UTI Mutual Fund reviews and complaints

First Holder: Satish Kumar Singh
Reference: Inv.ID/Folio No /DP/Client ID: [protected]
Scheme/ Plan: MEPUS( Income) ; Unit- 809
Unit Certificate Number: 200-95-[protected] on 01.04.2005.
Date of Acceptance: 18- Nov-2005;
Matured MIP- Unit Certificate Number: 200-95-[protected]
Number of MIP-95 Units 1000

Complaint: The original MEPUS Unit Certificate was submitted for redemption in 2005 with all papers. But objection was communicated vide objection note dated 19.11.2005 with following notes: Objection Details: Joint Holder has not signed/ Signature mismatch.
I wrote on August 21, 2006 to the Regional Manager, UTI TECHNOLOGY SERVICES LIMITED, Central Processing Centre, Plot No-3, Post BAG No-18, Sector-11, CBD-Belapur, Navi Mumbai-400 614 to return to us the entire papers along with the original certificate submitted by us for repayment of the proceed of MEPUS, so that we may resubmit the same to you after removing the defects pointed out by you.
It was stated that We were unable to remove the defect in the absence of the required document, despite the defects having been pointed out by UTI long back on 19-11-2005. Accordingly, it was requested to return to us the entire papers along with the original certificate submitted by us for repayment of the proceed of MEPUS, so that we might resubmit the same to UTI after removing the defects pointed out by UTI. But the request was not complied with.
On March 29, 2016, I wrote to M/s Karvy Compushare Private Limited, Unit: UTI Mutual Fund Karvy Selenium Tower B, Plot No. 31-32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad-500032 intimating Non Receipt of MEPUS Unit Certificate. for 809 units with request to kindly send my MEPUS Unit Certificate for 809 units .But, again the request was not complied with .As such, I am without my Unit certificate and unable to redeem, my 809 MEPUS units.
My Unit certificate may please be returned immediately.
(Satish Kumar Singh)

Sir, I am an NRI and I am holding 1, 514.215 Units of UTI Dividend Yield Fund, against Folio # [protected]. I had requested through UTI Mutual Fund, Kalyan Branch for changing my Bank Mandates during May/June 2011, but they had lost my request itself. During my recent vacation in May/June 2012, surprisingly I had seen a letter from your Registrar & Transfer Agents – Karvy, requesting me to re-submit my request with all supporting documents and I did so. Thereafter, I received an e-mail confirmation for having updated with my New Bank Mandates of State Bank of India, Murbad Road Branch, Kalyan, in your records. In the meantime, UTI Mutual Fund had declared two Dividends for Financial Year 2011 and they had wrongly transferred to my closed and inoperative Bank Account with HDFC Bank. Please note, this Account is no longer in operation since May 2011:

1. Rs.1, 901.11 has been remitted to HDFC Bank on 7th June 2011
2. Rs.1, 520.89 has been remitted to HDFC Bank on 8th Dec. 2011

Is it justified that a responsible Investment Company like UTI Mutual Fund do this mistake? Due to their negligence, I have lost a substantial amount of Dividend, which is not affordable to me. So, I would earnestly request the Forum for conducting an inquiry against UTI Mutual Fund and force them reimburse my lost Dividends, as above.

Best regards
V. S. Sureshkumar
Mob # +[protected]

On 6th march 2011 I had submitted documents for transmission of units of uti MEPUS mutual fund in collection center. they gave acknowledgement also saying it takes one month for transmission. But till now i havn't received any email from them today i went and enquired about the matter but shockingly they said the documents are lost please do submit again. It shows their irresponsibily and the they treat investors arrogantly. Very bad customer service. I never want to invest in uti again

I had applied for redemption of all units for my UTI Master equity plan some time in Nov '07 . They told me that I will get the cheque within 7 days, but I got the cheque dated 13 -11-07 valid up to 12 -01-08, only after 12-01-08. so could not encash the same. i requested in writing for reissue of the cheque number of times I am just tired of placing and following complaints and doing rounds of UTI MF head office at Allahabad; nothing seems to happen and I clearly feel neglected.

Initially I had placed a complaint to their Branch office in Allahabad, but there was no response for more than a couple of weeks. Then, I contacted an official from their head office who was looking into this matter for more than 3 weeks, but still my redemption request remained unprocessed. Then I submitted a written reminders number of times, and now its June, and after several phone calls nothing seem to happen, and I feel totally ripped off as a consumer.

This case will throw light on fraudulent ways that UTI MF undertakes to be reluctant to pay off consumer money, and their worst customer services. They don't really care about investors and are ignorant about their complaints and their grievances.

What should I do to retrieve my money? Please help! Thanks!