ICICI Prudential AMC Complaints & Reviews

Reg: Folio no. 152114/43

Myself ( Subramani K.V. ) and My Mother ( Mrs Kamla Vishwanathan) are the joint holders of the above folio.

on 31.12.2020, we had submitted the following documents to your Ghatkopar Office, Near the Ghatkopar Station.
Shri Pramod ( mobile no.[protected]) received these forms.

1. Name change request duly signed by us along with PAN CARD and Aadhar Card of both the holders.

2.KYC documents along with PAN CARD and Aadhar Card of My mother ( Mrs Kamla Vishwanathan)

3.Mandate change form along with the copy of the cheque for change in Bank account no and Bank.

4, . Form for KYC updation.

Due to certain unavoidable circumstances and restriction of Covid. I could not got to Ghatkopar Office for checking KYC updation.

Yesterday ie on 17th June 21 visited your Ghatkopar office for redeeming the units, though the office was closed . I requested the front desk whether the KYC has been updated. After going through the system he informed in the negative.

I told him i have not received any letter, email or call from your office for any shortfall in submission of documents.

I was quite surprised, I never could imagine people working in ICICI can keep it pending for 5 months, which boosts of professionalism.

it is the same as government sector.

Please inform me how along my KYC will be updated, Mandate will be changed, Name will be changed.

Hoping for a quick response from ICICI.

I have been receiving emails for Folio[protected] which I have never availed. No response from ICICI prudential team even after mailing them.

Fund name icici mutual fund
scheme icici-premier
regd folio pg10167949
certificate no. 00583538 dated 7th february 1994
100 units of rs. 10/-each
not in record

Investment application made in ICICI Prudential Mutual Fund without my consent.

amount of 3999 INR was deducted by a so-called broker with whom I had made no such commitment.

While it is possible to get the refund from their website this is totally unprofessional and unethical behaviour and I require an explanation.

the mail I got:
Thank you for your investment application made in ICICI Prudential Mutual Fund. We confirm that your investment application in ICICI Prudential Short Term Fund - Growth Option under folio no 17076713 has been processed for Net Asset Value (NAV) of 15-Mar-2021.

ICICI Prudential Mutual Fund — Folio No. 5533151/60

ICICI Prudential Value Fund Series 13 Direct Plan Dividend Redemption 04-Jan-2021 Processed 10, 000.0000 11.9524 119522.8

Maturity Money processed but not received even after 2 months.
After repetitive follow-up and complaints also, I get the reply "Your complaint is under process, we shall call you back shortly"

Above mentioned in subject my Policy / Folio No. 838228/41, i have
submitted my KYC documents with FATCA form to your Fort Branch to Mr. Shrikrishna on Monday (1st February 2021), but till now my KYC is not yet updated after 16 days ?? When I have submitted my documents they say within 3 to 4 days it will be done. Unfortunately till now nothing has happened.
Please note i need money on urgent basis because of that i am surrender policy.

Now I would like to know what is the status of my request??? if you
have any query please let me know on my mobile no [protected]

Looking forward to seeing your quick response.

Regards
Praveen Jain

In folio 15772364 on 18th December investment was made from NRE bank account but after switching of funds they put NRO bank account for redemption.
They are not checking the source of fund of transaction ID Transaction ID:15497240.
I have been writing to them [protected]@icicipruamc.com for last 2 days but they keep ignoring.
Today I also wrote to [protected]@icicipruamc.com

I wish to get it redeemed.will you pl send the net value as on today and the process for redemption
Power unit certicate number. 125693 distinctive number 62443701 to 62443800
125694. 62443801 to 62443900
125695. 62443901 to 62444400
Folio number. POG32163

Dear Sir,
My ICICI Pru Signature plan, policy number is 45520654. And writing continuously to get the solution, as the premium is coming very high. Your staff told me, this policy is one time investment and no need to pay any premium. Now I can not pay this much premium at a time.
I didn’t get any message after commencement of my policy because the phone number, email ID was not updated by your sales manager and had put it wrongly.
2. Because of your staff I am suffering now.
3. Because of your staff, till now I didn’t get any policy kit or detail from your office till now.
4. If you can, please help me to shift my policy to any other less than 1 lac policy.
5. If possible, please investigate, why is your staff Samadrita did this to me and left the job ?
If you can shift my policy to other less amount, I will be greatful to you.
With regards

I have invested my money in paytm money app in ICICI mutual fund. After some days of redemption of that fund I have not received any money till today in my account. I check my account balance daily to see my balancing account is correct or not. I have invested in two mutual funds. One mutual fund has given my money back and also I have received the message and mail both that my money has been credited to my account. No message or mail nothing has been come from ICICI mutual fund that I have get my money. No message no mail but showing in paytm money app that amount has been credited to my account. Why this happened to me. Tell. And give my money baack please I have some work and shortage of money. Please give me my money which I have invested in ICICI mutual fund. Please give me my money back. Please. U can see the photo I have attached.

