[Resolved] Dsk & Sons — Dsk & sons not depositing the the fixed deposit amount after maturity "unethical behaviour" | |||
Hello, This is to inform you that my FDR No.- S0504936 of Rs. 1 Lac has matured of 2nd February 2017, Issued cheque no. 417553 (bank of Maharashtra) dated[protected]. As per the instructions received from Shivajinagar, Pune Office I visited office on 23rd January 17 and requested Mrs. Purva Gore to deposit the FD amount to my account. She informed that cheque deposition is not needed and the amount will be transferred using NEFT service. After I visited DSk office twice and requested to deposit the amount as I need it urgently for my daughters higher education in any case. I followed up with your officers by calls and messages; but they are not responding to any of my requests. I am a social worker and have shared dais with Mr. D. S. Kulkarni in the career expo organized by Tarun Bharat group in Nagpur recently. Please find herewith my daughter's admit card mentioning the required finances for her education. I urge you to look into this matter seriously and deposit the maturity amount very soon. I did not expect such poor service from DSK group and it is a great disappointment for me to see such poor response; hence, I had to write a harsh mail to you. I am hoping for a positive response within eight days (i.e. by 23rd Feb-2017). I need this money on highly urgent basis and if the money is not deposited till then, I will deposit the cheque given by you in my account. You must be aware that cheque bouncing is a criminal offense in India. Was this information helpful? | |||
Aug 23, 2017 Complaint marked as Resolved | |||
 79 Comments | |||
Comments
Plz add me to the whatsapp grp i also have FD in DSK ...mob no [protected]
Reply
Please add my number too in this group [protected]
Please add me to the group too : [protected].
Victim of DSK constuction.
Victim of DSK constuction.
Dear Adv Naresh...what happened after giving the notice?
Dear Adv. Naresh...what happened after giving notice? Have you filed a case? What is the outcome?
Please add my number as well ±[protected]
Jagjit Singh - I am ex serviceman and i deposited 2.25 lakhs with DS Kulkarni and not receiving interests please add my No [protected] also in whats gp
Thanks for initiating this group communication. I am also a sufferer of this DSK financial mess. Appreciate if you kindly add me in your Whats App group (my tel no. [protected]). Please if you could also inform what has so far transpired (major communications) amongst fellow members who have joined this group. How far have you been able to persue the matter with Adv Naresh. In my opinion we should move quickly as a group (based on its present members strength) to eveluate and work on all options (e.g. filing a law suit, moving to consumer forums etc.) at the same time try to expand the size of our group by using all social media tools + contacting persons visiting DSK office in this context. Last but not the least I see DSK as a big problem so we need to be really united to strongly challange this menace. Let us help each other. Regars... lele
Dear Jayanti ...I take it that you have updated your Whats App group to include me. Appreciate if you could send me a test message so that we can communicate further on DSK related issues.
Hi,
This is sikandra vishwakarma,
I have deposited 5.5 lakhs in DSK Group, the amount has matured in 12th of may.I visited DSk office regular basis,
but he was denied to return money.he simply told me renew for 2 years.Please add me in your whatsapp group.
My mobile no is [protected].
This is sikandra vishwakarma,
I have deposited 5.5 lakhs in DSK Group, the amount has matured in 12th of may.I visited DSk office regular basis,
but he was denied to return money.he simply told me renew for 2 years.Please add me in your whatsapp group.
My mobile no is [protected].
Hi,
I am also a victim of DSK & Sons FD scheme. The cheque issued by DSK has bounced back. Please add me to the whatsapp group. My contact # [protected].- S.Ghosh
I am also a victim of DSK & Sons FD scheme. The cheque issued by DSK has bounced back. Please add me to the whatsapp group. My contact # [protected].- S.Ghosh
Hi, Please add my number as well "[protected]".
@ [protected] pls add me in group ...I am too victim ...just take action onwards...
I also chitted by DSK . Pls add my no [protected]
for DSK default cheque payments.
Cheque dishonoured: A step-by-step guide for legal recourse
The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both
Cheques are used in almost all transactions such as re-payment of loan, payment of salary, bills, fees, etc. A vast majority of cheques are processed and cleared by banks on daily basis. Cheques are issued for the reason of securing proof of payment. Nevertheless, cheques remain a reliable method of payment for many people. On the other hand, it is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.
