The below reply I have received from ebay.in customer care.
Hello Jayaworld200222,
Thank you for contacting us.
Regards to your Email, We would like to inform you that the link to redeem a New Year Promotion Gift is live on the home page from 31st Jan2013 to 11th Feb2013.By clicking on link you can proceed with the redemption procedure.
I hope that I have been able to answer your query up to your satisfaction. If you need any more assistance, please feel free to contact us again by simply replying to this email.
We appreciate for the patience and co-operation in this concern.
If you have any query in the future, visit www.ebay.in/customersupport and enter keyword(s) in the search box to find instant answers, or reach us by phone, chat or email.
Before calling us, don’t forget to generate a unique PIN by clicking Contact Us and select a suitable topic for which you wish to speak to us. This will enable us to save your precious time and quickly connect you to a suitable executive to assist you.
Regards,
Swapneil
eBay India Customer Service Team