I had appointed Bajaj Capital for advising me on investments. I had invested Rs. 3L in FD floated by m/s Unitech for a period of 3 years in 2013. I had forwarded original receipt duly discharged to Unitech via Bajaj capital upon maturity in 2016. I have not received my money till today. SC had put Unitech owners in jail. They will be free when they had deposited sufficient fund. Furthermore I found that Unitech had defaulted on FD since 2011. Also they do not have licence to accept deposits from public. SD has appointed amicus curiae to collect details of all FD holders. The hearing dates are getting postponed every month. Now my questions are, 1) Am I supposed to file separate case against Unitech or whatever a.c. is doing is sufficient?. 2) Bajaj capital being financial advisors, they are expected to know non availability of licence by Unitech. Also there was history of default since 2011. So advising me for investing with Unitech can be termed as deficiency in service and make them party to th fraud?
First answer received in 30 minutes.
Lawyers are available now to answer your questions.
you ought to file separate case against unitech as other wise your claim would be barred by limitation
2) bajaj capital ought not to have advised you to invest in Unitech if they were aware that Unitech had defaulted in payment of interest to FD holders . it would be deficiency in service on part of bajaj capital
File application to implead you in ongoing cases.
You can raise claim against Bajaj as it was custodian of your amount and responsible to pre check to make investment in legally certified complanies. And since you have invested on advise of bajaj who being in the advisory business must had prerequisite knowledge and is solely responsible to wrong advise.
Even there is amicus query appointed you can go to the consumer forum against ki unit 1 as well as Bajaj Capital for shortage in services you can make Bajaj responsible for the losses you incurred due to non payment of fixed deposit and a consultant must be aware that the Unitech had no licence to get the fixed deposit
1. is any NCLT petition filed against Unitech?
2. please have that checked
3. if a resolution professional is appointed for Unitech then you can lodge your claim with him instead of filing a separate petition in NCLT
4. A consumer complaint can be filed against Bajaj Capital
Hi,
You are suggested to go along with other investors but don't leave Bajaj capital also as they have committed breach of trust and have not suggested you correctly. Further there are deficiency of services also. In most of the cases, the advisor is not concerned about the investor or his fund, rather they are interested about the commission received by them.
Hi, it is advisable to file for SLP in Supreme Court , as the owners are still in jail ..Of you want proceed at district level you can file a civil suit for recovery
Yes separate case will get good. Yes it is deficiency of service
1. The complaint AC shall be sufficient though a separate complaint can be filed.
2. You can file deficiency of service complaint in consumer court against the Bajaj Capital being financial advisor as there are deficient services.
1. There is no bar for filing a separate case against unitech, however you may implead yourself in the pending case as a necessary party also.
2. You cannot blame bajaj finance for this and cannot claim that this as deficiency in service since you volunteered to avail their service and they did what you wanted them to do, hence in my opinion you may not have any case maintainable against the bajaj finance.
I thank all lawyers for their valuable advice. As all have suggested to file a case against unitech as well as Bajaj capital, I want to proceed ahead with the advice. i want to know who can help me further. Since I am from Mumbai suburbs and I can not move out, I want to find lawyer based in Mumbai western suburbs.Also I can't afford high cost. Can I get such help?
You can contact me through kaanoon. I will assist you in filing the same.
1) litigation is long drawn and expensive proposition
2) it is better you engage lawyer practising in consumer forum for filing case against unitech and Bajaj capital
Hi,
As suggested, you have to proceed against UNITECH as well as Bajaj Capital. Rest of the decision and choice of lawyer totally depends on you. You may engage a counsel of your choice.
There are number of lawyers from.mumbai herein on Kaanoon you can fix an appointment and can engage there services.
You can look for a lawyer from this forum also who hails from your area or neighborhood.
You first go out and see if you can find any lawyer suiting you and proceed with the proposed case.
You may get in touch with a Mumbai based lawyer through this portal
