[Resolved]  IDFC — Sub: IDFC Bonds RF No.IDB0101260 / Cert. No.101260 Non-payment of interest

Address:

Hyderabad, Andhra Pradesh

Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest for one year
Dear Sir,
I have made several complaints on this website for non-payment of interest, besides personally submitting four written complaints to M/s. Karvy in their office at Barakhamba Road, New Delhi. Despite all this, I received only one year's interest cheque and one year's interest is not being sent to me. However, IDFC Team is very prompt to send a one line reply "We regret the inconvenience caused. We have shared your concern with our team and will provide an update at the earliest." I am reproducing below my four written requests which were submitted by me personally in Karvy office at Barakhamba Road, requesting them for payment of interest, with the request to send me my dues immediately:


FOURTH WRITTEN REQUEST

Date: 19.5.2016
To
The Manager
Karvy Computershare
R.No.305, 3rd Floor,
New Delhi House,
New Delhi.


Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest

Sir,
Please refer to my letter dated 24.2.2016, 30.3.2016 and 27.4.2016 on the above subject. A copy of my last request dated 27.4.16 is attached. I regret to say that despite my personal visits and above letters requesting you to send the interest amounts for two years, I have received interest cheque for one year only. This is my FOURTH REQUEST to you to send me the interest amount, failing which I shall file my case in Consumer Court.

Yours faithfully,
(Satish Chander Pahlajani)


THIRD WRITTEN REQUEST

59-A, MOUNT KAILASH,
EAST OF KAILASH,
NEW DELHI-110065
Email: [protected]@gmail.com


Date: 27.4.2016
To
The Manager
Karvy Computershare
R.No.305, 3rd Floor,
New Delhi House,
New Delhi.

Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest

Sir,
Please refer to my letter dated 24.2.2016 and 30.3.2016 (copies attached) on the above subject. I regret to say that despite my personal visits and above letters, the interest amounts payable to me in February 2014 and February 2015 are yet to be credited to my SB Account. I also made a complaint on the website for which, the following reply has been shown on the website by the IDFC Team

“As per the confirmation received from Karvy the warrant has been returned undelivered by postal authorities and it's validity has expired. Karvy has informed that they will forward the new DD to the Bank and the same will be dispatched to your communication address”.

In this connection, I wish to point out that I had conveyed my bank account details and new address through an email. Even if it has been ignored, the unpaid interest amount should have been credited to my SB Account while crediting Principal and interest amount for one year to my SB Account. Subsequently, I have made two written requests and visited several times your office.

It is absolutely clear that how I (a Senior Citizen) am being harassed.

I once again request that the interest amounts for 2 years may be credited to my SB account as per details already available with you along with overdue interest immediately. If it is to be paid by DD, please ensure that the DD is sent to my NEW ADDRESS (which has also been communicated in my above two written complaints) as follows:

59-A, MOUNT KAILASH,
EAST OF KAILASH,
NEW DELHI-110065
Email: [protected]@gmail.com Mob: [protected]

Yours faithfully,
(Satish Chander Pahlajani)


SECOND WRITTEN REQUEST

Satish Chander Pahlajani
59-A, Mount Kailash,
East of Kailash,
New Delhi-110065
Email: [protected]@gmail.com

Date: 30.3.2016
To
The Manager
Karvy Computershare
R.No.305, 3rd Floor,
New Delhi House,
New Delhi.

Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest
Sir,
Please refer to my letter dated 24.2.2016 regarding on the above subject (copy enclosed for ready reference).

I regret to say that even after more than a month, the interest amounts payable to me in February 2014 and February 2015 are yet to be credited to my SB Account. I once again request that the overdue interest amounts along with interest for the delayed period may please be credited to my SB Account as per details already indicated in my above letter, without any further delay.
Thanking you,
Yours faithfully,
(Satish Chander Pahlajani)


FIRST WRITTEN REQUEST

Satish Chander Pahlajani
59-A, Mount Kailash,
East of Kailash,
Nezw Delhi-110065

Date: 24.2.2016
To
The Manager
Karvy Computershare
R.No.305, 3rd Floor,
New Delhi House,
New Delhi.

Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest
Sir,
I had submitted the above original bond certificate along with a copy of cancelled cheque and PAN Card with the request to send the Buyback Value of the same to my bank account as per details given below:

Name of the bank : Syndicate Bank
SB A/c No : [protected]
Branch MICR Code :[protected]

IFSC Code : SYNB0009084

I had applied for Bonds under cumulative payment option. After submission of bonds for buyback, I found that have been given two credits of Rs.20000/- and Rs.1600/- in my above bank account on 22.2.2016. On checking my pass book, I found that two credits of Rs.1600/- each in February 2012 and February 2013 have been made through HDFC Clearing. I am not sure whether these two amounts of Rs.1600/- were on account of interest on IDFC Bonds. Further no interest in February 2014 and in February 2015 has been paid to me. It is requested that the unpaid interest amounts plus interest for the delayed period on these amounts may please be arranged to be credited to my above account immediately. Copy of my above bank account statement for the period 1.2.2012 to 24.2.2016 is attached.
Thanking you,
Yours faithfully,
(Satish Chander Pahlajani)
IDFC_Team

Apr 29, 2016
Reply to Interest for two years not received
Hi Satish,

We are revalidating your payment details with HDFC Bank and this process takes around 20-25 working days. We appreciate your patience and apologise for the inconvenience caused.

Regards,
IDFC Team
jani2705

Apr 27, 2016
Interest for two years not received
IDFC Bonds - interest for two years
Sub: IDFC Bonds – RF No.IDB0101260 / Cert. No.101260 – Non-payment of interest

Sir,
Please refer to my letters dated 24.2.2016, 30.3.2016 and 28.4.2016 and my email sent on 26.4.2016 on the above subject. I regret to say that despite my personal visits and above letters, the interest amounts payable to me in February 2014 and February 2015 are yet to be credited to my SB Account. I also made a complaint on the website for which, the following reply has been shown on the website by the IDFC Team

“As per the confirmation received from Karvy the warrant has been returned undelivered by postal authorities and it's validity has expired. Karvy has informed that they will forward the new DD to the Bank and the same will be dispatched to your communication address”.

In this connection, I wish to point out that I had conveyed my bank account details and new address through an email. Even if it has been ignored, the unpaid interest amount should have been credited to my SB Account while crediting Principal and interest amount for one year to my SB Account. Subsequently, I have made two written requests and visited several times your office.

It is absolutely clear that how I (a Senior Citizen) am being harassed.

I once again request that the interest amounts for 2 years may be credited to my SB account as per details already available with you along with overdue interest immediately. If it is to be paid by DD, please ensure that the DD is sent to my NEW ADDRESS (which has also been communicated in my above two written complaints) as follows:

59-A, MOUNT KAILASH, EAST OF KAILASH, NEW DELHI-110065
Email: [protected]@gmail.com

Regards, Satish Chander Pahlajani