Yes. The Nigam directly credited bank account for those having bonds in dmat form. I am sharing here the latest information I could get. latest status of SPECIAL CIVIL APPLICATION/14433/2008 of Janata Sahakari Bank in Gujrat HC is still shown as "PENDING". I am ready to wait till the final outcome of all those pending matters.
Dear shri Parikh ji,
In a way, you are right. Those who have surrendered the bonds, got back Rs. 50000/-per bond, however, there are 4 major parties viz.Kalyan Janata Sahakari Bank Limited of Gandhinagar. Indian Oil Corporation, Steel Authority of India Ltd (SAIL) and ITDC employee provident fund---filed petition in Gujrat HC against the decision of the Nigam. Even SEBI asked the Nigam to explain their decision of forceful redemption. I am waiting decision of these petitions, Nigam's reply to SEBI and SEBI's final decision in this matter. There are many investors who have not redeemed the bonds. Pl. share the latest information in this regard.
This is just to revive my first post. I, like many others, am holding some deep discount bonds of Sardar Sarovar Narmada Nigam Ltd. If anybody is in the knowledge of the court case going on against the Nigam for their forcible redemption of these bonds, are reqested to share the latest information. Thanks & Regards
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