You put your money into a mutual fund, feeling safe, believing that it is a controlled system. It is quietly making sure everything runs smoothly.
You do your research, invest slowly, and believe the process will work as it should. But when things don’t go as expected, like a redemption taking too long, units not matching the correct NAV, or emails not getting a reply, your trust begins to fade.
You’re not really thinking about fighting or taking legal steps; you’re just wanting clear answers and a fair solution.
This is when the idea of filing a SEBI complaint against a mutual fund comes up not as a way to argue. But as an official way for investors to express real concerns when regular support doesn’t help.
It’s important to understand this process because many problems aren’t about someone being wrong. But about being responsible, communicating properly, and making sure your investment is handled as promised.
When to File SEBI Complaint Against a Mutual Fund
Mutual funds are of different types, like equity funds, debt funds, hybrid funds, index funds, and others.
But the type of fund doesn’t usually affect the kind of complaint someone might have. What really matters is how the investment is managed.
Most complaints happen when an investor feels a promise wasn’t kept, the information wasn’t clear, or the timelines weren’t followed.
Here are some of the scenarios and cases where an investor can file a complaint in SEBI against a mutual fund:
1. Delay or Failure in Redemption
- Redemption amount not credited within the prescribed timeline
- Partial payment or unexplained delays
- No clear communication on redemption status
SEBI has defined timelines for redemption; failure to meet them is a valid ground for complaint.
2. Incorrect NAV Allotment
- Units allotted at the wrong NAV
- NAV not matching the transaction date
- Errors in purchase, switch, or SIP allotment
3. Non-Receipt or Delay in Account Statements
- CAS (Consolidated Account Statement) not received
- Incorrect or incomplete statements
- Repeated follow-ups without resolution
4. Issues with SIP, STP, or SWP
- SIP deductions without unit allotment
- SIP cancellations not processed
- STP/SWP requests ignored or delayed
5. Unauthorised Transactions
- Transactions processed without investor consent
- Changes in bank mandate or nominee without approval
- Switches or redemptions not initiated by the investor
6. Poor or Non-Responsive Investor Grievance Handling
- Emails or complaints not responded to
- Standard template replies without resolution
- Excessive delays in grievance redressal
This is one of the most common reasons investors escalate matters to SEBI.
7. Mismatch in Portfolio Disclosure or Reporting
- Inconsistencies between portfolio disclosures and actual holdings
- Misreporting of fund performance or risk profile
8. Non-Disclosure or Misleading Information
- Important scheme information was not shared clearly
- Changes in expense ratio or scheme features without proper communication
- Misleading statements in scheme-related communication
9. Demat or Folio-Related Issues
- Incorrect folio details
- Problems with dematerialisation or rematerialisation
- Errors in nominee or KYC updates
10. Failure to Follow SEBI Regulations
- Breach of SEBI (Mutual Funds) Regulations, 1996
- Non-compliance with investor protection guidelines
One can file complaints related to the above matter to SEBI through SEBI’s SCORES platform under the Mutual Funds category.
However, you should only file a complaint about a mutual fund with SEBI after giving the mutual fund company a proper chance to fix the problem.
How to File SEBI Complaint Against Mutual Fund?
Once you’ve tried resolving the issue directly with the mutual fund house and received no satisfactory response, SEBI provides a formal way to escalate the matter in a regulated and transparent manner.
- Raise the Issue With the AMC First – Start by reaching out to the mutual fund house or AMC directly through email, customer care, or their investor service center. Clearly explain the problem you’re facing and keep a record of all your communications.
- Wait for the 30-Day Resolution Period – SEBI gives the AMC up to 30 days to respond or fix your complaint. If you don’t get a reply or the solution isn’t satisfactory, you can take the next step.
- Visit the SEBI SCORES Portal – Go to the official SCORES website run by the Securities and Exchange Board of India. Register by providing your email ID and basic information to start the complaint process.
- Select the “Mutual Fund” Complaint Category – When filing your complaint, pick the “Mutual Funds” category and choose the relevant AMC or intermediary. This makes sure your complaint goes to the correct SEBI-registered entity.
- Describe the Complaint Clearly – Explain what happened, when it happened, and why you think the issue hasn’t been resolved yet. Keep your explanation simple, clear, and focused on the mutual fund issue.
- Upload Supporting Documents – Attach important documents like account statements, transaction details, emails, redemption requests, or screenshots. These documents help SEBI understand your case better.
- Submit the Complaint on SCORES – If you don’t know how to lodge complaint in SCORES? Check all the details once again before submitting. After submission, you will get a reference number to track your complaint.
- Track the Status and Review the Response—You can check the status of your complaint anytime by logging into SCORES. You can also view the Action Taken Report from the AMC. If the response isn’t good enough, you can escalate your case further through the platform.
Need Help in Filing a Complaint to SEBI Against a Mutual Fund?
Delays, unclear answers, or not getting any response at all can feel even worse than the actual problem, especially when you’re unsure of what to do next.
If the process of filing a SEBI complaint feels complicated or too much to handle on your own, you don’t have to go through it alone.
Register with us, we help investors on how to how to complain in SEBI against a mutual fund in a calm, clear, and easy-to-follow way. We make everything simple and easy to understand.
Here’s how we help:
- Documentation Help – We assist you in gathering and organizing all the important documents required for a mutual fund complaint.
- Drafting Your Complaint – We help you write a clear and factual complaint that explains what happened and when it happened.
- Filing Support on SCORES – Filing a complaint on the SCORES portal of the Securities and Exchange Board of India can be confusing for new users.
- End to End Case Support – Our support doesn’t end after you submit the complaint. We help you track the case, understand any responses, and provide replies if further information is needed until the issue is fully resolved.
This way, you’re not left guessing or stressing about the process you get steady support at every stage.
Conclusion
Raising a SEBI complaint against a mutual fund isn’t about causing trouble; it’s about fighting for your rights as an investor.
Mutual funds work under strict rules, and if something isn’t clear or doesn’t get fixed. It is asking for an official review is a smart move, not a sign of failure.
Often, problems get solved simply because the issue is raised properly and backed by the right documents. If you’re feeling confused or stressed, know that you don’t have to face this alone.
With the right help, things can become clear, and you can take real action. Even if trust feels broken, there’s a process in place to listen, look into things, and give a response.
Taking this step helps you feel more in control and reminds you that your investment and your voice still count.
