[Resolved] Zerodha — unable to redeem indiabulls liquid fund

Subha Bhaduri

from Hyderabad, Telangana

Address:	Hyderabad, Andhra Pradesh, 500049
Website:	coin.zerodha.com

My zerodha id is zd1794.

I have a total of 61.332 units (Inr 100168.85) of indiabulls liquid fund direct (G) in my zerodha portfolio.
As per amc policy i should be able to redeem a minimum of 1 unit or inr 1000 anytime.
But zerodha says i have to redeem all of 61.332 units.
Upon requesting for the same it's being rejected multiple times with a rejection mailer stating that the units are not in the depository.

Please process the redemption request as i need that fund immediately, there is a reason i kept my money in liquid fund and that is liquidity.

Did not expect this basic problems in a renowned broker like zerodha.
Have to think about investing through some other fund houses if this does not get resolved.

A big thumbs down for the customer care too, no dedicated mutual fund call center, every time i contact, they either don't pick up or ask me to call some other time.

+1 photos

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Sep 5, 2017

Complaint marked as Resolved

Resolved with the below message: We apologize for the inconvenience that has been caused to you. As you are aware the issue had occurred since the units had been short delivered to your account from ICCL which has been resolved now. Your redemption order which you have placed today should be processed and you shall receive the amount by tomorrow morning.

Zerodha customer support has been notified about the posted complaint.

Sep 04, 2017

Updated by Subha Bhaduri No response yet, not even a response to the two tickets I have created for the issue.
Will definitely move my assets to some other broker now.