[Resolved]  Reliance Mutual Fund — Non receipt of Declared dividends

Address:

Howrah, West Bengal

On 25.02.2008, I made 2 deposits of Rs. 15,000/- each in Reliance Mutual Fund with Account nos. [protected] (Option Dividend Payout) (nothing was paid) and [protected] (Option Growth) (on the contrary diminished). I got them redeemed on 25/02/2011. To my utter disappointment and surprise, I recieved back Rs. 14,604.91 each. I was getting regular E-mails about declaration of Dividend for which I have got proof both in my mobile [protected] and my Computer. The Sensex was running around 9000 Points at the time of deposits and was running around 18000 points at the time of redemption. It is always mentioned the MFs are subject to Market Risk. I would like to know whether it is Mrket Risk or the specific Company Risk? (The Market does not seem to have fallen in this period). Public cannot be befooled showing the Market. From some other deposits I am receiving 6 to 8% dividends annually. Who will redress the grief of Senior Citizens (Pensioner) who deposit their life earnings anticipating a good return and losing the basic amount?