Infrastructure Development Finance Company [IDFC] — Redemption amount yet to be received

Address:

A-2/3 RAIL VIHAR, INDIRAPURAM, NITI KHAND -3

I have already uploaded my document and shared my complain in detail. I am sharing this additional information.

I would like to know from IDFC what this mail means.

From:
Date: Fri, Feb 12, 2021, 3:13 PM
Subject: Request for the address change
To:
Cc:, [protected]@gmail.com

Ref: SIM/STAT/IDFB/288941B/11705325 Dt.: 12/02/2021

Dear Investor,

Unit : IDFC FIRST BANK LIMITED - INFRA BOND TRANCHE 2
Folio No: IDB0227304
Subject : Request for the address change

This is with reference to your mail regarding on the captioned subject.

In this regard, we regret the inconvenience caused and would like to inform you that we have acknowledge your request for redemption and the redemption amount will be directly credited to the below bank account on 22/02/2021 as 21/02/2021 is a holiday

AND this is a standard response that I have been receiving till date.

Ref : IDFB / 315074B

Dt. :26 Feb 2021

Dear Sir / Madam,
Unit: IDFC FIRST BANK LIMITED - INFRA BOND TRANCHE 2

Folio No.: IDB0227304

We thank you for contacting us thru e-mail with respect to redemption procedure.

We would like to inform you that the last date for submission of documents to update bank mandate was 01/02/2021.

We are unable to update the bank details / address at this stage, since we have received your email beyond the cut-off date.

Kindly note that the payment will be processed through NEFT / NECS to the registered bank account. In case no bank account is registered, then the payment will be made through Demand Draft / Warrant on maturity date and will be forwarded to you by courier / speed post to your existing registered communication address.

The maturity date of the said bond is 21/02/2021.

We look forward for your cooperation in order to serve you better.

Thanking you,

Yours faithfully

for KFin Technologies Private Limited

Swetha balashetty
Corporate Registry
Toll Free No:[protected]
einward.[protected]@kfintech.com

SO I DON'T UNDERSTAND WHAT KFINTECH MEANS THROUGH THEIR INCONSISTENT MAILS.
IF THEY SEND THE REDEMPTION THROUGH CHEQUE BY POST IT WILL NEVER REACH ME BECAUSE DESPITE SENDING A REQUEST FOR CORRECTING MY ADDRESS, THEY AGAIN RECORDED MY WRONG ADDRESS AND NOW THEY SAY THE LAST DATE FOR UPDATING CHANGE IN ADDRESS HAS LAPSED.

WHO IS RESPONSIBLE FOR RECORDING THE SAME INCORRECT ADDRESS DESPITE PROVIDING THE CORRECT ADDRESS AND SUPPORTING DOCUMENTS IN JANUARY 2021 ITSELF WAY BEFORE THE CUT OFF DATE. KFINTECH TOOK 12 DAYS TO RESPOND AND AGAIN RECORDED THE SAME INCORRECT ADDRESS FOR WHICH I HAD MADE A REQUEST FOR CHANGE.

AND NOW BECAUSE OF A MISTAKE ON THE PART OF KFINTECH I AM BEING PENALISED AND INFORMED THAT I HAVE MISSED THE CUT OFF DATE??

Is there a date by which IDFC intends to process the redemption amount. How can they send such a definite mail and keep quite.
This unprofessional attitude after 10 years of investing in long term bonds in a company like IDFC is absolutely disappointing and disgusting AND THEIR SERVICES AND COMMUNICATION VERY UNPROFESSIONAL.