[Resolved]  Sundaram bnp paribas mutual fund — Amount debited from Bank but Units not credited

Address:

Dakshina Kannada, Karnataka

ref : S14 SBNPP Tax saver - (Open ended) - growth (14)
Folio : 2870705 /30

I have opted for S14 SBNPP Tax saver - (Open ended) - growth (14) - mutual fund from Sundaram Paribas.

In the month of July 2010 the SIP amount of Rs. 1000/- has been debited from my bank account, but the M[censored]nits are not credited by the SBNPP to my account.

Upon enquiry it was informed me that the reason was insufficient fund in my bank account where in more than 20000 was there on the said date and even the check has cleared from my bank account.

The response from Sundaram & CAMS online office in Mangalore is worst. Sundaram executives sounded helpless where as the CAMS executive are least bothered about the issue and very negligent. Even after 1 month, the issue is still open. Even though I have enrolled for more than 10 different companies mutual funds this type of bad service was never offered and I will never go for nor encourage any one from opting form any Sundaram BNP Paribas Mutual funds.

Regards

Shashikanth Shetty
[protected]@yahoo.com