Unit Trust of India Mutual Fund [UTIMF] Complaints & Reviews

My mother has been depositing yearly instalment for ULIP changed to UTI Mutual Fund
With the time span of 10 years which expired in April 07 in my name.Now redemption is due on April 08. It is more than 6 months and I am yet to receive payment which used to be done automatically.The payment due to me may be paid immediately or Convey me the reason for holding payment till date.
Redeemption o[censored]TI mutual Fund Investor ID 18165761

Regards
Aparajita Deshpande

SIr,
UTI had forwarded an interest warrant[protected] dated 02 Apr 08 to my address. The same was not delivered. I had requested for a fresh cheque vide complaint letter NIL dated 05 Jun 08 at UTI MUTUAL FUND Office DEHRADUN. I am yet to receive the cheque. Details of the case are as under:

FOLIO/ ID NO:[protected]
Interest for period 1/10/07 to 31/03/08
Amount 5415.31
Bankers A/C No [protected]-3
SBI, Main Branch
DEHRADUN

I would request action on the case please.

Non-receipt of Account Statement o[censored]TI Infrastructure Fund after conversion o[censored]S 64 Bonds.
INVESTOR ID No: 38913051
US 64 Bond Certificate No.17013043

The US64 Bonds conversion was effected by UTI vide
their letter No.REF. NO. 57046715 dated :23 DEC 2007
Dispatch Sr No:[protected]-7850 informing me as
follows.
"The above net amount has been converted to the scheme/(s) as requested by you and the details of the same are shown below .
Scheme Name Amount (Rs.)
UTI -INFRASTRUCTURE FUND 5221.00"
But I have not received the Account Statement for
the UTI Infrastructure Units which were supposed to have been purchased by the redemption amount.

I have written/ sent emails to UTIMF/Karvy umpteen number of times but the AS has not reached me yet. My requests for early despatch of AS is shuttling between UTIMF & Karvy.
The Fund house is silent and Karvy has sent the AS of another transaction without looking into the document copies I am sending them. Fund house cannot absolve itself from the responsibilities of customer care though
they have out sourced the jobs to Karvy.The matter remains unresolved from December 07 ! UTI and Karvy must act immediately to send me the AS at the earliest.

My son named Himanshu Kumar Barua represented by self(father) has been allotted with 226 ARS bonds of face value Rs22600/-against bond certificate No 41823216 with investor Id No[protected] against which interest amount amount due in Apr 08 and Oct 08 has not been received till date. Also, mailing address has not been changed even after doing correspondance with UTI offices at Belapur, Mumbai and Rajendra Place, New Delhi twice. Kindly accord priority to this request . New mailing address : Himanshu Kumar Barua, C/O Mrs Krishna Bose, Flat No 146, Suraj Apartments, Surajkund Road, New Delhi - 110044

Dear Sir/Madam,

I am Dr. Ashok Kumar Das from Airoli, Navi Mumbai. I am writing this email in order to report the harassment I have been facing in the hands of the desk personnel of Karvy Computershare at Mumbai.

Karvy Computershare has been entrusted with the responsibility of handling the ULIP scheme of the Unit Trust of India.

Although my ULIP Membership No: UL[protected]Investor ID:[protected]; Folio No. [protected]) has matured on 7 July 2008, the desk personnel of Karvy Computershare Pvt. Ltd. have been creating all kinds of excuses in making the maturity payment to me.

I have sent the copies of the relevant emails exchanged between me and them (Mr. Sunil, Ms. Divya and Ms. Madhura Mala of Karvy Computershare) and also the physical request letter (as instructed by Mr. Sunil, and submitted at the UTI's Vashi office) to Karvy Computershare and also to Unit Trust of India.

I have requested both the above companies to look into the matter immediately and make necessary arrangements so that the maturity amount is paid to my Savings Bank account at Thane Janata Sahakari Bank, Sector 8, Airoli, Navi mumbai.

But no reply has been received from either Karvy Computershare or Unit Trust of India.

It seems that the two companies are involved in doing financial fraud on public money, especially on the poor middle class investors.

Thanking you,

Yours sincerely,

Dr. Ashok Kumar Das.
Email: [protected]@yahoo.co.in

Unfortunately I had invested in US 64 bonds many years ago and was waiting for redemption from April 2008.I had given my account details to UTI branch at Chennai T. Nagar.This included cancelled cheques, a bank letter confirming my accountship which all had highlighted my bank account number.
Despite this, my bank received warrants from UTI with wrong bank account details.The ECS they tried never worked as they had used wrong bank account number. This was highlighted to them several times through several emails with different kind of responses.
The 24 hour Karvy line asked me to con tact them during day working hours only for details!
Due to work commitments, I tried to manage this online by sending a scanned letter of request but received no reply(letter attached).
The ultimate authority in Chennai for US 64 is supposed to be UTI technologies and it takes at least six hours to get through to them by phone and one gets a very surly response from them.
I am a busy professional hence I had to take leave and go to UTI Techno where I handed over my letter, the warrant cheques with my wrong account number and letter o[censored]ndertaking for duplicate cheque issuing with my Bank ratification on this transaction.
Several years ago as an innocent investor I put my hard earned money into US 64 expecting something from you.Neither has your returns been spectacular and your service has been substandard.
I have been investing for many years through many mutual funds and never have I endured this kind of poor service.
I need my redemption proceeds sent to my bank by ECS immediately.
I also need COMPENSATION for the time and money I had to consume to get to this point in getting my redemption as it was your duty to check the requisite data prior to sending it.
Suffice to say I will NEVER AGAIN invest in any scheme o[censored]TI and I will advise all my well wishers, clients and near and dear the same.
Thanks,
George.

