Non Payment of Deep Discount Bonds of ICICI Ltd purchased in 1997

Mob No – 08264291205 Jitendra Kumar Mishra
E Mail – [email protected] House No. – 19, Umesh Nagar Society,
Opp. Dahyakaka Nagar Society,
Meghani Nagar, Ahmedabad -380 016

Subject : Non Payment of Deep Discount Bonds of ICICI Ltd purchased in 1997

Sir,

1. I am Ex Army personnel. During my Army service I had purchased two Deep Discount Bonds of ICICI Ltd for Rs 14,500/- on 28 May 1997. The details of Bonds are as under :-

Ser No Inward Ref Folio No Issue Price (Rs) Date of
Issue Maturity
Price (Rs) Date of Maturity Holder Name
1. I013101348 2156998 2,750/- 28 May 1997 1,00,000/- 27 May 2022 Mamta Mishra
2. I013101348 2156999 11,750/- 28 May 1997 1,00,000/- 27 May 2012 Hav Jitendra Kumar Mishra

2. Due to frequent transfers, within 2 to 3 years, from peace to field areas & Insurgency areas in my Army Service, I could not timely intimate my change of address to the issuing authority of Bonds.

3. Before Maturity of Bonds ie on 08 August 2011, I have submitted my request for change of address to the Broker :- 3i Infotech Limited, Tower # 5, 3rd Floor, International Infotech Park, Vashi Railway Station Complex, Vashi, Navi Mumbai-400703 for taking the final payments. They have intimated vide their letter No 0018098237 dated 25 Aug 2011 that ICICI Ltd. had decided to exercise the early redemption option for your Bonds on 27 May 2003 and intimated to the Bondholders accordingly. Now the amount of both said Bonds have been deposited in the Investors Education & Protection Fund (IEPF) because of remain unpaid for a period of 7 years and no payment shall be made in respect of any such claims.

4. Sir, while I had not received any intimation or correspondence with regard to the early redemption by the company. I had also mentioned the name of my daughter – Ms KIRTI MISHRA as nominee of the above Bonds alongwith my permanent address in the application form during the purchase of Bonds (Scanned copy enclosed) but till date I have not received any intimation of early redemption of Bonds on the nominee’s address.

2

5. Sir, My Final request is that “at the time of early redemption or upto the payment to IEPF, if I was not traceable anywhere due to various postings in insurgency areas or so during my Army Service, the amount of my both Bonds to
be paid to my nominee as per name and address mentioned in the application forms.”
OR

Amount can be sent to my Bankers ie PNB, Farrukhabad (UP) as per address mentioned in my application.

6. You are requested to kindly help out in this stage to claim my above amount with interest please.

Yours faithjfully

(Jitendra Kumar Mishra)

———————————————————————————————————————-

My Final Request

Sir/Madam,

1. My FINAL request is that “at the time of early redemption of Bonds or upto the payment to IEPF, if I was not traceable anywhere due to various postings in insurgency areas or so during my Army Service, the amount of my both Bonds should be paid to my nominee as per name and address mentioned in the application forms.”

2. I had mentioned the name of my daughter as nominee in the ICICI Bonds Application Forms, considering that “in future if I will suffer any type of casualty during the Army Service, my daughter will not suffer from financial problem in my absence.”

3. In the year 1997, if I had purchased the “Gold” (the cost was Approx Rs 3000/- per 10 Gms) intead of investing in such Bonds, today I will get the above Rs 1,50,000/- Approx, for marriage of the daughters.

4. Considering the above reasons, you are humbly requested to approach the concerned authority or help me to take the payment of both the Bonds with interest please.

With Regards

JK Mishra

Final reply received from 3i Infotech Ltd

Reply Received on 23 Jan 2013 at 4.41 AM

Dear Sir/Madam,

Bondholder Number – 2156998 and 2156999

Name of the Investor – MAMTA MISHRA and HAV JIENDRA KUMAR MISHRA
Name of the Joint Holder – JITENDRA KUMAR MISHRA and MAMTA MISHRA

ADDRESS :
PA TO DY GOC,
HQ 11 INFANTRY DIVISION,
PIN 908411,
C/O 56 APO

We refer to your e-mail dated 21-01-2013 and wish to inform you that as per record there are joint holders for the aforesaid Bond Nos .

Kindly note , we had taken necessary steps to sent the intimation / reminders to the registered address for exercising the early redemption option.

In this regard, we wish to inform you once again that as per the terms of the Prospectus through which Deep Discount Bonds option I were issued, an early redemption option was available to both, the investor as well as ICICI Bank as per the dates mentioned in the prospectus and bond certificate(s). As per these terms, ICICI Bank decided to exercise early redemption option, and these bonds were redeemed on May 27, 2003 accordingly. The Notice were published in the Financial Express” dated March 26, 2003 (copy enclosed for your ready reference).
Please note, the Bank had despatched redemption circulars dated March 17, 2003 to all the bondholders at the addresses registered with us requesting them to surrender their bond certificates indicating their change of address, bank account details etc. Reminder letters dated June 23, 2003, April 8, 2004, May 11, 2006 and March 26, 2008 were sent through ordinary post thereafter to the bondholders who have not surrendered the bond certificate/s for redemption. The final reminder dated January 14, 2010 was sent through registered post.
Further, please note that pursuant to section 205C of Companies Act 1956 and in the clarification issued by the Department of Company Affairs, vide their letter dated September 23, 2002, redemption amounts remaining unclaimed by the bondholders for a period of seven years from the redemption date are required to be transferred to the Investor Education and Protection Fund (IEPF) constituted by Government of India. No claims would lie against the fund or the company (ICICI Bank Limited) in respect of amounts which are transferred to IEPF.
Please also note that the explanation to section 205C of the Companies Act, 1956 states that no claim shall lie against the Fund or the Company in respect of individual amounts which remained unpaid for a period of 7 Years from the date they first become due for payment and which have already been transferred to the IEPF as stated above, and no payment shall be made in respect of any such claims.
The Bond certificate are no more valid”
In view of the above, we sincerely regret our inability to do anything in the matter.
Regarding refund of your redemption amount from the IEPF, you are requested to kindly take up the matter directly with the concerned authorities or you may kindly visit the site, http://iepf.gov.in.

Regards,
Rosaline
Investor Services – Bonds
3i Infotech Limited, International Infotech Park, Tower No. 5, 3rd floor
Railway Station Complex, Vashi, Navi Mumbai 400703
Contact No – 022 67928034/35

REPLY RECEIVED FROM ICICI BANK CUSTOMER CARE ON
27 JUN 2014

ICICI Bank Customer Care
Fri, Jun 27, 2014 at 6:31 AM
To: Jitendra Mishra

Dear Mr. Misha,

This is with reference to your e-mail regard to Deep Discount bounds.

Please note that we would be pro actively unable transfer the bonds in the name of nominee, hence we had sent reminders to your correspondence address to claim the redemption amount.

As we did not received any reply, hence bonds were transferred to Investors Education & Protection Fund (IEPF).

We regret to inform that we would be unable to refund the amount.

For further assistance you may write to below address.

SHRI B. P BIMAL
UNDER SECRETARY
MINISTRY OF CORPORATE AFFAIRS
ROOM NO.529 A WING 5TH FLOOR
SHASTRI BHAWAN
DR. RAJENDRA PRASAD ROAD
NEW DELHI- 110001

We request you to accept the above explanation with understanding and satisfaction.

“Please note – Our Customer Care numbers have changed. For details, please visit the “24hr Customer Care” link at our website.

Sincerely,

Narender.N
Customer Service Manager
ICICI Bank Limited