Coal India- Lodging an FIR or legal notice for non-refund

#1
I had applied for 200 shares of COal India IPO at a Cut off Price of 245, I had not received any shares or refund. In fact, when I went online to check the application status, it was showing a different applicant name instead of me & it was still showing the status as
Shares Allotted: NIL
Amount Adjusted: NIL

So I went to Link In Time at Bhandup, Mumbai with my receipt & Bank statement & told them about the problem. They told me that the refund is in process to that person & they gave me all the details of the person whose name was appearing as the applicant i.e his DMAT, bank account no & address. I was also told that they would block the refund to him & in case if the refund had reached him I could approach him to get the money back.

Then I went to Sharekhan (from where I had applied) & informed them about this. I checked the entry & instead of my DMAT, the other person's name was there. Its strange as his DMAT & mine were completely different, & his number couldn't have come because of me writing a writing 1 or 2 wrong numbers. But I M willing to overlook the possibility of a fraud, I just need my money back.

I spoke with that person & he told me that if he gets any refund he will inform me & he will transfer in my account.

I checked with him & also the application status online, he says he hasn't received any refund yet & the application status still shows Amount Adjusted: Nill.

Now, its been more than 50 days & still no refund. I know I am not the only person who still hasn't been refunded but I can't wait any longer as I really need that money.
i am sending a legal notice & here is my question-

Since my payment was in favour of Escrow Coal India A/C , should I just send Coal India a legal notice or should I also send to Link In time? I know that Link Intime is a registrar but does it also have responsibility in this case?

Also, should I sue sharekhan in this for writing the other person's DMAT account number instead of mine?

Anything else that I can do to get the money faster?

Thankyou.
 
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#2
I had applied for 200 shares of COal India IPO at a Cut off Price of 245, I had not received any shares or refund. In fact, when I went online to check the application status, it was showing a different applicant name instead of me & it was still showing the status as
Shares Allotted: NIL
Amount Adjusted: NIL

So I went to Link In Time at Bhandup, Mumbai with my receipt & Bank statement & told them about the problem. They told me that the refund is in process to that person & they gave me all the details of the person whose name was appearing as the applicant i.e his DMAT, bank account no & address. I was also told that they would block the refund to him & in case if the refund had reached him I could approach him to get the money back.

Then I went to Sharekhan (from where I had applied) & informed them about this. I checked the entry & instead of my DMAT, the other person's name was there. Its strange as his DMAT & mine were completely different, & his number couldn't have come because of me writing a writing 1 or 2 wrong numbers. But I M willing to overlook the possibility of a fraud, I just need my money back.

I spoke with that person & he told me that if he gets any refund he will inform me & he will transfer in my account.

I checked with him & also the application status online, he says he hasn't received any refund yet & the application status still shows Amount Adjusted: Nill.

Now, its been more than 50 days & still no refund. I know I am not the only person who still hasn't been refunded but I can't wait any longer as I really need that money.
i am sending a legal notice & here is my question-

Who exactly is Escrow? Is Escrow & Link INtime different? Whom should I be sueing or sending a legal notice to?
i tried looking up[ for

Since my payment was in favour of Escrow Coal India A/C , should I just send Coal India a legal notice or should I also send to Link In time? I know that Link Intime is a registrar but does it also have responsibility in this case?

Also, should I sue sharekhan in this for writing the other person's DMAT account number instead of mine?

Anything else that I can do to get the money faster?

Thankyou.


Please write to the registrar of Coal India Issue with cc to BSE/NSE/SEBI, email ids of BSE/NSE/SEBI can be provided. If it is due to your writing mistake then follow up is the only option but if the registrar has made a mistke inspite of you mentioning everything correct, then you can follow up for intersest also.
 
#3
The mistake for wrong name is on the part of Sharekhan(who was the broker then) as I can see the wrong DMAT in the data entry.
But even if I ignore the mistake which was made at the time of data entry, refund has not been allotted to the name appearing in the application status.
I guess I will mail the registrar then, the only thng is I don't think I will get a reply soon, its very hrd to reach Linkin Time, their phone lines are always busy, & like me there are so mnay hwo haven't got their refunds back.. a quick google sarch will show you the height of irresponsibility shown by Coal Inida/Link inTIme.
 
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#4
The mistake for wrong name is on the part of Sharekhan(who was the broker then) as I can see the wrong DMAT in the data entry.
But even if I ignore the mistake which was made at the time of data entry, refund has not been allotted to the name appearing in the application status.
I guess I will mail the registrar then, the only thng is I don't think I will get a reply soon, its very hrd to reach Linkin Time, their phone lines are always busy, & like me there are so mnay hwo haven't got their refunds back.. a quick google sarch will show you the height of irresponsibility shown by Coal Inida/Link inTIme.

Ensure that your correspondence with Registrar to the issue is in writing and not by phone, as a proof of record, and also cc to SEBI/BSE/NSE, even after repeated follow ups nothing happens, (but surely they will reply), shoot an email to Registrar and to Coal India with cc to newspapers email ids, then see how they reply
 

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