Location/place: Bangalore

Name of company/service: Avon

I had invested in Avon Fixed Deposit which was supposed to be matured by 31st Mar’2012. I haven’t got the money yet and I have called them 14 times till now. Each time I call, I am given a date of today/tomorrow. Day before yesterday, I was told that they have sent the form to bank and I’ll get money by Monday. The money came this far, till the bank and went back. Now I have got a date of 2nd week of July. I admire their shamelessness in committing the dates.


Comments

106 responses to “Avon Fixed Deposit”

  1. sunilkumar pravinchandra patel Avatar
    sunilkumar pravinchandra patel

    same problem till date i have not got the money, maturity date is 07/06/2012

  2. Somesh Avatar
    Somesh

    same issue with also maturity date 10 may 2012… they promise a date always ..no resolution…

  3. PRAKASH Avatar
    PRAKASH

    iam also facing same problem. maturity date of my FD is 14.05.2012. i had applied for refund on 02.05.2012. but till date not received refund. every time 10-15 days after committment. yesterday talked with CS of company and he committed for refund by 25.07.2012. i will received refund.

  4. Somesh Avatar
    Somesh

    I also had a word with them on 5th July. They promised on 20th July…..I think they are just making fool of people…

  5. Somesh Avatar
    Somesh

    Today if I will call them they will say 25th July to me for sure 🙂

  6. Somesh Avatar
    Somesh

    Avon Corporation look like a fraud company.

  7. ROHIT KATYAL Avatar
    ROHIT KATYAL

    I also made investment in FD of Avon Corp.it matured on 24/05/2012. everytime I make a call they give one weeks time. Last time i was told I will get my money back by 20/07/2012 but today when I tried to call no body is picking up the phone. Can somebody reading this help us get our money back. DONT INVEST IN PRIVATE CORPORATE FD AS ALL OF THEM ARE FRAUD.

  8. Somesh Avatar
    Somesh

    I called them they said they are dispatching the cheque in next 2 days for all investors.. fingers crossed. Please let the forum know in case anybody recieves it…

  9. Vasanthi Avatar
    Vasanthi

    My Avon FD number C002977 matured in May 2012 still not received FD principal and interest amount, doing continous followup with Avond FD section by returning my original FD receipt asking for refund of amount but they are giving false assurance from last month stating amount will be refunded in 2 days but no action from their side. Wasting my money on STD calls dialling them and from last week they are not ready to receive the call as well.

    I have still not received my money today is already 23rd July.

    I expect Avon to return my Principal and interest along with two months extra interest for the delayed refund.

    Why you people are cheating public by keeping their money, dont run your business on sucking free money from public like this.

    If I dont get refund of my amount by today evening along with additonal interest for the delayed refund a legal action will be taken against Avon.

    Thanks
    Vasanthi
    FD NO: C002977

    The lady Geetanjali and Kamalesh are giving false assurances whenever I call dem and not picking the calls from last week, this lady is messaging me back today asking who is dis, instead of picking the call, when I messaged her back that I am FD holder, she is not picking the calls even after dialled her more than 20 times. something wrong is cooking with public money I suspect.

  10. raise a complain in Ministry of Company affairs website. stating that you have not got your refun from Avon
    http://www.mca.gov.in

  11. Can someone give exact link in http://www.mca.gov.in where we can complain. I have now been given a new date of 10 Aug for return of FD proceeds

  12. You can complain in Ministry of company affairs site

    URL

    http://www.mca.gov.in/DCAPortalWeb/dca/EFormDisplay.do?method=getForm&contentId=1021&taskID=9501

    for Avon corp. ltd.
    CIN : L29196MH1999PLC118640

  13. Hi

    I called them today and the lady from FD department told me that the compnay is facing financial issues and the amount could not be seetled for the next 3 months.
    I am sure they cannot settle this amount for next life too.

    Now it is high time to do something, i mean register our protest collectively.
    No use of hearing them. I am raising and MCA complaint too.
    Any ideas on how to clear the mess.
    Please mail me at [email protected].

  14. All

    They even said me the cheque is dispatched and all last month and when i did not recieve yet, i called them today.
    Only on the call, they said that the company is facing financial issue and need atleast 3 months now.
    I m sure that time is used to pack up their store.

    Guys, we are trapped.

    Can i know who else are there in the trap.

