Complaint about not receiving Funds of Investment withdrawal “JM Tax Gain Fund”

Location/place: Mumbai

Name of company/service: JM Mutual Funds

I have invested Rs. 40000/- with Jm Tax gain fund around 4 years back. I withdrew all my investment on 24th Dec’ 2012 by submitting request to withdrawal with your R & T agent KARVY at it office at Rajabahdur Compound, Fort Mumbai.

An attendant on the counter informed me that chq will be delivered to your address within 3-4 working days. But the same was not delivered even after 5 working days. Hence I called to phone service on 31.12.2012 ( #2380222). An attendant on phone service informed me that “consignment was not delivered. courier service failed to deliver on the address so they will send it by speed post. it will reach to you within 7 working days.”

It has been almost 8 days over to my 1st call but I have not received any single call or response from JM Mutual fund company about the status of my cheque. I again called on your phone service for enquiry. An attendant informing me that they had sent it through “Dot On Dot Courier” but the same was return”

I don’t understand why are JM Mutual Fund Company is so careless about customer service..??

I have below complaint / Question to company..

1. When I used to get your “Annual reports” delivered on same address every year, WHY not a cheque was delivered on same address?

2. Why not thier courier person /Company called when they were not able to find my address? Which is the general practice across all courier services follow.

3. Why didn’t the company contact me at 1st instance when the cheque was not delivered?

4. Why did company give me wrong information that they will send it through speed post and will be delivered within 7 working days? If they would not gave me false information. I could have made some different arrangement to get it picked up.

5. When 1st time your “Dot on Dot courier” failed to deliver chq, WHY did they sent it through them again?

My house is under construction at my native place so I was in urgent need of money Because of delay from JM Mutual Fund I had to bear Rs.25000/- more for material purchase. Which was agreed deal to pay on 1st Jan ’2013 where I failed to fulfill because of JM Mutual Fund.

Now I want compensation for trouble and losses faced by me because of JM Mutual fund

Best regards,
Shreekant S Rasal
9969460772