Stay Away from Navi AMC – Fraudulent NAV Allocation & Unreliable Transactions!

I recently started investing in a Nifty 50 Index Fund and chose Navi Nifty 50 Index Fund Direct Growth due to its much lower TER compared to others in the category. However, my experience has been nothing short of a disaster, with fraudulent NAV allocations and transaction failures. In just a single month, I have already faced two issues with them despite placing my orders well before the cutoff 3:00 PM cutoff time via MFCentral.

Instances of Fraudulent Allotment:

1st instance: Placed an additional purchase request before the cutoff—no units allocated, no update for days!

2nd instance: Received SMS confirmation before 2:30 PM, yet was allotted units as per the next day NAV instead of the same day. Clear SEBI rule violation!

I've come to the realisation that Navi AMC is unreliable and incompetent. Don’t fall for the low TER trap—it’s worthless if your transactions aren’t honored correctly. I’ve invested in multiple AMCs and never faced such issues elsewhere.

I’ve escalated this to SEBI SCORES, stopped all further investments in Navi AMC for now. Just wanted to knopw if it's just me or has anyone else faced similar issues with Navi?