[Resolved]  IDFC Bank — Idfc infrastructure bond tranche 2 - interest / dividend not received

Inspite of repeated mails, they are just acting like a mute spectators no action from their end.

Hi Sudhir,

We are sorry for the issues you’ve had with your account.This isn't the experience we want for our customers. We will investigate and get back to you at the earliest.

Regards,
IDFC Team

I am writing this mail with lot of pain & anguish, this is in relation with the idfc infrsatructure bond bought in february 2011 my folio number is idb0151714.

I surrendered my bond certificates with buyback request to idfc in the month of february 2016, i received my buyback amount rs 20, 000/- but there are 2 dividend cheques which is still not been received from their end.

I been calling the customer support from the month of march 2016 on continous basis but there is no solution yet. By now i must have called to idfc & karvy customer care for thousand of time but all the time i hear different stories. By now i have realized that it seems the idfc do not intend to give my money back it’s a mere rs 3200, by now i must have spent more than rs 500 just for making calls to customer care and couple of courier sent to karvy’s hyderabad office.

Find the detailes of the cheque below

Warrant - 323345 | cheque - 23361| date 21|2|14
Warrant - 521085 | cheque -21104| date 22|2|16

I was told that the above mentioned cheques could not be delivered due to incorrect address, so the customer care suggested me to provide correct address with address proof. I did sent a change of address request to karvy’s hyderabad office address via courier along with adddress proof. Details were sent to below address.

Karvy computershare pvt. Ltd. Karvy selenium, plot no 31-32, tower b, financial district, nanakramguda, serlingampally, gachibowli, hyderabad 500032

Inspite of all the effort from my end the customer care kept fooling me with diffferent stories. When i followed up after sending courier i was told by the customer care that the courier has not received but according to the pod it was delivered and received by karvy few days back, i was asked to call after few days. I called up again and i was told it will take 15- 20 days more, then again when i called i was told that it will be directly deposited to my bank account given by me. What is true i need to know.

It was a foolish decision to buy idfc bond hoping that it would give some returns to me, i think this is the strategy of bank to fool customer and make money. I would like to share my experience all my social network (Facebook, linkedin, twitter, whatsapp, etc.) and ensure that no one in my network will ever buy idfc bond, because they just want to fool people and make money.

Hi Sudhir,

As discussed, please share the scanned copy of cancelled cheque for us to process the payment.

Regards,
IDFC Team

Hi Sudhir,

Apologies for the delay. The payment will be credited in your account within 10 days.

For future queries or concerns please feel free to contact us on[protected].

Regards,
IDFC Team