Shriram Chits — Urgent: request for release of bond maturity amount with penalty due to inordinate delay [zzc-5828473]

Address: PENDURTHI, VISAKHAPATNAM, ANDHRA PRADESH - 530051

Dear Sir/Madam,
I am writing to formally raise a grievance regarding the prolonged and unjustified delay in releasing the maturity proceeds of a bond originally held by my wife's grandfather under the following details:
Bond Certificate Number: ZZC-5828473
Name of Original Holder: KOPPARTHI LIKHITA
Date of Investment : 10-NOV-2000
Date of Maturity: 10-MAY-2012
Branch: VIZAG N. A. D - 3056713
Background
Following the unfortunate demise of the original bondholder in 2001, the bond was transferred to the nominee my father-in-law (K. P. K PRASAD) as per Shriram Chits' policies. It was subsequently confirmed that the amount would be reinvested and paid to the original nominee's daughter (my wife) upon her attaining majority.
All necessary documents (proof of nominee, KYC documents, death certificate, reinvestment documents, etc.) have been submitted. Despite this, even after repeated follow-ups, calls, and visits, the maturity amount of ₹50, 000 has not been disbursed to date.
Now that she is a major, we have provided all the requested documents, including:
Proof of nominee (KYC, Aadhaar) attached.
Death certificate of original bondholder
Prior correspondence and submissions
Issue
Despite repeated follow-ups and fulfilling all documentation requirements, the matured amount of ₹50, 000 has yet to be released. There has been a lack of clear communication and unsatisfactory response from your representatives. The substantial delay has caused inconvenience and distress to our family.

Grievance and Non-Compliance:
This undue delay of over a decade beyond the maturity year reflects gross negligence, lack of accountability, and failure of internal processes. Such unreasonable withholding of funds without valid grounds is unacceptable and has caused significant emotional distress and financial inconvenience.
Request:
We hereby demand the following:
Immediate disbursal of the maturity amount along with all applicable interest accrued over the delayed period.
A penalty for negligence and inordinate delay, calculated reasonably in line with market norms or as per consumer protection laws.
A written response acknowledging the delay and confirming the disbursal timeline without further delay.
Kindly treat this complaint with urgency and resolve the matter within 15 working days from the date of this email. If no resolution is received within the stipulated time, we will be compelled to initiate legal proceedings and file a formal complaint with the Consumer Forum, RBI Ombudsman, and Registrar of Companies (ROC).

Thank you for your immediate attention to this long-pending issue.
Best regards,
MEDISETTI VARAHA RAVI KUMAR
SPOUSE: KOPPARTHI LIKHITA
+91-[protected]
Full Postal Address :
H. NO: 10-131/12,
FLATNO: 102,
SRI LAKSHMI NARASIMHA RESIDENCY,
PF COLONY,
NEAR ASHRAM PUBLIC SCHOOL,
CHINAMUSHIDIWADA,
PENDURTHI,
VISAKHAPATNAM,
ANDHRA PRADESH - 530051