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Arvind Dorwat   14 October 2015

Recurring deposits - prepayment

We have deposited money under recurring deposit scheme of  HBN Foods Ltd, they operates the scheme through joint venture , the total term of said scheme was 5 years after that company return the above amount with some interest amount .in my case they deposit the amount up to around 2 years and now the agent of company is saying Company has discontinued the said deposit scheme and not accepting money.

Agent is saying, the officials of the company say money will be refunded only n only after the completion of term i, e 5 years  .

my question is whether  i will  get my money before the term ..what is my position now ?

And what SEBI can interfer to get money back to investors? Where should we complain or file a case?



Learning

 1 Replies

siddhartha sinha   21 October 2015

They have not denied it to you. Preclosure is a matter of terms set in the contract. They may refuse if not earlier promised. And yes kindly talk to the company DIRECTLY not an agent. As far as possible communicate through email or regd. Post SEBI comes to the picture when they start defaulting not as of now.

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