No Redemption Outstanding in Kotak Mutual Fund FMP Series 127: Nilesh Shah
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This is in regard to a fake rumored and forwarded message being circulated on WhatsApp about the Kotak Mutual Fund FMP Series 127 it says that “The AMC has written to its investors that it may not be able to pay the entire redemption amount on its FMP Series 127”.
Kotak MD & CEO Mr. Nilesh Shah took to twitter to clarify this that Kotak MF FMP series 127 has been fully redeemed in September 2019 and there is no redemption outstanding in this FMP.
This is with reference to mischievous statements being circulated on WhatsApp. We would like to clarify that Kotak MF FMP series 127 has been fully redeemed in September 2019 and there is no redemption outstanding in this FMP pic.twitter.com/UfMOOOXMrs
— Nilesh Shah (@NileshShah68) May 16, 2020
He also mentioned to one of the twitter users that “will take suitable steps to protect our Unitholder’s Interest and our Brand including appropriate legal action.”
Good suggestion Ankit. We are investigating the mater and will take suitable steps to protect our Unitholders Interest and our Brand including appropriate legal action.
— Nilesh Shah (@NileshShah68) May 16, 2020
It is advisable for all the investors to stay alert from such fake and rumored news being circulated on WhatsApp, this could create a panic among other investors and spreads the negativity. Request all investors to kindly check only official communications from AMC in regard to your investments rather than relying on any rumored WhatsApp messages.
Hi, I’m Managing Director at Gurpreet Saluja Financial Services where I help my investors to invest in mutual funds and achieve their financial goals. I’m also a Value Investor and here I write about Personal Finance & Investing.
