[Resolved] MPS Greenery Developers Ltd — CHEAT OF MONEY | |
Dear Sir This is to inform you that i had five Orchard Bonds ( Rs 20000.00each) of MPS Greenery ltd, Due to my sister mirage I was withdraw the amount after thirteen month later of deposit. But the time of premature they deduct 32700.00 rupees as Agent commission ( I was paid the amount helplessly ), Which was not in terms and condition. I submit my complain in SEBI ( Date 28/03/2008, 22/08/2008, 6/10/2009 ) and Lake town Police Station (date 15/02/2008 ) but getting no result. Hope you will help me. Please let me know how I get my money back with interest and compensation. Presently I pay very high interest against the amount. Thanking you Somnath Dutta Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved customer support has been notified about the posted complaint. | |
 94 Comments | |
Comments
All Agents are talking big.
Who is MPS founder Manna?
MPS Group chairman Pramatha Nath Manna, who is pushing 60, is perhaps the most experienced in building businesses with rural household savings.
He was linked to Satadal Savings and Investment (India) Ltd, a firm founded in 1982 in a cubbyhole of an office outside the railway station of Panskura—a small town in the then undivided Midnapore district—allegedly as a director.
In 2004, he was detained along with at least four others by the Criminal Investigation Department (CID) after it failed to repay depositors.
Satadal Savings collected money from across homes in Midnapore district until it went bust in 1997. Some 15, 000-16, 000 field agents were made redundant; hundreds of thousands of depositors weren’t repaid.
By the time they formed an association and filed a complaint with the police in 2002, alleging that the directors of Satadal Savings had made off with at least Rs.50 crore, Manna had founded the MPS Group and restarted taking money under collective investment schemes (CIS).
His businesses were now based in Jhargram, not far from Panskura, where he started.
“I was only an employee of Satadal Savings, ” Manna said, when asked about his links with the firm. The CID case against him was eventually stayed by the Calcutta high court, he said.
In the early 2000s, the Securities and Exchange Board of India (Sebi) closed down over 500 companies that ran CISes across the country, but MPS managed to secure for itself a provisional registration as a CIS manager.
Manna claims MPS Greenery Developers Ltd, the flagship of the group, is the only firm in India to have that registration. But this does not allow it to collect deposits, Sebi has said several times in its orders against MPS Greenery.
Having run a company that took public deposits before, Manna was conservative with commissions.
Whereas others in the trade would pay 30% of deposits as commission to field agents, MPS paid only 8%, according to Manna.
To put up a brave front in the wake of the ongoing crisis, Manna recently issued newspaper advertisements inviting field agents of other firms to join MPS’s sales team.
His company, he said, was looking to go national.
Agents don't know what is provisional registration by SEBI.If they knew what it is -then they would have known why SEBI is say to windup and deposit the money in N-Bank in E-account. Mr Halif shah and Mr.Biswas have kept on alerting but agents are agents. Wiser agents will give up but others will keep arguing and fool others. Mr.Pritam, Papaya tree is really giving fruit to you and leaves to your customers.
Wake up people wake up .
Also see:http://www.livemint.com/Companies/fWqpoUpsSNf7Jp5yrzwlaL/MPS-Greenery-seeks-police-protection.html
ICore E-Services on the verge of collapse.
ICore E-Services Ltd, one of the front-runners among West Bengal’s deposit-taking firms until a few months ago, is on the verge of collapse with its founder, Anukul Maiti, telling top agents at a secret meeting on Sunday that he wouldn’t be able to repay depositors immediately.
Agents alleged that the company has been delaying repayment of matured deposits since January. Pressure on it to return money intensified after the Saradha Group, another firm in the trade, went bust last month leaving depositors high and dry.
It isn’t immediately known if any formal complaint has been lodged with the police as yet, but agents and depositors appear to be running out of patience.
The iCore Group’s management remained incommunicado, and could not be contacted despite several attempts in the past few days. Fifty-year-old Maiti and his wife Kanika, also a director of the firm, appealed to agents on Sunday to lend Rs.25, 000 each to bail out the company, promising to repay them after iCore overcame the crisis by selling its fixed assets.
