I am having ICICI dyanamic under folio No. 3905745. On 19 April, I asked Vivek Raina at your Jammu office to register a trigger at NAV of Rs.92. I followed up the registration for next 15 to 20 days as the Market was going down, but was told by Vivek Raina that the trigger was not registered. I then told him to forget the trigger if it has not been registered. I did not follow the NAV as the trigger was stated to not have been registered. On 8th June I called for statement and found that a sum of Rs. 80, 000/-(Out of 1, 20, 000/-)was shifted to liquid fund on 25th May. I enquired from Vivek Raina who again confirmed that the trigger was not registered and it was probably a systems mistake. This was more apparent from the fact that my request for trigger was for full amount whereas a partial amount was switched. I lodged a complaint and have been following the same from second week of June till date.
Yesterday I was informed that the switch was due to the trigger and also the remaining amount of Rs.40, 000/- has also been shifted to the liquid fund as on 25th May. This is insult to injury. I have been complaining about the wrong trigger for Rs.80, 000/-whereas a further amount of Rs.40, 000/-has been switched to liquid fund at a rate which is for lesser than the market rate as on today. If the trigger had been registered when the same was requested, I would have followed the NAV and switched back to dyanamic from liquid at a suitable rate without much loss. Firstly I was informed that the trigger was not registered and then whatever was registered as claimed by you was defective as only partial switch was made. This itself shows that there was a mistake in your system for which I cannot be panlised as my folio has gone down by 11000 to 12000.
I again request you to rectify your own mistake and revert back the switch wrongly made by you. I expect a positive respons in a weeks time failing which I shall take judicial/legal/Public action which I am sure you would also agree should be avoided.
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