Lost interest

I had invested a lump sum amount in a fixed deposit with Duncan Industries Limited in November 2001 for a three-year term (under the monthly income scheme). For the first few months, they sent the cheques for the interest amount. All of a sudden, they’ve stopped sending the cheques. Meanwhile, I was supposed to get my maturity amount along with the interest. But despite several requests, the company failed to provide the maturity amount. I have sent them several reminders but to no avail. How do I get back my hard-earned money in my old age?

S. Choudhuri,
9/3, Priyo Mitra Road,
Calcutta 700048

The company: No response.

The expert: What appears from the complaint is that in spite of his best efforts, the complainant has failed to obtain the matured amount on the fixed deposits along with due interest from the company. Meanwhile, since the complainant has not approached the Company Law Board — from where the company has obtained an order for payment of the matured amount on a scheme of deferred payment — the complainant can initiate a proceeding against the company before the jurisdiction of the district consumer fora where the company has its office. The consumer can claim not only the matured value but also the updated interest on the amount along with compensation for the harassment caused.

Legal eagle

I entrusted an advocate Birendra Kumar (Army advocate) of New Delhi with filing a special leave petition (SLP) before the Supreme Court of India and paid him a fee of Rs 10,000 but he did not do so. The matter relates to my pension which my employer, Indian Bank, Chennai, has denied to me. I also made a complaint to the Bar Association of the Supreme Court but to no avail. What is my remedy?

S.P. Paramanandam,
Tollygardens, Block B 2A,
340, N.S.C. Bose Road, Calcutta 47

Bar Association, Supreme Court: No response. nthe expert: In the absence of any documents to substantiate your case, the allegations so made against the concerned advocate cannot be proved. I presume that in view of this, the Supreme Court Bar Association has not taken any step so far. However, if the complainant has in his possession any cogent evidence or documents to sustain his claim, he may lodge a complaint with the Bar Council for appropriate relief and redress.

Payment due

I invested Rs 10,000 in a fixed deposit scheme with Lloyds Finance Ltd, Calcutta. It was supposed to mature on February 21, 2002, but by that time, the Calcutta office had downed shutters. So I deposited the certificates at the company’s Mumbai office on February 5, 2002. However, to date, I have received no payment, although the Company Law Board, Western Region Bench, under Section 450 (A)(2) of the Reserve Bank of India, Act 1934, was scheduled to make the payment of the fixed deposit amount in instalments. Please advise.

Nirupam Adak,
Sector-2D, Q. No. 5010, B.S. City, Bokaro,
Jharkhand 827004

The company: No response.

The expert: With regard to Lloyds Finance Limited, I am to inform you that the special leave to appeal (civil, no. 8560/2003) before the Supreme Court of India in the case of M/s Lloyds Finance Ltd vs A.L. Katya and others was disposed of on December 17, 2004 and leave was granted till the stay was refused. In view of these circumstances, you can certainly raise the issue before the Company Law Board for relief and redress.