Birla Power Solutions Ltd. — FD Interest
I purchased Fixed Deposit from Birla Power Solutions Ltd. on 31/05/2012. Interest was due on 30/09/2012 but I don't received any interest warrant till date. I contact to their agent M/s Adroit Corporation Services Pvt. Ltd. and Mr. Praful & Mr. Sandeep informed me that they have no instructions from BPSL to release interest warrant.
I also try to contact Birla Power Solutions Ltd. so many times and after lot of effort on 28/11/12 Mr. Santosh attend the phone and assured that interest would be release by 15/12/2012. On 21/12/2012 I talked to Mr. Santosh again and now he says that interest will release by 15/01/2013 but this time again he didn't committing the due date. I also mail to Sr. Executive Mr. Ashish from BPSL on November 26, 2012 but no revert so far.
This is very unfortunate and unbelievable that a group like Birla (Yash Birla Group) don't have funds to pay even interest, how they would refund principal amount? I'm worried about. Investors from all over India investing in Birla's FD because this is a matter of trust. Birla Power should realise that and arrange interest to their FD investors immediately.
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Birla Power Solutions Ltd - Non receipt of principal and interest on Birla Power solutions Limited FD