Sterling Tree Magnum (India) Ltd. — Sterling Tree Magnum TEAKQUITY Plan Fraud - Payment not received

Address:

Tirupur, Tamil Nadu

Dear Consumer Complaints Forum, We invested Rs. 26, 250 in Streling Tree Magnum (STM) TEAKQUITY Plan (for 20 yrs) and bought 21 Teak trees. STM shall plant the teak trees and at the end of maturity period, the investor is benefited with certain returns (mentioned below). As per the agreement, 3 months prior the maturity date, we were to receive a communication from the company about the maturity of the Plan. There was no communication from STM. We tried to contact them, at the head office in Chennai, but couldn't reach through. Now the invested amount has already matured but we have not heard from the company. No one is answering from their end. Please help us get our returns back. You can find the details of the agreement/ investment below - Application No : 024363 Certificate no : L1090 Name of the Buyer/ owner : Hardik Chheda Name of the Nominee : Hina Chheda Purchase value of each Teak tree : Rs. 1275 Total no. of trees purchased : 21 Total value invested : Rs. 26.250 Maturity Period : 20 Years Date of joining the scheme : 31/05/1994 Date of Maturity : 30/5/2014 Maturity Value : Rs. 13, 02, 000 Land entitlement : 223.8sq m / 2408 sq Ft Trees planted at : Sonarayananthal Village, Kalathur group, Tiruchuli Taluk, Tirupuvanam. Awaiting a quick response. you can also contact me on my email id - 88hiral.[protected]@gmail.com Phone No[protected] Mob: [protected] Hiral Chheda c/o Hardik Deepak Chheda 8/12 Kannabiran Colony, B.S.S.Road, Tiruppur Tamil Nadu. 641601