1. ravi
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  3. Sunday, February 11 2018, 12:42 AM
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I purchased SIDBI deep discount bond (series 1) bond in the form of promissory note in the year 1993 with following details:-
Issue Price: Rs. 2500
Face Value: Rs. 1,00,000
And it has been clearly stated that " or order on demand at the office of SIDBI at Bombay on Feb. 1,2018, the sum of Rs. 1,00,000 being the face value of the bond herein contained, for value received."
However, as per their site, it is stated that such bonds have ceased to exist from 2002 and would not incur any interest further.
However, it being a promissory note and pay on order and that too dated 1993, so I intend to ask:-
1. Can such bonds be altered?
2. Will I not receive the face value i.e. Rs. 1,00,000 dated as per the bond back in the year 1993?
3. What is the amount that I will get if I encash it now?
4. If I can take any legal action?

Thanks & Regards
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  1. https://www.sidbi.in/DeDiscount_Bond_Redemption.php
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