulted in serious inconvenience to me and loss of Interest for three years.All such wrong cheques are being returned to them promptly by SBI Nariman Point Mumbai with remarks" Account is not with us/Advise us correct Account No.I have immediately informed to UTI about their all three mistakes and they have rectified similar two cases and have sent two Interest Cheques to my Banker SBI commercial and International Bank-Mumbai and these have been credited to my Account. The maturity amount INR 6,822.75 is pending since 19,December-2011 and in spite of making intensive correspondence they have not solved this problem this vividly shows officials gross negligence and negative attitude towards investor.They are asking to me to sign an undertaking letter for unclaimed amount.They should understand that they are writing a totally wrong letter to me and they have to send my cheque to correctt Bank as per my instructions held with them.Moreover Indemnity letter is required when the cheques are lost,This is not a loss of cheques case and this matter is almost three years old and as per Banking rule and regulations this cheque is already under stale status.In one case my Banker SBI commercial and International Bank has also informed to UTI about their mistake.All supporting documents are attached which gives the clear pictures about their negligence and creation of plenty of inconvenience to investor.They are fully aware that i am based in Abudhabi under NRI status and Funds are invested from abroad. 

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