Comment on Introducing Coin - our Direct Mutual Fund Platform

Saurabh commented on 19 May 2017, 02:58 PM

Hi Nithin,
Thanks for personally looking into the issue. I am trusting on you.
But you have to agree that fault is in your system also. Unless the units come to Demat, you cannot send successful allotment message to investor. If you have sent successful allotment message then it means everything is successful and investor is rest assured.
For example if I sell fund then first your system check na whether I really have that many units/stocks or not in my account. Or it just sell and wait for Clearing Corporation to raise issue that On Man he doesn’t have Units how have credited investor account, please get the money back!!! Similarly unless the credit of funds happen to Demat your system should not send successful allotment and till then I believe its all your responsibility. I agree rare failure can happen in transfer from Clearing corporation to demat (though in errorless world it should not). But then it means allotment is not successful and your system is still responsible to make it allotted successfully. I hope I am clear.

Hoping the issue is resolved fast. And you give me confidence that next time I purchase I dont have to worry whether this time it will be alloted or not.


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