What happens if a redemption is rejected due to signature mismatch?

I am 60 years married with 2 children and reside in Raichur. I had invested INR 5 Lakhs in a reputed equity diversified mutual fund about 5 years ago. This amount is today worth INR 7 Lakhs. I needed this money badly and applied for redemption. The mutual fund house refused my redemption request saying there was a signature mismatch. With advancing age handwriting changes. Please could you suggest me a way to redeem my money. Kindly advise?

Asked by : Nagesh - Raichur | 644 Views

When a redemption is rejected due to signature mismatch, you would need to go to your bank (preferably the bank that holds the account attached to the mutual fund folio), and get the signature attested by the bank manager. The bank manager would attest to your identity and require you to sign the request in his/her presence. Then, he/she would certify the signature stating that it is indeed your signature and the mutual fund can trust the same. 1. When you produce such a redemption request, the mutual fund company would definitely process the redemption. 2. Many mutual funds also have a special form for this purpose, called ‘Signature attestation form'. Again, this is a form that needs to be signed by a bank manager who will certify that the current signature is a valid one from the person whose name is on the mutual fund folio.