The group is said to have at least 100, 000 agents.
Thousands turned up for Sunday’s meeting, though only the upper echelons of the firm’s sales force was invited for what was to be a secret meeting to chalk out a survival plan.
It had an air of déjà vu about it: Saradha Group chairman Sudipta Sen also held similar meetings with his field agents in the run up to its collapse but eventually gave up and fled Kolkata.
Things went out of hand and Anukul Maiti and his wife had to be rescued by their private security guards from irate agents, said people who attended Sunday’s meeting at a hall on the southern fringes of Kolkata. These people refused to be identified.
iCore, which runs a shopping mall in south Kolkata’s Bhawanipore neighbourhood and several other businesses, used to receive money from depositors as advance from customers. It owed them at least Rs.305 crore at the end of fiscal 2010-11, shows its balance sheet for the year—the last filed by it with the Registrar of Companies.
Apart from that, in fiscal 2011, Mega Mould India Ltd, a unit of the iCore Group that described itself as trader of finished goods, raised Rs.200 crore through a sale of secured debentures, mortgaging its own goodwill—an accounting term that means the intangible worth of a company’s brand and businesses.
Normally, under global accounting norms, a company cannot on its own determine the value of its goodwill unless it has paid for it in some manner, said an auditor, who too did not wish to be named. “I doubt if this company has ever paid anything at all for its goodwill, so it is bizarre that it was allowed to mortgage it to sell secured debentures, ” he added.
Anukul Maiti told agents on Sunday that his iCore Group had an outstanding liability of Rs.750 crore, according to people who attended the meeting. This could not be independently verified.
On Monday, a large number of agents turned up at iCore’s corporate office in central Kolkata seeking immediate refund of matured deposits. They said some of them had been given post-dated cheques that cannot be cashed until July—in some cases, until August.
Source:http://www.livemint.com/Industry/Z13LKAAQCWO5W5apSX3WYM/ICore-EServices-o...⇄
Work hard earn more.If greeded more you will lose more.You get nothing free and extra more in this world.Only your dear one will give you more not a stranger.
Who is MPS founder Manna?
MPS Group chairman Pramatha Nath Manna, who is pushing 60, is perhaps the most experienced in building businesses with rural household savings.
He was linked to Satadal Savings and Investment (India) Ltd, a firm founded in 1982 in a cubbyhole of an office outside the railway station of Panskura—a small town in the then undivided Midnapore district—allegedly as a director.
In 2004, he was detained along with at least four others by the Criminal Investigation Department (CID) after it failed to repay depositors.
Satadal Savings collected money from across homes in Midnapore district until it went bust in 1997. Some 15, 000-16, 000 field agents were made redundant; hundreds of thousands of depositors weren’t repaid.
By the time they formed an association and filed a complaint with the police in 2002, alleging that the directors of Satadal Savings had made off with at least Rs.50 crore, Manna had founded the MPS Group and restarted taking money under collective investment schemes (CIS).
His businesses were now based in Jhargram, not far from Panskura, where he started.
“I was only an employee of Satadal Savings, ” Manna said, when asked about his links with the firm. The CID case against him was eventually stayed by the Calcutta high court, he said.
In the early 2000s, the Securities and Exchange Board of India (Sebi) closed down over 500 companies that ran CISes across the country, but MPS managed to secure for itself a provisional registration as a CIS manager.
Manna claims MPS Greenery Developers Ltd, the flagship of the group, is the only firm in India to have that registration. But this does not allow it to collect deposits, Sebi has said several times in its orders against MPS Greenery.
Having run a company that took public deposits before, Manna was conservative with commissions.
Whereas others in the trade would pay 30% of deposits as commission to field agents, MPS paid only 8%, according to Manna.
To put up a brave front in the wake of the ongoing crisis, Manna recently issued newspaper advertisements inviting field agents of other firms to join MPS’s sales team.
His company, he said, was looking to go national.
