[Resolved]  HDFC Bank Mutual Fund — Complaint against HDFC Mutual Fund

HDFC Bank — Complaint against HDFC Mutual Fund

Complaint against HDFC Mutual Fund
Dear Sir,

My name is Tushar Madhukar Jambhekar and I have investment in 4037/ HDFC Infracture Fund- Growth in the name of Tushar Madhukar Jambhekar(Self).



I had given a redemption request to HDFC Mutual Fund on 16th April 2010 At HDFC Bank Chinchwad ,Pune,to representative Neha Jain. but till date the proceeds of the redemption has not been credited to my wife's ICICI Bank Account.

Folio number for the investment is 4686455/09 .

Today is 20th November 2010.but still i have not received anything.
Another side i am contineously contacting HDFC Help line numbers .but from there also i am not getting any satisfactory answer.
Again i visited ti HDFC CHinchwad Branch again ..Bank people also refused to give me any information about my Investment in mutual fund.i don't know whatz happening with my mutual fund investment money.
Moreover, HDFC Mutual fund is not ready to give me interest for the delay, nor are they willing to give me money as per latest NAV.


I have talked to their customer care executives several times, but that is of no use, as I have still not received my redemption amount.

Sir, I need this funds urgently and after no help from HDFC Mutual fund I am knocking your doors.

I am writing this mail to you on the faith that you will help me get justice for the same.

Awaiting your reply,
Thanking you,
Yours truly,
Tushar.jambhekar

Dear Consumers,
Please do not fall into the "HDFC Monthly Income Plan-Long Term Plan-Monthly Dividend Option" trap and invest here. I got conned into this investment and put in 5 lac rupees. within a couple of months the NAV dropped and now I am losing money. I was also told that I would earn about 12% on this so called investment. I have kept very detailed records on this and I confirm that the return is less than 6% -and if HDFC claims the fund is not doing well, even your monthly peanuts is not guaranteed. Above all your entire principal amount is not guaranteed.

So please stay away from this HDFC mutual funds -the agents are paid a high commission on this. That is why they are pushing you to invest in this rubbish.

Jacinto Godinho
HDFC Navelim Goa Branch

HDFC is cheated me also almost like this. I lost my money. Please do some thing for this. Lot of people would have lost their money but not even know where to compliant.

I had submitted my redemption request but the amount has not been credited to my SB A/o no.[protected] till date. Enquiries made have yielded no result.

SATISH KUMAR SRIVASTAVA