Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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I want to get deposit money back from a chit fund company

(Querist) 13 February 2015 This query is : Resolved 
HELLO RESPECTED SIR,

I AM HERE TO DISCUSS ON A SERIOUS ISSUE... I NEED SOME HELP FROM YOU ALL.. MY FATHER HAVE INVESTED 100000/- IN A DEPOSIT SCHEME OF ROSE VALLEY ( A BUSINESS ORGANISATION AND CHIT FUND COMPANY LIKE SAHARA) 4.5 YRS BACK.. AS PER THE SCHEME HE WAS SUPPOSED TO GET 140000/- AFTER 3.2 YRS.

NOW ITS 4.5 YRS , TILL NOW NOT GOT MONEY BACK.. THEY ARE SAYING THAT MONEY IS ON HOLD AND WITHIN FEW MONTHS THEY WILL RETURN BACK THE MONEY AFTER FEW MONTHS.. NOW WE NEED THE MONEY.. ITS URGENT.. I AM READY TO GO FOR ANY STEPS LEGALLY TO GET BACK THE MONEY..

PLEASE HELP ME.. I WANT TO KNOW ALL THE LEAGAL STEPS THAT I SHOULD FOLLOW TO GET BACK THE AMOUNT.. PLEASE TELL ME THE PROCEDURE.. I WANT TO INFORM SEBI, POLICE, AND ANYOTHER DEPTARMENT WHERE I SHOULD GO FOR HELP..



TELL ME ANY MAIL ID OR PROCEDURE TO CONTACT THEM OR ANYONE ELSE..I WILL BE AT A VERY BIG PROBLEM IF I DONT GET MONEY BACK..

THANKS IN ADVANCE

SUVO
Kishor Mehta (Expert) 14 February 2015
Sir,
The advisable procedure for you would be to immediately approach Consumer Grievances Redressal Forum (Consumer Court) which has the jurisdiction in your matter. This is the swiftest and most affordable way.
Good Luck,
Kishor Mehta
Kishor Mehta (Expert) 14 February 2015
Sir,
The advisable procedure for you would be to immediately approach Consumer Grievances Redressal Forum (Consumer Court) which has the jurisdiction in your matter. This is the swiftest and most affordable way.
Good Luck,
Kishor Mehta
RAVI B SHAH (Expert) 14 February 2015
You are requested to issue legal notice first to Ross Velly company and its agent for the claim and also request to file criminal complain against them for cheating. As per my knowledge they have no licences to take deposit from anyone.Yhey are doing this business illegaly. You can also file complaint to RBI for this mischievous scheme given by company.
Thanks.
Ravi B Shah
Advocate
Ahmedabad.
prabhakar singh (Expert) 14 February 2015
You are in soup if news below about them can be believed by you.


http://www.business-standard.com/article/economy-policy/ed-to-investigate-funding-of-lawyers-by-rose-valley-115012701414_1.html

PROCEED AS SUGGESTED BUT THINGS DOES NOT LOOK SO EASY.
prabhakar singh (Expert) 14 February 2015
ED to investigate funding of lawyers by Rose Valley
Alleging that the Rose Valley Group was resorting to "court shopping" to delay the investigations, he said that they were moving courts after losing cases endlessly
Press Trust Of India | Kolkata January 27, 2015 Last Updated at 20:14 IST



The Enforcement Directorate, probing the Rose Valley ponzi scam, will probe the funding route of lawyers who were appearing on behalf of the company in the courts.

"We are going to start probing how the lawyers appearing on behalf of Rose Valley Group are being paid since most of the accounts have been sealed," a source in the directorate told PTI.

He said that the directorate would probe whether the lawyers were being paid through the "normal methods or through clandestine channels because the money is collected from crime proceeds which the department is tracking".


Alleging that the Rose Valley Group was resorting to "court shopping" to delay the investigations, he said that they were moving courts after losing cases endlessly. "Once they lose in one court, they will move to some other court just to hamper the investigations. Even they are moving lower and higher courts in places where the probe is not covered under its jurisdiction," he said.

"Even if they get a month's time during the interim period, it is a high possibility that money is being siphoned off by the group", he alleged.

Money collected by Rose Valley was five times bigger than that of Saradha, ED had said earlier. The source said, "In spite of the ongoing probe, the group was active and collecting money for which the official name Rose Valley has been changed to Chocolate Group and Sun City Group. Although they are retaining the Rose Valley brand name".

To unearth the name change, ED had deployed a decoy for hotel booking at one of the properties. "So far, ED has attached Rs 300 crore in cash of the Rose Valley Group. We are not worried about immovable properties, but about movable ones like cash," he said. Regarding Saradha scam which the agency was also probing, the source said that once the CBI filed chargesheets against the main conspirators, it would follow suit.
Rajendra K Goyal (Expert) 14 February 2015
You should continue your efforts. As advised by the expert prabhakar singh ji, the things does not look so easy.
ajay sethi (Expert) 14 February 2015
lodge police complaint of cheating against the company . also file summary suit to recover your money
T. Kalaiselvan, Advocate (Expert) 17 February 2015
You may follow the suggestions made by experts, whatever worth it is, start your legal action and put your mite in it to recover the amount.


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