DSP BLACKROCK MUTUAL FUND
Redemption amount transferred to some other person's account

Hi,

I had recently sent redemption request for my Mutual fund from DSP Blackrock Mutual Fund. But the amount never got credited to my account. On checking with their call centre, I came to know that the amount was transferred to some other bank account. They said that this account number was erroneously mentioned by me in my application form. Last two digits of the account number were interchanged.

I have a saving account with ICICI bank. I had taken SIP from DSP and filled ECS form for auto debit. Money was automatically getting debited from this account for more than a year. If the account number was wrongly mentioned then how come the money was getting debitted from right account? Even while transferring they should have matched account number and name of the account holder. This was not done and money is now transferred to a third person's account.

I have been chasing DSP for more than a month. I have already made three applications (First 2 applications were conveniently not received by them). But till now I have been getting response that they are chasing ICICI Bank and have got no reply from them.

Please suggest whom should I approach and what should I do to get back my hard earned money.

Regards,

Manish