[Resolved]  Reliance Mutual Fund — Non allotment o[censored]nits in SIP instead of deduction of contribution

Address:

Ahmedabad, Gujarat

Hi,

I have been following up with the officials of Reliance Mutual Fund but the officials are giving deaf ear on it. I had an SIP with Reliance Mutual Fund which used to get direct debit from my account.

I decided to stop that SIP and the same was confirmed to me in writing that the SIP has been stopped on my request w.e.f.10/12/11. However, inspite of all the facts, again there was a deduction towards the SIP on 10/12/11 for Rs.3000/- but this time the units were not credited to my account.

Initially the officials denied about the debit from my account but later on when I send them my bank account statement then they confirmed the deduction and non alottment o[censored]nits in my folio and a choice was given to me between the cash refund or units in my account and I chose to have units in my folio account. The same was credited to my folio immediately.

However, after some days when I checked my folio statement the units were reversed i.e. the units which were credited after so much of efforts and clarification were taken back from Reliance Mutual Fund without any intimattion.

Again I complained to Customer care and as per their instruction I sent them the documents on 07/02/12 and in response to that I got a mail on 13/02/12 that my complaint will be handled in 7 working days. When I didn't receive any response then I tried again to Reliance Mutual Fund's customer care and they informed that the status is not updated and they will revert.

Then my issue again resolved on 22nd Feb and units were again allotted. Now when I checked my statement again the same are reversed.

But fact is that after 4 months time also they are unable to resolve my issue and not even responding. My account was debited and now they do not bother to verify their own verified status of my folio.

I am fad up because of this.

Amit Sharma
[protected]