As per the account statements in various mutual funds, all my investments are in joint names. I want to delete a joint name (first or second holder) and add a new name. Also, I have to delete the bank account details and add the correct bank details for redemption. Please guide me.
- A K Khosla
You can't change or add new names of unit holders. Even deletion of names can happen only on death of the investor. However, if the units are held in the demat mode, an off market transaction can be carried out to another demat account with different holding names.
A request letter from the unit holder along with documentary proofs should be submitted to change the bank account details.
This article was originally published on August 07, 2015.
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