Deposited some money to Non Cumulative quarterly interest payment Scheme of Helios & Matheson Infotech Ltd. TDR No FD BO 14447. The same got matured on 08/6/2014. The Company issued PDC fort he matured FD amount. The same PDC got bounced back. The PDC and FD Receipt have been send to Company in June 2014 only. Fresh payment is not received yet. Company is not intimating their payment details also.
© 2025 Consumer Complaints Forum, Contact us via E-mail
NON RECEIPT OF FD REPAYMENT
Non receipt of the Term Deposit Receipt APPL. REF. No. 107807(TDR No. CDB 038767) from helios & matheson information technology Ltd.
Sir,
I have invested Rs.50,000/- in Term Deposit in May,2013 Under Money Back Cumulative Scheme for a period of 36 months at 12% interest. TDR No.CDB038767 . Said Deposit matured on 7th May,2016.
The TDR was issued with post dated cheques (PDCs) for encashment on maturity. Accordingly In May,16 I had deposited 2 Cheques issued by the Company for Rs.50,000/ for Principle Amount – and Rs.21540/- being the interest. However both the cheques got dishonoured with remark Funds Insufficient.
I have not received any communication from the Company on non deposit of any of these cheques or any difficulty faced by the Company in repayment of Deposits.as well as registered complaint against company at andheri police station. I have been following up with the company and their brokers but their office at
Andheri has been closed and there is no response to my queries either directly or through broker. I will enclose here with the Scan copy of the Fixed Deposit Receipt for
your ready reference if you so desire.
Sir I request you to help me in getting my Deposit amount with Interest at the earliest.
with regards
Arun Dhotre
Mobile No.9221029235/8454835108/9819950297
Email:[email protected]
Dear Mr. G.K.Murakifrishna, MD, Mr. sadasivam-Addl CS,
Please do needful at earliest to pay my maturity amount
FDR(FDB008376) worth of Rs. 2.0Lacs is not refunded by Helios and matherson since August 2014.
Amount is hard earn money. Due to non payment of maturity amount I have many problems.
Dear Mr.G.K.Muralikrishna, Managing Director,
Dear Mr. D. Sadasivam-Addl. Company Secretary,
Dear Geetha Nathan,
FD NO. FDB026272 FOR RS.270000/-
PLEASE REFUND MY FD AMOUNT OF RS.270000/-TOGETHER WITH INTEREST.
INTERST CHEQUES ARE BOUNDCD SINCE 16/12/2014
DINKARRAI K.PATEL,
FDB025960 and FDB033527 FDB012696,FDB016087,FDB022974
1) For the above 4 FD’s i have not received the interest amount of 5,000/- and 1,000/- thru ECS for FDB025960 AND FDB033527 from December 2014 onwards till date due 16th of each month.
2)And also FDB012696,FDB016087,FDB022974. Due on 16th February 2015 and March 2015 i have not deposited the interest cheque amount as per instruction from your end.Kindly let me me know when these interest cheque should i deposit.
Will i be getting my interest and principal amount …..i badly need of money for my children future education.
i have the same problem with this company.
they have issued cheque and it got bounced , reason being no fund or stopped by helios and matheson.
the details are as follows. 1.TDR NO CDB048864 matured on 21st december 2014.
2 .TDR NO CDB052751 matured on 19th march 2015.
request your help.
G.Asokan.8754462466.
FDRs worth 2.4 lacs plus interest due in Dec. 14 , when I shall receive payments of maturity value
Background :
We understand that, in the month February 2014 Helios & Matherson Information Tech Ltd (“Helios”), had accepted deposits from various depositors in terms of the Companies Act, 2013 (“Deposit”). Against the said Deposit, Helios issued post dated cheques (“PDC’s”) to Depositors towards quarterly payment of interest. However, these post dated cheques for the quarter ended July 2014, September 2014 and December 2014 were dishonored by the banks of Helios, due to insufficiency of balance in the account. “Helios and its Officers in charge” (including Promoters, directors and key managerial persons) are in default, and are legally answerable and liable for punishment and pay compensation to the deposit holders.
In light of this background and prevalent legal scenario we are sharing legal remedies available with depositors :
I. Against “Helios and its Officers in charge” : –
Civil remedy before Company Law Board (It takes 3 months for order of CLB)
1. Payment for damages to the deposit holders, on account of default and financial/mental/physical agony/ legal cost;
2. Prompt payment of Interests on the deposits and principle amount;
3. Monetary penalty of twice the amount collected through fixed deposits;
4. To move court seeking the winding up of the Helios and distribution of assets of Helios amongst the deposit holders;
5. be punishable with fine which shall not be less than one crore rupees but which may extend to ten crore rupees;
6. Officers in charge of Helios may be held liable for a 7 year imprisonment.
Consumer Protection Act
The other alternative is to file a consumer complaint before the consumer forum under the Consumer Protection Act, 1986. This can be done in view of the judgement of the National Consumer Disputes Redressal Commission, in the case of Neela Vasant Raje v/s Amogh Industries & Anr [X-1993 (3) CPR 343] wherein it has been held that a fixed deposit holder is a consumer entitled to file a complaint under the CP Act and entitled for compensation delay in .
Criminal remedy
1. Action for cheque bounce under section 138 of the Negotiable Instruments Act;
2. Action for fraud
II. Against CRISIL (credit rating agency for deposits of Helios)
i. before SEBI cancellation/termination of CRISIL’s credit rating license since in violation of providing appropriate ratings, so as to mislead the deposit holders ;
ii. before consumer court for seeking compensation for deficiency in service by CRISIL in providing correct information and in timely manners;
OUR OPINION:
If objective of Depositors is solely to recover their money i.e. Interest on deposit amounts as agreed and payment of deposit amount along with damages with interest for the delayed period @ 15 %, it is advisable to go behind Helios and its officers before Company Law Board. There are similar precedents like Zenith Birla (India) Ltd, Birla Power Solutions, Ankur Drugs and Pharma, Nagarjuna fertilizers etc. wherein deposit holders got back their due amount within 3 months from CLB .
Further it shall always remain open to the deposit holders for criminal action against the Helios and its Officers in Charge AND against CRISIL, however which may incur huge legal cost in comparison to the end result.
Regards,
Supreme Waskar
Advocate Bombay High Court
09860 397591
You can file cheque boucing case. For my client i am filing it.
Regards,
Ram Kutwal,
Adv. Mob. 9022701818