minor to major updation of MF folio.

POSTED BY sanchay ON January 21, 2013 11:37 pm COMMENTS (4)

Hello Manish Sir ,

This is quite intresting problem which I faced recently . In 2008 , my mom purchased a MF of sundaram mutual fund AMC in my name and she was my guardian at that time bcoz i was minor. In 2011 (after turning to major) I submitted all the required documents (LOU , Pan Card , Address proof ,age proof, bank details ) and they  gave me the receiving of that . Now i tried to redeem it and i found that the mode of holding is same as it is ( under guardian ) . I think if i contact them and show the proof of submitting the required documents , they will certainly change the mode of holding without any documentation . Is it possible to put some legal action and extract some benfits out of that ?? 😀 

4 replies on this article “minor to major updation of MF folio.”

  1. sanchay says:
    February 8, 2013 at 6:26 pm

    Thank you all for your precious advice , submitted the documents again .

    Regards

    Sanchay

    Reply
  2. BanyanFA says:
    January 22, 2013 at 6:51 pm

    Sanchay,
    It would be time consuming to do that. If I was you, I would suggest you to reapply for change of status (unless it is extremely difficult and time consuming).

    Reply
  3. Ashal Jauhari says:
    January 22, 2013 at 3:32 pm

    Dear Sanchay, you are already beenfited in the form of increased NAV due to not able to redeem at your time. Please convert your holding from minor to major immediately. Even if it means submiting your documents one more time. Nike – Just do it.

    thanks

    Ashal

    Reply
  4. justgrowmymoney says:
    January 22, 2013 at 1:12 am

    Sanchay – Such clerical errors cannot be taken advantage of in most cases. You may have to register a complaint!

    Reply

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