1. What this policy covers
Harikrushna Investment is a distributor of financial products. We do not sell goods or subscription services, and we do not collect investment money or premiums in our own name. This policy explains what happens when a transaction is cancelled or reversed, and why refunds are governed largely by the product provider rather than by us.
2. We do not collect investment funds
All payments for mutual fund investments, insurance premiums, deposits and bonds are made directly by the investor to the asset management company, insurer or issuer through banking channels. We do not accept cash and we do not accept cheques or transfers in our own name for investment purposes. Consequently, we hold no client money from which a refund could be issued.
3. Mutual fund transactions
- A purchase or SIP request that has not yet been processed can generally be withdrawn before the applicable cut-off time; tell us immediately so that we can attempt to stop it.
- Once units are allotted, the transaction cannot be cancelled. Your route out is redemption at the prevailing net asset value, subject to exit load and to lock-in where applicable.
- Where an application is rejected by the AMC or registrar, the amount is refunded by them directly to the investor's registered bank account, in the manner and time frame prescribed by the AMC.
- Redemption proceeds are credited by the AMC or registrar within the timelines prescribed under regulation for the scheme category concerned.
4. Insurance policies
- Every new policy carries a free look period as prescribed by IRDAI, counted from the date of receipt of the policy document, during which the policy can be returned to the insurer.
- On cancellation within the free look period, the insurer refunds the premium after deducting proportionate risk premium, medical examination costs and stamp duty, as per its terms.
- After the free look period, surrender or cancellation is governed entirely by the policy terms and by the insurer's decision. Surrender values may be nil in the early years of a policy.
- All such refunds are paid by the insurer directly to the policyholder. We assist with the paperwork, but the decision and the payment rest with the insurer.
5. Fixed deposits and bonds
Premature withdrawal of a company deposit or the sale of a bond before maturity is governed by the terms of the issue and by the issuer's rules, and may attract a penalty, a lower rate of interest or a market-determined price. Any repayment is made by the issuer to the investor's registered bank account.
6. Fees charged by us
We do not charge investors an advisory or service fee. Our remuneration is commission paid by asset management companies and insurers, as disclosed in the respective product documents. Since no fee is collected from you, there is no fee for us to refund.
7. Payments made in error
If you transfer any amount to us in error, notify us at info@harikrushnainvestment.com immediately with the transaction reference. Verified amounts received in error will be returned to the originating bank account within 7 working days of verification.
8. Contact
For any question about a cancellation or refund, write to info@harikrushnainvestment.com or call +91 98792 80192.
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