Respected Sir/ Madam,
Ref: Not Registering KYC from NDML for Mutual Fund.
PAN No: BJBPS5853G
I have forwarded documents of KYC to HDFC Bank (Powai) branch on 07.03.2012 and soon after, I received acknowledgement letter from NDML which is the subsidiary of NSDL. So my KYC get registered at NDML site.
After receipt of Acknowledgement letter from NDML. I stated investing in mutual fund and furnished Acknowledgement Letter copy of KYC with Mutual Fund Application Form but, when I received the Account Statement from them it was clearly mentioned as your KYC is not registered.
To understand the reason why NDML KYC is not accepting by Mutual Fund trustees, I contacted NDML and they said Mutual Fund Trustees are getting paid from CDSL so that they are not accepting your KYC. The concerned person was said you send me mail of those trustees who have not accepted your KYC. After forwarding of mail no initiative were taken by the concerned person and thereafter he was not available.
So, I decided to get KYC done from CDSL. Again, I have forwarded documents to HDFC Bank (Powai) branch and strictly instruct them to forward these documents to CDSL only.
Soon after few days when I checked CDSL site they were saying that your application for KYC has been REJECTED. When I contacted for reason then, she said your KYC has already been registered with NDML so we will not register your KYC.
To update this information to Mutual Fund Trustees I have forwarded mail which, I have received from CDSL Concerned person for Rejection of my KYC to their CAMS Centre. But, again they were of the opinion that your KYC is not registered with CDSL.
Now, I do not have any other option left but to complaint against Mutual Fund Trustees to you that why they are not accepting my KYC which is registered with NDML. Since, CDSL is not registering KYC if it is done from NDML because they NDML is the second KYC Registering Agency which SEBI has appointed. The question is that KYC means checking of Customers Residential Status. Which any agency can be done which has the approval from SEBI.
I am hoping that we will solve this issue as soon as possible.
Mutual Fund Trustees where I have made my investment are as follows-
1. UTI Mutual Fund
2. HDFC Mutual Fund
3. SBI Mutual Fund
Prashant Sarang (Mumbai)
9664063841
Encl:
&&&- Forwarded message &&&-
From: Cvl Helpdesk
Date: Fri, May 18 at 12:31 PM
Subject: RE: KYC Details of Prashant Sarang
To: CA Prashant Sarang
Dear Sir,
The KYC of Pan No. BJBPS5853G was rejected due to"KYC AVAILABLE WITH NDML"
If any doubts please feel free to contact the undersigned.
Thanking you & assuring you of our best services at all times.
Regards
Deepa Shetty
Helpdesk Team
CDSL Ventures Ltd.
I-202, 2nd Floor (Deck Level)
Tower No.4, Above Belapur Railway Station
Belapur, Navi Mumbai – 400614
022- 61216805 / 10 / 13 / 23 /24
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