Ministry Of Finance Govt. Of India — redemption of infrastructure bonds | |||
I purchased 4 (Four) ifci long term infrastructure bonds - series iv (Folio no. Inb0044182 amounting to rs.20000.00 (Rupees twenty thousand only) in february, 2012. I want to redeem these bonds on 15th february, 2019. I made contact with Kadavergu rajesh Corporate registry Karvy computershare pvt. Ltd. Karvy selenium tower b, plot 31-32, gachibowli, Financial district, nanakramguda, hyderabad? 500 032 As per their advice i sent the folio no and a cancelled cheque. I have not heard anything since then. Please do the needful Asit baran chakraborty Was this information helpful? | |||
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Some people is not happy with the working of employes of the post office
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Adit1234's reply, Jan 1, 2019
please take action
These guys at IFCI are fraud. Their standard response shall be as follows:
This has reference to your letter along with bond certificate with regard to the buyback of your investment made against the IFCI Long Term Infra Bonds Series IV.
In this regard, we wish to inform you that an intimation was sent to you on 31.08.2018 to surrender the original bond certificate(s) for buyback payment due on 15.02.2019, but we did not receive the same within timeline for our further action, since the last date for submission was 14.11.2018. We request you to refer Clause vide No. 6 on the reverse of the bond certificate specifying submission period. Moreover, in line with the said clause, submission of the bond certificate is required for record/reconciliation/mutual protection and to avoid any misuse considering the 10 year maturity of the bond and buyback happening at the mid of maturity period.
Since we did not receive the original bond certificate within the specified period, we were unable to consider for buyback and referred for next buyback / maturity payment.
Also note that, the bonds are already listed with Stock Exchange, where you can trade the bonds anytime till maturity date. Or if you retain the bonds till next buyback / maturity.
This has reference to your letter along with bond certificate with regard to the buyback of your investment made against the IFCI Long Term Infra Bonds Series IV.
In this regard, we wish to inform you that an intimation was sent to you on 31.08.2018 to surrender the original bond certificate(s) for buyback payment due on 15.02.2019, but we did not receive the same within timeline for our further action, since the last date for submission was 14.11.2018. We request you to refer Clause vide No. 6 on the reverse of the bond certificate specifying submission period. Moreover, in line with the said clause, submission of the bond certificate is required for record/reconciliation/mutual protection and to avoid any misuse considering the 10 year maturity of the bond and buyback happening at the mid of maturity period.
Since we did not receive the original bond certificate within the specified period, we were unable to consider for buyback and referred for next buyback / maturity payment.
Also note that, the bonds are already listed with Stock Exchange, where you can trade the bonds anytime till maturity date. Or if you retain the bonds till next buyback / maturity.