Agents don't know what is provisional registration by SEBI.If they knew what it is -then they would have known why SEBI is say to windup and deposit the money in N-Bank in E-account. Mr Halif shah and Mr.Biswas have kept on alerting but agents are agents. Wiser agents will give up but others will keep arguing and fool others. Mr.Pritam, Papaya tree is really giving fruit to you and leaves to your customers.
Wake up people wake up .
Also see:http://www.livemint.com/Companies/fWqpoUpsSNf7Jp5yrzwlaL/MPS-Greenery-seeks-police-protection.html
ICore E-Services on the verge of collapse.
ICore E-Services Ltd, one of the front-runners among West Bengal’s deposit-taking firms until a few months ago, is on the verge of collapse with its founder, Anukul Maiti, telling top agents at a secret meeting on Sunday that he wouldn’t be able to repay depositors immediately.
Agents alleged that the company has been delaying repayment of matured deposits since January. Pressure on it to return money intensified after the Saradha Group, another firm in the trade, went bust last month leaving depositors high and dry.
It isn’t immediately known if any formal complaint has been lodged with the police as yet, but agents and depositors appear to be running out of patience.
The iCore Group’s management remained incommunicado, and could not be contacted despite several attempts in the past few days. Fifty-year-old Maiti and his wife Kanika, also a director of the firm, appealed to agents on Sunday to lend Rs.25, 000 each to bail out the company, promising to repay them after iCore overcame the crisis by selling its fixed assets.
The group is said to have at least 100, 000 agents.
Thousands turned up for Sunday’s meeting, though only the upper echelons of the firm’s sales force was invited for what was to be a secret meeting to chalk out a survival plan.
It had an air of déjà vu about it: Saradha Group chairman Sudipta Sen also held similar meetings with his field agents in the run up to its collapse but eventually gave up and fled Kolkata.
Things went out of hand and Anukul Maiti and his wife had to be rescued by their private security guards from irate agents, said people who attended Sunday’s meeting at a hall on the southern fringes of Kolkata. These people refused to be identified.
iCore, which runs a shopping mall in south Kolkata’s Bhawanipore neighbourhood and several other businesses, used to receive money from depositors as advance from customers. It owed them at least Rs.305 crore at the end of fiscal 2010-11, shows its balance sheet for the year—the last filed by it with the Registrar of Companies.
Apart from that, in fiscal 2011, Mega Mould India Ltd, a unit of the iCore Group that described itself as trader of finished goods, raised Rs.200 crore through a sale of secured debentures, mortgaging its own goodwill—an accounting term that means the intangible worth of a company’s brand and businesses.
Normally, under global accounting norms, a company cannot on its own determine the value of its goodwill unless it has paid for it in some manner, said an auditor, who too did not wish to be named. “I doubt if this company has ever paid anything at all for its goodwill, so it is bizarre that it was allowed to mortgage it to sell secured debentures, ” he added.
Anukul Maiti told agents on Sunday that his iCore Group had an outstanding liability of Rs.750 crore, according to people who attended the meeting. This could not be independently verified.
On Monday, a large number of agents turned up at iCore’s corporate office in central Kolkata seeking immediate refund of matured deposits. They said some of them had been given post-dated cheques that cannot be cashed until July—in some cases, until August.
Source:http://www.livemint.com/Industry/Z13LKAAQCWO5W5apSX3WYM/ICore-EServices-o...⇄
Work hard earn more.If greeded more you will lose more.You get nothing free and extra more in this world.Only your dear one will give you more not a stranger.
My parents (retired and 70+ ) had invested a large sum into the MPS Orchard bond. During collection, the agent gave promises such as - the invested amount can be withdrawn at any point. My gullible parents believed in what he said and now when my father needs money for medical treatment the agent simply vanished. Not picking up calls.
I'm prepared to let go of some money (whatever I'm contractually obligated to pay) in the form of early withdrawal penalty, and get the money back. Do I stand a chance?
How do you think I should go about it?
Regards,
Aditya
I'm prepared to let go of some money (whatever I'm contractually obligated to pay) in the form of early withdrawal penalty, and get the money back. Do I stand a chance?
