[Resolved]  Cinema Capital Venture Fund — non-refund of invested amount of rs 2, 50, 000/-

Address:

Ahmedabad, Gujarat

I had invested Rs 2, 50, 000/- (1st premium) in Cinema Capital Venture Fund Scheme 1 in 2008. Unfortunately I had not been able to pay the rest of the premiums ( total investment of 10 Lakhs) because of personal Financial problems caused by the 2008 stock market crash. I requested them to give me back the refund of the Rs 2, 50, 000/- which has been with Cinema Capital Fund for the past 6 years. But they give me the reply that since I did not pay them the promised total of Rs 10, 00, 000/- (Ten Lakhs) i will not get back my initial investment of Rs 2, 50, 000/-. When I was told about this Fund by the Fund Managers of ICICI Bank, I was told that if for any reason, I am not able to pay all the installments then they will find some other investor on my behalf. But when the Stock Market crashed in 2008, no investor was ready to part with 10 Lakhs. I have complained to SEBI via complaint no: SEBIP/MH14/0006433/1, but they left it to Cinema Capital Fund to decide. SEBI is also involved with these Venture Capitalists to cheat unsuspecting investors. They have not even answered my question, as to why they did not take the full amount of Rs10 Lakhs in one go, when I had that money. I think they did not reply, because the answer would be that : If they take the money in the first installment then there will not be any scope for anyone to default on future installments and they will lose out on earning easy money. I have lost my hard earned money, not only in the stock market but also by investing in this Capital Venture Fund. That is why i would like to advise everyone through this Forum not to listen to any Fund Managers and put your hard earned money in Fixed Deposits and get "Small" but "Guaranteed" returns.