Lok Sabha Question No. 1717 (UNSTARRED), answered on 2017-03-10
Subject: Non-Refunding of Public Deposits
Ministry: CORPORATE AFFAIRS
Asked by: RAM TAHAL CHOUDHARY, PRATAPRAO GANPATRAO JADHAV, CHANDRAKANT BHAURAO KHAIRE

## GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UNSTARRED QUESTION NO.1717

## ANSWERED ON FRIDAY, THE 10th MARCH, 2017 [PHALGUNA 19, 1938(SAKA)]

## NON-REFUNDING OF PUBLIC DEPOSITS QUESTION

1717.     SHRI RAM TAHAL CHOUDHARY: SHRI PRATAPRAO JADHAV: SHRI CHANDRAKANT KHAIRE:

Will the Minister of CORPORATE AFFAIRS

be pleased to state:

- (a) whether the Government has received any complaints of violation of terms and  conditions  in  regard  to  public  deposits  and  repayment  of  these deposits by private companies during the last three years and if so, the details thereof, year-wise;
- (b) the details of action taken against such companies during the said period; and
- (c) the  names  of  the  companies  against  which  action  is  pending  and  the reasons for pendency?

## ANSWER

THE MINISTER OF STATE IN THE MINISTRY OF CORPORATE AFFAIRS          (SHRI ARJUN RAM MEGHWAL)

(a), (b) & (c) :  A total of Twenty six complaints of violation of terms and conditions in regard to public deposit and repayments of these deposits by private Companies were received during the last three years. The details of Companies and action taken by Registrar of Companies and Serious Fraud Investigation Office is at Annexures 'A' & 'B'.

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## ANNEXURE-A

## Annexure referred to in reply to Lok Sabha unstarred Question No.1717 for 10.03.2017 ACTION TAKEN BY REGISTRAR OF COMPANIES

| 2014- 2015   | 1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | M/s Achal Automobiles Private Limited : Complaint received from the deposit holders for non payment of the fixed deposits (i) Sharad Sardeshpande, (ii) Supriya Sharad Sardeshpande (iiii) Mrs Sumedha Rege jointly with Mrs Shudhada Saraff, (iv) Mrs. Prabha Bhise (v) Jayashree Keshav Saraff                                                                                                                                                                                                                         | The company was addressed and there was no response from the company. Default notices were also issued for non filing of the returns to the company and its directors. Company and its directors were prosecuted for non filing of the returns and the same is pending before the Special Economic Offences Court. Report sent to the Regional Director seeking permission to prosecute under section 58A of the Companies Act, 1956. The deposit holders have also filed application before the CompanyLawBoard during the said period.   |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              | 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | M/s Car Source India Private Limited : Complaint received from the deposit holders for non payment of the fixed deposits (i) Sharad Sardeshpande, (ii) Supriya Sharad Sardeshpande (iiii) Mrs. Rohini Kulkarni (iv) Mr. Harish Kulkarni                                                                                                                                                                                                                                                                                  | The company was addressed and there was no response from the company. Default notices were also issued for non filing of the returns to the company and its directors .Company and its directors were prosecuted for non filing of the returns and the same is pending before the Special Economic Offences Court. Report sent to the Regional Director seeking permission to prosecute under section 58A of the Companies Act, 1956. The deposit holders have also filed application before the CompanyLawBoard during the said period.   |
| 2015-16      | 1, Kapil Consultancy Services Pvt Ltd - TS of B/s Done and SCNs issued further                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1, Kapil Consultancy Services Pvt Ltd - TS of B/s Done and SCNs issued further                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1, Kapil Consultancy Services Pvt Ltd - TS of B/s Done and SCNs issued further                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 2016-17      | 1. Kausalya Agro Farms Pvt Ltd - TS if B/S done and notice issued u/s 206(1) reply is awaited from company. 2. Kausalya Management Services Pvt Ltd - TS of B/S done and notice issued 206(1) reply is awaited from company. 3. Vipanchi builders and developers Pvt Ltd -Explanation called from the company, company agreed to pay the matured deposit amount within three months. Complainant informed that the company failed to repay the deposit as promised in their reply. Further action against the company is | 1. Kausalya Agro Farms Pvt Ltd - TS if B/S done and notice issued u/s 206(1) reply is awaited from company. 2. Kausalya Management Services Pvt Ltd - TS of B/S done and notice issued 206(1) reply is awaited from company. 3. Vipanchi builders and developers Pvt Ltd -Explanation called from the company, company agreed to pay the matured deposit amount within three months. Complainant informed that the company failed to repay the deposit as promised in their reply. Further action against the company is | 1. Kausalya Agro Farms Pvt Ltd - TS if B/S done and notice issued u/s 206(1) reply is awaited from company. 2. Kausalya Management Services Pvt Ltd - TS of B/S done and notice issued 206(1) reply is awaited from company. 3. Vipanchi builders and developers Pvt Ltd -Explanation called from the company, company agreed to pay the matured deposit amount within three months. Complainant informed that the company failed to repay the deposit as promised in their reply. Further action against the company is                   |

