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Jai Prakash Associate not repaying FD principal even after maturety
05-Oct-2023 (In Recovery Law)
Dear Sir, I have invested in Jai Prakash Associate company FD which is got matured on 02/04/2015, and they have not re payed my Principal amount and when contacted them they informed me that CLB ( company Law Board ) has given them 6 months time till 30th Sept, 2015, and when contacted them on 1st of Oct, they informed me that CLB has given further time till 30th Dec, 2015, at situation can send them a legal notice thru any lawyer ?, and in last 6 months this company neither paid any interest nor returning my principal amount, pls advs if I can send a legal notice on this case
If the CLB has in fact provided them time and the Company is complying with the order then no grounds would be made out against the company.
However, if there is no such court order or the comany is not in compliance with the order, you could definately approach the courts. If grounds are made out you should first send them a legal notice.
To find out whether such an order has been passed or not you could always have a look at the order sheets on the CLB website at clb.nic.in
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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