A cheque is a negotiable instrument. Crossed and account payee cheques are not negotiable by any person other than the payee. The cheques have to be deposited into the payee's bank account.
Legally, the author of the cheque is called ‘drawer’, the person in whose favour, the cheque is drawn is called ‘payee’, and the bank who is directed to pay the amount is known as ‘drawee’.
However, cases of cheque bounce are common these days. Sometimes cheques bearing large amounts remain unpaid and are returned by the bank on which they are drawn.
The below article provides information on what you may do if your cheque is dishonoured? Here’s a step-by-step guide to the legal procedure that is available to you.
If a cheque is dishonoured
When a cheque is dishonoured, the drawee bank immediately issues a ‘Cheque Return Memo’ to the banker of the payee mentioning the reason for non-payment. The payee’s banker then gives the dishonoured cheque and the memo to the payee. The holder or payee can resubmit the cheque within three months of the date on it, if he believes it will be honoured the second time. However, if the cheque issuer fails to make a payment, then the payee has the right to prosecute the drawer legally.
The payee may legally sue the defaulter / drawer for dishonour of cheque only if the amount mentioned in the cheque is towards discharge of a debt or any other liability of the defaulter towards payee.
If the cheque was issued as a gift, towards lending a loan or for unlawful purposes, then the drawer cannot be prosecuted in such cases.
Legal action
The Negotiable Instruments Act, 1881 is applicable for the cases of dishonour of cheque. This Act has been amended many times since 1881.
According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.
If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing.
The payee has to sent the notice to the drawer with 30 days from the date of receiving “Cheque Return Memo” from the bank. The notice should mention that the cheque amount has to be paid to the payee within 15 days from the date of receipt of the notice by the drawer. If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act.
However, the complaint should be registered in a magistrate’s court within a month of the expiry of the notice period. It is essential in this case to consult an advocate who is well versed and experienced in this area of practice to proceed further in the matter.
Fine points: Conditions for prosecution
Legally, certain conditions have to be fulfilled in order to use the provisions of Section 138.
The cheque should have been drawn by the drawer on an account maintained by him.
The cheque should have been returned or dishonoured because of insufficient funds in the drawer's account.
The cheque is issued towards discharge of a debt or legal liability.
After receiving the notice, if the drawer doesn't make the payment within 15 days from the day of receiving the notice, then he commits an offence punishable under Section 138 of the Negotiable Instruments Act.
Punishment & penalty
On receiving the complaint, along with an affidavit and relevant paper trail, the court will issue summons and hear the matter. If found guilty, the defaulter can be punished with monetary penalty which may be twice the amount of the cheque or imprisonment for a term which may be extended to two years or both. The bank also has the right to stop the cheque book facility and close the account for repeat offences of bounced cheques.
If the drawer makes payment of the cheque amount within 15 days from the date of receipt of the notice, then drawer does not commit any offence. Otherwise, the payee may proceed to file a complaint in the court of the jurisdictional magistrate within one month from the date of expiry of 15 days prescribed in the notice.
Cheque dishonoured: A step-by-step guide for legal recourse
The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both
Cheques are used in almost all transactions such as re-payment of loan, payment of salary, bills, fees, etc. A vast majority of cheques are processed and cleared by banks on daily basis. Cheques are issued for the reason of securing proof of payment. Nevertheless, cheques remain a reliable method of payment for many people. On the other hand, it is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.
A cheque is a negotiable instrument. Crossed and account payee cheques are not negotiable by any person other than the payee. The cheques have to be deposited into the payee's bank account.
Legally, the author of the cheque is called ‘drawer’, the person in whose favour, the cheque is drawn is called ‘payee’, and the bank who is directed to pay the amount is known as ‘drawee’.
However, cases of cheque bounce are common these days. Sometimes cheques bearing large amounts remain unpaid and are returned by the bank on which they are drawn.
The below article provides information on what you may do if your cheque is dishonoured? Here’s a step-by-step guide to the legal procedure that is available to you.
