Rejection of Dematerialisation Request for Mutual Fund units

POSTED BY arupsanyal2002 ON November 8, 2013 3:09 pm COMMENTS (2)

Hi,

I had holdings in few MFs including those in ELSS- MFs. All the folios including the most of ELSS have been converted into demat without a glitch by submitting single demat request form(DRF) against each folio . However, in case of Franklin India Taxshield & SBI Magnum Taxgain, the DRFs have been rejected with similar comment- “consolidated units provided with single CRN. Raise separate CRN for each lock in release dates”.

My DP (Kotak) is utterly useless to guide me. Also would like to mention that in both these ELSS MFs, the latest SIP purchase is over 36 months (first SIP over 60 months).

Please suggest the way out.

Rgds,

Arup

2 replies on this article “Rejection of Dematerialisation Request for Mutual Fund units”

  1. ashalanshu says:
    November 20, 2013 at 5:33 am

    Dear Arup, as the last SIP is more than 36 months old, I w’d ask to redeem and invest elsehwere.

    Thanks

    Ashal

    Reply
  2. Kotak Securities says:
    November 12, 2013 at 11:52 am

    Hi Arup,

    We regret the inconvenience caused. We request you to share your client id and contact details with us at ks.escalation@kotak.com so our customer care executive can get in touch with you and address your concern at the earliest.

    Regards,
    Team Kotak Securities.

    Reply

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