[Resolved] Reliance Capital Eld. (Equity Linked Debenture) — WRONG SELLING OF PRODUCT -ICICISECURITIES.COM
In this connection I have to state that Shri Pankaj Khanchandani, Regional Product Manager - Retail OF ICICISECURITIES JAIPUR has narrated the full scheme (SCHEME NO.REL CAP SR B/78 19MY15 FV10LAC (STOCK RELN11))and he has wrongly stated that the benefit of 26.75% along-with the participation in nifty will hold good even THE NIFTY FALLES BELOW THE CONTINGENT LEVEL (COPIES ECLOSED). This he has shown that the last effect will only prevail if nifty ALWAYS GOES BELOW THE CONTINGENT LEVEL OF 4300 FOR ALL THE 26 MONTHS (AS HE HAS WRITTEN AND EXPLAINED ON THE EXAMPLES) IF WE ASSUME THE NIFTY AS ON 5700 LEVEL.
Therefore in my opinion the contract on which I have singed does not hold good as I was disagree to sign if the benefit of 26.75% of investment amount of 1000000/- does not prevails. I WOULD HUMBLY REQUEST YOU TO ARRANGE TO DISCONTINUE THE SAME AND REFUND THE AMOUNT OF RS.1030000/- PAID BY ME FOR THE SCHEME TO ME. MY EMAIL ID [protected]@YAHOO.COM AND MOBILE NO. IS [protected]
Complaint marked as Resolved Aug 13, 2020