[Resolved] Karvy — Non receipt of redemption of idfc bonds | ref:kvr/stat/idfb/207117/7715008

pravingrai

from Mumbai, Maharashtra

Address:	Hyderabad, Andhra Pradesh
Website:	www.karvycomputershare.com

I am writing this complaint on behalf of my father who has been misguided & harassed by karvy computershare pvt ltd, hyderabad since last 8 months. being a senior citizen, he has been struggling by approaching idbi bank (demat account), idfc officials & karvy since last many months for non receipt of redemption warrant of idfc infra bond tranche 2.

My father even couriered reference documents with application letter via india post with tracking id: rg[protected]in on dated: 7th may 2016.

Therefore i have mailed & approached to each authorities - idbi bank, idfc & karvy. i would like to inform you that i have been following up for my father's above concern since date 16/08/2016 with ref: kvr/stat/idfb/207117/7715 after sending them the following required documents via india register post with courier tracking id: rg[protected]in.
1) duly signed request letter
2) cancel cheque
3) self attested pan card
4) 20rs indemnity warrant

It is very sad that i have to even followup with india post, hyderabad - top officials & escalated for getting confirmation (pod) on delivery of the parcel. but then also i was not getting any confirmation & the other side karvy was denying the receipt of the parcel. thereafter i lodge complaint against india post with cpgrams & got the confirmation of delivery. it took me around 1 month for getting confirmation pod.

Then again i replied to karvy for acknowledging the receipt & they at last accepted that they have received the documents & will process it asap on dated:27/09/2016.

Now it has been almost more than 20 days that still no prior action has been taken yet.

I would also like to add & highlight that i have also reported the above concern to sebi score since more than a month, but no action or reply has been received till date.

It is so disappointing that our indian system is so much corrupted & irresponsible & worst of all.

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Dec 11, 2016

Complaint marked as Resolved

Karvy customer support has been notified about the posted complaint.

Verified Support

Oct 21, 2016

Karvy Customer Care's response Dear Investor,

We would like to inform you that we have received the documents. The payment banker accounts are under migration, post which we shall process the redemption.

Regards,
Team Karvy

Nov 08, 2016

Updated by pravingrai How much time you will take to process the redemption. It has been so many days..

This is pathetic...

Verified Support

Nov 10, 2016

Karvy Customer Care's response Dear Sir,

We apologize for the inconvenience. As communicated earlier, the migration process is still underway and is in its final stage. It is expected to finish within the next 10-15 working days. We appreciate your understanding.

Regards,
Team Karvy