[Resolved] Karvy — Karvy folio no. idc 0264168 - non-payment of idfc ltd infra bond tranche 3

Asish2001

from Kolkata, West Bengal

Address:	500034
Website:	www.karvy.com

With reference to the earlier complaint dated 08-may-2016 regarding non-payment of the redemption money for folio no. Idc 0264168 (Idfc ltd infra bond tranche 3) i am still waiting to get it resolved from karvy.

Even after the reply from karvy on 09-may-2016 (After the redemption cheque dt 23.03.2016 bounced) that it would be credited to my account through neft within 6 days but, still it has not been done. Are you taking this seriously? What about the loss of interest for the last 2 months?

This is pure harassment to the customer which is just not expected from an organization like karvy.

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Sep 5, 2016

Complaint marked as Resolved

Karvy customer support has been notified about the posted complaint.

Verified Support

May 19, 2016

Karvy Customer Care's response Dear Investor, We regret for the inconvenience. We would like to inform you that we have received your document for A/c number correction. We have forwarded the same to the bank and would be dispatching a new DD to your address once we get an acknowledgment from them. Regards, Team Karvy

May 20, 2016

Updated by Asish2001 On 09-May-2016 you replied that "Dear Investor, We regret for the inconvenience caused. This is to inform you that we have received the Demand Draft bearing No: 021053 dt. 23.03.2016 for an amount of Rs.29, 740/- from your end, we will make the payment through NEFT. Please bear with us for 6-7 working days"

and now on 19-May-2016 you are replying for correction of Account Number. You are just replying 2 different things at 2 different times.

Shall I assume that you are not willing to pay my money back and this case falls under fraud case from Karvy

Verified Support

Aug 05, 2016

Karvy Customer Care's response Dear Investor, We regret for the inconvenience caused. The DD was returned to us for correction of the account number which was printed on the DD. We need to send a request along with the original instrument to the payment bankers for cancellation of the DD and issuance of a new one without any account number and send it back to us. The process generally takes around 20-25 working days due to physical movement of the instruments. Once we put the DD into this process, we get requests from either company or the investor to speed up the process or reminders that they still have not received the corrected instruments. Under such circumstances, we are forced to ask the payment banker to cancel the instrument and process the payment through NEFT. This takes around 6-7 working days compared to the above 20-25 day period. This is because the physical letter needs to be forwarded to the payment bankers for processing the electronic payment. This is the reason for the two conflicting statements above. Assuring you of our best services at all times. Regards, Team Karvy