View Full Version : an nri hasinvested in elssfund with a 3year lockin ,can he redeem within1week from dateof inv for emergency?


vasu
03-28-2005, 05:29 AM
an nri invested an amount higher than 20lacs in elss mutual fund in india and the scheme has lockin of 3 years.can he redeem the investment within a week's time from the date of investment due to emergency medical reasons?also he has not claimed any tax gains using this investment.kindly advice.

NJReddy
04-19-2005, 03:34 AM
It depends. I do not thing that is passable. But still you can try. Consult that fund. Read their terms and conditions once again. Normally the fund might have paid commission on that amount to the agent which they cannot recover. I came to know that Bajaj Alliance is paying highest commission to their agent (about 20%). Anyway try with the mutual fund.