How do you think I should go about it?
Regards,
Aditya
Dear MPS,
My late Father-in-law had (at Durgapur, West Bengal) held investments (bonds) with your esteemed organization. Upon his demise (on December 31, 2012) my mother-in-law is in requirement of money to meet her day to day needs. Upon this context she wants to withdraw the money before the maturity dates of the Bond. Kindly can you guide me with regards to the procedure to be followed and what would be the charges that would be deducted from the bonds. This is a very urgent matter and would request you to take up this matter at your earliest. If possible can you also indicate whom to meet for this matter at Durgapur, West Bengal or the matter can be handled from Mumbai.
Thanks in advance
My late Father-in-law had (at Durgapur, West Bengal) held investments (bonds) with your esteemed organization. Upon his demise (on December 31, 2012) my mother-in-law is in requirement of money to meet her day to day needs. Upon this context she wants to withdraw the money before the maturity dates of the Bond. Kindly can you guide me with regards to the procedure to be followed and what would be the charges that would be deducted from the bonds. This is a very urgent matter and would request you to take up this matter at your earliest. If possible can you also indicate whom to meet for this matter at Durgapur, West Bengal or the matter can be handled from Mumbai.
Thanks in advance
I was purchased an 'AGRO BOND FOR 36 MONTHS' (Bond No. A/04/10/009046) on 22.04.2010 and I have submitted all the requisites documents for maturity in the month of March'2013 along with Rs. 15/- as the maturity money is 12, 985/- to the agent. But unfortunately they did not give me the maturity money with the excuse of their Bank A/c is locked.
ami maturity taka mps theke pachhi na. pls help me mob. [protected]
Visiting this site after a long time...so, what I wrote one year back is now becoming the fact. I personally know many people who are not getting their maturity amount from MPS (as expected). I would suggest the investors who are not getting their money to contact Mr. Pritam and other agents (who have given their mobile no.) to get their money - though I am not sure whether they still exist in the market or not.
MPS Greenery Developers Ltd. is an Agro Industry. It has no relation with any other cheat funds. Every Company taken money from market like Reliance, Tata, Birla etc. But the policy of investment is different. They sold share to the public & MPS sold bond. Bcoz very few number of people is friendly with share Market. But by selling bond we can reach door to door of the people for investment. More over Reliance, Tata, Birla are well known company to all over India. Tats y people like purchase share of tat particular companys. MPS is going to make large as them. But till the time comes we need to invest money by selling of bond. If you purchase our bond u can see in the receipt that we mentioned the Bond Number over there. MPS goes through CIS (Collective Investment Scheme). A large number of people basically does not know tat wat is CIS. In CIS scheme the company invest 90% of the money in purpose of production & make assets in their own hand watever the collection taken from market. So if you invest Rs.100 in CIS scheme the 90% of your investment already get safety bcoz this will turned into assets. The MPS Greenery Developers Ltd. like to do tat things particularly. It has no relation with any other cheat funds. It is an investment scheme in agro industry. So feel free to invest at MPS Greenery Developers Ltd. Further any query you can contact me.
PROSIT DAS
Marketing Organiser
MPS Greenery Developers Ltd.
Mob. [protected]
PROSIT DAS
Marketing Organiser
MPS Greenery Developers Ltd.
Mob. [protected]
Sir,
I last work with BMA wealth Creators ltd. I introduce a client snehlata Didwania and client gives a cheque to company amount:50, 000-against his debit and the cheque was bounce, Company file a case against cheque bounce, But when i leave the company before 6 months the company charged his amount with intrest with my final payment and told that when case is solve company pay these return to you
Now, the case is going last two years but there is no any result please help me.
These case his Handel by BMA compliance officer MR.SONIKAJI, And his team member Mr.VIJAY.
I last work with BMA wealth Creators ltd. I introduce a client snehlata Didwania and client gives a cheque to company amount:50, 000-against his debit and the cheque was bounce, Company file a case against cheque bounce, But when i leave the company before 6 months the company charged his amount with intrest with my final payment and told that when case is solve company pay these return to you
Now, the case is going last two years but there is no any result please help me.
