[Resolved] Tata Steel — Rights Issue

[Resolved] Tata Steel — Rights Issue - Basis of allotment

A Anuj Jain from Delhi, Delhi

I have applied for 4,000 CCPS on a renounced form, however I have only received 202 CCPS in my demat account which I was anyway entitled, thereby meaning that I have not been allotted any CCPS from the additional application for 3798 CCPS. This is contrary to the statement made by Directors in the abridged prospectus which states that allottment for additonal shares will be on 'fair and equitable basis in consultation with the designated stock exchange' (Pg 6 of the abridged letter of offer). I think SEBI needs to take serious action against the company, bankers and the R&T agent Also please let me know the forum where I can address my complaint for refund and improper allotment of CCPS. Was this information helpful? No (0) Yes (0)
Aug 13, 2020 Complaint marked as Resolved
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Shamik Chowdhury

from Kolkata, West Bengal

TATA STEEL — CCPS - No allotment, no refund, no response either!

Hi,

I had applied for 90 Tata Steel renounced CCPS on 11/12/2007 (Cheque No.: 104280; Amount: Rs. 9, 000/-). I was entitled to the same amount.

Neither has the 90 CCPS been alloted/credited to my demat account (IN[protected], nor have I received the refund for the 9, 000/- application money for the un-allotted CCPS as on March 15, 2008.

I had raised the matter with the registrar to the Issue - Intime Spectrum - on January 28, as well as with the Tata Steel corporate registrar TR Darashaw. I have provided both parties all documentary evidence required for investigating the matter on February 01, including proof of payment by cheque, copy of application acknowledgment, and copy of allocation statement from Tata Steel that 'zero' CCPS have been issued/alloted to me .

Since then, my emails to Intime Spectrum/TR Darashaw dated February 07, February 12, February 20 and March 03 have gone unanswered.

Intime Spectrum has not even had the courtesy to acknowledge any of my mails. And there is, of course, no information about the refund for 9, 000/-. Their office phones are ALWAYS 'busy'.