[Resolved]  IDBI - Deep Discount Bond - 96 — bonds recalled-No refund

I also purchased the bond i.e Deep Discount Bonds from IDBI in 1992 but they have recalled in 2002, in that case they doesn't inform us as our addresses is available with them ...

After a long period of 7 yrs I came to know and redeemed from but they give Rs. 12500/- insteam of 25, 000/- as prescribed in the bond...
I just view in CNBC Awaaz that one of the investor has won in the same... as he filed with Gujrat High Court for the same...

THE ATTITUDE OF THE BANK IS THAT OF TALIBANS I AM STILL WAITING FOR THE MONEY TO BE RECEIVED FROM THE BANK I

I have smilar experience. I have applied for repayment of 12000/-. Meanwhile tried to find the gujrat high count case reference on the official website of high court of Gujrat.
If anyone has the case referance and details can you pls share?

I came to know yesterday ( 18th May'09) by registered post with open envelop that IDBI has recalled the Deep Discount bond series1 1992 from 31st march 2002 and no interest will be paid thereafter. All the investers have been cheated by IDBI by not paying the last 7 years interest. There was no communication through post or otherwise sent to me by IDBI earlier.

I came to know from this site that someone has filed the case against IDBI in Gujrat high court. If someone has the Gujrat High court order no and date then please inform me.

simlar case with me

i also purchased the bond i.e Deep Discount Bonds`96 from IDBI in 1996

bank post letter after 7yr I came to know on 26 may2009

any information regarding this pl infome me


bhupinder singh
faridabad
[protected]

IDBI should have some human approach in paying interest for 7 years. many have invested in such long term bonds for the benefit of their children for their studies etc. it is the fact that they have used the investors money for the last 7 years and they should pay interest. will IDBI lend money without interest for 7 years?

I RAJINDER SINGH PADAM FEEL SHOCKD WHEN I RECIVED A LETTER DATED 27 APRIL 2009 OF MY IDBI DEEP DISCOUNT /RETIREMENT BONDS (1996) FROM IDBI BANK, IN WHICH DECLARTION THAT COMPANY WILL NOT RESPONSIBLE TO GIVE ANY INTEREST ON BONDS AFTER 1 AUGUST 2000 WITHOUNT ANY PERSONAL INTIMETION TO BONDHOLDER WITHOUT ANY CONFOMATION AS SUCH BY BOND HOLDERS, NOW IDBI BANK TRYING GRABE INTEREST APPROX OF 7 YEARS .JUST TO SAY BY BANK THAT ALREADY PUBLISHED IN LEADING NEWSPAPER, IN CONFORMITY WITH THE PROVISIONS OF THE OD.THIS MY REQUEST TO IDBI BANK TO GIVE JUSTIC THOSE INNOCENT & BELIVE IN THE NAME, GOODWILL OF IDBI BANK & ALREADY PLANNED FUTURE PROSPECT FOR THERE CHILD.[protected]RAJINDER SINGH PADAM 68 NARANG COLONY JANAK PURI NEW DELHI 110058. MOBILE =[protected] LANDLINE=25542400 WAITING FOR YOUR"S REPLY

I am also sailing in the same boat. Out hard earned money was happily spent by the executives of the company and cheating all the investors with out paying intrest for the last 7 years, what all the Government machineries are doing for protecting the geniune investors who are paying from thier hard earn money for the future of their children. This is a great cheat from IDBI. while the company could address the investors individually after 7 years eating their money why cant they inform in the year of redemption i.e in 2002. THIS is another BLADE COMPANY-BEWARE of other funds being floated by this ...???

I recently received the letter from IDBI on april 29, 2009 stating that I have not redeemed my bond. Asking to redeem the bond immediately as the bond is not accuring interest fromAugust1, 2000. I am really shocked to see this letter.
I am really dispointed with IDBI. I have invested in Deep Discount Bonds from IDBI '96 for Rs.5300/-, which had a 25 years maturity value of Rs.2 Lakhs each. These Bonds were purchased hoping to get good retirement money eventhough I had lot of financial troubles during that time. What best we can do about this.. is there any case against IDBI related to this bond.

It is definitely a deliberate attempt on the part of IDBI to cheat its depositors. I am also one of them. All the depositors need to form an association and file a cheating case against IDBI.

IDBI Deep Discount Bond 1992 (series I) are in the form of Promissory Note for Rs.1, 00, 000/- and to be paid at the end of 25 years i.e. on 31/3/2017. There are options which can be exercised after 5, 10, 15 or 20 years by the Bond Holder. If the Bond Holder does not exercise any option, then IDBI is bound to pay a sum of Rs.1, 00, 000/- to the Bond Holder as promised at the end of 25 years. This also applies to Bonds issued in 1996.

Pramod Goyal

Sir, I am also sailing in the same boat.I have 6 bonds and I got letter in May2009.I want to say I have not changed my address and BANK A/C. If IDBI was honest, it can send amount direct into a/c.
They are cheating thousands of people and want to digest our interest.
I want to go to CONSUMER COURT, please suggest.
ONE MORE IMPORTANT THING ON DT.15/07/2009 FINANCE MINISTER SH. PRANAB MUKHERJEE informed in RAJYA SABHA (IDBI have to PAY INTEREST on DEEP DISCOUNT BONDS 1992 that have not been REDEEMED so far)IDBI has since transformed into a commercial bank and as per RBI policy, interest rate must be paid on unpaid money lying with a commercial bank.

Thank You.

JOGI RAM GUPTA
[protected]@yahoo.co.in

My Folio No.FDDB0792785
So i had not got the duplicate bond certificate after the processes of getting dupllicate bond certificate.

My folio NO. FDDB 0533604
My Certificate No. 00565165.
Date of purchase 18, MARCH 1996.

I want my money back, b'cos i facing lots of health related problems.So pls. suggest what is the way to get back my money.

Pls. reply by return mail it is most urgent.

Contact no. [protected].

sir
i have purchased IDBI DEEP DISCOUNT BOND'96
Folio No. FDDB0994711
certificate No. 01040151
please let me know the procedure of withdrawing the amount.
plesae contact me
or
send the details to my e-mail

contact No. [protected]

E-Mail [protected]@yahoo.com

Sir,
i have purchased IDBI deep discount bond series 1992. with REF:ISIL SERIES1-DDB/8302/0942922.
kindly let me know its status.
Thanking you
ashutosh misra

plz check my ''idbi bonds96 serial no:O 0758426, W 7600429
rs:5, 300, rs;5, 300

MANOJ B NAIK
ARCHANA M NAIK


MY EMAIL: [protected]@yahoo.co.in
plz repliy

r u not repliy

Dear Sir
Name-Ramesh shah/Vandana shah, folio # FDDB 1614150. 1612151 certificate #[protected], 27, 28, 29, 30, 31.
Address-15 Govind Chand Dhar lane Calcutta-700001. some of Rs 5.300 each means Rs 31, 800.00
of IDBI DEEP DISCOUNT BOND 1996.
Now i need money for my son's Marriage i m in USA since last 10 years i Request you please help me to get my money back

Ramesh shah
97 Beacon ave Jersey city NJ-07306 USA.
Tel[protected] Cell-1-[protected]
[protected]@gmail.com

Dear Sir, I have purchased IDBI retairement bond 1996. Today i come to know that it has been recalled in year 2000. How i can get my money back? If any one have contact no. or email, please let me know.
with best regards
C S Joshi
[protected]@farelabs.com