I the son of Late Mr. Biswajit Saha submitted all documents in Borivali Branch on 08th March 2008f or death claim.But till day neither it has been processed for death claim nor i am able to get any proper response from UTI for the same. I have already went thrice to Borivali Branch to know the status but always they give some excuse that the concerned person is not available etc.The Karvy people are pathetic.There services are very poor. Can someone help me in this?

RESPECTED SIR,

we have changed our resdence address
our old address was:
flat no 102 h no 1-1387/17 (236new)
jayasree sadan
gandhi nagar
hyderabad 50080
change this address to new one:
flat no.102 h no.16-2-705/52x26/102 VENKET SAI RESEDENCY
new malakpet (andhra colony)

I have taken UTI infrastructure advantage fund-series-I of Rs.10, 000 on[protected]. My folio no. is[protected].
I want to take the facility of online transaction, so I sent the I-Pin application form through courier on dated[protected]. After one month I sent the email to you for non receipt of I-Pin, but after 2-3 email I have not received any reply.
Then I have made the complaint on website of customer care o[censored]TImf on[protected] with ref. no. #4/WC-1803/1 but no action and no reply then again complaint with ref. no. 5/WC-2547/1 dated 3-5-2008 and receive a reply that this is under process.
I have not got any response so again complaint vide ref. no. #6/connect-1252/1 dt.[protected], #7/WC-5270/1 dt. 9-7-2008 and #7/WC-5826/1 dt.[protected] then receive only one reply that the request is under process.
After waiting for two month I again lodged complaint with ref. no. #9/WC-6746/1 dated 3-9-2008 then receive a reply that “we have dispatched on[protected] through reg-post”-how it is possible, if you have sent this in the month of march08 then why have you reply on 3-5-2008 and[protected] that this is under process.

US-64 Investor ID No 1817892 / Bond Certificate No 195502 - Number of bonds 106 matured on 01.06.2008.
My address & bank account details have already been communicated in writing to UTI Inv Services Ltd Belapur Branch. Till date the cheque of the maturity amount of the above mentioned bonds (@ Rs 10600/-) has not been received.
My address & Contact details & Bank Particulars are here as under :

Shibendu Choudhary
Deeya Apt, Plot # 53, Sector-19, Nerul, Navi Mumbai - 400706
Cell No [protected]
Bank : ICICI Vashi Branch / AC No[protected]

Membership no:[protected]
no o[censored]nits 1500
name of memberchild POLISETTI RAMYA
DATE OF BIRTH 29/09/1989
name of the applicant POLISETTI UMA MAHESWARI
D NO 16-26-1/4, E S I HOSPITAL
III STREET, VENKATESWARA NAGAR
KAKINADA
EAST GODAVARI DT
name of alternate child UR000126
DATE OF MATURITY 25/07/2010

Sub: - Non- receipt of Repurchase Proceed
Ref: - MNC Fund I D No[protected] New Folio [protected] )
Sir,
I was having units of MNC scheme under ID 1820801. The details of holding are as under: -

S.N. Name of Holder Units Scheme

1 Shambhu Dayal Sinvhal 1657.085 MNC Fund



Till date I have not received the repurchase proceed. The Dehradun office has informed that your cases have been processed on 06.11.2007. I also applied for issue of duplicate warrant of this amount as per your suggestion during the mid of march 2008. I However it has not been received so far. I have contacted to my broker & also written to UTI office D Dun on phone or by letter . But I am very sorry to inform you, that more than 10 months have been passed . But any favourable action is still awaited . I am senior citizen & my age is more than 80 yrs old. Last days II was suffering for illness & I require the money for my routine
Medical requirements.

You are requested to take an immediate action because it is already late more than 10 months. This is my last request otherwise I am free to take action against you at appropriate level .


Yours Faithfully

(SHAMBHU DAYAL SINVHAL)

Hi sir/madam,

I have not received the interest for 2 Years for US-64 Bonds (2006, 2007) i.e Gratuity . it is lying in the Error in processing status with the company for the last 3 years . I had Vistited the ITO office in the delhi nearly 10 times but in vain . The contacted person is Mr. Malik . Kindly help me in getting my interest.
Investor Id is 89547890
Name Is Jasbir Kaur
Phone Number to contact [protected]


Regards
Gursimran

Dear Sir,

Please note that I am holding two UTI US 64 Bond certificates bearing nos.[protected] units of Rs. 100/- each = Rs. 17, 700/-) ID No. 54111738 and certificate no.[protected] units of Rs. 100/- each = Rs. 6, 600/-) ID No. 52872103.

