ICICI Prudential AMC Complaints & Reviews

Dear Sirs,

Refer subject above and my earlier mail to your registered email ID ([protected]@icicipruamc.com). The redeemed funds have not been credited to my bank account yet.

I should have had this amount in my bank account on 29 June'2021 like the ones i received for my Wife and daughter. My bank account is registered with ICICI PRU AMC and should have been directly credited.

Expect an immediate revert with details of fund redemption..

Regards
V.P.Sreejeev

I am not able to redeem my units of Value fund series 19, due to very clever malfunctioning of the email & OTP messaging system of the ICICI prudential . Their timing is perfect, the customer receives all email messages correctly at the time of purchase of the units, but at the time of redemption none of their email messages / OTP delivery system works for you . They have their own methods to shift your matured close ended scheme funds to some other scheme, all WITHOUT YOU GIVING YOUR CONSENT for it. The absence of communication by the investor ( first of all the investor is not aware of their smart move ! ) to some obscure email that they have supposed to have sent to you ( delivery of which is again conveniently not there ), will entitle them to shift your closed ended scheme's maturity proceeds to some other scheme of their choice ?? What is SEBI doing to protect the investors against such giant frauds being conducted by the so called reputed companies ??

I redeemed MF 9715641/25 on 15-Jun at 14:56 hrs. NAV was 14.65 on 15-Jun.
Now ICICI gave me NAV value of 24-Jun which is 14.45 threreby giving me 10233/- less.

Please honor my redemption date of 15-Jun and credit the 10233/- ASAP to my account.

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.