Sterling Tree Magnum (India) Ltd Complaints & Reviews

Reference : Application No. : R64397, R64283 ( 2 trees each), Certificate No. I 18619, I 18620 issued in the name of G Praveen and G Pradeep, 237, Sri Venkateshwara Buliding, Rangaswamy temple Street, Bangalore-53 for 4 no of trees.

Date of Joining: 21/3/1996, Date of Maturity: 20/3/2016

Dear Sir,

This is to inform you that we have invested Rs7100.00 against the cost of 4 ( Four) Teak trees planted at PUDUKILUVACHI, kalyar Koil, Sivaganga Taluk, Pasumpon muthuramalinga Thevar District, Tamil Nadu of
STERLING TREE-MAGNUM (INDIA) LIMITED
OLD NO.21, NEW NO.2, 1ST STREET VISWANATHAPURAM,
RANGARAJAPURAM,
KODAMBAKKAM CHENNAI
Chennai TN 600024

As per the Extended Instalment Plan Teakquity Certificate given by the firm the first Interim returns Rs. 6300/- due on after end of Six Years and Second Interim returns Rs. 26000/-due after end of 12th Years & after maturity value end of 20th year Rs. 3, 90, 000/-

But till today, we could not get the first & second interim returns / payment
The letters addressed to the firm is returned as addressee not found.

Hence I kindly request you to take action on the firm.

Your early action is highly appreciated.

Yours Faithfully,

G Praveen
G Pradeep
648, 6th main, ISRO Layout
Bengaluru-560078

.

Land Owner's Teakquity Certificate Details Date of joining----28/02/1995 Maturity date----27/02/2015 Application no[protected][protected]G 146740 Certificate no[protected][protected]A5005 Name of owner[protected][protected]Mrs. Sudha J Sarma Name of nominee[protected]--------Mr. V. Jayakumar Sarma Nominee's relationship[protected] Husband All returns to be paid to[protected] Sudha J Sarma %age----100% No. Of teak trees owned[protected] trees Quantity of teak guaranteed[protected].06cu mt per tree.+2420 sq.Ft of on maturity land +interim returns given below. Guaranteed returns[protected][protected]interim return of rs.24500/= on 27/02/2000 2)interim return of rs.110000/= on 27/02/2007 3)maturity value of rs.1440000/= on 27/02/2015. 4) 2420 sq.Ft of land. In spite of repeated letters and reminders company failed to pay me the guaranteed returns and register the guaranteed plot of land in my name. Thus the company has duped me of my hard earned money. Hence this complaint for your redressal.

Sterling tree magnum marketed so much for their TEAK tree scheme virtually forced to invest for the same . I invested for 2x trees and the returns after 20 years was promised as Rs. 144, 000/-. Now I am trying to get in touch, but am not able to get any of their contact numbers and on visiting personally have been told that they have closed down and gone from their registered address . who can help to trace and take the company for task?????

This has reference to subjected matter, i was allotted one teak tree for rs.1825.00 on 11.03.1996 and to be matured on 10.03.2016.
As per the different clauses of these scheme you have to pay us;

A. Ist interim return due on 10.03.2002 and to be paid by 10.03.2003.

B. Ii interim return due on 10.03.2008 and paid by 10.03.2008.

C. Final return by 10.03.2016.

In our case we have not received this due amount to be paid by 10.03.2002 till date.

This has reference to subjected matter, i was allotted one teak tree for rs.1825.00 on 05.05.1997 and to be matured on 04.05.2017.

As per the different clauses of these scheme you have to pay us ;
A. Ist interim return due on 02.10.2002 and to be paid by 01.04.2003.

B. Ii interim return due on 02.10.2008 and paid by 01.04.2009.
C. Final return by 02.10.2016
In our case we have not received this due amount to be paid by 15.11.2015 till date.
Thanks
Kewal krishan dhiman

Address of the Company:
Reg Office: 154, Eldams Road, Taynampet, Madras: 600018
New No. 2, Old No. 21, Viswanathapuram, 1st street, Rangarajapuram Main Road, Kodambakkam, Chennai 600024.
MD. Mr. Subramaniam.

