Small Industries Development Bank Of India — Sidbi-sidbi deep discount bond series i - si[protected]
I have purchase deep discount bond (Series i) in 1st february, 1993 for 25 years i. E. 1st february, 2018 for rs. 1, 00, 000/-. We tried to encash the bond bearing the registered folio no. Si[protected] at the end of 20 years for rs. 50, 000/-. When we enquired about the same, we were told that sidbi had exercised the call option at the end of 9th year i. E. February 1, 2002 and redeemed the bond and in this regard, sidbi has issued a notice dated june 30, 2001 in leading newspapers in english, hindi and vernacular languages. But we failed to receive such a notice. A smililar such complaint was lodged by dr. Saraswati gupta, 57, of punjab university to the ut consumer forum, chandigarh wherein she was given justice as ut consumer forum directed small industries development bank of india (Sidbi) to pay the right amount with the interest accrued. Please find the judgement in the below url which was published in times of india: http://timesofindia.indiatimes.com/city/chandigarh/SIDBI-to-pay-interest-litigat...⇄ we would expect similar justice to be awarded in our favour as well.
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