  15. i guess MCA does not work

    As per the MCA form ,

    Note: 1. For Non-banking finance companies (NBFC), complaints are to be lodged with Reserve Bank of India (RBI).
    2. For listed or plantation companies, complaints are to be lodged with securities and exchange board of
    India (SEBI).

  16. PRAKASH Avatar
    PRAKASH

    Yes Mr. Verma, you are right. i have discussed this issue with my CA. he guided me to lodge complaint in SEBI or send legal notice.
    yesterday, i received mail from their MD, regarding refund of FD in next 3-4 months.

    is there anyone who can help us. please guide proper procedure to get our refund.

  17. Santosh Avatar
    Santosh

    Having FD on AVON Corp. LTd. maturited in June 2012. I have applied for refund. Whenever I called they gives false commitment of sending cheques. Need help.

  18. Hii All,

    facing the same issue with my FD in Avon Co. talked with some person of the company and he said that the amount will be settled in next 4 month. don’t know if they are making the fool or what.
    What legal action can be taken against them??? if someone is filing any complain against them please let me know and please tell the procedure also.

  19. Mr. prakash do you know the procedure to lodge the complain through SEBI. if yes then can you please guide on the same..

  20. I have filed a complaint with MCA. Waiting for any action from their side. Anybody who has filed complaint with SEBI, please guide on how to do it.

  21. for lodging a complain in sebi the link is :

    http://scores.gov.in/Complaint.aspx?flag=n

  22. SEBI complain does not help. They have replied to me stating complain to MCA which have done. MCA has acknowledged complaint vide letter stating they have raised the matter with the company

  23. I also did not get the AVON FD on maturity, when I called they are saying company is facing cash crunch and will clear all back log in next three months. I have send email to company secrtery [email protected]. should we approach Vivek law, Fight back program.

  24. Raghavendra Avatar
    Raghavendra

    Hi Guys..

    Can anyone update if they received the amount??? is anyone contemplating action. I would like to join up with any one of you who would be planning to.Contact me at [email protected]

  25. Friends,

    All affected, Please send a complaint email every day to this AVON Coporation Ltd company secretary Anita Vyas @ email [email protected]

  26. As mentioned earlier SEBI complaint does not help and have received response from MCA that need to contact Company Law Board,Western Region,Mumbai which am planning to do shortly

  27. Hi Atul,

    did you approach the CLB??? any updates from anyone???

  28. Hi Raghu,

    Pending contacting CLB..will update ..any one achieved any success

  29. Hi Atul,

    can you mail me your contact at [email protected]. We can join forces and take this forward.

  30. I have not received f dinterest due on 01 07 12 & 01.10.12 respectively

  31. did anyone talk to them regarding interest as they said they will settle the amount in 3-4 months, which is over now…

  32. I think stern action should be taken against non-payment of principal and interest. Last, we had received a letter saying the payment will be clear in 3-4 months, its already november, if the payment don’t come, let us join forces and act as a group. By taking the matter with nse, bse, mca, company law board and investor relations, and also file a common group legal case for recovery of dues or ask the company to liquidate.

  33. Dear freinds, i have received letter dtd. 30.10.2012 from avon corpoaration for further of 3-4 months. this shows they have lost business ethics.

    I had approched CLB in October. they given information that by paying fee of Rs. 50 alongwith form no.4, they file case in court and help in getting money.
    I request all to approach CLB and file the case.
    now there is no reason to wait.
    I request all to contact CLB.

  34. hi all,

    here is the process to file the application:

    http://clb.nic.in/FAQs.htm

    it is to be filled by all fd holder, so we should join the force against them..

  35. Awlok Singh Avatar
    Awlok Singh

    Dear All
    Avon is a Fraud Company, thay had looted money of investor in share market by placing GDR and Showing False work done and profit, on that basis thay start FD’s , investor put money in FD also traped, in actual thay use these FD to give loan to other and currently it is also 80 Cr givin in the same of advance to supplier and to him self in the name of opeing a subcidry company.
    Now thay had lost all, close Plant at Badi, also close office in dubai. they are planning to run. i have lost 4 lace

  36. Mr Awlok,

    from where you got all this information???

  37. Hi Guys,
    Has anyone registered their complaint in CLB against Avon Corp??

  38. Any one received their money back?

  39. Kamlesh - investor Avatar
    Kamlesh – investor

    maturity date 12Nov 🙁
    planning for legal action :@

  40. I think we all should get in touch with CLB and file a court case against the company…

  41. V.Sridharan Avatar
    V.Sridharan

    I have also not received interest for July and Oct 2012 quarters. I would also like to join the list of complainants against the company.