Sir.
I am Additional purchase Rs. 5000/- in folio no 16421758/56 not show.
No response in my complaints
Bhupendra shah

I have purchased 500 quantity of MF. The original documents are misplaced and not traceable. I have lodge a local police Complaint. Now what to do ?

Folio No ‐ 5533791

Redemption Request raised on 6th Oct to redeem.
But they credited to my ac after 13 days.

They skipped to process so asked RM that either to stop or they suppose to give me as per delayed higher NAV date.

there was a delay in payout after redemption.

So icicipruamc to provide me interest for the delayed credit to my ac of 13 days or calculate NAV for the credited date and still balance amount to credit my ac.

Regards
Vipul

I invested since sep 2016 till date rs 5000/- per month as sip in this scheme from icici prudential - value discovery growth fund. The fund has been showing very good performance and returns upto 15-18% in the past. However, i have been watching the returns and it has been very low from the investment. The amount invested and after returns, the current value is showing hardly 1-2% return in the span of 4 years. Why is this cheating behavior? I have invested in other similar funds in the past with the other companies and have always got a fair return. The market was a little downside during start of corona, but otherwise it has been performing well. Then why so low returns? Normal bank deposit would have given me a better return on savings. Where is amount invested going? Who is eating up? Please provide a fair response, the trust is lost hence please provide a justified response in favor of customers.

Problem of two times debit is for folio[protected] i.e purchase was
done for ICICI Top 100 fund.
Now Top 100 fund has been renamed as "Large & mid cap fund". It is
one & only one fund under one folio- 8079079.
But you are clubbing another folio-1526903 i.e. "ICICI mid cap
fund" it is only "mid cap fund"
2) Two different funds i.e. "ICICI large & mid cap fund" AND "ICICI
MID CAp Fund " can not be put & transacted under one folio.e. 8079079
as stated by you.
"ICICI large & mid cap fund" AND "ICICI MID CAp Fund " are two
different funds under two folios i.e. 8079079 & 1526903 respectively.
Kindly reconcile.
3) There were two independent transactions on same date 21/08/2017.One
for folio-8079079, ICICI Top 100 fund (now large & mid cap) for Rs
100000, banker is Yes Bank.
And another for folio 1526903, ICICI mid cap for Rs 10000, banker
is ICICI bank.
These two cases can not be clubbed together.
4) It is quite clear as per Principal Nodal Officer of Yes bank that Rs
10000 were credited by Yes bank on 21/08/2017 in your Pool account No.
[protected].Now money is with you. Do you want to deny it or
accept it.
5) Yes bank account statement showing two times debits of Rs 10000, as
demanded by you, already sent.
6) I fail to follow where is the problem regarding refund.
7) I again say that Rs 10000 are lying in your pool account No.
[protected] as said above, so, pl refund the money or you deny of
not having received.
8) I am requesting ICICI Pru AMC for the last 3 months but neither refunding Rs 10000 nor denying having received in their pool account No. [protected].
9) Complaint NO. 15120842 & 15192355 refers to.

Dear sir,

I am retired person and have invested my hard earned money to have retirement monthly expenses for my self and family to run the house hold.

The dividend from april to july 2020 month are not been paid.

Made several attempts to report, escalate & re-escalate this to icici mf ceo also but more than 3-4 times they have given standard copy paste answer and no confirmation for dividend date. My condition is very bad suffering on account of non receipt of funds and unable to service my house hold expenses.

Please ensure that dividend is paid each month with immediate effect
And recover the loss of these 4 months funds month as we cannot afford to nav and dividend. Please note that april to july lost dividend has to be covered.

Please help retirees like me to sustain our monthly expenses and
Recover losses for the last three months.

