[Resolved]  Reliance Power Ipo — Unprofessional handling of refund

Dear Manager at Karvy,

With several email on the subject, we are disgusted with the unprofessonal service offered by a reputed firm as Karvy. We just got a hopeful email as marked below in red stating that the amount would be refunded shortly and so far there is no news.

we are contemplating legal action but before that we want the address of the general manager and the chairperson of Karvy. As you can see the lengthy emails and the passing of phones from one to another and the avoidance is totally disgusting from your firm.

Please give us your postal address to take further official steps.

please find as attached the relevant documents.

thankyou,

Anthony D. Santos/Benedicta D'costa.



--- On Wed, 4/16/08, tony <[protected]@yahoo.com> wrote:


From: tony <[protected]@yahoo.com>
Subject: Refund matter pending since Dec 2007. Please action urgently.
To: reliancepower.[protected]@karvy.com
Cc: "benedicta dcosta" <[protected]@yahoo.com>
Date: Wednesday, April 16, 2008, 10:50 AM

Dear Sir, Following your email below, we would like to inform you that we have not received any credit in our account and the matter is still pending despite your email below regarding the refund amount. please advise us as soon as possible as we still await the refund. Would appreciate if can intervene in this matter. For your record this exchanges and follow ups are going on since Dec 2007.We await your acknowledgement in this matter.Thanks. regards.Anthony D. Santos/ Benedicta D'costa.

reliancepower.[protected]@karvy.com wrote:
Dear Investor,



We thank you for your e-mail with respect to your application made in the subject IPO.



please inform you that the refund amt shall be released within shortly.



Regards
Customer care

Karvy Computershare Pvt Ltd




________________________________

From: RIS Customer Care
Sent: Thu 4/10/2008 7:33 AM
To: Reliance Power - IPO
Cc: Md Salauddin
Subject: FW: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)...please action urgent on sight


Dear Sir/Madam,

This is regarding Non Recepit of Refund Order, For the Application made in the Reliance Power IPO with the bearing No : 92022196 and for the same investor as forwarded the required details to Call Center. So kindly look into this matter and revert back to Investor by marking CC to [protected]@karvy.com in order to do the needful.

Thanks & Regards,
Riscc,
Chiran.
________________________________

From: tony [mailto:[protected]@yahoo.com]
Sent: Tue 4/8/2008 12:29 PM
To: RIS Customer Care; Customer Support; Reliance Power - IPO
Cc: Haridas Mooriyath; benny; sant santanche; albino dsouza
Subject: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)...please action urgent on sight


Dear Sir,
Following so many exhanges of email on the subject below. Our next step is to take legal action and go to the consumer forum and complain against Karvy Hyderabad.
This is the worst service Karvy with all its reputation has given.
This is the last email I will be sending and the letters to Karvy will follow if I do not get any response.
We tried calling and the office of Karvy in Hyderabad just keeps transferring the calls from one to another. Is this professionalism???
The only person we spoke to last was Mr Mahesh who asked us to furnish details and after all the details were given, they are just not responding.
We await your response on this matter at your earliest. Please note this matter has been pending since Dec, 2007.
regards/Anthony Santos.



benny dcosta wrote:

7th April, 2008.
Dear Sir,

With reference to my investment in Reliance Power Limited to the amount of Rs.1, 99, 950/-and various email correspondences beginning from March 06, 2008 and six reminder emails as attached herewith.

Inspite of repeated reminder emails checking on the status of my refund, there has been only two email responses from your end as under :
1) Email dtd 06/03/08 from Mr.Mahesh requesting for details on my application. I have submitted the requested information and all necessary documents by email dtd 10/03/08, 13/03/08 and 16/03/08.
2) Email dtd 17/03/08 from Ms.Vimala, advising us that our details have been taken into consideration and to wait for sometime. (No further response has been received since then.)

Today is the 7th April and till date I have not received the refund of the amount nor any further update on the status of my refund. Over two months have elapsed since the amount has been deducted from my HDFC account.

The only information that was fed in the Reliance application form by error was the Demat Account number which was the Joint Demat Account, whereas the application was made in Single Name.
Once again I am providing these details to you as under :
Joint Demat Account No. Cliend ID 21075461 DP ID IN301151 (mentioned in the Reliance Appl.Form by oversight/error)
Correct Infomation Single Demat Account No. Client ID 24489895 DP ID IN301151 Name: Benedicta D'Costa

You are kindly requested to look into the matter and advise us or atleast advise us the contact person whom we can pursue the matter further.

Appreciate your urgent action as the matter has been delayed for a long time.

