• Chitfund company stopped paying debenture

Is there any way I can get refund of my money invested in Non-Convertable Redeemable Secured Debenture in a chit fund company. Tha company has stopped paying debentures and not returning money also.
Asked 3 years ago in Business Law from Haldia, West Bengal
File a case u/s 320 IPC against the company director.
File a civil suit for recovery of money.
Devajyoti Barman
Advocate, Kolkata
11690 Answers
146 Consultations

5.0 on 5.0

file winding up petition against the company after issue of winding up notice 

also file summary suit
Ajay Sethi
Advocate, Mumbai
41654 Answers
2391 Consultations

5.0 on 5.0

1. It is difficult to get back the money in normal course from the Chit Fund Company,

2. You will find that nothing has been left for your realsing the amount through legal action,

3. You can try filing an application before the Shyamal Sen Commission set up to pay back invested amount to the investors of 'Sharada' Group of Companies.
Krishna Kishore Ganguly
Advocate, Kolkata
17290 Answers
424 Consultations

5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer