
Resigning after a Promotion!
Context : i have been underpaid for almost 1.5 years as claimed by my Manager, he tried his best to adjust my salary by giving hike of 25%-30% every 6 months, but after 2 hikes ( 1 year ) he says we cant give more salary due to policies / HR restricting them ( which even at this point is far less and he agrees ). But they did give me a promotion this month ( October cycle ).
I am not happy with what i am being paid. even after promotion ( from B1 -> B2 ) at most you'll get a hike of 5-6% which is nothing... while B2 Salary range is 14-19LPA
has anyone been through the same situation ?

No one is stopping you from getting a better job. Let the market evaluate your skills. Resign if you get a better offer, tell your manager and HR that you were underpaid and so you're leaving. That's how the world works.
Many time these managers know you won't leave , so they won't give you more increments, but irrespective of that, find a better offer.
What is your current salary after promotion?