[Resolved] Karvy — Shubhi Agro and Dairy products NCDs investment through Karvy | |||||
I had invested Rs.10 Lacs in the NCDs of Shubhi Agro Dairy products through Karvy wealth, last 3 quarters they have not paid the interest and also the NCDs were due for redemption last 3 quarters ... I am facing lot of issues with Karvy Wealth as they don't respond... they charges 3 % fees and gave assurance that they take 2.5 times of the security... but all is fake. They are hand in gloves with the borrower organization and cheat the investors of their hard earned money. All my financial plans are gone for toss... I am in high stress as I need to support my children for higher education abroad and my money is locked with no promise from Karvy Wealth. The RMs of Karvy Wealth are very dubious and hide the information or they are least bothered of the customers. Once the product is sold they go in don't care condition after they get the 3% fees on Rs.10 Lac investment (min. ticket size). Was this information helpful? | |||||
Sep 23, 2016 Complaint marked as Resolved Karvy customer support has been notified about the posted complaint. | |||||
2 Comments | |||||
Comments
The facts Are;
[1]Shubhi has NOT paid interest for the last 15 months.
[3] Karvy Wealth has been pursuing the matter with the Company but apart from conveying that they are in process of raising funds or making arrangement with SBI for loans, nothing has happened.
[4] what is the procedure is for removing such security from the concerned Demat A/C.
[5] The investors are being verbally informed by Karvy Wealth for the last 6 months or so that we would get our dues within a month.
[6] For the last month one or two, Shubhi has been appealing through Karvy Wealth to accept 50% of the face value of the NCDs & forego outstanding interest.
Kindly urgently provide investors with contact details of Shubhi to resolve the matter urgently.
Thank you.
[1]Shubhi has NOT paid interest for the last 15 months.
[3] Karvy Wealth has been pursuing the matter with the Company but apart from conveying that they are in process of raising funds or making arrangement with SBI for loans, nothing has happened.
[4] what is the procedure is for removing such security from the concerned Demat A/C.
[5] The investors are being verbally informed by Karvy Wealth for the last 6 months or so that we would get our dues within a month.
[6] For the last month one or two, Shubhi has been appealing through Karvy Wealth to accept 50% of the face value of the NCDs & forego outstanding interest.
Kindly urgently provide investors with contact details of Shubhi to resolve the matter urgently.
Thank you.
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