My FD has already matured in this month i. Jan., 15. Interest cheque for Dec.’14 quarter returned by Axis Bank with remark “Refer Drawer”. No body picks up phones. What Next ?
Post your reviews / feedback or experience by clicking on the following submit complaint button.
Frustrated?
Frustrated?
Contact Mr. Vaman Barje – 022-26730058 (Extn: 263) alternatively dial Extn (200 and ask for Vaman Barje in FD department)
I have exactly the same issue. Interest cheque returned by the bank for reason “Refer to Drawer”. Tried calling their registrar who say they are not responsible.
Tried calling the Elder office. Nobody responds to the phone. Very unprofessional!
I guess the next thing to do is to go to their office in person.
Ok, here’s what you need to know. I also have FD with this company and my interest chqs of December have also bounced. It seems there are several complaints for the same reason.
Their contact number is 022 2673 0058-67. Extension 263. The person who answered the phone says the company is in financial trouble and they are re-working a new schedule to pay back the investors. He says the new plan will be known by Jan 31.
You may also want to see the following link:
http://www.elderindia.com/elderadmin/annoucement/1416825944_clb%20application.pdf
As far as their financial trouble is concerned, they had sold their business to Torrent Pharma for Rs 2000 and it was reported that the companies debts were Rs 1300 crores. So this situation should have cleared their financial difficulties but it appears not to be the case. As per the company’s application to the CLB, they are still in financial difficulties to pay back a total of Rs 155 crores of FDs.
What is not good in all of this is that the company has not bothered to keep the investors informed.
Ok, here’s what you need to know. I also have FD with this company and my interest chqs of December have also bounced. It seems there are several complaints for the same reason.
Their contact number is 022 2673 0058-67. Extension 263. The person who answered the phone says the company is in financial trouble and they are re-working a new schedule to pay back the investors. He says the new plan will be known by Jan 31.
You may also want to see the following link:
http://www.elderindia.com/elderadmin/annoucement/1416825944_clb%20application.pdf
As far as their financial trouble is concerned, they had sold their business to Torrent Pharma for Rs 2000 crores and it was reported that the companies debts were Rs 1300 crores. So this situation should have cleared their financial difficulties but it appears not to be the case. As per the company’s application to the CLB, they are still in financial difficulties to pay back a total of Rs 155 crores of FDs.
What is not good in all of this is that the company has not bothered to keep the investors informed.
I am also having the same problem the interest cheques are returned by the Axis bank.
If any solution please inform as no one is picking up the phones……
I and my husband hold FDS in Elder and have not received the principal amount,We depositors need to co-ordinate and move the courts My telephone number is 022 26281360
Parvati Laxman