| 2016-17   | Name of the Company 1.Saramati Estates Pvt Ltd 2.Amrit Projects Pvt Ltd Name of the Complainant 1. Triptimoy Talukdar 2. Shiv Shankar Chaurasia   | Notices have been issued to the companies for making compliance of the relevant provisions of the companies Act and reminders have been sent and the reply of the said companies are awaited   |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Year    | Name of the Company                      | Action taken                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2014-15 | 1. Kuldip Real Tradex Private Limited    | ROC-cum-OL, Chhattisgarh has filed prosecution u/s 206(7) of the Companies Act, 2013 before the Hon'ble Court.                                                                                                                                                                                                                                                                                                                                                                      |
| 2014-15 | 2. Virat Devcon Private Limited          | ROC-cum-OL, Chhattisgarh has filed prosecution for non-filing of Balance Sheet for the year ending 31.03.2015 u/s 137(3) on 03.02.2017                                                                                                                                                                                                                                                                                                                                              |
| 2014-15 | 3. Sourabh Rolling Mills Private Limited | ROC-cum-OL, Chhattisgarh has forwarded a report to the Directorate on 25.08.2016 for sanction of filing of prosecution u/s 74(3) of the Act. With reference to the Directorate's letter dated 04.10.2016, the company has submitted its reply in his office on 06.03.2017 which is under examination.                                                                                                                                                                               |
| 2015-16 | Nil                                      | Nil                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 2016-17 | 1. Shakti Commotrade Private Limited     | The Ministry has forwarded compliant of Shri Girija Shanker received on 17.01.2017 against the various companies. One company M/s. Shakti Commotrade Private Limited is registered with ROC-cum-OL, Chhattisgarh, however, the complainant has mentioned the name of the company only. ROC-cum-OL, Chhattisgarh has asked the complainant to submit copy of complaint/ particulars etc. for necessary action on 25.01.2017. No reply has been received from the complainant so far. |

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## Annexure -B

## Annexure referred to in reply to Lok Sabha unstarred Question No.1717 for 10.03.2017

| Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)                                                                                          | Action taken by Serious Fraud Investigation Office (SFIO)                                                                                                                                                                                                                                                                                                                                                          | Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)   | Action taken by Serious Fraud Investigation Office (SFIO)   |
|-------------------------------------------------------------|-------------------------------------------------------------|-------------------------------------------------------------|-------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------|-------------------------------------------------------------|-------------------------------------------------------------|
| Sr. No                                                      | Name of the Company                                         | Court Case No.                                              | Cause title of the case                                     | Filed U/s.                                                                                                                                         | Name of the accused persons / Respondent                                                                                                                                                                                                                                                                                                                                                                           | Date of filing / Reciving of notice                         | Financial Year                                              | Name& Address of the Court                                  |
| 1                                                           | ABC Indya Networks Pvt Ltd                                  | 70/3/2014 Ct. Cases 523854/20 16                            | SFIO v/s ABC Indya Network pvt.ltd                          | 58A, 211 227,233 & 628                                                                                                                             | ABCindia Networks Pvt ltd Inder Preet Singh Aman Preet Singh Chander Kant Garg                                                                                                                                                                                                                                                                                                                                     | 21.03.2014                                                  | 2013-14                                                     | ACMM (Spl. Acts) Tis Hazari Court, Delhi                    |
| 2                                                           | Saradha Gardan Resort &Hotel Pvt Ltd                        | 1540/2015                                                   | SFIO VS SGRH P Ltd &Ors                                     | 58A                                                                                                                                                | Saradha Gardan Resort & Hotel Pvt Ltd, Sudipta Sen, Subhhojit Sen, Hemanta Pradhan                                                                                                                                                                                                                                                                                                                                 | 12.03.2015                                                  | 2014-15                                                     | CJM Alipur, South 24 Parganas, Kolkata                      |
| 3                                                           | Saradha Tour &Travels Pvt Ltd                               | 5451/2015                                                   | Aloke Kumar Bardhan vs Saradha Tour &Travels Pvt Ltd        | 58A, 211, 628, 209, 217, 227 rw 233                                                                                                                | Saradha Tour &Travels Pvt Ltd, Sudipta Sen, Subhojit Sen, Debjani Mukherjee, Sunil kr Guptaroy                                                                                                                                                                                                                                                                                                                     | 28.09.2015                                                  | 2015-16                                                     | CJM Alipur, South 24 Parganas, Kolkata                      |
| 4                                                           | Unigateway 2U Trading (P) Ltd (Unipay Group)                | 4944/2016                                                   | SFIO vs Unigateway 2U Trading (P) Ltd                       | 58A, 150, 151, 159, 161, 193, 209, 210, 303, 307, 372A, 240, 628, 629 of CA 1956 and 177, 181, 403, 405, 406, 409, 420, 379, 381, 120B of IPC 1860 | Unipay 2U Marketing P Ltd, Unipay 2U Production P Ltd, Unipay Creative Business P Ltd, Unigateway 2U Trading P Ltd, Goindex Tours &Travesl P Ltd, Mugundan Gangam, R.K. Vetrichelvan, Sellathurai Baskar, P Jayprakash, Subramanian Kanagalingam, Chelladurai Amalraj, A.R. Holla, R Vinod Kumar, B Chinnapa Gowda, Venkateswaralu Kanakala, Karunas, Prashant Roy, Siddharth, Siddharth Das Gupta, Apu, Santhosh, | 29.04.2016                                                  | 2016-17                                                     | ACMM court, Bangalore                                       |

