Mutual Funds Purchase – Money Debited, No Units Allotted

Purchase request made for Rs. 15 Lacs on 12/08 as per confirmation from Mutual fund attached. Ref. 2 : Payment for Rs. 15 Lacs debited from my bank account as per confirmation mail from my Bank attached. Ref. 3 : My complaint regarding non-credit of the units to my account and acknowledgement received from the Mutual Fund. Ref.4 : Mutual fund account statement showing “invalid purchase – reversal”. However, payment has not been returned to my account. Ref. 5 : My reminder I on this matter. For all reminders, the standard reply that has been received is “Thank you for writing to us. With reference to your mail, we wish to inform you that we are checking at our end and please be assured that we will get back to you shortly.” However, no concrete action has been taken to credit my account or refund the money even 12 days after transaction. Evidence for all the references attached.

Immediate credit of the 15 Lacs to my Mutual funds account. Failing which, the payment to be refunded to my bank account. Interest at a nominal 15% from the date of purchase (12/8) until the date of credit to account. Compensation of Rs. 10,000/- for the agony caused and deficiency in service.

Email Id: cnaren@yahoo.

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