Complaint Details

Status : Closed Closed
Complaint No
 : 0003571/2013
Category : Business & Finance
Date : 07-03-2013
Subject Line : fraud on investment
     
Complainant : JAGDISH GIRDHANI
Address : CUPID BUNGLOW NO.1, NEAR SUCHIDHAM CLUB, NEAR JINDOSHI BUS DIPO, GOREGAO EAST
     
Complainee : UNIT TRUST OF INDIA
Address : shradha shopping arcade, sv road borevali (west) Mumbai, maharshtra

 

Complaint Details
Respected sir,

I Jagdish girdhani invested in UTI Raj Lakshmi Scheme on 22/12/1992, which stated that on the date of maturity which is 31/12/2012 I am entitled to receive a sum of 1,05,000.00. But now when the maturity date has arrived these UTI people are saying that I will not be receiving this amount and will only be receiving 16,500.00. Which is not acceptable as there was not any such clause presented to me that this amount can vary. Also at the time of investment they made a false commitment and now they are denying. I have attached the copy of bond in the complaint. Request you to please help me and take relevant action as soon as possible.

Thanks & regards
Jagdish Girdhani

Replies

Date: 2013-03-19 14:53:31
Subject: Your complaint against UTI
Reply: Dear Mr. JAGDISH GIRDHANI,

Kindly go through the bond to check the terms & conditions of payment on maturity. Also Check if you have any UTI pamphlet which gives details of these bonds.

Verbal assurance by brokers etc cannot and should not be relied on financial or any other investments. If nothing has been guaranteed then in that case please ask UTI on what basis they are giving only Rs. 16500/-. You have not mentioned the amount you had paid which please confirm.

You may approach SEBI with your complaint and seek their assistance.

Thank you,

Asha Idnani
Chairperson, Consumer Grievances Redressal Committee
 

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