If a cheque is dishonoured
When a cheque is dishonoured, the drawee bank immediately issues a ‘Cheque Return Memo’ to the banker of the payee mentioning the reason for non-payment. The payee’s banker then gives the dishonoured cheque and the memo to the payee. The holder or payee can resubmit the cheque within three months of the date on it, if he believes it will be honoured the second time. However, if the cheque issuer fails to make a payment, then the payee has the right to prosecute the drawer legally.
The payee may legally sue the defaulter / drawer for dishonour of cheque only if the amount mentioned in the cheque is towards discharge of a debt or any other liability of the defaulter towards payee.
If the cheque was issued as a gift, towards lending a loan or for unlawful purposes, then the drawer cannot be prosecuted in such cases.
Legal action
The Negotiable Instruments Act, 1881 is applicable for the cases of dishonour of cheque. This Act has been amended many times since 1881.
According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.
If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing.
The payee has to sent the notice to the drawer with 30 days from the date of receiving “Cheque Return Memo” from the bank. The notice should mention that the cheque amount has to be paid to the payee within 15 days from the date of receipt of the notice by the drawer. If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act.
However, the complaint should be registered in a magistrate’s court within a month of the expiry of the notice period. It is essential in this case to consult an advocate who is well versed and experienced in this area of practice to proceed further in the matter.
Fine points: Conditions for prosecution
Legally, certain conditions have to be fulfilled in order to use the provisions of Section 138.
The cheque should have been drawn by the drawer on an account maintained by him.
The cheque should have been returned or dishonoured because of insufficient funds in the drawer's account.
The cheque is issued towards discharge of a debt or legal liability.
After receiving the notice, if the drawer doesn't make the payment within 15 days from the day of receiving the notice, then he commits an offence punishable under Section 138 of the Negotiable Instruments Act.
Punishment & penalty
On receiving the complaint, along with an affidavit and relevant paper trail, the court will issue summons and hear the matter. If found guilty, the defaulter can be punished with monetary penalty which may be twice the amount of the cheque or imprisonment for a term which may be extended to two years or both. The bank also has the right to stop the cheque book facility and close the account for repeat offences of bounced cheques.
If the drawer makes payment of the cheque amount within 15 days from the date of receipt of the notice, then drawer does not commit any offence. Otherwise, the payee may proceed to file a complaint in the court of the jurisdictional magistrate within one month from the date of expiry of 15 days prescribed in the notice.
for DSK default cheque payments.
Cheque dishonoured: A step-by-step guide for legal recourse
The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both
Cheques are used in almost all transactions such as re-payment of loan, payment of salary, bills, fees, etc. A vast majority of cheques are processed and cleared by banks on daily basis. Cheques are issued for the reason of securing proof of payment. Nevertheless, cheques remain a reliable method of payment for many people. On the other hand, it is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.
A cheque is a negotiable instrument. Crossed and account payee cheques are not negotiable by any person other than the payee. The cheques have to be deposited into the payee's bank account.
Legally, the author of the cheque is called ‘drawer’, the person in whose favour, the cheque is drawn is called ‘payee’, and the bank who is directed to pay the amount is known as ‘drawee’.
However, cases of cheque bounce are common these days. Sometimes cheques bearing large amounts remain unpaid and are returned by the bank on which they are drawn.
The below article provides information on what you may do if your cheque is dishonoured? Here’s a step-by-step guide to the legal procedure that is available to you.
If a cheque is dishonoured
When a cheque is dishonoured, the drawee bank immediately issues a ‘Cheque Return Memo’ to the banker of the payee mentioning the reason for non-payment. The payee’s banker then gives the dishonoured cheque and the memo to the payee. The holder or payee can resubmit the cheque within three months of the date on it, if he believes it will be honoured the second time. However, if the cheque issuer fails to make a payment, then the payee has the right to prosecute the drawer legally.
The payee may legally sue the defaulter / drawer for dishonour of cheque only if the amount mentioned in the cheque is towards discharge of a debt or any other liability of the defaulter towards payee.
If the cheque was issued as a gift, towards lending a loan or for unlawful purposes, then the drawer cannot be prosecuted in such cases.
Legal action
The Negotiable Instruments Act, 1881 is applicable for the cases of dishonour of cheque. This Act has been amended many times since 1881.
According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.
If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing.
The payee has to sent the notice to the drawer with 30 days from the date of receiving “Cheque Return Memo” from the bank. The notice should mention that the cheque amount has to be paid to the payee within 15 days from the date of receipt of the notice by the drawer. If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act.
