Hundreds of crores are lying unclaimed in the forms of unclaimed dividend and redemption amount of mutual funds. We provide service in redemption of Mutual Fund which remains unclaimed due to following reasons:-
Mismatch of name / change of name
Mismatch of signature
Change of address
Closure of bank account
Death of mutual fund holder
Even if you donot have details of your mutual fund, but you remember the name of Mutual Funds houses where investment is made, we can assist in retrieval of information and recovery of those unclaimed mutual funds.
If mutual fund redemption amount or dividend amount remains unclaimed for 3 years, it will be considered as unclaimed and invested by Mutual Fund Houses in money market. And if it remains unclaimed for another 10 years, it is transferred in Senior Citizen Welfare Fund, from where normally it cannot be claimed after 25 years.