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Author Topic: Mutual Fund - Redemption and False Claims ( SEBI & ICAI Reporting Standards)  (Read 3051 times)

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Offline rahulshivshankar

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Dear Sir,

I had invested in a Mutual Finance (MF) company somewhere in 1992 , and due to the change in the Scheme's Name and due to my frequent transfers, I had lost communication and track on my Investments with the said Mutual Fund Company, after more than one and a half decade I could eastablish commincation with the said MF, and tried to dig my investment details with my change of address and KYC details, I was informed that the scheme in which i had invested was mereged to a new scheme,and the said MF in tern sent me the new Folio no with the latest a/c statement.
As I was in need of funds I applied for the redemption of the units as per the statement provided by the MF.
After Two years the said MF filles a case of recovery that they had provided a Wrong Statement of Account of my Investment , and they have incurred Losses due to the Wrongful Redemtion ; However I have checked their 2 years Balance Sheet, Auditor's Report also the various Statutory Reports - Board of Director's Report (With Director's Responsibility Statement), Trustee's Report etc , Where the so claimed of Wrongful Redemption and the Losses there after as claimed by the said MF does not reflect in their Profit & Loss and Balance Sheet nor is being stated in any of the Public Document & Statutory reports.

Sir, Can you kindly help me in you able advise and inputs as to how do i tackle this case by citing a few past cases - where the Court has relied on the Company's Statutory Documents or the SEBI's or ICRAI norms.


Rahul Shivshankar


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   thank for the information sharing and the more details this M.F claims and the application?

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