[Resolved]  Morepen Laboratories Ltd — Non receipt of Repayment of FDs

kindly note that we had deposited Rs. 36,016 for a period of one year as per the details given below:

Deposit:1
Name:Chirag B. Mehta & Nimit B. Mehta
Deposited AmountRs. 18,008
Period 1 Year
Interest Rate 11 %
Amount of Maturity Rs. 20,072
Date of Maturity 12/10/2002

Deposit:2
Name:Nimit B. Mehta & Chirag B. Mehta
Deposited Amount Rs. 18,008
Period 1 Year
Interest Rate 11 %
Amount of Maturity Rs. 20,072
Date of Maturity 12/10/2002



Even though both of these FDs had been sent for the repayment in Octomber 2002, we have not still received any payment from you.

As per our knowledge, Company Law Board (CLB) has already passed the order for repayment of FD in a scheduled manner to all FD holders that all deposits of Rs.5001 to Rs.20000 should be paid within 4 years from the date of maturity at 20% in the first year, 20% in the second year, 20% in the third year and balance 40% in the fourth year. The interest for both pre & post maturity should be paid along with the last installment.
Since the date of maturity for both of our FDs is 12/10/2002, we understand that full amount of maturity along with the interest for post-maturity has to be paid by you before 12/10/2006.