[Resolved]  Ssnnl Bonds — REDEMPTION REQUEST FOR DDBs - FOLIO NO 236774

Address:

Gujarat

We have not received any communication from SSNNL about redemption of bonds in January 2009 . Now we received a letter asking for PAN details for redemption .

MY companit is why SSNNL delays redemption on the pretext od receiving original bonds. They should send the proceeds to investors without delay just as ICICI and IDBI do .without asking for certiificates They earn interst on delay of payments . They have no courtesy of reminding the investors to redeem the bonds .Which actually means that they have frozen the funds to be paid as 50000 per bond no matter when the investor is able to send them discharged certifcates .

Big corporation like SSNNL should not cheat invetors first by not honouring commitment of promissory notes and then not paying automatically and earning interest on investorsmoney without actually passing on any interst on such delay in payment to investors .