These case his Handel by BMA compliance officer MR.SONIKAJI, And his team member Mr.VIJAY.
Not getting my money even after maturity from MPS
I am Syamal Kumar Mukhopadhyay residing at Barrackpore, WB. i 've invested more than 4.00 lacs of rupees. Out of which Rs. 2.00 lacs in MIS against two bonds of 1.00 lac.each. Since Sept'13 no interest is getting credited through NEFT in my account.It is learnt that so many complaints have been lodged with Lake Town Police Station against the chairman and directors of the company. I still do not understand, why these people are not kept into custody. Govt. authorities are busy with Saradha massacre. I would request Govt. to pay the required amount of attention to the MPS victims also. The latest information may please be mailed at [protected]@gmail.com.
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M/s MPS Greenery Developers Ltd.
MPS Enclave, P-176,
Block-B Lake Town Kolkata-700089
Dear Sir,
My AGRO BOND for 36 months maturity amount of Rs12, 875/- on 25/1/2015 vied bond No. A/01/12/014706. It has been not pay in my favour till date, I was already submitted my original certificate to Asansol ( AL - 015) sub-office on 3.1.2015 . So that I requested to kindly pay my maturity amount for the earliest.
Address :- Name : Ajoy Bhattacharya
Dept. of ESE, Indian School of Mines
Dhanbad - 826004, Jharkhand
Email ID:- [protected]@ yahoo.com
Mob. No. [protected]
MPS Enclave, P-176,
Block-B Lake Town Kolkata-700089
Dear Sir,
My AGRO BOND for 36 months maturity amount of Rs12, 875/- on 25/1/2015 vied bond No. A/01/12/014706. It has been not pay in my favour till date, I was already submitted my original certificate to Asansol ( AL - 015) sub-office on 3.1.2015 . So that I requested to kindly pay my maturity amount for the earliest.
Address :- Name : Ajoy Bhattacharya
Dept. of ESE, Indian School of Mines
Dhanbad - 826004, Jharkhand
Email ID:- [protected]@ yahoo.com
Mob. No. [protected]
For your kind information MPS Developers ltd. is a cheat company and Promoth nath Manna is chor.
Archita Batobyal
Archita Batobyal
Dear Sir,
This is to inform you that i have a orchard bond for 36 months(200/-) of MPS Greenery Developers Ltd. maturity date was 29th September 2013, Bond No. KA001 A/09/10/014560, Maturity Amount 8, 657/-. But till now i didn't received the maturity amount. Neither i know wether it is possible that i will receive the amount or have been cheaed by a fraud company. Please sir let me know when and how can i receive the maturity amount.?
Thanking you
Baby shaw
[protected]
This is to inform you that i have a orchard bond for 36 months(200/-) of MPS Greenery Developers Ltd. maturity date was 29th September 2013, Bond No. KA001 A/09/10/014560, Maturity Amount 8, 657/-. But till now i didn't received the maturity amount. Neither i know wether it is possible that i will receive the amount or have been cheaed by a fraud company. Please sir let me know when and how can i receive the maturity amount.?
Thanking you
Baby shaw
[protected]
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MPS IS NOT PONZI SCHEME, it is collective investment scheme..in this scheme if company collect 100 rs then the company invest 90 rs
if mps not invest money in his project or factory then it will became sardha.. but mps invest money not give money to political leader, police officer..
ponzi sceme is give maturity from one new investment..as they have no project to invest money..
CIS is 100% legal scheme & govt registered...& till now all cis rules are not right...said bu U K SINHA Chairman of SEBI.
So if any day cis rules modified then mps give final registration..coz mps change the rules of cis...
& as we know bad thing establish quick & right thing establish late..so wait for some time..
mps not give 12-15%..I[censored] can prove it i give resignation from this company..
the jhargram project created totally scientifically..where the company was lose some low amount..totally cyclic process..
& also the fact is if company get final registration sebi not liable to payment investor if company faliure...
so first thing i noticed that agent commission & party interest most low than other company...