Kisan vikas patra
shanthi
(Querist) 16 August 2012
This query is : Resolved
I had purchased Kisan Vikas Patra in the year 1995 and after few years certificate had been seized by IT Deparment and kvp certificates was held in their custody till 2011. Now when i asked Post Office Department for encashment of certificates they are only providing for 5 and half years and after that they wont be giving as it was not renewed.
Here i had a query that since it was seized by it department certificate was blocked and it could not be renewed. So will my interest also be blocked for that period. Wont i get interest for the period it was held by IT Department.
Kindly advice me in this case.
Guest
(Expert) 16 August 2012
As per rules of KVP, the Postal Department is liable to pay interest only up to the maturity date. However, only an order from a competent court can direct either to the IT department or the Postal authorities to compensate you for the loss due to siezure of the instruments by the IT department beyond the maturity date.
