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UTI Mutual Fund Complaints & Reviews

UTI Mutual FundNon dispatch of unit certificate of mepus

First Holder: Satish Kumar Singh
Reference: Inv.ID/Folio No /DP/Client ID: [protected]
Scheme/ Plan: MEPUS( Income) ; Unit- 809
Unit Certificate Number: 200-95-[protected] on 01.04.2005.
Date of Acceptance: 18- Nov-2005;
Matured MIP- Unit Certificate Number: 200-95-[protected]
Number of MIP-95 Units 1000

Complaint: The original MEPUS Unit Certificate was submitted for redemption in 2005 with all papers. But objection was communicated vide objection note dated 19.11.2005 with following notes: Objection Details: Joint Holder has not signed/ Signature mismatch.
I wrote on August 21, 2006 to the Regional Manager, UTI TECHNOLOGY SERVICES LIMITED, Central Processing Centre, Plot No-3, Post BAG No-18, Sector-11, CBD-Belapur, Navi Mumbai-400 614 to return to us the entire papers along with the original certificate submitted by us for repayment of the proceed of MEPUS, so that we may resubmit the same to you after removing the defects pointed out by you.
It was stated that We were unable to remove the defect in the absence of the required document, despite the defects having been pointed out by UTI long back on 19-11-2005. Accordingly, it was requested to return to us the entire papers along with the original certificate submitted by us for repayment of the proceed of MEPUS, so that we might resubmit the same to UTI after removing the defects pointed out by UTI. But the request was not complied with.
On March 29, 2016, I wrote to M/s Karvy Compushare Private Limited, Unit: UTI Mutual Fund Karvy Selenium Tower B, Plot No. 31-32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad-500032 intimating Non Receipt of MEPUS Unit Certificate. for 809 units with request to kindly send my MEPUS Unit Certificate for 809 units .But, again the request was not complied with .As such, I am without my Unit certificate and unable to redeem, my 809 MEPUS units.
My Unit certificate may please be returned immediately.
(Satish Kumar Singh)

UTI Mutual FundUTI DIVIDEND YIELD FUND - DIVIDENDS - YEAR 2011

Sir, I am an NRI and I am holding 1, 514.215 Units of UTI Dividend Yield Fund, against Folio # [protected]. I had requested through UTI Mutual Fund, Kalyan Branch for changing my Bank Mandates during May/June 2011, but they had lost my request itself. During my recent vacation in May/June 2012, surprisingly I had seen a letter from your Registrar & Transfer Agents – Karvy, requesting me to re-submit my request with all supporting documents and I did so. Thereafter, I received an e-mail confirmation for having updated with my New Bank Mandates of State Bank of India, Murbad Road Branch, Kalyan, in your records. In the meantime, UTI Mutual Fund had declared two Dividends for Financial Year 2011 and they had wrongly transferred to my closed and inoperative Bank Account with HDFC Bank. Please note, this Account is no longer in operation since May 2011:

1. Rs.1, 901.11 has been remitted to HDFC Bank on 7th June 2011
2. Rs.1, 520.89 has been remitted to HDFC Bank on 8th Dec. 2011

Is it justified that a responsible Investment Company like UTI Mutual Fund do this mistake? Due to their negligence, I have lost a substantial amount of Dividend, which is not affordable to me. So, I would earnestly request the Forum for conducting an inquiry against UTI Mutual Fund and force them reimburse my lost Dividends, as above.

Best regards
V. S. Sureshkumar
Mob # +[protected]

UTI Mutual Fundtransmission of units

On 6th march 2011 I had submitted documents for transmission of units of uti MEPUS mutual fund in collection center. they gave acknowledgement also saying it takes one month for transmission. But till now i havn't received any email from them today i went and enquired about the matter but shockingly they said the documents are lost please do submit again. It shows their irresponsibily and the they treat investors arrogantly. Very bad customer service. I never want to invest in uti again

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    Suvarnalata D Thorat Aug 02, 2011

    Dear Unitholder,

    Thank You for bringing the issue to our notice through the site www.complaintsboard.com. It is always our honest efforts to resolve the queries of our investors received from any source.