Sir,
I invested Rs.1950 in Sterling Tree Magnum (India) ltd., in 1992 and they promised to repay the maturity amount in 20 years. However, they have not paid any amount till date for the past 23 years.
I haven’t heard anything from the company after multiple follow-ups. I request the consumer court help in fighting the case. I request the court to help in getting the money back for my current needs. And also request the court to create awareness among people about such companies.
Thank you for your help.
Suryanarayan
[protected]
Bangalore

I had invested Rs.2550/- in STM on 31/05/1994 and the maturity date is 30/05/2014. The details are below, purchase value of teek tree - 2 Nos - 1275 x 2=2550, date of joining - 31/05/1994, date of maturity - 30/05/2014, Application No: U23439, Certificate No:E5189, Name of the owner : S.Ajmal Khan, Name of the Nominee : A.Mehraj Begum Whether I would get back my money invested?Whether the insurance company who guaranteed the teek wood plant scheme will pay back any damages? Any have will get information please contact me. S.Ajmal Khan, 30, Pallivasal St, Near Nellaiappar middle school, Vadakarai, Periyakulam(PO), Theni (Dt) -625601. [protected]@gmail.com

My father purchased two teak tress on my name on 11/03/93 and it is expired on 10/03/2013, as my father health is not well he dint reminded me about this just today i came to know about this i didnt got any prior informatrion about this from the company i want to know the status of my purchase, A. SAI SANKETH S/O A. SRINIVAS MOB NO= [protected]

I, the undersigned, herewith most humbly and respectfully posted the Option form on[protected]. But as on date there is no response from your office side. My self and my sister named Vachanabushana Somya, Certificate Nos. 1) F 9917 2) K 33972 are invested the amount in your esteemed Organization. Kindly inform me the further returns positions, due to the completion of 20 years term. If we get any reply from your side, we will be very thankful to you. Hoping the early response / reply from you to the under mentioned address. T. DILEEP KUMAR H.No. 1-1-33/101 Chaitanyapuri Colony NIT Post – 506 004 Dist. WARANGAL (A.P.) Cell No. [protected] Mail ID: [protected]@gmail.com

Hi, I had purchased Teak tree offered by Sterling Tree Magnum India Ltd in the year on 29/08/1995 paying Rs19525 (Certificate number H561, Application No.D322946) in the name of Sunita Jaiswal. As per the certificate company shall be responsible for growing, maintaining the tree for 20 years and handover the tree or the applicable amount at the time of maturity. Now the company has become totally untraceable. Kindly help me in letting know if the company is still existing and whom should be contacted in this regard. Reach me at Sunita jaiswal; [protected]; jaiswal.[protected]@gmail.com

Till Date I have not received my Investment Money on STM: Certificate No I 18529 Application No. D 315189. My Date of joining the STM Sterling Tree Magnum India Ltd is 30.06.1995. Date of maturity is 29.6.2015. Investment Amount is Rs. 3550/- . My email : address is [protected]@gmail.com.. Planatation is made at: ALANDURAI PLANTATION IN THONDAMUTHUR. COIMBATORE DISTRICT, TAMILNADU STATE.

Sir, I have invested Rs.1775/- in Sterling Tree Magnum (India) Ltd., on 18/07/1995 and its maturity date is on 17/07/2015. They have promised to repay the first interim returns amount on 17/07/2001 and second interim returns amount on 17/07/2007. As per the promise, they have not given any amount till date. They have misguide the people. I request you to please look into the matter and include my name in the defaulter payment list and arrange to send me the hard earned money immediately from the company. Rajinder kumar Registered Address: COAL INDIA LTD. 402 ANSAL BHAWAN 16 KG MARG NEW DELHI-110001. Present address: B-226, MIG Flats, Phase-4, Ashok vihar, Delhi-110052. Contact No.: [protected],[protected]

I M.Kasi Rao, purchased teak tree worth Rs 975 on 2.06.1992. The date of expiry of the scheme is 1.06.2012. Due to some reasons, i couldn't see the certificate, but last night, i am able find the certificate. As per rules in the certificate, i am suppose to get Rs 62500 by selling the teak tree alloted to me. If i have not claimed for three years i, e 01.6.2015, the amount cannot be returned. As still 15 days is pending to complete the period please try to help me in resolving the issue. I will be very much thankful to you if you settle my issue. MY details are as below: M.kasi Rao. H.No. 69-7-2/4, Rajendra Nagar, Kakinada -East Godavari Dist. Andhrapradesh Pin code :533003.

