Subject: ARS Bond Investor ID no.[protected]; My bond certificate numbers are: 40265694 and 40265686
I am a holder of ARS Bonds and I have still not received the Maturity Payment. After waiting for a month for the payment to be credited to my account, I started making enquiries and it was only then that I saw on the website that a press release dated 1 April 09 (due date of the bond) has been issued saying that payment will be made only after submission of a filled up form that can be downloaded from the website. I tried searching for the form but it was nowhere to be found.
I have the following issues with UTI:
1. Why was I not informed, either by email or by a letter of this press release?
2. Why has the money not been credited to my automatically? The certificate does not state that it is required to submit the original certificate.
3. Who will be responsible for the loss of interest on my funds?
4. Why is the form not available on the website?
5. Why should I have to spend money to send the form to you, the money which I should be getting automatically?
UTI always cheats its investors. It sent flyers several weeks in advance to switch and invest the ARS proceeds in to other UTI products. But it did not send redemption guidance if the original is required to be surrendered.
When UTI MEP 98 was coverted, it did similalry delay the payment.
Thanks
RK Mehta Was this information helpful? | 
