[Resolved] UTI Master Share Plus unit Scheme 1991 — Non receipt of Redemption amount nor dividends
From : Mr. Yatendra Bhargava, Company Secretary, Omnibus Industrial Development Corporation of Daman & Diu & Dadra and Nagar Haveli Limited, Plot no. 35, OIDC Corporate behind Gurukripa Canteen , Somnath, Nani Daman – 396 210. Dated :- November 9, 2009
Unit Trust of India,
Head office: UTI Tower,
G N Block, Bandra Kurla Complex,
Sub:- Non receipt of Dividend and Repurchase proceeds of Master Share Plus Unit Scheme – 1991 (Master Plus).
Ref : Regd Folio No. K 354655 certificate no. 01415000 dist. No.[protected] to[protected] units
With reference to above, we would like to bring to your kind notice a small problem which we are facing with your Master Share Plus Unit Scheme – 1991 (Master Plus) . The brief detail of which is as follows:-
1. Units purchased through broker and sent for transfer in the year 1994 and were transferred in our names vide transfer no. 2086110 dated 14.09.1994 from Shri Amar Nath Parashar and Ajay Parashar to our names Yatendra Bhargava, Krishna Saran Bhargava and Akhilesh Bhargava under above Registered. Folio.
2. After holding these units for 5 years I had given them for repurchase to your Unit trust of India, Jaipur office on 27.09.1999.
3. written letters dated 08.08.1999, 24.12.1999, 06.03.2000 and others to your registrar regarding non receipt of repurchase proceeds and income distribution from 1999 onwards.
4. No satisfactory reply came from your registrar till date nor received repurchase proceeds and income distributed on these units till date.
5. The registrar has written that the captioned certificates are subject matter of court case filed in the court of honourable Chief Judicial Magistrate place-------(not mentioned) under suit no. -------(not mentioned) ----/93 by Omprakash Mundhra while seller is Shri Amar Nath Parashar and Ajay Parashar and not Omprakash Mundhra .
6. My answer to this letter was that if suit was filed in 1993 than why it was transferred in our names in 1994 and till 1999 were your registrar could not rectify this mistake.
Now after so many years the matter has created a problem as I am unable to trace the broker as his shop is closed and we are unable to receive the money which we have invested in a reputed organization like yours. WE TRUST THAT YOU WILL INTERFEAR IN THIS MATTER AND WILL RESOLVE THIS ISSUE AND HELP US IN GETTING OUR INCOME DISTRIBUTION FROM 1999 ONWARDS AND REPURCHASE PROCEEDS.
The relevant papers are enclosed herewith for your kind consideration and perusal
I hope you will kindly look into the matter and will resolve this issue as almost 5 years have passed since I surrendered these units to your Jaipur Office.
Your early action will be highly appreciable
Awaiting your favourable reply.
Encls : As Above (Yatendra Bhargava)
Complaint marked as Resolved Aug 14, 2020