'State the date you last wrote'

My wife, my son and myself had invested Rs 5,000 each in fixed deposit schemes for three years with Medinova Diagnostic Services Ltd (6-3-252, Kautilya, third floor, Somajiguda, Hyderabad 500082) on December 26, 1997. The company has its city office at 1, Sarat Chatterjee Avenue, Calcutta 700029. The FDs matured on December 25, 2000 (the maturity value coming to Rs 7,850 each). In spite of repeated reminders to the head office and visits to the city office, the company has not paid up our dues. We are now geeting tired of the false assurances. Please suggest a course of action against the company.

Arabinda Pal,
?Sova? C-202, Shantiban,
7, Umakanta Sen Lane,
Calcutta 700030

the company: The company has taken the necessary steps to release the maturity amount of the complainant. Meanwhile, the members are entitled to enjoy diagnostic benefits at a discounted rate of 65 per cent till the date of payment.

Authorised signatory,
Medinova Diagnostic Services Limited,
1, Sarat Chatterjee Avenue,
Calcutta 700029

the expert: It is quite unfortunate that your payment was withheld for reasons best known to a company of repute. However, let us hope that you get your dues shortly as it appears that the company has already initiated steps to release the payment. It is difficult to guess when you would finally get your dues as it is not very clear from the company response. It also remains to be seen if the payment would include the interest at the contractual date till the date of payment.

It is indeed time for adequate laws to be framed to combat with such incidents. If you still do not receive your dues in a while, then you should initiate a proceeding before the Consumer Forum under whose jurisdiction the company has its branch. In computation of limitation, please put the date on which you last corresponded with the company office for your payment. Please note that the proceeding should be initiated within two years from that date. Otherwise, the same would be hit under Section 24A of the Consumer Protection Act as ?barred by law of limitation?.

New committee

I had deposited Rs 10,000 in a one-year fixed deposit scheme with M/s Lloyds Finance Ltd. However, since the maturity of the scheme I have received only one cheque for Rs 2,000 as the first instalment of payment from Lloyds. The second payment was scheduled — as per repayment norms fixed by the Company Law Board, Western Region Bench — on May 22, 2001. Accordingly, I sent the FD receipt, duly signed, to the company. Since then, I have not heard from the company at all. Please do something about this.

Sunanda Mitra,
5-A, Geekay Towers, M.A. Road,
Rehabari, Guwahati 781008

the company: No response

the expert: The Bombay High Court, vide its order passed on March 12, 2004, has appointed a special committee to manage the affairs of the Lloyds Finance Company. You should take up this matter with Justice V.R. Datar, Chairman, Special Committee — Lloyds Finance Limited, Unit no.3, Ground Floor, Raheja Centre, Nariman Point, Mumbai 400021

Where’s my share?

I am holding 200 equity shares (registered folio no. 5916) of Janak Turbo Dynamics Ltd, Plot no. 825, Sector III, Pithampur, Madhya Pradesh. Not even once has the company paid me any dividend. I have not heard from the company in spite of several reminders. I have even written to the Sebi voicing my concern regarding the existence of the company. That too has not yielded any result. Please tell me what I should do now.

Chanda Sanyal,
Santoshpur, Calcutta 700075

the company: No response

the expert: You have to first ascertain that the company had declared dividend to its shareholders. Only then can you think of taking a further step. If it emerges that other shareholders have received dividend, then you should definitely initiate a proceeding against the company before a civil court for violation of contract. The Consumer Forum is not the right platform for the adjudication of such disputes. In this connection, it is pertinent to mention that the National Consumer Disputes Redressal Commission — while hearing the case of Sushila Agarwal vs ITC Agro Tech Limited — has observed that the same does not come under the purview of the Consumer Protection Act.

Waiting forever

On April 2, 2003, I submitted the option form of my US-64 units. Till date I have not received the repurchase amount. I have written to UTI several times. Also, I have had meetings with a number of UTI officials at its K.S. Road and Brabourne Road offices in Calcutta. Lastly, I wrote a letter to the UTI-ISL, Central Processing Centre, Navi Mumbai. After that, much to my surprise, I found that the the company has deposited interest to my bank account against bond warrant no. 70200287. This is really strange because I had never asked for payment against bonds. I have written to the UTI once again but to no avail. Please help me out.

A.D. Chatterjee,
Sinthee Road, Calcutta 700030

the company: No response

the expert: It is clear what the company has done is not what you have directed. You should once again try to sort out the dispute with the UTI officials at 29, N.S. Road, Calcutta 700001. If they fail to give you a satisfactory explanation, you should consult a lawyer to plan your course of action.

Back to square one

We had deposited Rs 1,000 in fixed deposit with Dunlop India Limited. The deposit matured on November 2, 1997. After a long wait for returns, we wrote to the Company Law Board for redressal. In December 1999, we received a letter from the Board along with a copy of its order by which the company is supposed to repay the maturity amount. But we are still waiting for our dues.

Ratna and Prakash Ch. Kundu,
Belghoria, Calcutta

the company: No response

the expert: You have to go back to the Board as the Consumer Forum cannot entertain a matter pending before it.