[Resolved]  SBI Magnum Tax Gain Mutual Fund — Improper Service

I had subscribed for SIP in your fund “SBI Magnum Tax Gain-Dividend” though Mahindra finance with Folio num from 15th June 2007 with amount Rs 2000/- per month; for which I had given my ICICI account details for ECS. As going forward I had requested to change my ECS bank account to CITIBANK in August, and I have given a request letter for the change of account details to Mahindra. Thereafter I had received confirmation letter from SBI Chennai office saying the account num has been changed and henceforth the ECS will get debit from my CITIBANK account only and dividend will be sent to that account only, further ECS has to get debit from my CITIBANK account which has not happened till now from past 5 months.

I have noticed that still ECS call is going to my old account details in September. This is result after regular telephonic follow up with Mahindra Finance and SBI office in Pune.

So I have given a 2nd time request in October / November regarding the same for change of bank account details and I have got 2nd confirmation from the SBI People saying the account num has been changed and henceforth the ECS will get debit from my CITIBANK account only and dividend will be sent to that account only.

Still I have noticed for month of December the money has not got debited from CITIBANK through ECS.
Inspight of all this I have purchased all the NAV’s for 5 months through checks and in a higher price.

In result of your discrepancy in service I had Financial and Mental losses. As if you had acted and served my request properly I must had hold more units against the units what has been allotted till date as amount was laying Idle in my Citibank account waiting for getting debited. I should get compensated for same considering your fault in the case.

Can i know what shall i do in this type of issue, and i want to go as per law, and can i get confirmation that i will be getting compensation
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Aug 13, 2020
Complaint marked as Resolved 
 
10 Comments

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I have invested Rs. 20000 in SBI Magnum Taxgain in 4.12.07 under dividend payout option. On 15.02.08 company had declared 110% dividend but surprisingly i have not yet received the same.
It is not yet credited to my account.
Folio No.10152694.
hi i want to invest in sbi magnum sip send me an advisor or phone no and office address details...thanks..satya
sir

I have invested Rs 10000/-SBI magnam taxgain fund in 19.02.2007 under dividend payment option.i have not yet received any payment credi
ted to my account,
Hi,

Can i know how to link mutual funds to icicidirect...When i spoke to customer care, they told to bring NOC from the broker as well as the original documents.

Is there any other way to link the mutual funds to demat. As this funds were taken 4 yrs back, i don't remember the broker and also contact number.

Thanks & Regards,
Srikanth Sirimalla
I have invested Rs. 45000 in SBI Magnum Taxgain in 18.05.2008 under dividend payout option. On 23.06.2009 company had declared dividend but surprisingly i have not yet received the devidend.
It is not yet credited to my account.
Folio No. 10740981
Sir,

I want to invest in any of the scheme of SBI Megnam Mutual Fund.But I want to pay only Rs.500/- P.M. So Please suggest that which scheme is better at this moment, who gives us better return and no lock-in period.
I had invested in SBI Magnum Tax Gain on 28/01/08 vide Folio no 10477957 but i have not received any divident against the Unit purchased by me.
Hi,

i have bought SBI tax gain mutual fund mutual fund through ICICI Direct n now i want to close that icici account but icici people saying that they can not close the account because my icici dimat account is showing mutual fund holdings,
How can i change the banking n broker details of my mutual fund so that i can close my icici dimat account.

plz suggest.
Hi,

I have invested 20, 000/- in Magnum TAx gain Fund-Dividend at applicable NAV 32.02. My Folio no. is 11820030. I have received massage from TM-CAMSeSMS in that it is mentioned it is successful.

But till date I have not received statement for the same investment.
I dont have hard copy of the statement as the SBI agent has said that, " you have reduced paper work."

I kindly request you to please send me statement on my above email ID so that i can show it to my office.

Its urgent.
I have not yet received dividend for the year 2009-10. Please send the same to my S/b account no.[protected] (PNB - Chinsurah Branch)

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