Comment posted on www.core.nic.in is reincarnating by SUROJIT NANDY.
Securities and Exchange Board of India.
it is my urgent letter seeking your valuable guidence,advice,suggestion and co-operation. I’m noting down my complaint in brief -
1) I purchased 2 bonds of ‘Sardar Sarovar Narmada Nigam Ltd’ in the year 1994 having issue price of Rs,3600/- each.
2) It was scheduled to be matured in the year 2014 with a maturity value (or face value as noted in the bond certificate) of 1,11,000/- each.
3) The bond had absolutely no option of redemtion at any point of time before maturity date i.e 11.1.2014 in any case from theirs side.
4) In the mean time, I came to know that they terminated the Bonds in the year 2008 paying the maturity value of Rs,50,000/- each instead of as commited Rs,1,11,000/- each on the basis of some ‘Act’ – conferred on them by the Government Of Gujrat.
5) I was not aware of it at all as how & when & at what basis it was done and what the ‘Act” was actually that had led them to commit such a breach of cotract to such an extent.
6) I have neither encashed the Bonds nor taken any step towards the recovery of the scheduled amount till date nor filed any case in any court.
7)My registration folio no is SN 321902, certificate nos.296396 & 296397 and distinctive nos. 296396 to 296397.
8) I’m hoping against hope and keeping my fingers crossed that I will definitely be provided with a correct guideline. what should I do in this circumstance toward solving out this problem? Huge shortfall of the money is really diverting me from the way I actually planned for.
9) I hope,my problem would be treated as if like I’m one of your family members.
10) I’m sending letters following this shortly.