Garima 09 September 2017

Company won't give back my fixed deposit

I had deposited more than 1 lakh rupees in Unitech Fixed Deposit scheme. The maturity date is well past it's due date, but the company won't pay us back the dues ! Their email id seems blocked. What do I do now. I wrote a letter to the regitrar, but I haven't heard anything back. Should I complain to SEBI, CLB, or any consumer forum? What is the procedure to do the same. I'm at my wit's end. Please help !!

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3 Replies

Siddharth Srivastava (Advocate) 10 September 2017

Firstly you get issued a legal notice and demand back your deposit with interest failing which files summary suit for recovery of the amount with cost. You may also proceed under new insolvency Act in order to get the company declared insolvent for which you shall be required to file a necessary application before nation company law tribunal. Sidharth 9811776422

G.L.N. Prasad (Retired employee.) 10 September 2017

Make a written complaint to RBI and file a separate RTI Application to RBI and SEBI and seek information on present status and performance of the company in returning fixed deposits, complaints received against the company and action taken so far against company.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 10 September 2017

Ycan approach CLB and Economic Offences Wing (EOW) of the Central Bureau of Investigation. Before approaching, just find out whether the company is in existence or folded up after duping people.

Please go to the web site of (link given below) of Company Law Board and find out the ways and means of filing a case before them.

https://clb.nic.in/