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Prime Retail India Limited - Non Payment of Outstanding Dues

 
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  adarbad on Jan 13, 2012
Dear Sirs,

I write to you in connection with a proposed IPO being floated by a Kolkata-based company called PRIME RETAIL INDIA LIMITED, having it's Head Office at 1/1 Camac Street, Shree Manjari Building, 5th Floor, Suite No 07, Kolkata - 700 016. Mr. Rajiv Chopra is the company's Chairman & Managing Director.

Sirs, I write to you as an investor who has had a close association with this company from January 2008 to November 2010. I have invested my time, my skills, my knowledge, my energies and my contacts for this company to further it's growth prospects. I have worked restlessly, selflessly and honestly for this company. But all my efforts and hard work were never recognised by the Chairman & Managing Director, Mr. Rajiv Chopra.

As per my contract with the above mentioned company, I was to be paid a commission for every high-end luxury brand that I got for the company. To achieve this goal, I used all my efforts and contacts in the Swiss watch world. Thanks to my consistant efforts and hard work and good relations with Swiss watch companies, I managed to get this company 4 (four) high-end brands of Swiss origin. But none of my efforts were recognised by the Chairman & Managing Director, Mr. Rajiv Chopra. The only thing I got from him were insults and bad words. Furthermore, a commission amount of Rs. 6,00,000/- (Rupees Six Lakhs Only) was not paid to me, as per the terms of my contract. When I requested Mr. Rajiv Chopra to give me my commission, which was rightfully due to me, I was insulted by him and told "to get lost"!! Subsequently, he terminated my services with the company in the most unprofessional manner.

In an effort to reclaim my commission amount, I even sent Mr. Rajiv Chopra a legal notice. This was not only ignored by Mr. Rajiv Chopra but he called me and abused me on the phone.

Sirs, I would seek your help, guidance and assistance in getting my money back. Over the period of time that I have been associated with Prime Retail India Limited and Mr. Rajiv Chopra, I have found him to be a person who cannot be trusted, despite all the promises he makes.

I request you to investigate this company thoroughly before any permission to float the IPO is sanctioned. I am sure that like me, there will be many other investors/associates who have lost their money to the unsavory business ethics of Mr. Rajiv Chopra and have no hope of recovering it back.

I solicit your help and assistance in this matter and am hopeful that SEBI will act in a manner it sees best to help recover my outstanding amounts.

Thanking you.
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    Prime Retail India Limited - Non Payment of Outstanding Dues

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