Pradeep (Doctor) 21 February 2014

Non payment of fixed depostis

I have invested money by the way of Fixed Deposits corporate companies. . The FD have matured. I have surrendered the FD to the company along with all the necessary documents Both the above companies have not redeemed my FD till date. All my calls and e mails to the company have gone unanswered. From the internet I have come to know both these companies have defaulted on the payments of many other companies. Can you suggest as to what should be my next action?Is the Broker which is a reputed company also liable?

9 Replies

VINOD VERMA (C E O) 21 February 2014

unless u tell the companies names can't tell u about the safety of youyr money. in case the company are limited, you can always seek help from some advocate to get the company wounded up for defalt wihin certain para meters

CA Archana Yadav (FCA) 21 February 2014

Dear Pradeep,

Incase you have maintained the photocopies of the FD certificate, then please approach SEBI or MCA & Consumer Forum as per your comfort.

They have been able to help resolve these grievances.

Do let me know if i can be of anyhelp.

Pradeep (Doctor) 21 February 2014

Many Thanks for kind reply,

Avon Corporation, Mumbai and Unitech Limited New Delhi,

Thanks

Pradeep (Doctor) 21 February 2014

Many thanks for kind reply.

Yes I do have the photocopies of the FDR's.

Which one would be better? Sebi & MCA OR the Consumer. Does the corporate company pay heed to the Consumer court?

Thanks.

CA Archana Yadav (FCA) 21 February 2014

Dear Pradeep,

Consumer Court has been helping most of the individual's to get their money along with applicable rate of interest.

Also SEBI has started its won grievance cell but its only for listed companies. Incase the companies mentioned by you are listed , then please go ahead , share all your communications done till date with SEBI and i am sure you will be able to get the money back.

Do let me know if i can be of anyhelp at aarchanay@gmail.com

T. Kalaiselvan, Advocate (Advocate) 21 February 2014

I think Ms. Archana Yadav has given some useful tips, contact her for further help.

Dipakkumar J Shah (Proprietor) 23 February 2014

File a petition before company law board U/s 58 A ( 9 )

VINOD VERMA (C E O) 14 April 2014

dear Pradeep,

in case of unitech Ltd., do file up peition before the company law board; and for avon cororation, you may seek remedy from consumer forum at your district level.