I have deposited both the certificates in the Kolkata Office o[censored]TI through my agent on ist week of June '08, but till date I have not received the cheque for redemption of Bond along with interest for the period from 1.12.07 to 31.5.08.

Please look into this matter and sent the cheque at the earliest at the following address.

Thank you,

Tapan Kumar Sett

Address:
334, MAHARAJA NANDA KUMAR ROAD (SOUTH),
KOLKATA - 700036,
West Bengal

My certificate no[protected] in the name of my son shravan kumar.
I had several mails but so far there is no response at all. i tried contacting your chennai office but they do not pick up the phone at all. can you give please keep me posted on this. i have sent the original certificate signed by my son and attested by the notary alonfg with the xerox copy of his bank statement so that you could send the cheque.
kindly look into at the earliest.
Regards
kala srinivasan

SIR,
I AM ASHWINI MADHUKAR SONAWANE .FOLIO NO.[protected]. I GET ACCOUNT STATEMENT UPTO3-APR-2007 THEN NO ANY COMMUNICATION . I WANT DEATAILES, REFUND MY AMOUNT. FOR CONTACT MY MOBILE NO. [protected] .SEND THE POLICY DOCUMENT'S TO MY NEW ADDRESS 25, SHREE NAGAR, CHITOD ROAD, DHULE .PIN CODE 424 001

I had 1000 units of MEP1995 & 1000units ofMEP94. in 2003, i opted for conversion to UTI MEPUS units which were alloted to me.I send redemption request for these units in August 2007 but have not received the redemption proceeds till date. Karvy states that they are not able to trace my units . How is that possible. I sent the statement of account given to me by UTI. Please let me know the future course of action.

I was the holder of 600 units o[censored]S-64 scheme o[censored]TI vide cert.Nos.[protected] (200 units) and [protected] (400 units) as on 30, 06, 1993. The UTI declared a dividend of Rs. 1560 on these 600 uuits but the concerned official, instead of sending the dividend warrant (No.[protected]; MICR> no. 342440) to me at my usual address, sent the same to some other Mrs. Urmil Gupta at her address 21A, GH-10, Sunder Apartments, Paschim Vihar, NewDelhi, and she got the saame credited into her account No.8535 with Panjab Sind Bank in Paschim Vihar, New Delhi. When I did'nt receive my dividend for two months I contacted the UTI and they told me that the relevant dividend warrant had already been got encashed at Panjab Sind Bank, Paschim Vihar, New Delhi. When contacted this Mrs. Urmi Gupta of New Delhi admitted having received and encashed the said warrant but insisted that she was the rightful recepient of the amount relevant to the certificates which she was holding and that I should get in touch with the UTI to get my problem solved. It is pertinent to note that the dividend warrant counterfoil carries the certificate nos and the folio no. of the relevant holder and had she cared to tally the nos and folio no on the counterfoil with those mentioned on her certificates which she claimed she was holding, she would have realized the mistake. In any case the mistake was in fact on the part o[censored]TI who sent my warrant at her address. Since than I have been writing to UTI in this regard at different intrvals but the UTI never showed the courtesy of even acknowledging my letters what to speak of redressing my grievance.
Then durinf a visit to Chandigarh (3274, Sector 15D) din 2006, I personally visited the office o[censored]TI and expalined the who case to one of the officers there. As advised by him I submitted all these details to him vide my letter dated 02.09.2006 The gentlemaan assured me that he woud forward my case to the concerned quaters for further necessary action. Next month the UTI Technological Services, Plot No 3, CBD Belapur, New Mumbai, vide their letter UTITSL/ICC/legal/US64/2006-07 dated 16.10.2006 informed me that they had refered my case to their New Delhi branch at 174, Ist Floor, Rajendra Bhawan and I would receive a reply directly from tham.
When no reply was received even ater more than a year, I wrote an e-mail to that office on 19.12.2007 giving a reference to their New Mumbai office letter and requested that my due amount wlongwith interest be paid to me. As in the past, no reply was received . Once again I sent another e-mail on 24.03.2008 to this New Delhi office but again there has been no reply even after more than four months.I am a senior citizen who is fed up with the callous attitude o[censored]TI. Can you please help me in getting my due>
Urmil Gupta
558, Sector 15A, Hissar-125001 (Haryana)

I have not received UTI master share warrant inspite of me sending Letter o[censored]ndertaking for Issue of Duplicate Cheque in the month of April 2008 as per their profoma letter on judicial stamp paper of Rs.20/-

Sandhya ashok memane had baught the children growth fund in year 1988-89, for her childs 1) Swapnil ashok memane 2)kavita ashok memane.
Maturiyu date for that is 4/7/2008.
But yet we have not recievrd any of cheque or payment for that not even any letter from u.
actually our address has been changed.
Changed address is -Roopali Corner, Old octroi naka, flat no-12, chinchwad, pune-33.
So please kindly send us any information and our payment as early as possible.