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What action I can initiate to retrieve my invested money
16-Mar-2023 (In Recovery Law)
I invested my hard earned money after retirement from IAF in 2010 in ROSE VALLEY. You may be aware that MD of the Co. has been arrested in money laundering case since last two years. The Co. account has been sealed. What action I can initiate to retrieve the hard earned money? Govt may take action against the defaulter. But why they are not paying to investor is not understood. Kindly advise.
Dear Querist,
You were entitled to numerous legal action against Rose Valley in order to recover your money. The same are as follows:
1. Suit for Money
2. File a Winding up Petition
3. File a complaint before SEBI
4. Simultaneously file a Criminal Proceeding against the Company.
However, since you have only mentioned the year 2010, without providing other required detail, the only cause of concern now arises is that all your claims if counted from 2010 are presently time barred under the laws of limitation unless you can show that you have continuous cause of action against the company.
Though the appropriate authority has stepped in by taking action against the company but relying and waiting without yourself taking any legal action will never suffice the purpose.
Further, information is also required to give an appropriate opinion with regards to the issue of limitation.
Regards,
Sohail Haque
You were entitled to numerous legal action against Rose Valley in order to recover your money. The same are as follows:
1. Suit for Money
2. File a Winding up Petition
3. File a complaint before SEBI
4. Simultaneously file a Criminal Proceeding against the Company.
However, since you have only mentioned the year 2010, without providing other required detail, the only cause of concern now arises is that all your claims if counted from 2010 are presently time barred under the laws of limitation unless you can show that you have continuous cause of action against the company.
Though the appropriate authority has stepped in by taking action against the company but relying and waiting without yourself taking any legal action will never suffice the purpose.
Further, information is also required to give an appropriate opinion with regards to the issue of limitation.
Regards,
Sohail Haque
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Adv. Sohail Haque
Kolkata | 25+ Answers
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