[Resolved]  Reliance Power — Non receipt of Refund Order cum Allotment Advice

Dear Sir,
I had applied for 225 shares in the IPO of ‘Reliance Power’ vide application No.61545528. On the date of allotment no shares had been credited to my Demat a/c. Upon inquiry on the website of Karvy I found that 16 numbers of shares were allotted to me but due to some incomplete/error data feeding that could not be credited to my a/c. Then I went to the local Karvy office to find out a way. As per their advise I provided them a copy of client profile of my demat a/c and acknowledgement slip of IPO application form.

After few days the status of my application on the Karvy’s website was changed and my demat a/c was credited with 16 shares and the status of refund order for Rs.18, 995/- was dispatched on 02-02-08. But that did not reach to me. This status was continuing for 10-15 days. Again the position changed and message was “the refund amount has been credited in a/c No.[protected]. But no such credit is there in my account. On 28.03.2008 they e-mailed me that due to wrong address the letter/post was returned by the Postal Authority and they will re-dispatch the same and advised me to rectify my address with my broker. It shows that the Karvy office had never sent any mail to the address mentioned in my demat a/c. because the address is of Bank of India, Civil Township Branch, and I am an employee of that organization. Moreover the post man also knows each man of my Bank by name.

On this matter I had already lodged a complaint with SEBI on the prescribed Performa on dt.24.03.2008 & several time e-mailed to their grievance office but till today neither I got any acknowledgement of that or any response of my e-mail. Since I had taken loan from my employer for this IPO interest is accumulating & I am very concern to liquidate the loan. I am not blaming any department but for others mistake or negligence why should I be penalized and whose door should I knock to redress my grievance?

All my attempts and requests to my broker & local Karvy’s Official including SEBI are not bringing any result. So I fervently request you kindly help me to get the refund money along with interest at the earliest.

Thanking you and awaiting your reply desperately,

Yours faithfully,


Manas Ranjan Samal,
C/o Bank of India, .
D/2, Civil Township,
Rourkela-769004.
Dist-Sundergarh,
Orissa,
DP ID :[protected]Motilal Oswal)
Client ID : 00143436
Application No.61545528