  42. Raghavendra Avatar
    Raghavendra

    i raised a complaint with MCA in october and till now i see “Under progress” status since two months. not very confident of that route now. But i urge every one to raise a complaint as we can have a record of it.

    Then we can take it up legally. Could anyone update if they have initiated a legal action???

  43. My financial planner at RR Finance told me that the company has taken extension till March, 13 from court to repay the FD loans. He said Unitech also took similar extnesion few years back and later paid back. I think the best way is to take the legal action and stay positive that we will get the money back.

  44. ARVIND SHAH Avatar
    ARVIND SHAH

    Dear ALL,

    Me and my wife have also NOT received money back from AVON. Looks like there are thousands of people are cheated by AVON.We ALL have to join together and write to COMPANY LAW BOARD. They HELP recover money from company like AVON. If you are interested please email me. Thank You

  45. ARVIND SHAH Avatar
    ARVIND SHAH

    My email is [email protected]

  46. ARVIN SHAH Avatar
    ARVIN SHAH

    My email is [email protected]

  47. Titus Manickam Rock Avatar
    Titus Manickam Rock

    Mr. Arvind Shah, I have already posted my reply to you by email regarding my problem with Avon FD. Kindly let me know if you need any other information. Thank you!

  48. Rohit Katyal Avatar
    Rohit Katyal

    Hi,
    Not received Avon corp ltd Fd Amount after 8 months of Maturity. Made them more than 100 calls but to no avail. Gitanjali of Avon Corp. ltd keep on giving false promises new dates for payment of Fd maturity amount new date given is 5 feb 3013.
    Rohit katyal
    C003031

  49. From:””Fixed Deposit””
    Date: 30 Jan 13 11:30:20
    Subject: RE: Reply to the letter
    To: “awlok singh” , , , , “ashutoshsr”
    Cc: “Company Secretary”

    To,

    Dear Mr/Ms,

    Greetings From Avon Corporation Ltd!!!

    Plz find the below mentioned reply to the query,

    Sir,

    With Ref to your reply, i would like to clear that

    1) You have just informed to public that you get approval to open subsidiary in china, never said you rae going for contract manufacturing through subsidiary:

    Dear Sir,

    We have opened the Subsidiary in China as same informed to Public through BSE now we plan to set up our factory to china in this process many china govt. approval require once we got accordingly inform to Public after board approval but still no contract manufacturing through subsidiary how to we inform.

    2) Regarding closing of production at Baddi, you itself accepted in your letter that production is stop at baddi. which you have not communicated to public. You have also not clarify on CARE Rating document for NCD where is is clearly mention(Page 2 -first para) that you have close the entire manufacturing activity in baddi plant. (Document enclosed):

    Dear Sir,

    Right now as to no govt. benefits to Company at Baddi that’s why production is slow as same acceptance in our letter head yes we plan to closing of production at baddi (as to no govt. benefits) but officially no close once we closed after Board approval accordingly will informed as same confirm to CARE rating document for NCD & in our Balance sheet 11 -12 clearly shown cost of raw material how it’s closed but production is slow.

    3) You have not provided the Use of GDR Money and money raise from IPO if no production is BADDI. what happen to Investor Money:

    Dear Sir,

    Uses of GDR & IPO have declared in quarterly financial results as per SEBI or Listing agreement with BSE

    4) There is also a lot of complain regarding fails commitment to return the mature FD amount from last 8 months:

    Dear Sir,

    As to Fd Complaints we have already reply filled with appreciate authority Registrar of Companies, Mumbai & Company Law Board, Mumbai Bench as your goodselves.

    And Dear Sir we trying hard to settle all matter plz. & request to you stay with us for positive run the company in present with expected raise in future.

    Thanks & Regards,

    Radhika

    CS Trainee

    Avon corporation Limited

    Email Id:- [email protected]

    Website : avon.co.in

  50. dear all,
    today i have called and got reply that Mr. Kamlesh has left the job.
    i have lodge complaint in Zee News Helpline. they are ready to help if all loadge complaint.
    i request all to loadge complaint in Zee helpline from their website. there reply is fast and on the same day.

  51. Meenakshi Avatar
    Meenakshi

    Same problem with my FDs also. No response from them. Plese let me know what needs to be done legally as I have about 2.5l stuck with them. I do not have any faith in their promises. Contacted SEBI and they said that it is not under their purview.

