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Can u ask a mutual fund to issue a fresh dividend warrant if you have not encashed the one sent earlier.?


In case the validity period of a dividend cheque / warrant expires , can we ask the company to issue a fresh one? And do they normally issue new ones?

Of their own, no fresh dividends warrants are issued by any MF due to certain financial / security reasons.

In your case, you must get back to the MF with the old dividend warrant, requesting them to re-validate the old warrant itself. It is the sole discretion of the MF to either re-validate the old one or issue a fresh in cancellation of earlier one. MFs are guided by their internal guidelines on this issue. The genuine beneficiary needs to get the dividend amount whether by re-validation or issue afresh.

huh? if you own the funds they pay dividens on THEIR schedule not yours. And for mutual funds you always want your dividends reinvested.

Normally, mutual funds wait till the expiry date of the warrant plus a reasonable time for claim by banks, since there are multiple points of encashment. But this extra period does not exceed about 3 months. After reconciling the dividend payment account, they would deteact unpaid dividends and start attending to complaints like yours. So, in about a year, you will receive a duplicate DW. Some MFs would like you to execute an indemnity bond. Better not to be touchy about this, since there is little likelihoof of the bond being enforced, since, fraudulant encashment, if any by any miscreant, would have come to light within that period.
It is better to seek electronic credit of dividends in MF schemes, but most MFs have such arrangement only with a few banks, and if your bank is not one, you have to go about the traditional way. with reforms regularly, soon DW system will be replaced by mutual agreement between the SEBI and the RBI.

yes

Yes. If you are having the earlier warrant with you not encashed for various reasons and the warrant is expired you have to send the same and they will send a new warrant with out any questions. In case if you misplaced the same and it not reached you then you may ask for a duplicate warrant then also you will get the warrant after giving indemnity as required by mutual fund..

NO I CAN'T ASK

after expiry of validity period dividend warrant can be sent back to registrar for revalidation, this is being done in few days, and if u have lost the divident warrant than u have to apply for fresh duplicate warrants and clearing of some formalities required by registrar then u will get duplicate divident warrant.

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