Thanking you in advance.
Rajeev k

I have invested in their equity and debt fund monthly dividend option and they have not declared a dividend for the month of april '20& may 20 as well. Upon asking i got a reply that they dont have distributable amount because of market conditions covid19 etc. And they may or may not declare the future dividends. My complaints :
1) they have not published news on their website regarding skipping of dividends!!!
2) when fund is named as icici prudential equity and debt fund monthly dividend option then why they are skipping the dividends?? As they are the experts in the equity & debt market they should act according to market volatility and should payout dividend on monthly basis!! They can reduce dividend amount but skipping the dividend altogether is arising lot of questions in my mind.
3) if they are skipping it for now then how they are going to compensate it when they are having enough distributable surplus in near future once things gets normalize they have not answered my question.
Emailed several times but i couldn't get satisfactory answers pertaining to my specific questions.
This is not at all acceptable to me.

The following is the complaint letter addressed to Service Head, ICICI Pru AMC, but unfortunately no reply till date. Also the Customer Care no. is not receiving calls. A Sr Citizen like me is in great difficulty (short of money) during Covid-19 pandemic.
[protected][protected][protected][protected][protected]------
Service Head -(Investment Relationship Manager): Contact no.[protected], Customer Care no. [protected], Service Head email ID: [protected]@icicipruamc.com)

Dear Sir,

Ref. my MF : ICICI Prudential Credit Risk Fund (Growth), Folio no. 6263580

Request your goodself to go through all the trailing emails from me as well as from your office. Since I did not get any reply from Service Head, ICICI Pru AMC, so I am approaching your good office for a solution to mitigate my hardship.

To brief you let me say that it is more than a month since 12.03.20 (redemption request raised), but I have not yet received the redemption payment credited to my bank account. From my end I had to change my bank details which I have promptly done by visiting your south Kolkata office at P.A. Shah Road, Kolkata on 17.03.20. The next day on 18.03.20 I got an email confirmation that my latest bank details have been updated (your email attached). I was told by your executive during my visit that I can expect the NEFT transfer of the redemption amount in next two day i.e. by 19.03.20.

But till date this has not happened and I am deeply in trouble of not having the redemption amount credited to my ICICI savings bank account.

Here I would like to draw your attention to your email dated 08.04.20 (see below this email) which has stated that the redemption cheque has been despatched. By tracking the Bluedart courier POD no: [protected] given by you, I found that the cheque was picked up from Chennai on 18.03.20, due for delivery on 20.03.20. The current status says “Delay caused beyond control”. See the tracking report attached. This means the cheque could not be delivered. So I presume that either the cheque has been returned to you or the Blue Dart courier might have informed you about the delivery status. But I am surprised that your executive before replying to my email query on 08.04.20, has not mentioned about the status of delivery of the redemption cheque. So my complaint on the redemption amount not paid vide my email dated 07.04.20, has been redressed with the correct information.

As far as I know that the cheque so issued can be cancelled by instruction to the cheque issuing Bank. I have also done so in the past.

May I therefore fervently request your good office to cancel the cheque issued and instead remit the redemption amount by NEFT transfer to my ICICI savings bank account. I think this is possible digitally even during the lock down period.

Hope that you will appreciate my difficulties being a Sr. Citizen (woman) of 65 years old waiting for the redemption amount for more than a month.

Kindly reply by return email confirming your kind action as requested.

Best Regards,

Jayashree Ghosh
Mecon Tower, Flat- D4
357 Prince Anwar Shah Road
Kolkata-700068, India
Phone no. +[protected]
Cell Phone No. +91 [protected]
[protected][protected][protected][protected][protected][protected]
Request your goods office to take up the case with ICICI Pru AMC appropriate Authority for favourable solution.

My icici prudential bluechip fund folio no. Is 14944204/12
I invested 5000 rupees in this fund and proceed redemption at 4 march 2020 but it is no proceed by iprutoch app
Then i proceed switch (That means close)
But it proceed nothing and then i again redeem two time at 5 march
Then again redeem 6 march, 7 march, 8 march, and 9 march
Then the reedem of 9march proceed and the value of nav at that day is very low
But they automatically proceed redemption at 9 march and my amount get 400 rupees less

So this is due to the fraud of this app
I tried redemption process by imobie app and iprutech app but when i call to imobie app customer care then they said about iprutech customer
And i tried it many time but they cut my call all time

Icicipruamc is not able to serve the customers and there is always a problem to invest in the mutual fund thru their website/app
.
I have given on their website multiple times by calling and sent error screen shots, but there is no resolution.

When we want to invest/redeem, the website do not respond, shows strange errors during peak hours from 2pm to 3pm.

They know that they have technical issues which is pending from years, but cannot resolve it.