Buyback amount of deceased is unsatisfactory


 

R/Sir,

 

       My father passed away on January 2012, he had invested in IDFC BOND in Year 2010 and opted for buyback in Year 2015, however untimely his demises, and the fact that we were unaware about his investment that caused us to remain in dark, however having gone through each and every article we finally in year 2021 got to know that he had invested in aforesaid bond, and thereafter we started inquiring about its redemption process, as being a claimant process was smooth and simple and it was assured from company (karvy) side that claimed amount would be calculated and settled till the year 2021 , however they hastily settled claim amount till the year 2015 resultantly we suffered financial loss and they remain reluctant to explain why till 2015 (except buy back option was opted for this year) now in their email they have confirmed that they have sent buyback amount cheque on deceased address but it returned back to them, and they never tried to send intimation letter after that. Therefore, kindly guide me on following points.

 

  1. Should they be liable for paying interest till the year 2021 ? as negligence and deficiencies in services caused us financial loss .
  2. I’ve filed complaint in pgportal(grievances) & forwarded it to SEBI & NSE for following compensation.

2A) 9% interest on settled amount from year 2015 to 2021.

2B) 1 lakhs Rupee Compensation for causing mental agony, physical pain, negligence, deficiency in services.

 

Thanks & Regard



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