IndSwift FD - Repayment

I had invested in a 3 year FD with IndSwift Labs in 2012. in 2013, they sent a letter stating that because of financial problems they would repay the interest and principal in installments. The Notice mentioned the revised scheme for repayment of deposits over the next 7 years starting after a moratorium of 2 years from date of maturity of deposit. Until last year (2018), the repayment was paid promptly. However, this year, despite repeated requests, reminders, there is no response from them.
Would appreciate is there are others in the same boat? If you have received the payment? If not, any thoughts on what could be done?
Thanks in advance for the advise. more  

View all 11 comments Below 11 comments
Last week I recd a mail stating that all due payment will be paid before 31st of dec 2019
From: Padmanabhan G <>
Sent: Tuesday, October 29, 2019 1:33 PM
To: <>
Subject: "IndSwift FD - Repayment" more  
Thanks Mr. Gupta for the information. I will wait. more  
It is unfortunate that some people get into the trap of such companies, i remember one Morepen Labs who had issued FD to public and failed to return there deposits quoting bankruptcy, subsequently after a long legal battle by a few stake holders on the orders of the court they issued some shares, the company is doing fairly ok now, so suggest likeminded people approach the court, you will get some relief after some years. more  
Who is IndSwift - a company or a NBFC or a society etc. more  
Indswift labs is A leading manufacturer and exporter of Active Pharmaceutical Ingredients. more  
What had prompted to invest in a private company when we had so many options of 1st class banks? Difference of interest must not be 1 or 2%. If the offer was for much more, immediately you should have become alerted because no entity can bear the burden of unusual higher rates of interest when the rate in the money market is much less. You are now to encounter unending process including legal actions spending lots of money and exhausting energy to get your hard earned money back with no guarantee of getting success. There is no option left now but to act as per the guidelines of other members. more  
Read the terms & conditions of the scheme in question , normally printed in smallest letters! more  
Post a Comment

Related Posts

    • PayTm used for cheating, PayTm must have means of recovering the amount

      I saw a message offering POCCO PHONE FA 1 for Rs.2499 as the day's offer. Once I logged in, it asked for credit card payment, once I gave details it took to PayTm and payee is one Shri sai Pharmac...

      By Sahadeva Sahoo
    • Videocon is a must avoid

      I am writing this letter for extremely frustrating couple of days from VIDEOCON side about my Videocon Led Tv Repair status which is an under warranty product and they are not resolving my issue fr...

      By Rohit Singh
    • HP Printer

      I had bought HP 410 WireLess printer in Oct ,2018. After few months we had a problem where printer was showing out of paper while papers were in it. This reoccurred so we called tech support. T...

      By Chetan Desai
    • Improving integrity of Online Reviews: Inputs on Solutions

      Below are some if the key issues outlined by you all with regards to Online Product Reviews on eCommerce sites. Kindly review them and share solutions that will help enable consumer access to unbia...

      By Dept. of Consumer Affairs (Government of India)
    • Improving functioning of eCommerce Cashback Programs

      Below are some of the key solutions proposed by you to issues regarding eCommerce cashback programs. Kindly review the same and if you have any additional solutions, please share. We look...

      By Dept. of Consumer Affairs (Government of India)
    • Solutions to improve workings of Online Travel Sites

      Below are some of the key issues outlined by you in regards to travel web sites in India. Kindly review them and share specific solutions that must be implemented to fix these issues. We look forw...

      By Dept. of Consumer Affairs (Government of India)
    • Online or ePharmacies - Inputs on Solutions

      Below are some of the key issues being reported on online or e-pharmacies and apps. With this post, we would like to seek your specific inputs on solutions that will help address these issues .

      By Dept. of Consumer Affairs (Government of India)
    • I am facing a manufacturer issue in Apple iPhone 8

      I am facing a manufacturer defect in logical board of my iPhone 8, for the same when I reached out to Apple support they strictly denied it and asking me to pay amount 32,250 rupees to replace this...

      By Avadhesh Sengar
    • Hotstar India Cheating

      I have taken yearly connection of Hotstar India and there is absolute no support for the issues. Moreover once subscription is paid, it is not refundable. Phone number is not answered nor emails. E...

      By Pradeep Kamat
    • DTH requiring KYC ridiculous

      The new KYC process has been mandated for all new as well as existing DTH subscribers in the country. For new subscribers, they will have to go through the entire KYC process similar to subscribing...

      By Ajay Dutta
    • Misleading Advertisements by eCommerce sites: Inputs on Issues

      Below are some of the key issues raised by you in regards to misleading advertisements by ecommerce sites. Kindly review the same and share any additional inputs you may have. We look forward to yo...

      By Dept. of Consumer Affairs (Government of India)
Share To
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)