Mutual Fund investors at some stage may have had problems or issues with mutual funds and their various schemes. This could be in the form of a delayed dividend, non receipt of refunds etc.
One must admit that these days the procedures are more streamlined, so the chances of a default are almost negligible.
In any case we tell you how to address your issues as regards a mutual fund or a mutual fund scheme.
You need to first address it with the mutual fund itself
When you opt for a mutual fund scheme you would see the name of the person, whom you could approach in case you have an issue. It's certain to be there and you can address your queries directly.
In case you are not satisfied you can write to the trustees that have been mentioned in the offer document. In case you do not have the offer document with you its easy to find them on the concerned asset management companies website.
What happens if you are not satisfied?
In case you are not satisfied with the response you can approach the Securities and Exchange Board of India (SEBI), which is the capital market regulator in India. You can write to:
Securities and Exchange Board of India,
Office of Investor Assistance and Education (OIAE)
Plot No.C4-A , "G" Block, 1st Floor,
Bandra (E), Mumbai - 400 051.
You maybe able to call and also seek an appointment. One cannot be sure if your request would be entertained. But, if the amount is rather large, you could give it a shot.
The concerned officer might take it up directly with the mutual Fund and you may end up getting a favourable response. The entire procedure may take time, but, it's worth giving it a short.