Tata Mutual Fund Complaints & Reviews

Dear sir
I have requested for redemption money from Tata Mutual fund in my Folio No. 6043503 on 20th July 2021. I requested for redemption money by NEFT TRANSFER as I am a senior citizen and during pandemic I am unable to go to my Bank and I am out of station. But they have sent cheque to my registered address and was returned back. For NEFT transfer first they informed IFSC code is invalid and then they informed investor account number short. I am having SB Account with Indian Bank Chrompet branch and i was a retired chief manager from Indian Bank and it is my salary and pension account.
I sent my pass book ist page image copy received to my Digilocker and cancelled cheque image and self attested PAN letter. They informed they're processing my request. Almost more than one month over the redemption money was not credited to my Bank account. Kindly do the needful.
Thanks
Regards
SUNDARESAN S

Have lodged a complaint on 27.01.2021 about error in their system to generate OTP to transact online. but till now the matter is not resolved. please refer below subject of the complaint lodged on 27.01.2021 and their complaint number alloted.

TataMF=[protected]' Problem to generate OTP - folio 3859868/62

1. I had done an stp on 12 sep 2019. Confirmation is given below:-

Dear investor,

We thank you for your online request for systematic transfer plan (Stp).
The stp details are as follows:

Ref no 1316054
Folio 4020846
From scheme tata india consumer fund direct plan growth
To scheme tata gilt securities fund
Frequency monthly
Amount 50000
Start date 20-sep-2019
End date 31-dec-2099

2. However above stp has not been implemented till dt inspite of two reminders. Even till date i have not received a concrete reply. My email and last reply recd from tata mf after one month and 5 days is given below:-

My e mail dt 15 oct 2019

The reply to my quiry/ review is taking very very long time which is not expected from a good fund house

Reply from tata mf on 17 oct 19

Dear sir/madam,

Greetings from tata mutual fund.

At the outset, we deeply regret the inconvenience caused to you in this matter.

With reference to your mail, we wish to inform you that we are continuously checking the details regarding not processing of stp from tata india consumer fund direct plan growth to tata gilt securities fund direct plan growth under folio number - 4020846.

Please allow us some more time to review the matter and provide you with final resolution.

Solicit your cooperation on above.

Dear sir / mam,

My self surendra singh jadon and i have purchased tata mutual fund in september 2010, that time i was living at 62/b, jagruti apartment, sector 71, noida-201301. Now since 2015 we shifted from noida to gwalior at our permanent address 910, aditya residency, opposite d. B. City, gwalior - 474011. At gwalior cams office i have submitted address change request with my aadhar card but till date address is not change in my folio. I inquired on the customer care number they are giving sr number and after this i sent my aadhar card, my pan card, my bank passbook, income tax department assessment order still they are not changing address in my folio and telling i have not change address in kyc. When i have submitted request to change address in folio this means in each place they need to change the address. I my all document new address is already updated but still they are not changing the address. Please take necessary action on them.

Reagrds

Surendra singh jadon

+91-[protected]

Hi,

I did online investment in tata mutual fund, it first asked me to do ekyc which i did; and then it allowed me to go for sip of rs. 2000/- per week.

It debited my bank account rs. 2000/- towards sip and two days later it said transaction is rejected with a reason it exceeds rs 50, 000/- per annum. But amount is not credited back to my bank account. When called their customer care, they made me to wait for 45 minutes on the call, yet they did not confirm when they will credit the amount back to my bank account. They do not have any answer!!! Why they debited my account? No answer;
When it is rejected, why amount is not credited to bank account? No answer

If it is more than 50k per annum, why first of all sip was accepted? Subsequently why my bank account was debited? What was the need for it when you know that it crosses 50k? No answer!!!

I have no other option now but to take up this as complaint to sebi

I have never seen such worst service from any mutual fund in my life!

