UNITECH Fixed Deposit – Non release of payment matured FDRs

Keeping in view the Engineering College exepenses, a sum of Rs. 2,50,000 was deposited in UNITECH Fixed Deposit Scheme vide three FDR Nos. 1234070, 1249024 & 1249023 for Rs. 1,00,000, Rs.1,00,000 & Rs.50,000 maturing on 12.08.2014, 23.02.2015 & 23.02.2015 respectively. Out of these three FDRs, amount of one FDR No.1234070, due for payment on 12.08.2014 has not been released till day, putting the investor to face financial hardship for continuing his engineering college studies at CHANDIGARH. UNITECH has ignored several reminders by maintaining long silence though was repeatedly requested to release the said amount out of Company’s reserve funds to meet such emergent hard requirement of the INVESTOR, he being a engineering student. Hence there is emergent need to intervene for release of all the said three FDRs along with penal interest @18% for the FDR which was due on 12.08.2014 so that carrier of the investor is not affected for smooth continuation of his studies.

UNITECH be directed to release the funds to the INVESTOR immediately along with penal interest @ 18% P.A., compounded quarterly as is charged by UNITECHfrom its customers for delay in payment of any installment by them.

Email Id: batra_ml@yahoo

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