[Resolved]  Taurus Asset Management Co Ltd / Taurus Discovery Stock Mutual Fund — complaint against the delay of service and lack of communication in Karvy mutual fund services.

From
S.B.Senthilkumar,
13,North Masi Street,
Madurai.
Tamilnadu
Pin:625001
Mobile no-[protected]

To
Taurus Asset Management Co Ltd,
New Delhi.




Sub: complaint against the delay of service and lack of communication in Karvy mutual fund services.


Respected sir/ Madam,

I have invested a sum of Rs. 50,000 in Tauras Discovery Stock Mutual Fund and have purchased around 1658.375 units on 19th December, 2007 at Madurai. My folio number is :[protected]

But due to my financial constraints I have closed my account on 8th January ,2008 and have given the required redemption slip duly signed by me to the Karvy mutual fund services.
at Madurai branch, but they have issued time stamp without noticing that my name and Folio number was not mentioned in the redemption slip. I waited for 10 days for a reply from the company. Later I was told that due to printing mistake from Tauras Asset Management Co Ltd at madurai, the folio number was not printed in my slip hence I couldn’t get my money back. This has caused a huge financial constraints in my business and mental pressure in me.
I was informed about the correction only on 25th January, 2008 through a letter from the Karvy mutual fund services and I could not get the money back. As an investor I condemn the lack of responsibility from the members of the Karvy mutual fund services in issuing the redemption slip without the correct data. I request the concerned authorities to consider my problem and make sure that you issue my amount as early as possible.

Note:I have enclosed a copy of account statement of taurus mutual fund along with this mail



Place-Madurai
Date-05.02.2008
Yours truly,
S.B.Senthil kumar