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NCLAT : Defaulting company liable to repay FDR amount alongwith interest to its deposit holders
Case Law Details
- Case Name
- Ateet Bansal Vs Unitech Ltd (NCLAT)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
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- Courts
- NCLAT
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Ateet Bansal Vs Unitech Ltd (NCLAT)
Conclusion: Following the principle of justice and equity, the defaulting company ‘Unitech’ was liable to repay the amount to its deposit holders principal along with the future interest @12.5% per annum from the date of maturity of the respective FDR till receipt thereof alongwith Rs.50000/- each to assessees towards cost of litigation, costs etc.
Held: Assessee–depositor who had bought a FDR from Respondent Company dated 01.06.2013 for Rs. 1,00,000/- for a period of three years and an amount of Rs. 1,45,217 was payable ...
Our FD No.1220489 matured on 31-5-16 which has not been paid. I, Manohar Lal Bhatia, is the joint holder, age 86+. FD was meant for to cover my medical expenses in advancing age, During the last one year I was hospitalized thrice. Suffer from cardiac problem, Arthritis, Asthmatic bronchitis, Hearing Problem, Neuropathy. Had open heart surgery in 2016, stomach stone removal surgery in this year. Suffered from Covid in August 2022, was admitted to hospital. Heavy medical expenditure being incurred daily. Please help a very senior citizen.