  52. Meenakshi Avatar
    Meenakshi

    Has anyone filed a complaint with co law board? Where can we get the form no 4? I have already surrendered the FD receipts before maturity date, thinking that they will repay on maturity. I do not have have any proof with me.

  53. I have invested a lot of money with them, I have sent them the FD as it was matured in June 2012. Called number of times, they are giveing false responses. Now they are not even picking up the phones also. I think we all need to get together and firm up a plan to get the money back

    Abhijit

  54. I have also trusted Avon Managment based on their past hsitory of not defaulting on their fund commitments. In a new letter dated 10th feb’2013, they have mentioned that they had some issues with Sales TAx department due to which their bank acounts relating to investor accounts like FD and dividend bank have been attached. Even though, it has now been resolved, it now says a similar process need to be carried with IT department. They have now mentioned us to wait till the 1Q’FY2013-14. Well, I belive – this is an another eyewash as they don’t have the money, snce they mentioned that Bankers are not restructuring their loans. Hence, we need to go to CLB and also mention in the media, whether print or visuals, so that they understand the value of our hard earned money.

  55. kavan mehta Avatar
    kavan mehta

    I have also invested in fixed deposit n I have also received any interest from the last two quarters…what should I do??
    Plz help me
    Mail me at
    [email protected]

  56. I also have my FD with AVON that matured in May 2012. Till today i have been chasing them up through phone calls (the number is not functional now) and emails. Every time i get the same reply with a false promise and committment of redemption date that gets postponed. I am planning a legal recourse now.
    -Rohit (email -> [email protected])

  57. Filed a complain to CLB , filled FORM 4 with a demand draft of 50 rupees in favor of mumbai bench office as i belong to MP and it is covered by Mumbai office.

    lets c what happens next.. if every investor will complain to CLB then may b they will take some action, so please fill FORM 4 and send it to CLB.

  58. Another victim.

    Any luck anyone so far?
    I am willing to support any joint effort if that can move the needle towards redressal.

  59. Ramesh Reddy Avatar
    Ramesh Reddy

    They are yet to redeem and send the amt. back.. We are senior citizens from Hyderabad.
    WHy cheat us ?

  60. Abhijeet Avatar
    Abhijeet

    even i have my money stuck , n they just keep on giving dates and even wriiten commitment that they will pay 18% intrest but still no luck n now they dont even answer phone calls. i think we should team up n go to the news channels … pls contact me i am willing to team up n teach these ppl a lesson my mail add is [email protected]

  61. Kalpesh Jain Avatar
    Kalpesh Jain

    Hi,

    I am also facing same issue with my Avon FD.
    I want to redem it and submitted FD 3 months back but till now did not get any thing.
    If some one has the contact number / email address for getting status please share.

    Kalpesh

  62. R.Sridhar Avatar
    R.Sridhar

    Even I have invested in Avon Corporation and it’s two years since my investment matured.But every time the company gives a date to send the interest and principal but they have failed to do so.Lets together do something to get back our money.

  63. Meenakshi Avatar
    Meenakshi

    Rohit- Willing to join you in any legal action that you are planning to take. Only thing is I am not sure whether any legal recourse is available as we are unsecured.

    Pawan- Please let me know the procedure for filing complaint with CLB. From where can I get form 4?

    Ihave about 2.5L stuck with them not knowing what to do about it….I have stopped getting any letters from them..

  64. pavan Avatar
    pavan

    Meenakshi : this is the site where you can find form number 4 . you have to take printout fill it up and send it to your CLB branch with demand draft.
    http://clb.nic.in/reg1991.htm

    any updated news on refund??

  65. Amit Parsan Avatar
    Amit Parsan

    Maturity : 25th June 2012

    I called the number on the FD receipt i.e the registrar for AVON, they said that they are no more registrar for the company. They directed me to Kamlesh Vyas (Avon Company Secretary), earlier the secretary used to receive and say that Kamlesh is in some meeting or away. But now the number seems like disconnected.

    Is there a way to reach out to the company apart from the below numbers –
    Ex-Registrar (022-66712206)
    Kamlesh Vyas (Avon Company Secretary) – 022-66804049/48/21 .

