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Golden panel to clear dues

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PINAKI MAJUMDAR Published 10.09.04, 12:00 AM

Jamshedpur, Sept. 10: The investors and members of Golden Forest India Limited will organise a meeting in Chandigarh on September 23 and 24 to form an executive body to pursue the claims of investors following the order of the Supreme Court.

Golden Forest, one of the largest non-banking finance companies of the country, stopped operations in 2000.

General secretary of Golden Forest National Investors? Forum, Sudip Mukherjee, said investors from across the country would attend the meeting in Chandigarh, which is also the company?s headquarters. ?Members of the investors? forum and 72 existing societies have been asked to attend the two-day meeting,? Mukherjee said.

The executive body of investors will also assist the special committee to identify the assets of the company, which is valued at Rs 1,200 crore. Besides, the meeting will also serve as a platform for investors from the rural areas, who hardly know how to fight for their claims, said Mukherjee.

The Supreme Court issued the order last month by setting up a special three-member committee to take charge of the assets and scrutinise the claims of investors who had invested their hard-earned money in the various schemes of the non-banking finance company.

The apex court, after hearing a petition filed by the Securities and Exchange Board of India (SEBI) against Golden Forest India Limited on September 19, constituted a special committee headed by K.D. Thomas (a retired Supreme Court judge).

It empowered the committee to take charge of all assets and disburse the investors? claims within six months.

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