How To File Complaint Against Mutual Fund Company?

How To File Complaint Against Mutual Fund Company? How do I complain to SEBI against mutual funds? Let us try to find answers to these questions in this post.

File Complaint Against Mutual Fund Company

Many of us are nowadays investing in Mutual Funds. During this investment journey, you may obviously in one way or another way can face some issues with Mutual Fund Companies. In such a situation, how to file a complaint against a mutual fund company?

When I checked the websites of few AMCs, I found that they have not explained properly how to raise or file complaints against mutual fund companies in a proper way. Hence, thought to write this simple process in this post.

How To File Complaint Against Mutual Fund Company?

Instead of bothering about which AMC provided the clear process of complaining, let us understand the process of how to file a complaint against a mutual fund company in India.

Step 1 – Complaint within the Mutual Fund Company

The first step is to raise a complaint within the mutual fund company as all of these AMCs have some internal grievance system. First, you have to approach the Mutual Fund / Investor Service Centre of the Mutual Fund.

If the complaint remains unresolved, the investor may write to the designated Investor Relations Officer of
the mutual fund. The name of the Investor Relations Officer/contact person is generally mentioned in the Scheme Information Document (SID) of the mutual fund scheme, and also on the website of the concerned mutual fund, whom one may approach/write to in case of any query, complaints or grievance.

Step 2 – Approach the SEBI’s SCORES

If your issue is not resolved within the mutual fund company, then the next step is to raise an issue online with SEBI using SEBI’s SCORES platform.

SCORES is an online platform designed to help investors lodge complaints, against listed companies and SEBI-registered intermediaries. It is a centralized database to raise your complaint. You can view the status online. You have to register to raise a complaint on the SCORES platform.

On successful submission of a complaint, a system-generated unique registration number will be displayed on the screen which may be noted for future correspondence. An email acknowledging the complaint with a complaint registration number will also be sent to the email ID entered in the complaint registration form. You have to provide details like your name, PAN number, Address, mobile number, and email ID.

To facilitate replies to various queries of the general public on matters relating to the securities market, SEBI has toll toll-free helpline service numbers 1800 266 7575 or 1800 22 7575 (Between 9 AM to 6 PM during working days).

This toll-free helpline service is available to investors from all over India and is in 8 languages – English, Hindi, Marathi, Gujarati, Tamil, Bengali, Telugu and Kannada.

Step 3 – Online Resolution of Disputes through Conciliation / Arbitration (Smart ODR)

If your issue is not resolved by Mutual Fund Company and you are not satisfied with SEBI’s SCORES resolution, then you have one more level to complain. It is Smart ODR. This facility was launched recently.

Refer to the complete details in this regard in this SEBI Notification dated 31st July 2023.

2 Responses

  1. Dear Basu Sir,
    Thanks very much for this excellent and informative article.

    Sir,if MF AMC does not produce mandate to bank on said date and as a result if bank process transaction late and we incur losses can we complain against MF AMC?
    I have given mandate of 5th date for Mirae asset & ICICI PRU. Both these AMCs dont produce mandate to bank on time. Infact, both produce mandate to bank after 7th and as a result I get units alloted at 12th or beyond. I have observed a difference of 0.1 to 0.3 units every month from last 3 years, which means I am allotted less units because of their mistake. My bank manager has told whenever mandate was produced same date they have processed the transaction. In view of this, can I file a complaint to SEBI regarding this? I had already filed a complaint 3 times to these AMCs from last 1 years, they are still the same.

    Thanks in advance


    1. Dear Rajesh,
      As AMCs work five days a week, this issue may pop up. Coming back to 2-3 days of delay and getting less units than the actual one, to be frank, it hardly matters for a long term investor. Few smile if post their investment market went up and few get angry if market goes down. But if you are a long term investor, it hardly matters. Cool down and enjoy your investment.

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