    If somebody has the experience from Company Law Board can they direct us there.
    Since I am from Mumbai, I can pay them a visit.
    If people want to join forces, please mail me at – [email protected]

  66. Amandeep Avatar
    Amandeep

    My hard money is stuck with Avon, my Fd is maturing on 30/06/2013. I send them mail to release my amount electronically. …but I got a pdf letter that they cannot pay rhe amount and told to renew my FD for 1 more year….tell me what to do?

  67. some one from mumbai can directly go to there office and talk to them…they have changed the CEO as per money control news, so with new management is there any improvement…

  68. Rohit Katyal Avatar
    Rohit Katyal

    Will they pay fd money to their FD investors . It is not speculation reason that innocent investors invested money its for fighting inflation. government / sebi should interfere and take strict action against these types of fraud companies and dont let them do any business in india as they will again cheat people

  69. Rohit Katyal Avatar
    Rohit Katyal

    Avon Corp md, ceo and financial accountants should be sent to jail if they dont pay money as this is straight forward fraud as they will open new company and do a fraud like this again their passport should be taken into custody

  70. pavan Avatar
    pavan

    there was some hearing on 28th june 2013 against Avon . anyone has idea about what happened in that.

  71. pavan Avatar
    pavan

    please fill the petition against Avon, it should be fill by each investor as described:

    http://www.investorhelpline.in/ih/General/CLB.HTM#b

  72. Upendra Kumar Saluja Avatar
    Upendra Kumar Saluja

    Non receipt of principal and interest in respect of fdr no. c0005121 for rs.ten thousand only matured on 29.3.2013. Sent hundreds of emails, numerous telephone calls to mr.joshi now mr.ravibhai, mr.pankaj saraiya, cmd, md Bajaj capital limited, new delhi, who recommended such a company for fd. Mr.ravibhai has now promised to send fresh fd after including interest etc. much before Diwali. I have told him to pay the principal amount and keep interest in fd. let me see what happens.

  73. u k saluja Avatar
    u k saluja

    FD No. c0005121 rs.ten thousand only due to be paid back on 29.3.2013.
    Despite sending many msgs., telephone calls to earlier fd manager, Mr.Joshi and now to mr.ravibhai, fresh fdr or refund still not recd. Mr Ravibhai current fd manager atleast once in a while replies to email msgs. but is unable to pay back the money because his bosses are not willing to honour their commitments. Giving excuses for not paying back the money is their way of life. They are enjoying others money without paying back either the principal or the interest amount. No govt. authority of any help. Companies like Bajaj capital ltd. or hdfc who are instrumental in recommending such companies are sitting pretty and are not of much help. Depositors suffering due to high handed ness of such elements.

  74. Anupam Avatar
    Anupam

    What is the way forward – as a group do we have agreement on how to put pressure on AVON to return principle and interest?

    Any luck on form 4 filed at CLB?
    What happened at the hearing?

    Do keep me posted and include me if we need to work collectively.
    Regards
    Anupam

  75. Sumer Chandra Jain Avatar
    Sumer Chandra Jain

    Avon Corporation ltd.have not paid Rs28943/-maturity value of my FD C003042 due 25/05/2014 inspite of dozen cails and half a dozen mails.I have lodged online complaint with Ministry of corporate affairs
    Sumer Chandra Jain
    Mumbai

  76. I have booked 2 FDs on my fathers name in July 2011 both of which are cumulative and maturing in July 2015. I had booked another FD in July 2011 which matured in July 2012. In July 2012, I requested the company to renew the FD for 1 year. In March 2014, I get a letter from the company stating that they have renewed my FD maturing in 2012 till 2016 without my consent as I had asked to renew till 2015.

    Now all your cases are based on FDs that have matured and the company has not repaid you. Since the company is not repaying its depositors now, there is very little scope that the comapny will repay my 2 FDs in 2015 and 1 FD in 2016.

    Can i write to the company and ask them to cancel the 3 FDs and pay me the interest(Which I know they wont pay) but I dont want to wait till 2015-16.

    What are my options to recover money from this company at this moment.

    Any help will be appreciated. If there is any ray of hope , I can take up this matter and assist in filing a case against the company.