Thanking you,
Benedicta D'Costa

Note: forwarded message attached.
________________________________

You rock. That's why Blockbuster's offering you one month of Blockbuster Total Access, No Cost.Date: Wed, 26 Mar 2008 02:29:47 -0700 (PDT)
From: tony
Subject: Fwd: RE: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)
To: [protected]@karvy.com
CC: [protected]@sushilfinance.com, [protected]@karvy.com, reliancepower.[protected]@karvy.com,
benedicta dcosta, [protected]@yahoo.com



Dear Sir,
We are surprised at such low level and unprofessional service given. The replies are so unprofessional and no details are divulged to the query. Please find below the entire correspondence from the beginning. Please also be kind to advise the outcome and keep us posted.
In the past Karvy being reputed, has dealt in a very professional manner and for the case as below, there is no response or information. When contacted on phone, we were transferred from one to another and finally they sought information on broker details etc. After all the chasing, there is no definite response. We are told that no shares were allocated. So who has the money? is it ICIC bank? Reliance? or Karvy who handles it for Karvy.
Please check on the matter below and reply at your earliest on email [protected]@yahoo.com

thanks/regards/Benedicta D'costa/anthony santos



To: M/s. KARVY 26th March, 2008

Dear Sir,

Further to my e-mail dated 24/03/2008, please note my single name Demat Account No. Cliend ID 24489895 DP ID IN301151 Name : Benedicta D'Costa
As the Reliance IPO applicationed was filled in single name.

Whereas in the Reliance IPO application Form, I had mentioned the Joint Demat Account no. Cliend ID 21075461 DP ID IN301151 which is in joint names, due to oversight.

Thanking you,
Benedicta D'Costa


Note: forwarded message attached.
________________________________

Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. Date: Mon, 24 Mar 2008 03:07:06 -0700 (PDT)
From: benny dcosta
Subject: Fwd: RE: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)
To: karvy
CC: Reliance Power-Karvy,
benny, sant santanche,
Haridas-Sushil Finance


24/03/2008
Dear Sir,

Reference to your below mentioned e-mail dated 17/03/2008, and my several correspondence on the subject, till date I have not received any response from your end.
We have provided you with all the information requested regarding the said investment (given to us by our broker). We fail to understand the delay in refunding the amount back to our account inspite of not being allocated any shares. The amount was deducted from my HDFC account on 24/01/2008, two months have elapsed since then and I have still not received the refund of the amount invested.
Appreciate if you could urgently look into the matter and arrange to return the amount invested into Reliance IPO back to my HDFC account.
If there is any problem regarding the said investment, kindly advise us so that we can take up the matter with Reliance, due to KARVY's inability to handle the case. Please keep us briefed on the developments.

Thanking you,
Benedicta D'Costa


From: [protected]@karvy.com
Mon, 17 Mar 2008 10:47:33 +0530
Dear Sir,

With reference to your e-mail, we wish to inform you that
the details which you have forwarded are taken into consideration. Hence,
we request you to kindly wait for the same.

Thanks & Regards,
Riscc.,
Vimala.

________________________________

From: benny dcosta [mailto:[protected]@yahoo.com]
Sent: Thu 3/13/2008 12:44 PM
To: RIS Customer Care
Cc: benny; sant santanche
Subject: Fwd: RE: Reliance Power Ltd IPO (Non-receipt of shares -
Application No.[protected] Benedicta D'Costa)


Dear Mr. Mahesh,
Further to my e-mail of 10th March, 2008, and details provided, I am
attaching herewith copy of the Reliance Power application form, probably
this might help you in searching my records.

Appreciate your assistance and early response.

Thanking you,
Benedicta D'Costa


Note: forwarded message attached.
________________________________

Never miss a thing. Make Yahoo your homepage. Date: Sun, 16 Mar 2008 04:28:12 -0700 (PDT)
From: benny dcosta
Subject: Fwd: RE: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)
To: karvy
CC: reliancepower.[protected]@karvy.com, benny


Dear Mr. Mahesh,
Further to my e-mail dated 13th March, 2008, I am enclosing herewith the following :
1) Acknowledgement receipt of my Reliance IPO application.
2) HDFC Bank statement (showing a debit to the amount of Rs.1, 99, 950/- on 24th Jan.2008, vide cheque no.177796 from my HDFC account) by Reliance Power IPO.
3) Application Form copy (attaching herewith once again)
4) Broker's response to your queries and subsequent details regarding the IPO mentioned below.
Broker's Response to the queries reg. my application.
Dear Ms.Benedicta,

Please note the following points:
1) Application was uploaded and sent to ICICI Bank. Bidding details are given below. ICICI bank is not responding our request for Bank Serial Number.
2) As per this application, you have quoted Rs.430/- per share for 465 shares (465 * 430 = 1, 99, 950/-) The final price discovered for non-institutional category (applications made for more than Rs.1 lac) was Rs.450/- hence your application is invalid for any allotment. Discounted price of Rs.430/- was for only retail applications (applications up to & including Rs.1 Lac).
3.As such, you may follow up for refund of application money. Please forward copy of your bank statement where cheque encashment is recorded to KARVY along with Biding details given below. It is evident that your application was bid & forwarded to bank, hence there should not be any ambiguity in sending you Refund by Karvy. You may also provide Client Master Copy of your Demat Account where bank details are provided.



