Violation of Terms and Conditions for Deposit
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years.
Prosecutions were filed against M/s. Morepen Laboratories Limited, M/s. Euro Cotspin Limited, M/s. Asian Alloys Limited and M/s. Unique Entrade Private Limited.
Names of the companies who have been asked to offer comments on complaints are:
1. M/s. Medinova Diagnostics Services Limited;
2. M/s. SVPCL Limited;
3. M/s. Prestige Holiday Resorts Private Limited
4. M/s. Dharti Dredging and Infrastructure Limited;
5. M/s. Nagarjuna Plantations Limited;
6. M/s. Nagarjuna Agrichem Limited;
7. M/s. SOL Pharmaceuticals Limited;
8. M/s. Raji Vedant Constructions (India) Private Limited;
9. M/s. Charminar Steels Limited;
10. M/s. Nagarjuna Plantations Limited; and
11. M/s. Royal Goa Beach Resorts Private Limited.
The minister was replying to a written question whether the Government has received any complaints about the violation of terms and conditions pertaining to public deposits and the non-repayment of these deposits by private companies during the last three years; the details of the companies against whom action has been taken in this regard during the said period; and the details of companies against whom action is pending alongwith the reasons for the delay.