    Please contact me at 8149209093 if you are willingly to take any joint action against the company

  77. Anybody who wants to fight against these fraudsters please lets join hands.
    Please contact me at [email protected]

  78. DEEPA ASHWINI Avatar
    DEEPA ASHWINI

    dear sir ,

    i approached your good office at andherio (w) , kamal kunj , 15/B, SV ROAD 400058 WITH REGARD TO SUBMIT MY FDR 0003787 BUT TO MY UTTER SURPRISE FOUND avon corp ltd office sealed by high court dated 11/06/2014.
    i am lost where to approach.
    the fd was recommended by hdfc sec , vashi.

    let join hands and get some way out.
    my mail id is as [email protected].

  79. DEEPA ASHWINI Avatar
    DEEPA ASHWINI

    it seems that they have run away.
    AVON OFFICE AT ANDHERI WEST , 15/B , KAMAL KUNJ , NEAR IRLA BRIDGE , SV ROAD HAS BEEN SEALED BY HIGH COURT DATED 11 JUNE 2014.
    I FEEL THEY HAVE CHEATED US ALL . THEY ARE NOT REPLYING MAILS / TEL CALLS.
    HDFC SEC WHO RECOMMENDED THIS FD NOT HELPING.
    LET US UNITE AND FIGHT.

  80. DEEPA ASHWINI Avatar
    DEEPA ASHWINI

    AVON FD MAIL AS [email protected]

  81. Deepa,
    Do we have any notice number or reference number to the high court order

  82. DEEPA ASHWINI Avatar
    DEEPA ASHWINI

    MY FDR NO IS C003787 AND MATURITY AMT IS 356554.00 , THEIR OFFICE AT ANDHERI IS SEALED BY MCA , BY HIGH COURT ORDER. I DO NOT KNOW WHERE TO DEPOSIT FDR. NEED HELP. PLEASE LET US UNITE TOGETHER AGaINST THIS MASSIVE FRAUD DONE BY AVON CORP. MY FD MATURITY DATE IS 24.06.2014.

    MY MAIL IS ashwinibarnwal.gmail.com , tel 7208192702
    PL ADVISE HOW TO APPROACHED WITH MPID. I AM RESIDENT OF NEW PANVEL , NAVI MUMBAI.
    PROBABLY THEY HAVE PACKED UP. the fd was recommended by hdfc sec, thAt is reason i invested, i did not know that they WILL NOT HELP. THEY ARE ONLY FOR THEIR COMMISION. PL DO NOT TRUST THESE PEOPLE.

  83.  Avatar
    Anonymous

    Aditya Das,

    My FDR no is C002501 and maturity Date was 10-Feb-2014. Their Office at Andheri was Closed.
    Please let me know
    1) Is there any group where I can join and stand against this fraudsters .
    2) Is there any notice number or reference number of the high court order.
    3) how to put pressure on AVON to return principle and interest?

    Thanks & Regards
    Aditya

  84. Aditya Das Avatar
    Aditya Das

    My FDR no is C002501 and maturity Date was 10-Feb-2014. Their Office at Andheri was Closed.
    Please let me know
    1) Is there any group where I can join and stand against this fraudsters .
    2) Is there any notice number or reference number of the high court order.
    3) how to put pressure on AVON to return principle and interest?

    Thanks & Regards
    Aditya

  85. Suresh Avatar
    Suresh

    Can anybody let me know which regulatory body has sealed the Avon ? Is court case registered against Avon , may be by SEBI as company registered & governed by SEBI regulations. We should form a forum to protect our rights. Anybody from us can guide for any legal action against Avon?
    My email is [email protected]

  86. Anupam Avatar
    Anupam

    Dear All,
    I found following details online:

    http://bifr.nic.in/asp/detail1.asp?caseno=57&year=2013
    Case No. 57/2013
    Company name – AVON CORPORATION LTD.
    Date of Last Order – Abated 03/02/2014

    http://bifr.nic.in/asp/sopupload/57_2013_18112013.pdf
    http://bifr.nic.in/asp/sopupload/57_2013_23122013_639.pdf
    http://bifr.nic.in/asp/sopupload/57_2013_322014_639.pdf

    Would appreciate if anyone can through light on this issue related to Avon which may be linked to sealing on office.
    Regards
    Anupam

  87. sandeep Avatar
    sandeep

    I See. I got cheated too. The FDR returned undelivered. Calls not answered etc.
    So now we know we all got cheated and it does not seem anyone got help from
    SEBI or MCA in this regard. Where to complain ? Can a lawer help ?

    Sandeep
    Bangalore , 9886153293

  88. sandeep Avatar
    sandeep

    How a company can run away just like that. Is there no regulation on that.
    Lets use the TV shows ( pehredar etc) . I sent mail but no response.
    And may be HDFC Sec should be answerable too.. for advertising such products.

