UNITECH LTD defaulted in payment of FD

Complaint Against Unitech Fixed Deposit:
Lot of small Investors will be interested to earn few
percentage extra interest compared to Bank interest.
And the FD is considered as secured against investing
in equity. We accumulate some savings after paying
honest TAX to GOVT and secure it for future or immediate
future. It could be for pre-paying Home Loans or to pay
EMI's for tough times (my case is similar).

We invested in Unitech FD thinking it is safe and now
Unitech has defaulted payment of Principle after
getting the original certificate surrender from investors
like me. Lot of investors have filed complaint with
Ministry of Corporate Affairs (MCA) and MCA has responded
back saying they are working towards it.

I'm raising this concern in all forums so that small investors
like me get justification and quick settlement as we have
EMI's pressure.

PLEASE HELP to build pressure and MCA can initiate penal
action against Unitech LTD. more  

View all 20 comments Below 20 comments
Such defaults should be made criminal offence and promoters should be sent jail as done by Supreme court to Sahara chief and should be released only when all duesare paid more  
This is true with other real estate players as well like JP and DLF....my sincere advice would be stay away from the Real Estate players as they are looking for easy prey like the one above.
Best would be take it up with the consumer court as Unitech is in deep trouble on 2G scam and has a huge debt. Almost all of there projects are on stand still. more  
Govt /MCA has to take immediate action and help the small investors first by doing justice to them otherwise their lives will be measurable having invested their hard earnings
G.K.Naidu, Hyderabad more  
unbelievable. i have reproduced the item in my blog http://mkmathai.blogspot.in/2015/03/reproduced.html i will take it later to my e paper too more  
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