BookId BidId PendQty Alloc CheqRd ApplNo Client Name BidDate BidTime

[protected] Elect Yes 92022196 BENEDICTA 18:01:08 16:33:44


Thanks,
Haridas

Appreciate, as you have all the possible details to kindly look into the matter and advise me the status of my application, as soon as possible, since its been a long time. If shares have not been allocated, kindly arrange to refund the amount back to my account with HDFC.

Thanking you,
Benedicta D'Costa


Note: forwarded message attached.
________________________________

Never miss a thing. Make Yahoo your homepage. Date: Thu, 13 Mar 2008 00:14:12 -0700 (PDT)
From: benny dcosta
Subject: Fwd: RE: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)
To: karvy
CC: benny, sant santanche


Dear Mr. Mahesh,
Further to my e-mail of 10th March, 2008, and details provided, I am attaching herewith copy of the Reliance Power application form, probably this might help you in searching my records.

Appreciate your assistance and early response.

Thanking you,
Benedicta D'Costa


Note: forwarded message attached.
________________________________

Never miss a thing. Make Yahoo your homepage. Date: Mon, 10 Mar 2008 23:15:51 -0700 (PDT)
From: benny dcosta
Subject: RE: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)
To: [protected]@karvy.com
CC: benny, sant santanche


Dear Mr. Mahesh,

Thanks for your prompt response. At the moment I have the following information, as I have made this investment from Kuwait through a middle-man who in turn sends all the applications that he receives to a broker in Mumbai. Please check based on the following information, if you can assist.

1) Name of the Applicant : Benedicta D'Costa Application No. 9 2022196
2) Number of shares applied : 465
3) Cheque/Demand Draft No. and date : Cheque No.177796 dated 15/01/2008 for Rs. 1, 99, 950/- drawn on HDFC Bank, Vishal Shopping Centre, Andheri (E), Mumbai 400 069.

4) Name and branch of the bank where the application was deposited. (I dont have the information on the same) But the cheque was deposited and cleared by HDFC bank on 24/01/2008 as shown in my HDFC bank statement.

5) Bank Serial No. under which your application has been listed by the bankers in the bank schedule (I dont have information on the same)


Appreciate your assistance.

Thanks,
Benedicta D'Costa

[protected]@karvy.com wrote:

Dear Sir,

With the reference to your e-mail with respect to your application made in the subject IPO. In this connection, we wish to inform that despite a through verification of records we are unable to locate the details of your application. Kindly furnish the following information to us.





1. Name of the applicant as mentioned in the application form.

2. Number of shares applied.

3. Chequedemand draft no. and date

4. Name and branch of the bank where the application was deposited.

5. Bank serial no. under which your application has been listed by the bankers in the bank

Schedule.



Please help by furnishing all the details to enable us to sort out your query.


Thanks & Regards,
Riscc.
Mahesh.M

________________________________

From: benny dcosta [mailto:[protected]@yahoo.com]
Sent: Thu 3/6/2008 3:49 PM
To: RIS Customer Care
Cc: benny; sant santanche
Subject: Reliance Power Ltd IPO (Non-receipt of shares - Application No.[protected] Benedicta D'Costa)


Dear Sir,

I had made an (NRE) investment in Reliance Power Ltd. (in single name) and have till date not received the allotment of shares nor any intimation about the same.
Could you please check the status of my application at your end, the details of the same are as under :

Application No. 9 2022196 dated 15/01/2008 applied for 465 shares
Cheque no.177796 dated 15/01/2008 for Rs.1, 99, 950/- drawn on HDFC Bank, Vishal Shopping Centre, M.V.Road, Andheri (E), Mumbai 400 069.
(RTGS/NEFT IFSC:HDFC0000086)

DP ID IN301151 Beneficiary Account No.21075461

HDFC Account No.[protected]

I have checked with the HDFC Bank Statement and the cheque issued for the Reliance IPO has been cleared by the HDFC bank on 24th Jan. 2008.

Appreciate if you could kindly look into the matter and advise me about the status of my application by email.

Thanking you,

Benedicta D'Costa

________________________________

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Disclaimer : Information transmitted in this e-mail is proprietary to KARVY Group of companies. It is intended only for the addressee and may contain private, confidential and/or privileged material. Views contained in the email message are those of the sender and may not necessarily reflect those of Karvy. Review, retransmission, dissemination or other use of this information by the person other than the intended recipient is strictly prohibited. If you have received this communication in error, please contact the sender or notify [protected]@karvy.com and delete the material from any stored format/computer.



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Disclaimer : Information transmitted in this e-mail is proprietary to KARVY Group of companies. It is intended only for the addressee and may contain private, confidential and/or privileged material. Views contained in the email message are those of the sender and may not necessarily reflect those of Karvy. Review, retransmission, dissemination or other use of this information by the person other than the intended recipient is strictly prohibited. If you have received this communication in error, please contact the sender or notify [protected]@karvy.com and delete the material from any stored format/computer.