Cheating by Sterling tree magnum
I had purchsed Teakquity from Sterling tree Magnum ( India ) PVt Limited on 21/3/1996 and the matirity of the same is on 20/3/2016 by investing Rs 7100/-.
They are suppose to give interim returns at the end of 6th and 12 th year and Rs 1,95,000 on mauturiy with life time monthly income of Rs 2112/-
But till today there is no response from the company. The letters sent to the address is returned back as the adressee not found.
Can any body suggest , ahat action can be taken and How. more
C. Sivasankaran promoted Siva Computers and Sterling Computers, sold the companies, moved on to Sterling Holidays, Sterling Teak, Maxworth Orchards and many such companies, skimmed the money, sold these companies and moved out of India. He seems to be one of the earliest big time scamsters in our country to have swindled millions of people. Does any one have any information on status of Maxworth orchards? A relative of mine had bought a piece of orchard in Tamilnadu via them around 20 years ago. The land was to be transfered to him which never happened. As he is based in North India any individual legal recourse is not feasible. Any suggestions? more
Mr.Shankar Lal has rightly given the back history.There were some half a dozen such promoters who suddenly wound up operations and sold some of the land back to the owners with irrigation facilities etc. The corruption in private employment was its height when the company was to wind up. more
we have faced this kind of situation, on approach by a known person in the year 1995-96, we invested in a CHHANI Based co.NAMELY -ANUBHAV PLANTATION - in the tree plantation scheme ,ultimately the company backed out and SEBI/RBI banned such companies after fighting a long fight investor group went to Companies registrar/SEBI/RBI High court chennai intervened and appointed liquidator and those investor filed affidavit to Court and we could get very little amount say 30% or so, in 2011 or so, all such companies are fraud and banned by the SEBI, The investor may approach to the Registrar of Companies of the area,and SEBI/RBI there after some clue might be got /not.but it is very difficult and lengthy process more
Thank you, Gupta ji and Iyer ji. more
K Ramu (Retired), I filed one against MICROMAX Ltd, Appeared myself as party in person and won the case getting full relief. send me ur email id I will send the copy of my complaint. U just to need to made few changes as to incorporate details your transactions. firstname.lastname@example.org 9480218954, more