CFL Capital Financial Services Ltd
Non payment of Interest

Dear Sir,

I had two FDs of Rs 10, 000/- with the company for two years with maturity in the year 2000. Though i have got the maturity amount but the payment has been done in 10 installments with the last being in the year 2010. No interest has been paid for these 10 years!!!On contacting the company has informed that the Company Law Board made a unilateral decision that they will pay no interest to the depositer for these 10 years. I want to know whether the Company Law Board can make such unilateral decisions without informing the investors and if not what is the legal discourse i may take for speedy solution in this case.

Company: CFL Capital Financial Services Ltd
Country: India

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