With respect to Ankur Drugs and Pharma the company is in liquidation and upon calling the office I got the response " The company is facing a cash crunch and will start making payment by the end of December 2016". Note most of the FDs have matured in 2013-2014 and it is almost 2 to 3 years with no signs of refund in sight.
I am a physically handicapped person aged 49 staying with my parents aged 80 and 75 respectively. We as a family had invested in the above-named companies' FD as a buffer for the rainy day considering my condition and my parents' old age financial and medical needs. However, it is noted that most of the companies have a standard reply to give "The matter is with the company law board and we can make payment only when the company law board gives us instructions."
We had formed a group of investors to get response from Elder Pharma including Mr James Fialho, Mr. Ramanadham Kaza, and some other investors.
Unfortunately all complaints fall on deaf ears. Nobody responds to our request.
Shirish Shanbhag Shirish Shanbhag has an MSc in Organic Chemistry, Diploma in Higher Education, a Diploma in a French and has completed his LL.B. in first class, in 2021. Before his retirement, he was a junior college teacher at Patkar College from July 1980 to May 2012, where he taught theoretical and practical chemistry. Post retirement in 2012, he started providing guidance and counseling to people on several issues, with a specific focus on co-operative housing society related matters. Adv Shanbhag has a kee
Ashok Kargutkar Ashok Kargutkar is a Certified Associate of Indian Institute of Bankers (CAIIB) and has worked in Bank of India for 26 years. He has also been an insurance advisor with LIC India and AMFI registered Mutual Fund Advisor for 5+ years. He has also been a counsellor at Abhay Credit Counselling Center since its inception in Sept. 2008 to 2014.
AV Shenoy AV Shenoy hold degrees in both Mechanical and Electrical Engineering from VJTI, University of Bombay and a Post Graduate Diploma in Industrial Management from Jamnalal Bajaj Institute of Management Studies. Worked as a Design Engineer in Electrical Business Group of Larsen & Toubro Ltd. at Powai from October 1969 to September 2001 and retired as Dy. General Manager. Also worked as a Facilitator/Trainer for implementation of Total Quality Management (TQM) and ISO 9000 in the organization. Since r
Abhay Datar Abhay Datar is a consumer activist. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of Mumbai Grahak Panchayat (MGP) in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related with mobile banking frauds and mediclaim. He was a Member of the Managing Committee of MGP till March 2021.
Shailesh Gandhi Shailesh Gandhi is a former Central Information Commissioner for the Right to Information Act. He is a successful RTI activist and a regular speaker at Moneylife Foundation.
SD Israni Dr SD Israni is an Advocate & Partner of SD Israni Law Chambers and has over 37 years of experience in the field of Corporate, Commercial and Securities Laws. He has simply written the book on Indian securities laws, copies of which he kindly donated to Moneylife Foundation library. Dr Israni's professional achievements are formidable. He was a member of the Naresh Chandra Committee for simplification of Company Law relating to private and small companies. He has been on SEBI's committee on
Samir Zaveri An extraordinary activist who has dedicated his life to the cause of railways, with a mission to help every rail commuter and accident victims, and improve Railway safety.
Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on legal, RTI, and consumer issues
Sucheta Dalal Trustee - Moneylife Foundation
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