@Sameet Upledge of Mutual Funds
Your unpledged units cannot be redeemed directly. You need to first unpledge your mutual fund units. Once the unpledge request is processed, you will be allowed to place a redemption request.
Please note that unpledge requests are accepted between 9:00 AM and 3:00 PM on business days, and the units will be added back to your free units on the next business day.
Example: If a client places an unpledge request on Monday, the units will be available for redemption as free quantity on Tuesday.
Note: At the time of placing an unpledge request, our systems will verify that there is no margin utilized or negative balance against the pledged mutual fund holdings. If the conditions are met, the collateral benefit will be removed upon successful unpledge, and your trading limit will be reduced in real-time.
There is a typo error in above article from dhan. I have highlighted the error in Bold letters . I think it should be Your pledged units cannot be redemmed directly.