Got Cheated by Bajaj Capital Advice of investing in Corporate FD’s

POSTED BY kannanj ON April 8, 2014 9:21 pm COMMENTS (5)

Hi,

My father invested his hard earned retirement fund of Rs.10 lacs splitting in to 10 fixed deposit schemes as advised by Bajaj capital. Now out of 10 deposits 7 companies are not repaying money for more than 4 months which includes Micro Technologies,Birla power company,Omnitech infosystems, Plathico pharmaceuticals, Avon Corporation, Unitech realty and Elder Pharmaceuticals.

Would like to know how to get repayment from the above companies as Bajaj capital is not at all helpful in getting the mentioned amount and no enthusiasm to service customer after advising such bad schemes. Also concerned about other 3 companies Shriram Transport finance, Ansal properties and Jaiprakash associates whether they will also delay repayment after maturity which is due in june. Requesting your suggestion how to deal with the case in getting money.

5 replies on this article “Got Cheated by Bajaj Capital Advice of investing in Corporate FD’s”

  1. ashalanshu says:
    April 10, 2014 at 5:26 am

    Dear Seenu, the Birla power is part of Yash birla Group. Not the most successful Aditya Birla group.

    Thanks

    Ashal

    Reply
  2. rockingguy says:
    April 10, 2014 at 1:26 am

    Try registering your complaint with Ministry of Corporate Affairs

    Go to http://www.mca.gov.in/DCAPortalWeb/dca/jsp/mydca/home/StaticFramePage.jsp?para1=/MCA21/dca_html/downloadeforms/Download_eForm_choose.html
    Under ‘Investor Services’ > Form for filing complaint(s) against the company

    You can find Corporate Identity Number (CIN) at http://www.mca.gov.in/DCAPortalWeb/dca/SearchCIN.do

    For example, L31101MH1984PLC032773 is CIN for Birla Power

    Choose Section 3 (iii) in the form
    Complaint on fixed deposits (non-receipt of amount) –> Matured Amount

    Reply
  3. seenujgs says:
    April 9, 2014 at 8:35 pm

    Extremely sorry to hear such cheating stories. Sorry Kannan.
    Any one can answer that Birla power company is Birla Group ? I hope it is not. ?

    Seenujgs

    Reply
  4. vijay says:
    April 9, 2014 at 7:40 pm

    Corporate FDs are always a risky affair…even the ones with AAA rating are better avoided….Some relative of mine got caught up in a mess with Tamilnad Mercantile FDs. He eventually recovered his money after much follow up and persistence.

    Reply
  5. ashalanshu says:
    April 9, 2014 at 12:15 am

    Dear Kannan, your father’s case is the very same reason I do not like Corp. FDs. You can not do anything. Yes I’m sorry to say but apart from filing a court case, you do not have any more options.

    Thanks

    Ashal

    Reply

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