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.