Company in its prospectus dated 29.09.1993 had promised the payments of Rs.1, 11, 000/- at the end of the maturity period of 20 years on the discounted Bonds of Rs. 3, 600/- which was duly guaranteed by the Government of Gujarat.
The Government of Gujarat and the Company, are thus stopped on the principle of promissory etop from seeking to resile from the contractual obligations under the DDBs as also under the guarantee by the Government of Gujarat.
DDBS were listed on 10 stock exchanges and were traded at a price higher than the redemption price prior to the enactment of the impugned Act.
Pls help us to get our dues of Rs. 1, 10, 000/- now at the the maturity of DDBs after holding period of 20 years, guaranteed by the Government of Gujarat.
We are not ready to accept premature redemption of DDBs at Rs. 50, 000/- each on 10.01.09.
Otherwise also once we will accept Rs 50, 000/- balance amount will remain unpaid and will never be paid because it will be treated as we have accepted their terms and conditions of no claim of Rs 1, 10, 000/-
It is a intentional financial offence and must be treated as cheating with Melafied intention bu Government of Gujarat against retail investors.
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