Imagine you apply for shares in an IPO, but the bank enters only half the number of shares, resulting in half the allotment? This happened with an Ahmedabad-based lady – Anuradha Joshi – who alleged that, due to the bank’s error, she suffered a loss of Rs 42,142 and sought compensation of Rs 40 lakh.
On February 2, 2022, Mrs Joshi had applied for 130 shares in the Adani Wilmar IPO. However, her bank (Bank of Baroda) made an entry for only 65 shares, resulting in an alleged loss of Rs 42,142. She further claimed that the lender subjected her to physical and mental harassment.