I had purchased three Teak Tree worth rs.1825/- each on 28.04.1997 and 06.08.1996. The maturity dated was 27.04.2017 and 05.08.2016, but as per company, i have not received any midterm's return or heard anything from company. the brief detail is as under: Name of the owner: Pradeep Kumar Nayak and Alalakananda Nayak No. of teak trees: 03 Application No.P530107 and A 103675 Certificate No.J 13215 and P 158 My latest address is as under: Pradeep Kumar Nayak (ARMY) At: H . L . O. Colony, Near Advocate Mr. S M Panda PO: Sambalpur Town Dist: Sambalpur - 768001 Odisha Mail ID :- nayak.[protected]@gmail.com

I had purchased two teak tree from STM in the Year 1994 in Name of My Daughter Neha Mehta The Application no. is G107299 and Certificate no. is D1382 The Maturity Date was Sept.2014 Many Corresspondance no reply, no response, no information please help me refund my invested money with upto date interest. I will be very thankful to you. Thanks and Regards Jawahar Lal Mehta A-112, Nand Ram Park, Uttam Nagar, New Delhi-110059 Mobile no. [protected] mail id no. [protected]@gmail.com

My name is Aparna Sexana i took two certificates from you, application no.- R 97490 dated 30/05/1996 application no.- D0190564 dated 22/04/1997 First certificates purchase value was Rs.1775 and Second certificates purchase value was Rs. 1825.00 Returns for both the certificate were due on 2008 and 2009 respectively. But to my disaapointment, I haven't revieved any of the amount which was to be paid to me. I request you to please provide me with the necessary information. Kindly reply with a positive response, Thankyou.

Hi Sir, I Have Invested Amount For two of the TEAK TREE'S in STerling Tree Magnum Ltd (STM), Chennai i was expecting returns on my investment, and as i could not find any COntact from Company, and how could i get the promised returns, kindly do the need full Thanks, VAIBHAV [protected] vaibhav.[protected]@yahoo.com

My father Madhava Rao had purchased a teak tree for the worth of 1475 in 31/12/1994 with the application no: K408471 and certificate no: F13365 which matures at 30/12/2014 and it was planted at parvathipuram, but still now no payment received so whom to contact. My mob no: [protected] Mail id: hharikrishna.[protected]@Gmail.com Plz help me

Sir, I m.vijayendra s/o m.srinivasulu resident of hyderabad purchased STM easy retirment teakquity certificate on 30/6/1994 for 9 teak trees at the rate of 1475 each. i payed Rs 13245 at a time, Now the meturity Date is 20/62014 i request the refund the maturity amount immediatly the detailed address is given below.. M.vijayendra, S/o M.srinivasulu h.no:2-3-35/3, 6 no x road, bagh amberpet, hyderabad, Telngana.-500013....

I HAD PURCHASED 40 TREES UNDER THE TEAKQUITY SCHEME OF STERLING TREE MAGNUM (INDIA) LTD IN 1995(TEAQUITY CERTIFICATE NOs.G 2799, Q 6866 ANDJ 6127) AND I WAS PROMISED RETURNS OF OVER 35 LAKHS BY 2015.BUT DESPITE REPEATED FOLLOW UP AND PERSONAL VISITS TO THE COMPANY OFFICE, I HAVE NOT RECEIVED A SINGLE PAISA FROM THE COMPANY TILL DATE. I HAVE NOW COME TO KNOW THAT THEY CLOSED THEIR CHENNAI OFFICE. I HAVE BEEN CHEATED BY THE COMPANY. PLEASE...

Would you please give the status of the caseand when will the consumers get their hard earned money. Also give the details of the contact address and contact person's name in each area to enable all to get the details. or atleast publish the details of the case in the leading news papers in all the states to enable the consumer to know the status Varadarajan...

I had purchased FIVE teak tree worth rs.6720, on 23/11/93 and its maturity date is 22/11/2013 with assured mid term payments. However neither has ant mid term payment been made nor has there been any communication from the company.

I expect a note from the company giving details of the current status along with the interim payments promised at the end of the 6th and 12th year.
Please help me.
my email: [protected]@yahoo.com

Hi i am from bangalore and i have purchased the streling trees in the year 1993 and my maturity date was 18/11/2013. Which was already matured the the vale is now 682000.00
I come to know that sterling company did fraud with all investers and now this case was filed in chennai court .I need to know about the court preceedings and next date for preceeding ...

Please provide me information regarding this matter and oblige.

