I had invested in Franklin Templeton in 2006. On 06/11/2009, I had given redemption request at Kolhapur for my investment under folio no.[protected]. Please note that the turn around time for processing such request is 4 working days. On 11/11/2009, I got two messages on my cellphone stating that my bank details have been changed and my redemption request has been processed. I enquired with Kolhapur office immediately and they said that my bank details were not changed and it could be a wrong message but my redemption was processed.On 13th, I again called up their Pune office as I had not received the money, they claimed that a cheque has been issued and the same is couriered from chennai to my Baroda address(where my parents stay) on 11/11/2009. On 16/11/2009, I again enquired about the funds and I was told that the courier was delayed due to heavy rains (I dont know where the rainfall was heavy in November) and hence I should receive the cheque on 16th. On the same day, in my second call to them, I was told that the courier was delayed as there were holidays for 2 days!! (which courier company is closed on Saturday?) Again on 17/11/2009, when I called up Pune office, I was told that the courier was returned as the house was always locked on 13th and 14th Nov whereas my mother was at home both the days waiting for the cheque. She deliberately did not step out of the house. Today its 18/11/2009 and I have still not received the cheque and the Pune Franklin office says that they have not received it from the courier office even. I had issued a cheque basis the redemption money I was going to get. I had to borrow funds to honour that cheque.
I dont understand why does it take 12 days to process a simple redemption?? Who is going to pay for the interest loss that I have sufferred and the hardship I had to go through?? The Pune office people are not giving prrper replies which i adding up to my frustration. Kindly do the needful. Was this information helpful? | 
