unlimited years
  Mutual Fund Schemes Are Not Approved By SEBI - RTI  
  10 Sept 2013 , Mumbai India RTI News Exclusive  
     
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In India there are more than 40 Mutual fund companies are 11500 approx. of schemes with about Rs 13 Lac cr. AUM. Customers assume that all these schemes are properly monitored and verified by government regulator SEBI. So there is no chance of collapse of any Mutual fund scheme. Many people incurred loss in many schemes and remain calm that it may be due to market fluctuation.

India RTI News exposes this multi billion SEBI scam in the name of SEBI approved schemes to cheat millions of customers in India. When a Customer asked HDFC Mutual fund to show approval certificate of all the mutual fund schemes  then HDFC Mutual denied it due to compliance issue. Then Customer filed RTI application at SEBI to provide him the copy of approval certificate of top Mutual fund schemes. In RTI reply SEBI said that " SEBI neither approve nor certify any Mutual Fund Schemes" signed by Dr Anil Kumar Sharma, CGM, SEBI .

After getting this letter customer asked HDFC Mutual fund to reply clearly that their schemes are approved from SEBI or not in Yes or No. Earlier they replied that all there schemes are approved from SEBI but later their compliance team replied in legal language that they submit the copy at SEBI and take approval of trustee only. But the trustee which is approving the mutual fund schemes is also not responsible for any loss due to any reason.( See the Scan copy)

God knows that mutual fund schemes are following SEBI norms or not because their scheme design is not approved by SEBI. In automobile or food market all vehicles design and Packet food are approved by RTO and FDA. But SEBI don’t do such responsible task . So why SEBI is created?

This is the clever attempt by SEBI to fool innocent peoples. If SEBI will approve any scheme and the mutual fund get collapse then customer will claim the loss to SEBI. SEBI also allowed Mutual fund company to write everywhere that ( Mutual Fund regulation as per SEBI Act 1996 )but SEBI did not asked them to write in bold letter that " THIS SCHEME IS NOT APPROVED BY SEBI"

Now the customer is planning to file PIL at Bombay High court to save customers in the name of SEBI approval. Till now top 4 companies claimed that their schemes are approved by SEBI ie HDFC Mutual fund, ICICI Prudential Mutual fund, HSBC Mutual Fund and Pramerica Mutual fund . Other top companies never replied clearly that their schemes are not approved by SEBI. SEBI chairman also not replied after many reminders. If any customer is interested then he can join SK Shrivastava of Mumbai 9869345148 for PIL .

Download Copy Of RTI Reply SEBI

 

 
   
   
     
     
     
 

SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual 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approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved SEBI Mutual Fund approval not approved

 
     
 
 
     
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