IDBI Bank — Full amount not received against IDBI Deep Discount Bond

Address:

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai 400005

Dear Sir,

I have submitted the matured IDBI Deep Discount Bond 1996 after Maturity on 19.03.2021 (maturity date was 18.03.2021) at your service provider Ken Technologies Bangalore. The face value was Rs.200000.

I was in a transferable job and we used to frequently move from one place to other after completion of each projects as per the companies directions. Your service provider has informed that this bond was made as buy back in the year 2000 itself from IDBI. I invested this amount for 25 years for really good returns by investing my complete savings. You must have sent the intimation about the same to the address as mentioned by me during the purchase of bond. Since I moved from there and the intimation must have been returned back to you. I am not at all aware of the same and kept the bond in safe custody for 25 years with me. At that time even we were not having the phone itself. The era before 25 years was totally different than today. The communication these days is so fast & instant. Please do not compare the same 25 years earlier.

Only Rs.19603 got deposited to my account against the promised amount of Rs.2, 00, 000. I was shocked to see the same. Till now I am having sleepless nights. Rs.5300 was too big an amount during those times for me. I have invested all my savings thinking that one day it will help us in a big way specially for the kids education. I invested mainly in Bond because it was fully Guaranteed & IDBI was like part of the Government itself.

I never even thought that IDBI can withdraw this and go for buyback (I came to know the same only through your service provider after maturity submission). Otherwise I would have kept a track on the same. Even I would have withdrawn or reinvested (Since this issue is 25 years before and the thought process then can only be imagined).

I am requesting you once again to fully compensate me since cases like me must be very less and the amount of compensation is meagre amount for such a huge Banking company. I am also informing you that I am not fault and this is invested to get the returns only after 25 years. The amount was also with you for all these 25 years and you van imagine being in the banking sector about such investments as well as returns.

I attested all the documents for your ready reference. Kindly compensate in full (without any deduction whatsoever) at the earliest.

Thanking you
Suresh