[Resolved]  HDFC Bank Mutual Fund — Redemption of SIP

Address:

Jalandhar, Punjab

Dear Concerned
This is regarding the redemption of my HDFC Mutual fund. One year back I had applied for two systematic plans of HDFC Mutual Fund for Rs.1000 per month respectively wide folio number 5200528/90. On 27th december 2010 i had requested for the redemption of the same the amount of redemption told to me was Rs.13,318 and Rs.13,136. I duly asked the executive sitting there that I had paid this SIP from my SBI account and will the redemption will be done in the same and even at the time of application the same was communication to the executive. But i am without my notice they redeem the fund in to one of my old account with kotak bank which i dont carry since last 3 years and dont even had any credentials of that account as was running some issues with Kotak bank, On asking the reason they said it was updated in your account when u previously had a SIP with us. thats around 3 years back.

I am strange how come such a renowned brand can make a silly mistake like this and due to that i had suffered a loss of 8000 which were debited by Kotak bank from my amount.

Sir Request you to pls look in to the matter,.

Thanks and regards
Nippun Cheetu