Family Bonds FAQS

All types of Family Bonds issued by IFCI in the year 1996 have been redeemed by December 06, 2003, as detailed hereunder:

Education, Retirement and Growing Income Bonds: According to the terms & conditions, IFCI exercised the call option, for early redemption of Education and Retirement Bonds on the September 6, 2000 and issued notice to the bondholders through advertisement in the newspapers, all over India, on 3rd & 4th June, 2000 to submit bond certificates for redemption. The Growing Income Bonds became due for redemption on September 6, 2003 on maturity. As per the terms, interest on these bonds ceased to accrue from September6, 2000 or September 6, 2003, as the case may be and the redemption amounts have been paid to the investors claiming the same. In respect of bonds held in dmat form, redemption amount have been paid without any action by the investor. On completion of seven years from the aforesaid respective dates of redemption, the unpaid & unclaimed amounts of Education, Retirement and Growing Income Bonds have been transferred to the Investor Education & Protection Fund (IE&PF) with the Government of India, as required u/s 205C of the Companies Act, 1956.

Millionnaire Bonds (Options I & II) and Gift Bonds (Old & New) : As per the terms & conditions of the bonds, IFCI exercised call option for early redemption of these bonds on December 6, 2003. As per terms of issue, interest ceased to accrue after that and the redemption amounts were paid to the investors claiming the same. In respect of bonds held in dmat form, redemption amount have been paid without any action by the investor. A final lot of redemption warrants of these bonds were sent to the bondholders, as per the address available in our records on December 01, 2010 after a notice in the newspapers allover India and the bond certificate(s) were treated as cancelled.

Loyalty Bonds: IFCI Loyalty bonds were issued by IFCI at free of cost to the IFCI Family bond allottees, who were holding Equity Shares/Private Placement Bonds/SLR Bonds of IFCI prior to 06.09.1996. Redemption warrants of Loyalty Bonds have been issued to all the holders. 

You have to intimate IFCI Ltd./ M/s MCS Ltd. (Registrar &Transfer Agent of IFCI) of such loss referring your Folio No., alongwith the Indemnity Bond* on non-judicial stamp paper of an amount as applicable to your State, duly notarized. In the case of Loyalty Bond(s)**, an affidavit on non-judicial stamp paper of 20/- shall be submitted instead of the Indemnity Bond. After due verification, a fresh redemption warrant will be issued.

You have to return the redemption warrant, in original, alongwith a request for change in bank account details to IFCI/MCS Ltd. (R&TA of IFCI) with your latest bank details, to enable us to issue a fresh redemption warrant.

In such cases, the Nomiee would be eligible to receive the redemption proceeds. However, if Nominee has not been appointed then the executors or administrators of the deceased sole holder of the Bond (whether Hindu, Mohammedan, Parsi or otherwise) or the holder of the succession certificate issued under Part X of the Indian Succession Act, 1925 (39 of 1925) in respect of the Bond shall be the only person(s) who may be recognised by IFCI as having title to the Bond.