[Resolved]  ICICI Bank Limited, Vasai Branch — LOSS OF RS.[protected] DUE TO NEGLIGENCE OF OFFICE BEARER

Address:

Mumbai City, Maharashtra

Dear sir/ madam, My son, Master Chinmaya Chandak, is holding savings accounts with your vasai branch where in I am guardian. One sales person for Mutual funds insisted me to invest in by way of SIP in the said account telling me that whenever I want to redeem I have to submit the application in vasai branch only. I started SIP in the said account by March 2010, then in Oct. 13 I want to redeem some of the mutual funds I submitted the application in Vasai branch stating to redeem the units purchased till 12.10.2012, then also all the units purchased till 12.10.2013 get redeemed, I have to SHORT TERM CAPITAL GAIN of Rs. 150/ approx. as the amount was minor I ignored the same by just giving the complaint on the same. In Oct' 2013 I got funds in 4 days after submitting the application. On 12.12.2013 I submitted application for redemption of balance units I hold in another folio, but surprisingly this time bank officials refused to accept the said application, but when I told them in last month only I submitted the application here, then they accepted the form. When till 19.12.2013 I did not received any mail of redemption, I contacted to customer care of icici prudential mutual fund amc, I was shocked to hear that they are not in receipt of the said application till the time. You might be knowing that market is continuously on downtrend, in these span of 7 days, working 5 days the rates of mutual funds got eroded by RS. 2 AND RS. 0.60 RESPECTIVELY (UNITS 675 AND 1250 RESPECTIVELY Then I approached the branch, the official told me that on that day only we refused to accept the said form, now it will take around 15 working days to process. It was just hopeless answer I got, I am privilege customer of the said branch, but I never got the treatment of the same.