Now you decide whether you should opt for it

Regards

Prashant shanbhag

Sir My folio no is 4544631/39 which is an SIP started from 07 Sep 18 and installment date is 19th of every month. On 19 Sep 18 an amount of Rs.500 was auto debited from my bank Account as 1st installment for which they even sent a statement stating 3.477 units at Nav 143.7965 were allotted in my folio on 22 Sep 18. Till 17 Oct 18 it was showing in my online account but suddenly from 18 Oct 18 it was showing zero units in my folio for which when I queried Tata mutual fund customer care on 23 Oct 18 their response was that the amount was reversed on 16 Oct 18 and it will take some time to credit. When I asked them why they reversed my amount their reply was very odd that the amount was not credited in their account. My 1st question is how can they reverse the amount which was not credited in their account? And 2nd one why it has taken so much of time from 19 Sep 18 to 16 Oct 18 to reverse a certain amount?? My 3rd one why it was happened that after allotment o[censored]nits and deducting amount from my bank account started a reversal of amount process??? Finally sir please make sure that this reversal process should stopped and my reduced units to be added in my account

Sirs,
There is a huge fall in nav of tata short term bond fund on 19/09/2018 and we have lost heavily. We pay the highest expense ratios and yet the funds are grossly mis-managed.
Mr murthy nagarajan was not there? This could have been easily avoided.
As investors, we would like to know the details of this fall and the integrity of procedure followed in investments.

Ref: tata mutual fund
Name : praveen mohan folio number: 3935726/50

Sir

As i came to understand, tata mutual fund has declared dividend to all their mutual fund holders and i am also one among them. But till today, the dividend amount has not remitted to my account. I am not getting any satisfactory answer from integrated tripunithura or tata mutual fund personnel. Both are agreed that the amount is distributed and they gave me a utr number and explained to me it is transferred to the bank. But when contacted with bank, there is no transaction in this number.

Sir, the dividend destribution date is 27/3/2018 and today is 10/4/2018. Till today integrated tripunithura is not able to trace the delay or to inform me anything concrete.

Kindly, take up this matter urgently and the answer me for the revenue loss for all these days.

Hoping to hear from you soon

Praveen mohan

I had donated some units under Tata Young Citizens` Fund to Sulagna Chakraborty , who attained majority on 03/12/2012 .
Folio no.70512/21 .
The scheme still states that attestation of the signature of the donee child
by the donor is sufficient for redemption of the units on mionor attaining the
majority status .
But alas !
For the last six months , we havebeen trying in vain to redeem the units.
The donor , the father and the Bank Manager have attested the signature
of the Donee . She has submitted her PAN CARD & FRONT PAGE OF
PASSBOOK .
Still the documents sent to their Mumbai address returned unaccepted .
The last registered letter no.992 sent to their Kolkata Branch has neither
been returned , nor payment made yet .
Thanking you ,
Yours truly ,
nitai chandra ray ,DONOR .

I have submitted request for change of Signature details but it has been rejected saying that they need proof of old bank details. I don't have any transaction with old bank and account has been closed. Also I had submitted details of new bank account but now they are insisting on proof of old bank account. I'm not getting any proper response from Tata Mutual fund and very frustrated due to this kind of support. Please help.



Regards,
Isaac Sam
Mysore

I have submitted request for change of bank details but it has been rejected saying that they need proof of old bank details. I had submitted details of new bank account but now they are insisting on proof of old bank account. I am a senior citizen, these kind of requirement to unnecessarily delaying and leading to mental frustration, as I am in urgent need of money and can;t be redeemed awaiting updation of my bank account.

Folio # 1408357, Tata Infrastructure Fund.

Regards,
Savitri Saraff/ Ravi Shankar Saraff
Pune
[protected]

Dear concern,

Kindly tell who will be responsible as per below mail for bouncing of cheque.I have bear a loss due to this. How they debit 3 ECS and they didnt find that there is wrong account number at the first time and why it find after 3 installment? kindly suggest and resolve the same.

regards
manoj

Trail mail

On Wed, 19 May 2010 11:50:36 +0530 wrote
>

Dear Sir,


We thank you for investing in Tata Mutual Fund.


We once again wish to inform you that your banker has honoredthe first 3 transactions and later on rejected the other. Hence you need to take up the matter further with your banker.

Should you require any further assistance, please feel free to write back to us.

Assuring you of our best services at all times.



Thanks &Regards,
Kiran.
Investor Services
Tata Asset Management Ltd.
Mumbai.