  89. Upendra kumar saluja Avatar
    Upendra kumar saluja

    FDR No. C005121 dt.29/3/12 for rs.ten thousand only maturity date 29/3/13. FDR sent to company/its registrars through Bajaj Capital Limited, New Delhi for encashment. Despite hundreds of reminders by email/telephone calls to their FD managers, M/s Joshi, Kamlesh and Pandyya money not paid. Validity of FDR extended on their own upto 28/3/2017 without my consent. Money not paid. Company now gone into liquidation as per information recd from Ministry of Corporate Affairs, Mumbai. Petition submitted for which reply recd as “closed”. No one there to help.Senior citizens suffering due to no fault of his.

  90. Upendra kumar saluja Avatar
    Upendra kumar saluja

    Fdr No. C005121 dt. 29/3/12 for one year i.e. upto 29/3/13. Sent to company through Bajaj capital limited, new delhi who were instrumental in collecting a deposit for this fraud company promoted by one Mr.Pankaj Saraiya. Despite hundreds of reminders by email/telephone calls to their FD Managers, M/s Joshi, K.Vyas, Pandyya, no one helped for the last over one year in paying back the money. Extended validity of FDR upto 28/3/17 on their own. Now company gone into liquidation. Petition submitted to Ministry of Corporate Affairs, Mumbai. Status given in response is “closed”. Matter now referred to Prov. Liquidator. Affidavit of debt submitted to Liquidator now. MD Mr.Pankaj Saraiya, Mobile No.09821240619 now not providing any inputs. Earlier also for the last over one year he never responded. Sad state of affairs. Poor senior citizens suffering. No one there to help. Media to kindly help poor people now.

  91. Upendra kumar saluja Avatar
    Upendra kumar saluja

    FDR No.C005121 dt.29/3/12 for Rs.Ten thousand only due for payment after one year i.e.29/3/13 Extended validity on their own upto 28/3/17. Hundreds of reminders sent through email and numerous telephone calls made. Recently Pankaj Saraiya called me back to say that his company has no money and money would come from some Deptt. Since learnt company gone into liquidation and prov.liquidator appointed. Affidavit of proof of debt submitted to Liquidator (through Bajaj Capital Limited who had recommended this company) in the office of High Court of Judicature at Mumbai Ordinary Original Civil Jurisdiction in Companies Petition No. 538 of 2013 at his office in Mumbai. Now waiting for the outcome in due course of time. Senior citizens suffering due to highhandedness and unprincipled approach of such companies.

  92. Upendra kumar saluja Avatar
    Upendra kumar saluja

    RE: AVON Corporation Limited, Mumbai: FDR C005121 dt. 29/3/12 maturity dt.29/3/13 extended validity by company on their own upto 28/3/2017. Despite numerous reminders company did not pay. Now gone into liquidation because of winding up petition filed in Court by a lender. High Court order no.538 of2013. Order No.867 of 2014 passed by Company Law Board also on 20/6/2014 to approach Liquidator, Bank of India Building, 5th floor, Fort, Mumbai-400023 for settlement of claim. Claim filed recently. However, suffering due to high-handedness of company management for their refusal to pay against matured fd on time. Senior citizen and sick person suffering due to no fault of his. Placed in a very sad situation. Prov.Liquidator to kindly help. Thanks.

  93. My case is the same. My maturity date was 02/05/2014. I have yet to receive the amount. When I call nobody is picking up the phone in two numbers (02266804053 & 02266804021) and two other numbers are permanently engaged (02266804049 and 02266804025). This is a company of frauds. The names of the promoters (frauds) are given below.

    Pankaj Pratapsingh Saraiya,
    Rupal Pankaj Saraiya,
    Pratapsinh Kakubhai Saraiya,
    Shantaben Pratapsinh Saraiya,
    Shilpa Rakesh Dhagai,
    Bhupendra L Doshi,
    Rakesh Chatrabhuj Dhagai

  94. They Fd matured in jan 2013 and promised that the company is going thru some Income Tax problems but its seems they just closed there offices and vanished….leaving the investors in debt…
    Now the time has come that the govt should make the directors liable for fraud or make the Fd secure …
    It seems to earn money start a company show some good results , start accepting Fds from public(after necessary permission) and then show losses and close the business…and file for bankrupty
    Directors also know that no one is going to fight the claim in the court, even if the investors fight it may take years to recover…by that time the directors will have enough money of the investors to fight the case…