    We request you to provide us further details such as unit certificate no., folio no. name of unitholder to enable us look into the matter and do the needful.

    We value your relationship with UTI Mutual Fund and thereby suggest you the below alternatives in order to safe guard your information and also to get any other information related to your investments in UTI.

    Toll Free Phone Number - 1800 22 1230
    Email ID - [email protected]

    We request you to utilise customer care option at our website, www.utimf.com, select the option, “Customer Care “to lodge your query/complaint regarding any of UTI Mutual Fund.

    You may contact our UTI Financial Center (UFC) closest to you. The contact details of UFCs are available on the website - www.utimf.com.

    We thank you for investing in UTI Mutual Fund!

    Assuring you best of our services at all times.

    Regards,

    UTI Mutual Fund
    Dept of Operations

    0 Votes

UTI Mutual FundNo receipt of payment nearly after 6 months from redemption

I had applied for redemption of all units for my UTI Master equity plan some time in Nov '07 . They told me that I will get the cheque within 7 days, but I got the cheque dated 13 -11-07 valid up to 12 -01-08, only after 12-01-08. so could not encash the same. i requested in writing for reissue of the cheque number of times I am just tired of placing and following complaints and doing rounds of UTI MF head office at Allahabad; nothing seems to happen and I clearly feel neglected.

Initially I had placed a complaint to their Branch office in Allahabad, but there was no response for more than a couple of weeks. Then, I contacted an official from their head office who was looking into this matter for more than 3 weeks, but still my redemption request remained unprocessed. Then I submitted a written reminders number of times, and now its June, and after several phone calls nothing seem to happen, and I feel totally ripped off as a consumer.

This case will throw light on fraudulent ways that UTI MF undertakes to be reluctant to pay off consumer money, and their worst customer services. They don't really care about investors and are ignorant about their complaints and their grievances.

What should I do to retrieve my money? Please help! Thanks!

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    Aspi Doctor Jun 14, 2008

    I too have problems with UTI MF. 3 of which are ennumerated below:
    Problem 1
    13 US64 Bonds in the name of Aspi Doctor and Rhoda Doctor were submitted to the Juhu office of UTI about 2 months ago. An acknowledgement has been stamped. The redemption amount should be more than Rs 1 lakh. However less than Rs 70, 000 has been credited to my BOI account (Khar Branch, SB 3456) on 2nd June. NO STATEMENT HAS BEEN FURNISHED BY UTI so it is not possible to identify the bonds that have not been redeemed. The details of the bonds are as follows:-
    1. Certificate No 26624908-----077 bonds
    2. 24817369-----131
    3. 24817407-----380
    4. 23263238-----014
    5. 23263200-----048
    6. 24818624-----105
    7. 24818624-----019
    8. 24817334-----079
    9. 24817326-----014
    10. 23285240-----062
    11. 24817393-----039
    12. 24817385-----007
    13. 24817377-----078

    Problem 2
    I have invested two sums of Rs 50, 000 in UTI Dividend Yield Fund under folio nos 514213194316 and 514213194225. According to statements received by me each of the investments have earned dividend of Rs 2549.16 which has been credited to my ICICI Bank Account SB 003805506795. Checking the account however I find that the DIVIDEND HAS NOT BEEN CREDITED even though it is more than one month.

    Problem 3
    I have invested Rs 50, 000 in UTI Energy Fund. According to a soft copy of the statement my folio no is 514213194316. For the last one month I have been asking for a hard copy but none has been sent

    Aspi Doctor

    0 Votes
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    S Banerjee Jul 21, 2008

    Same problem here.Don't know where to complain.Repeated e-mails to UTITSL Mumbai and local office yield no replies.They are just sitting tight on the money wrongfully.Dn't know where to complain.Thinking of approaching the consumer forum and SEBI.

    0 Votes

UTI Mutual Fund — Money not received after nearly 3 months from redemption

I had applied for redemption of all units for my UTI Growth and Value Fund (now merged with UTI Mid Cap Fund) on 21st January, 2008. They told me that I will get the amount...