|    |                           |             |                                    |                                                                                                                                                                                                                        | Adil, Arvind Kumar Singh, Roshan Robert D'Souza, Raghvendra Rao, Abdul Sathar, Manoj Kumar Sreedharan, Rajeev Jose, K.A.Abdul Azeez, Thomas, Rabi Shankar, Ravi Shankar, B.K. Dash, Kamal K Bakshi, Kuldeep Singh, Prenona Marketing, Mahesh Kumar, Rajesh Kumar, N.K.Garg, A Naina Mohamed, Zubairul Thameem, Syed Pakkir, Mohamed Habeebullah, Abul Hasan, A. Seeni Mohamed, N.Ahmmed Basheer, Vishal Pratty, Reena Pratty, Shella Kakkar, Amit Kakkar, Tanya Arora, Mohammaed Sadab Alam, Pranab Jyoti Barman,   |            |         |                             |
|----|---------------------------|-------------|------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|---------|-----------------------------|
|  5 | Paramount Airways Pvt Ltd | 173 of 2016 | SFIO vs Paramount Airways Pvt Ltd. | 68, 628, r/w 211(3) &(3C) 211 (1) r/w 1,2,18,19, 26,212,21 7(2),(2AA ) and (3), 240(3) 629, 253 &266A C.A 1956, 277 r/w 233, C.A 1956, 34,420 r/w 120B of IPC 403,405,4 06 r/w Sec 120B& 409, 403, 406, 409, 120B, IPC | P Ravichandran MThiagarajan Lakshmi Murugesan, E R Gurubalachandran, C Periya Karuppan, Kamala Thiagarajan, Ponnusamy Vijayaraja, Thangaraj Jeyakumar, N Visvanathan, A Zahir Hussain, Ram Murugesan, Paramount Airways Pvt Ltd, Paramount Mills Pvt Ltd                                                                                                                                                                                                                                                            | 02.11.2016 | 2016-17 | ACMM (EO-1) Court , Chennai |

|    |                                                                                                                                                                                                                   |                       |                                           | 464, 465, 471 & 120B of IPC 177 &181 of IPC                                                |                                                                                                                           |                                                                                                                                                                                  |                                         |                                               |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|-------------------------------------------|--------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|-----------------------------------------------|
|  6 | Catmoss Retail Pvt Ltd                                                                                                                                                                                            | Ct. Cases 127/2017    | SFIO vs Catmoss Retail Pvt Ltd and others | 58A, 211, 227, 233, 628 of CA 1956 and 449 of CA 2013 and 193, 420, 477A, 120B of IPC 1860 | Catmoss Retail Pvt Ltd, Ashwani Chawla, Asha Rani Chawla, Reena Chawla, BL Gupta (CA), Deepak Ahuja, Ramehs Chandra Jain. | 13.01.2017                                                                                                                                                                       | 2016-17                                 | District and session Judge, South west Dwarka |
|  7 | I-Core Group of Companies. Out of 12 group companies, 4 are Pvt. Ltd. Companies, Which are: 1. Icore Apparels Pvt. Ltd. 2. Icore Paints Pvt. Ltd. 3. Icore Iron &Steel Pvt. Ltd. 4. Icore Super Cements Pvt. Ltd. | 01.05.2013            | 04.09.2015                                | 21.03.201 6                                                                                | 2015-2016                                                                                                                 | 58A, 628 / 211(1), 209(a)(b)© (d)(e), 75(4), 150, 211(7), 209, 227 r/w 233, 372A, 295, 233, 198 r/w 309, 211(3A), 1S2, 211, 133 of CA 1956 and 477A, 420, 120A, 120B of IPC 1860 | Filing of prosecution is under progress |                                               |
|  8 | Goldmine Food Producto Ltd (GFPL) and its 8 group companies. Out of 8 group companies, 4 are Pvt. Ltd. Companies, Which are: 1. Goldmine Height Pvt. Ltd. 2. Goldmine Hotel& Resorts Pvt.                         | 29.10.2015 22.09.2016 | 30.09.2016                                | 27.02.201 7                                                                                | 2016-2017                                                                                                                 | 58A(6), 211(7), 211, 628, 227 rw 233, 166, 159, 150, 152, 196, 301, 303, 307, 372A(5), 209(1), 220 rw 217, 217(6)& (7), 542 of CA 1956 415, 420 rw 415, 418 of IPC               | Filing of prosecution is under progress |                                               |

| Ltd. 3. Goldmine Advisories India Pvt. Ltd. 4. Goldmine Health Care Pvt. Ltd.   |
|---------------------------------------------------------------------------------|

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