  95. Upendra kumar saluja Avatar
    Upendra kumar saluja

    Deposit of Rs.Ten thousand only given to Avon Corporation Ltd., Mumbai on 29/3/12 for one year through Bajaj Capital Limited, New Delhi. Original FDR sent to company/its registrars through Bajaj Capital Limited, New Delhi for encashment prior to 29/3/13. They did not pay despite hundreds of emails/telephone calls/follow up by Bajaj Capital Ltd’s reps. They extended validity of fdr upto 28/3/17 on their own and sent fresh fdr. Now company wound up due to non payment of money to its lenders and orders issued by Mumbai High Court. Liquidator appointed. Affidavit of debt submitted to liquidator. complaint filed before Company Law Board, Mumbai online. Status given is “closed”. ROC says to follow up with liquidator. Senior citizens at the mercy of different authorities and suffering terribly. No one there to help. Pankaj Saraiya never responded. Once called back through an oversight and said that the money would be paid back by the concerned departments and he is not in a position to help. All deposit holders must form an association and take up with concerned authorities and file joint complaints to get back their money. People from Mumbai to kindly take initiative and act fast. Thanks.

  96. let’s make a facebook group to share updates, news, orders, etc. & fight jointly

  97. Manish

    No harm in making facebook group, but people should join and keep updating on the same…

    lalit

  98. Please do share facebook link when it is made. I found following information where Avon Corp has been mentioned –
    http://www.businessworld.in/news/personal-finance/should-you-invest-in-corporate-fixed-deposits/1023025/page-1.html#sthash.F2aDfle7.dpuf

    “free of any collateral cover and are treated as unsecured loans, and investors have limited legal recourse in the event of a default. At best, they can approach the Company Law Board. ”

    So we need to collectively knock at Company Law Board?
    Anupam

  99. Anupam

    Now the company law board is not entertaining any claims it has to be filed/complained lodged with MCA ( ministry of Company affairs)..

    What i have got to know is that we have to lodge the claim with High court Mumbai…

    I think now its time that the govt should ask the companies to take the Insurance towards the Fixed deposit as well so that investors money is safe towards that extend

    lalit

  100. we have to file the claim with the high court Mumbai official liquidator, company petition no 538 of 2013

  101. Upendra kumar saluja Avatar
    Upendra kumar saluja

    I had deposited a sum of Rs.Ten thousand with AVON Corpn.Ltd., Mumbai through Bajaj Capital Ltd., New Delhi as per fd no. COO5121 dt.29/3/12 for one year to be paid back Rs.11201/- (together with interest ).Despite numerous reminders by phone calls/email msg. to all concerned on submission of original fd through Bajaj C.L. refund not given. They issued fresh FD No. C010841 showing deposit date of 29/3/12 Deposit amount of Rs.10000/-(Rate of interest at 11.50%)maturity date of 28/2/17 amount payable Rs.17476/-. Lot of people submitted petitions to company law board, Mumbai and MCA but no action taken and after winding up orders issued by Mumbai High Court Judicature matter referred to Liquidator, Mumbai. Claims submitted to liquidator for settlement in July 2014. through Bajaj Capital Ltd., New Delhi. No reply either from liquidator or from B ajaj Capital Ltd., New Delhi. No one seems to be interested in resolving issue. Liquidator should issue notification for benefits of sufferers. MCA/CLB do not reply to msgs. sent to their officials.

  102. Dear Upendra,

    We understand your concern. As the matter is with Mumbai High Court(Official Liquidator), the process takes some time. As per current status, the legal procedures are being followed by the liquidator but the number of pending cases with Mumbai High court is high. Hence, as soon as we get any information, we shall update you on regular basis.

    Regards,
    Team Bajaj Capital

  103. Himani Verma Avatar
    Himani Verma

    Hi, I have invested 1 lakh in this Avon Corporation in May 2011, but till date not got any money forget about maturity amount. Can anybody help me to know what should be the procedure to file complaint against this people. The mentioned number on the bond is either fake or these people are very smart as one old gujrati lady picks up the call and abuses left right and centre and finally I kept the call.please anybody help me.
    I at least need my principal back.

  104. B R U NAYAR Avatar
    B R U NAYAR

    I have invested 2 lakhs in 2011 and still not got refund,please help

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