Free internet-based helpline for investors

Mumbai, Mar 25: A free-of-charge internet based service, www.investorhelpline.in today announced that they would assist investors in finding redressal for their grievances.

The initiative has been sponsered by Investor Education and Protection Fund, Government of India's, Ministry of Company Affairs, an official statement said.

The initiative has already succeeded in helping 28 depositors of Lloyds Finance Ltd get their money back. It got Khatau Maknji Spinning &Weaving Co Ltd to repay the principal amount of Fixed Deposits, got SIL Business Enterprises Ltd, formerly Snowcem India Ltd to agree to repay its creditors once the scheme for settlement of dues is accepted and approved by Board for Industrial and Financial Reconstruction (BIFR), the statement said.

Besides, it has also compelled Duncas Inds Ltd, a BIFR case, to determine the remedial measures it would adopt for the rehabilitation of the company including recommencement of the fertilizers operations and schedule for payment of dues of the deposit holders.

It further claims that DCM Financial Services Ltd has submitted a comprehensive scheme before the Delhi High Court for restructuring its debt. Escorts Finance Ltd has appointed a Special Committee to find the necessary mandate for paying its creditors, F D Depositors/ Bill Discounting scheme.

Besides, Dee Pharma and Paam Pharmaceuticals are now under liquidation under the control and supervision of the official liquidator whereas Devidayal Inds Ltd is under the scanner of BIFR and is not in a condition to pay dividend to its shareholders, the statement added.

UNI