#T

-----Original Message-----
>From: manoj aggarwal ([protected]@rediffmail.com)
>Date: Friday, May 14, 2010 04:52 PM
>To: [protected]@tataamc.com ([protected]@tataamc.com)
>Subject: Re: RE: Re: Re: RE: RE:'BillPay=[protected]' <.FW.> RE: RE: <.FW.> No Ecs deduction of my SIP of tata infrastruture fund Growth_Q8-32800





Dear concrn,
>
>
>How the 3 debits happen from my accounts when the account number was wrong?
>
>Regards
>
>Manoj aggarwal
>mob:[protected]
>
>On Thu, 13 May 2010 09:55:31 +0530 wrote
>>
>
>
>
>
>Dear Sir,
>
>We thank you for investing in Tata Mutual Fund.
>
>
>the SIP which was given along with the fresh purchase was a rejection due to the reason"Date not mentioned".
>
>Further on we received a fresh mandate in the month of Sep'08 and the same was registered. The creditfor the months of Nov'08 & Dec'08 was successfully received and units were allotted.
>
>Please note that subsequently your Banker has rejected the mandate after debiting the SIP for the month of Dec'08for the reason "Account number differs". Hence there was no debitafter Dec'08.
>
>
>Totally there were three sip instalmentsprocessed in this folio, the details for which are as follows:
>
>1st instalment - 02.06.08
>2nd instalment - 07.11.08
>3rd instalment - 08.12.08
>
>You are therefore requested to get in touch with your banker on the same.
>
>Should you require any further assistance, please feel free to write back to us.
>
>Assuring you of our best services at all times.
>
>
>
>Thanks &Regards,
>Kiran.
>Investor Services
>Tata Asset Management Ltd.
>Mumbai.
>
>#T
>
>
>-----Original Message-----
>>From: manoj aggarwal ([protected]@rediffmail.com)
>>Date: Thursday, April 08, 2010 08:13 PM
>>To: [protected]@sebi.gov.in ([protected]@sebi.gov.in)
>>Cc: [protected]@tataamc.com ([protected]@tataamc.com)
>>Subject: Fw: Reg: No Ecs deduction of my SIP of tata infrastruture fund Growth
>
>
>
>
>
>Dear Concern,
>>
>>I received a letter from TATA MF that the query is solved but as yet my query is still pending....they said that ECS is cancelled due to incomplete account number but my question arise that how 3 ECS was debited when there was any discrepancy the details are as follows:
>>
>>I gave a cheque no. 216982 of rs 1000/- and with this my first ECS was debited on 4/6/08.
>>
>>My folio no. is 2380005/58 FA Code is ARN-0058 and INF_187440 after my first ECS in june my second ECS went on 19/11/08 and third 8/12/08 and after that till date no ECS has been Deducted.
>>
>>If there were some discrepancies it can arise after 1st ECS,How they debited 3 ECS and If there was some problem in account number so whey they didnt noticed at first ECS,How the amount debited from the account for TATA SIP.I bear a loss due to them only.
>>
>>Regards
>>Manoj Aggarwal
>>Mob:[protected]
>>
>>
>>Note: Forwarded message attached
>>
>>-- Original Message --
>>
>>From: "manoj aggarwal"[protected]@rediffmail.com
>>To: [protected]@sebi.gov.in
>>Subject: Reg:'TataMF=327-391' No Ecs deduction of my SIP of tata infrastruture fund Growth
>>
>>Thanks & regards
>>
>>Manoj Aggarwal
>>Mobile:[protected]
>>
>

I sent my redemptoin request with signature attested by the manager of bank as given in original application and where redemption amount has to be finally credited .It was done on basis of advice given by agent and executive of Tata Mutual fund when first redemption request was rejected on basis of mismatch of signature .
I was informed about this after a month after I started asking dealy in making the payment against request.
Later I was asked to get source of fund certificate from bank which I requested the Tata Mutual fund to write directly .
I am now asked to send a self attested ceritificate if bank refuses to oblige .I requested the fund managers that I have given enough documnets to prove my claim is genuine and i am getting a feeling that delay is deliberate to gain some time .The fund authoriies have maintained a complete silence now ...

DEAR SIR,



I HAD JOINED TATA MUTUAL FUND IN MAY THIS YEAR. THE FOLIO NUMBER IS
2485411/60. BUT I COULD NOT REDEEM EVEN ONCE DESPITE SIX ATTEMPTS. KINDLY DO THE
NEEDFUL.

WITH WARM REGARDS

YOURS SINCERELY

A M VERGHESE