I had a tough time redeeming my mutual funds last year. My redemption form was returned twice by Franklin because the signature did not match. They further wanted me to get my signature attested from the branch manager of the bank to which I wanted the refund to be credited to. It was very painful and I would have given up, had the amount not been substantial. Reliance, on the other hand, was more accommodative and accepted my signature once I explained the reason for the mismatch.
I however had no problem with IDBI bonds. They credited the amount directly to my account on maturity. Geetha ----- Original Message ----- From: "Pamnani" <kanchanpamn...@gmail.com> To: <accessindia@accessindia.org.in> Sent: Thursday, October 28, 2010 10:21 AM Subject: Re: [AI] Mutual Funds/Bonds Yes Niranjan generally the Bonds are cancelled but this does not happen in every case. National Highway Authority of India did not cancel the bonds and these had to be returned at the time of redemption. They were not satisfied with the attestation from the Bank. A similar problem is being faced by one visually challenged friend regarding his mutual funds. If I have to get SEBI to look at the problem as a whole then I need others to tell me about their problems. Kanchan Kanchan Pamnani Advocate & Solicitor 9, Suleman Chambers, Battery Street, Colaba, Mumbai - 400 039. ----- Original Message ----- From: "niranjanraj urs" <niranjanu...@gmail.com> To: <accessindia@accessindia.org.in> Sent: Thursday, October 28, 2010 11:19 AM Subject: Re: [AI] Mutual Funds/Bonds > Dear Madam, > Namasthee. I think that now the practice is, on maturity the bond > certificate gets automatically cancelled and the money is either > credited to the investor's account by ECS or is sent to him by cheque. > This was my experience in respect of both IDBI bonds and ICICI bonds. > Further, when I had to send an application for change of adress, as a > measure of abundant precaution, I got my signature counter signed by > the branch manager of my bank. > Hope the above can be one of the options for VI persons. > Niranjan > > On 10/28/10, Pamnani <kanchanpamn...@gmail.com> wrote: >> When the Visually impaired apply for Mutual Funds or Bonds there does not >> seem to be any problem however when the btime for redemption comes the >> problems start. The complaints of thumb impression, signature not >> tallying >> etc are the general excuses. The problem is sorted out when the visually >> impaired gives an affidavit and notarises his redemption application. >> >> this is the problem that I have received recently from some visually >> challenged friends. >> >> 1. Have any of you suffered such a problem? >> 2. How was it sorted out >> 3. Did it take very long >> 4. How much extra did you spend >> 5. What is the procedure when you applied for these Bonds or units. >> 6. Do you have your Mutual funds in demat or physical form? >> 7. Is there any related problem which you want me to tackle now. >> Regards >> >> Kanchan Pamnani >> Advocate & Solicitor >> 9, Suleman Chambers, >> Battery Street, Colaba, >> Mumbai - 400 039. >> >> >> To unsubscribe send a message to accessindia-requ...@accessindia.org.in >> with >> the subject unsubscribe. >> >> To change your subscription to digest mode or make any other changes, >> please >> visit the list home page at >> >> http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in >> > > To unsubscribe send a message to accessindia-requ...@accessindia.org.in > with the subject unsubscribe. > > To change your subscription to digest mode or make any other changes, > please visit the list home page at > http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in > To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