Dear Sir, I have purchased Five Teak Tree on 30/11/1993 in my daughter's name Akshatha vide their Application No. T 48222 and Certificate No. E3741 issued by the STM on 31/03/1995.The maturity date of the agreement is 29/11/2013. As per the terms Co. supposed to make Interim returns and maturity payable. I have tried my best to locate their address ( address mentioned in the certificate is now changed as confirmed by one of my friend). There is no response from the company. My Present Residence Address : K.Chandrashekhar Nisarga, Kalyangad ramdas Nagar PO Kasargod Kerala 671125 Tel: [protected]

Since 1994 the year of investment of Rs.24, 000.00 in Sterling Magnum, no reliable news has come, barring some court cases against the company. I am still in dark whether the company has its operations today or has followed an "amassing wealth and melting away policy" like JVG etc.Meanwhile the only document of the payment of earnest money has been stolen from me in 2001, when some valuables were looted from my house at my native...

I purchased a teak tree @ Rs, 1775/tree on[protected] from Sterling Tree Magnum(india) Ltd incorporated under companies act 1956.Head office Divyaa 8A, Murreys Gate Road, Alwarpet, Madras 600 018. My application no is J 506789.Maturity date 29/9/2015. Certificate no is K 7305 Please inform me about present status of this project. Whether I would get back my money invested?

SRINIVAS
[protected]

I had purchased Future Assurance Teak equity in 1995. I was assured interim returns in the 6th and 12th year. I have tried to call up the phone number given in the certifiate for no response. My certifiate number is J507685 purchased on 26th June 1995. Till now I have not received any interim returns. Please help us in this matter.

I RM. Nachiappan have purchased 2 Teak trees each Rx.1775 on 29/03/1996 under Easy Retirement TeakQuity plan. Based on the Easy Retirement TeakQuity certificate provided by the company First Interim returns of Rs.3150 will be payable at 28/03/2002 and Second Interim returns of Rs.13000 will be payable at 28/03/2008. Till Now I've not received a Single Rupee from the company. I've attached the scanned copy of my Easy Retirement...

Dear Sir,

My father has purchased 15 Teak Tree on 15/07/1994 in my name: Chinmay Kumar Mohanta vide their Application No. W 11418 and Certificate No. B 7050 issued by the STM.

As per the terms Co. supposed to make Interim returns payable end of 6th Year and second Interim returns end of 12th Year.

The maturity of the Policy is going to happen end of 20th Year, i.e. 14/07/2014.

I have tried my best to locate their address.

There is no response from the company.

I would like to help me getting back the money invested along with the return

My Current contact number is: [protected].

Current Address:
Chinmay Kumar Mohanta
No: 539, 2nd Floor,
12th Cross, 8th Main,
J.P. Nagar, 2nd Phase,
Bangalore - 78

- Purchased stm teakquity certificate bearing no, J -18974 on[protected] which will mature on[protected] in the name of Manoj Kanta Panda.The 1st and 2nd interim returns were overdue on[protected] and[protected] respectively which were not been paid till date. - Purchased stm teakquity certificate bearing no, J -18947 on[protected] which will mature on[protected] in the name of Soma Panda.The 1st and 2nd interim returns were overdue on[protected] and[protected] respectively which were not been paid till date. - Purchased stm teakquity certificate bearing no, J - 567 on[protected] which will mature on[protected] in the name of Manoj Kanta Panda.The 1st and 2nd interim returns were overdue on[protected] and[protected] respectively which were not been paid till date. - My address is A- 202, Noble Greens Apartments. Jayadev Vihar, Bhubaneswar. Odisha. 751013 and my mobile no. is [protected].

I have purchased 7 Teak Trees (on my daughter's names) in Sterling Tree Magnum (India) Ltd.'s Teak Equity Plan 0n 30/04/1994. They issued a certificate on my application U20557 & U20559 and its Certificate Nos are:E5791 & R1103 respectively.

They are supposed to give me some amounts in 6th Year, 12th year and in 2014 on the completion (maturity) of this plan.

Seems they closed their Office and there is no communication or no payment. Could you please confirm whether this Company is a part of Strerling Group?

But, so far nothing has been received and they really cheated the middle class Indian families who trusted and having hope to give a future to their families. I request the Authorities to take appropriate responsibility to identify this fraud; what it is doing to better prevent fraud, or at least detect it sooner; and what process is in place to investigate fraud and take corrective action to protect the hopes and dreams of POOR and Middle class people of India must get justice.

Kindly do the needful who needs your kind help in this regard. Please do not hesitate to contact me on [protected]@yahoo.com

Thank you in advance.
Sheeba