[Resolved]  Karvy Computershare Pvt Ltd — Non-receipt of Redemption warrant of IDFC Bonds-Tranche 2 of Karvy Computershare Pvt.Ltd.

Address:	Ranchi, Jharkhand, 834001
Website:	www.consumercomplaints.in/karvy

I had purchased 4(four)nos. of infrastructure bonds as above for Rs 20, 000/ in Feb, [protected]@Rs5, 000/- per Bond from Sambalpur, Orissa, the buyback date being 22-02-16 vide RL No. 391179-B, Ref.No. 763332, Application No.25089016.My DP ID is IN 300214.
The buyback amount per Bond being Rs.7, 350/-, the redemption value of the bonds
works out to Rs.29, 400/as on 22.02.16.As per Karvy's norms and guidelines, since bonds were held in Demat form, these bonds should have been automatically redeemed and money credited in investor's account.Since a cancelled cheque No. 355296 of SBI was in place, it is not understood why this practise was not followed.Please note that I had vacated the quarter in March'13 on retirement.Hence the cheque was undelivered and returned back.
Between March 17-April 2, 2016 updations of my new address, contact number and Bank modifications were done by my D.P. Again a cancelled cheque(cheque No.629696 of SBI)was sent through my DP on 31.03.16 as suggested.
Then I have also complied through mail on 23.08.16 by sending CML details, PAN Card copy, IDFC Bond copy, etc, as desired by Karvy, yet the last mail received from Karvy on 19.09.16 states it would take another 20-25 days for validation.There seems to be no end in sight to the problem.
The case is pending since seven months.I am losing [protected]@8% p.a.I am a Senior Citizen and do feel harassed.
I too have some important outstation work, personal and domestic both. Hence the redemption amount may please be sent through NEFT and credited to my Savings Bank A/C as per detailsin my mail sent on 23.08.16, duly supported by cancelled cheques sent twice earlier.
Expect an early reply in confirmation from you soon in this regard.
With regards
Panka Mazumdar
Dated:22/09/16
E.Mail Id:[protected]@gmail.com