Home > Money > Question
Need Expert Advice?Our Gurus Can Help

What should I do if I haven't received payout for one of my mother's SREI NCDs and want to transfer the remaining NCDs to my father's name after her passing?

Milind

Milind Vadjikar  | Answer  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Dec 16, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more
Asked by Anonymous - Dec 16, 2024Hindi
Listen
Money

My mother had 5 NCDs of SREI Infrastructure of 2 lakh each. She is the primary account holder of the NCD and that my father is the joint account holder. As you are aware SREI went in to NCLT and the new company has issued payouts as a lump-sum payments. I have following 2 issues. 1. Out of 5 NCDs, we received payouts for only 4 NCDs and despite of sending emails, we aren't getting any specific response back. 2. My mother expired last Nov and we wanted have all the 5 NCDs transferred in to the name of my father. In this regards, I have written emails to Catalyst Trusteeship Ltd, email addresses are available on the website of SREI. I am not getting back any response from them. Please guide me what do i do?

Ans: Hello;

When a company goes into bankruptcy the chances of getting NCD investment money back is very low irrespective of the fact whether it is secured or unsecured NCD.

You should be thankful to the almighty that atleast you have received money for the 4 NCDs.

You will have to accept the settlement adjudged by NCLT/NCLAT for NCDs in case of Srei infra else your father(joint NCD holder) may approach Hon. SC for getting a return of his funds but legally it will be on a weak footing.

You may also raise complaint to SEBI and RBI in the name of your father (joint holder of NCDs) for your concerns and seek response to your queries.

Best wishes;
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Ramalingam

Ramalingam Kalirajan  |9252 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Sep 19, 2024

Asked by Anonymous - Sep 18, 2024Hindi
Listen
Money
Sir my son in 2009 invested in Mutual fund rs.5000/- and again rs.5000/- another in 2011 total rs.10,000/- with Reliance mutuval funds later this company changed in the name of Nippon India private limite. My son at the of investments he had Old PAN no. Later on job purpose gone abroad and settled. He came in 2019 and submitted redeem his units say 2250 units currenly valued rs. 50,000 above . His application was rejected at first Old PAN Card not surrendered so he surrendered same with original attached with NRE status PAN and submitted agiain who they says You have to link his Aadhar card. He is not in a position to obtain this because he may get citizenship. I referred to SEBI and RBI to intervene but no response from them Please guide me how to redeem and get my son’s investments which I require for my ailing age of 78. Thanks in advance If you require his PAN no surrendered and obtained new NRE status PAN no.
Ans: Since your son cannot link his Aadhaar due to his NRI status, the best approach would be to reach out directly to Nippon India Mutual Fund and explain the situation. You can request the redemption process based on his NRI PAN and KYC status without Aadhaar linking.

Here's what you can do:

Contact Nippon India: Explain that your son is an NRI and cannot obtain an Aadhaar card. Request guidance for an NRI-specific redemption process.

Submit an NRI KYC Update: Ensure that your son's new PAN and NRI status are updated in the KYC records with the fund house. This can be done via the KYC Registration Agency (KRA) or CAMS for mutual funds.

Alternative Contact: If there is no response from the fund house, consider contacting AMFI or SEBI again, providing all necessary documents.

These steps should help you resolve the issue and redeem the units without requiring Aadhaar linkage.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Nayagam P

Nayagam P P  |7134 Answers  |Ask -

Career Counsellor - Answered on Jun 27, 2025

Asked by Anonymous - Jun 26, 2025Hindi
Career
Sir, my son seems to have missed IITs or NITs this year although we are participating in the Josaa rounds. His CRL - 63337 in Mains & 25506 rank - Advance. He wants to pursue either ECE, CSE, DS-AI, EEE, EE etc..We will also participate in MHCET cap rounds however the rounds are delayed. His MHCET peecentile is 99.18. We will try for the best colleges in Maharashtra as we are from Mumbai General Open category. We also have a confirmed seat of CSE - VIT Chennai in hand however my son does not have more inclination to study in VIT. Sir, now my question is whether he can give Jee Mains & Advance in 2026 again without considering a drop. He will join a college this year based on CAP rounds but will forego his 1 yr in case he gets through next year. So whether this is possible Sir? If not, then he will continue his degree with the college which he takes this year.
Ans: As per the National Testing Agency (NTA) rules, candidates may appear for JEE Main up to six times over three consecutive years—two sessions each year—provided they passed Class 12 in 2024 or later and meet subject requirements. There is no upper age limit for Main attempts, and enrolling in a regular engineering program does not invalidate future Main attempts. For JEE Advanced, the Joint Admission Board permits a maximum of two attempts in two consecutive years for candidates who rank among the top 250,000 in JEE Main and first appeared in Class 12 in 2023, 2024, or 2025; admission to non-IIT institutions does not affect Advanced eligibility. MHT-CET likewise imposes no attempt limit, allowing repeated participation as long as candidates satisfy domicile and educational criteria each year. Therefore, your son can join a college this year via MHT-CET CAP rounds or accept the VIT Chennai seat and still sit for JEE Main and Advanced in 2026 without requiring a formal “drop year,” provided he retains eligibility and dedicates time to preparation alongside his regular coursework. Should he qualify in 2026, he may transfer through JoSAA; if not, he can continue his degree uninterrupted at the institution he joins this year.

recommendation: Enroll through Maharashtra CAP to secure admission this year while registering for JEE Main and Advanced 2026, balancing college commitments with a structured prep schedule and clear target milestones to maximize re-attempt success. All the BEST for the Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

...Read more

Nayagam P

Nayagam P P  |7134 Answers  |Ask -

Career Counsellor - Answered on Jun 27, 2025

Asked by Anonymous - Jun 26, 2025Hindi
Career
Dear Sir, Between IIIT Dharwad CSE and Thapar college CSE, which option would be better
Ans: Thapar Institute of Engineering and Technology (TIET) Patiala offers a well-established CSE program with a strong legacy, NAAC A+ accreditation, and a robust placement record—83% in 2023, with over 1,800 job offers and top recruiters like Microsoft, Amazon, and Deloitte. The department is noted for its industry-aligned curriculum, cutting-edge research, and global exposure. IIIT Dharwad, though newer, is an Institute of National Importance with a modern campus and updated CSE curriculum. Its placement rates have ranged from 62% to 77% in the last three years, with top recruiters including Amazon, IBM, and Infosys, and a growing reputation for industry-oriented training. However, Thapar’s CSE program has a broader alumni network, more consistent placement outcomes, and a higher national brand value. IIIT Dharwad’s infrastructure is strong and improving, but its placement rates and industry connections are still catching up to older, established institutes like Thapar.

recommendation: Prefer Thapar Patiala CSE for its proven placement record, established reputation, comprehensive campus experience, and strong industry connections, especially if you value stability, alumni support, and long-term career prospects. Consider IIIT Dharwad only if you specifically seek a newer IIT-like environment and are comfortable with a developing placement ecosystem. All the BEST for the Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x