Aditya Birla Sun Life Insurance
- Unauthorised switch of mutual fund Open
I had INR **** in ABSL Liquid fund on Feb **, which I put a switch request to ABSL Equity fund for all the units(**.*** units) and got an SMS confirmation regarding that (message attached) and after that, I put INR **,*** in ABSL liquid fund as I wanted a lumpsum amount of ***** in my liquid fund as to meed my sudden monetary demands.
But the next day all my money i.e. ***** was put in the ABSL Equity fund and there was no fund in liquid fund. I have been complaining about the same but no steps have been taken by your people. They keep saying that since I put switch for all units, the ***** that I put was also put in equity, but that isn't the sequence I did my transaction. I put money in the liquid fund because I wanted that money in liquid fund after getting the confirmation SMS for the switch request. If I wanted that money in Equity fund I would directly put it in Equity fund why would I put it in liquid fund and when I was putting that ***** in liquid fund nowhere I was warned about the process.
The logical sequence should have been to switch my **.*** units of liquid fund in equity and rest ***.*** units in liquid fund. The fault is in your system and I shouldn't be the one to incur the loss because of incorrect logic of your system. I just want my ***.*** units in liquid fund.
Are you brand?
Are you Lawyer?
Replace / Fix problem
Damages for loss and agony
Profit Aim Research
"It was very hard to get response from share advisory company but legal notice from Voxya made them to refund the full amount along with Rs.100,000 compensation!"