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.

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  1. sisir saikia says:

    I had paid close to 90000/- to prestige Holiday resort , Goa in 2007-8. I am yet to recover the money , though there is serious violation of terms.
    Pl help in recovering the amount as it is tantamount to cheating .

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