Ssnnl — Bonds

Address:New Delhi, Delhi

I am holding Sardar Sarovar Narmada Nigam Limited Bond which I had purchased in 1993 for Rs. 3600/= which has matured in Jan, 2014. I was to receive a sum of Rs. 1, 10, 000/= on maturity. Now, I have come to know that SSNNL has prematurely redeemed these bonds for Rs. 50, 000/= in 2009 and they have shed away the responsibility of paying any interest after 2009. I am unable to reconcile with this fact as how can SSNNL unilaterally decide and behave so irresponsibly with the gullible common people who have blind faith that their money is safe with Govt. undertaking Bonds.
Moreover, it is pertinent to mention here that Rs. 3600/= (which was more than 1 month salary in 1993) and the amount which is being paid back i.e. Rs. 50, 000/= is peanuts in terms of its purchase value in comparision to the money invested.
I refuse to accept the unilateral decision of SSNNL and as I have not got any money so far, I want Rs. 1, 10, 000 /= to be refunded to me as was promised at the time of purchase.
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    New Delhi, Delhi
    Delhi
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