[Resolved]  Karvy Computershare Pvt Ltd — Change of bank details ignored new bank details not updated and redemption done in old bank account

Sir, I made a request to Karvy computershare for redemption of SIP. In their form of redemption I requested for change in bank details with redemption all the details were furnished but they didn't made the changes and credited the money in my old a/c as a result the bank deducted all the charges as the a/c was not operated since one year.

when I reached to the regional manager ( karvy computershare ) he said You applied for redemption with change of bank detail. these two thing are diferent one is cash transaction and another is change in bank details as you did not supplied the necessary proofs so we didn't processed for bank change.

My Question is if the application was not supported by necessary documents then why they proccessed for redemption they should have kept the form on hold and could have intimated me in Written my corrospondence address is menioned in the folio.he also said I can take action against them.

The only reason of this mistake is their staff didn't checked the form properly and punched the application for redemption. and when they saw that they have made a mistake they sent me a letter after making the redemption that your A/c details cannot be changed.

Attached are the Copies of Application form and letter from karvy