However, the complaint should be registered in a magistrate’s court within a month of the expiry of the notice period. It is essential in this case to consult an advocate who is well versed and experienced in this area of practice to proceed further in the matter.
Fine points: Conditions for prosecution
Legally, certain conditions have to be fulfilled in order to use the provisions of Section 138.
The cheque should have been drawn by the drawer on an account maintained by him.
The cheque should have been returned or dishonoured because of insufficient funds in the drawer's account.
The cheque is issued towards discharge of a debt or legal liability.
After receiving the notice, if the drawer doesn't make the payment within 15 days from the day of receiving the notice, then he commits an offence punishable under Section 138 of the Negotiable Instruments Act.
Punishment & penalty
On receiving the complaint, along with an affidavit and relevant paper trail, the court will issue summons and hear the matter. If found guilty, the defaulter can be punished with monetary penalty which may be twice the amount of the cheque or imprisonment for a term which may be extended to two years or both. The bank also has the right to stop the cheque book facility and close the account for repeat offences of bounced cheques.
If the drawer makes payment of the cheque amount within 15 days from the date of receipt of the notice, then drawer does not commit any offence. Otherwise, the payee may proceed to file a complaint in the court of the jurisdictional magistrate within one month from the date of expiry of 15 days prescribed in the notice.
Cheque dishonoured: A step-by-step guide for legal recourse
The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both
Cheques are used in almost all transactions such as re-payment of loan, payment of salary, bills, fees, etc. A vast majority of cheques are processed and cleared by banks on daily basis. Cheques are issued for the reason of securing proof of payment. Nevertheless, cheques remain a reliable method of payment for many people. On the other hand, it is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.
A cheque is a negotiable instrument. Crossed and account payee cheques are not negotiable by any person other than the payee. The cheques have to be deposited into the payee's bank account.
Legally, the author of the cheque is called ‘drawer’, the person in whose favour, the cheque is drawn is called ‘payee’, and the bank who is directed to pay the amount is known as ‘drawee’.
However, cases of cheque bounce are common these days. Sometimes cheques bearing large amounts remain unpaid and are returned by the bank on which they are drawn.
The below article provides information on what you may do if your cheque is dishonoured? Here’s a step-by-step guide to the legal procedure that is available to you.
If a cheque is dishonoured
When a cheque is dishonoured, the drawee bank immediately issues a ‘Cheque Return Memo’ to the banker of the payee mentioning the reason for non-payment. The payee’s banker then gives the dishonoured cheque and the memo to the payee. The holder or payee can resubmit the cheque within three months of the date on it, if he believes it will be honoured the second time. However, if the cheque issuer fails to make a payment, then the payee has the right to prosecute the drawer legally.
The payee may legally sue the defaulter / drawer for dishonour of cheque only if the amount mentioned in the cheque is towards discharge of a debt or any other liability of the defaulter towards payee.
If the cheque was issued as a gift, towards lending a loan or for unlawful purposes, then the drawer cannot be prosecuted in such cases.
Legal action
The Negotiable Instruments Act, 1881 is applicable for the cases of dishonour of cheque. This Act has been amended many times since 1881.
According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.
If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing.
The payee has to sent the notice to the drawer with 30 days from the date of receiving “Cheque Return Memo” from the bank. The notice should mention that the cheque amount has to be paid to the payee within 15 days from the date of receipt of the notice by the drawer. If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act.
However, the complaint should be registered in a magistrate’s court within a month of the expiry of the notice period. It is essential in this case to consult an advocate who is well versed and experienced in this area of practice to proceed further in the matter.
Fine points: Conditions for prosecution
Legally, certain conditions have to be fulfilled in order to use the provisions of Section 138.
The cheque should have been drawn by the drawer on an account maintained by him.
The cheque should have been returned or dishonoured because of insufficient funds in the drawer's account.
The cheque is issued towards discharge of a debt or legal liability.
After receiving the notice, if the drawer doesn't make the payment within 15 days from the day of receiving the notice, then he commits an offence punishable under Section 138 of the Negotiable Instruments Act.
Punishment & penalty
On receiving the complaint, along with an affidavit and relevant paper trail, the court will issue summons and hear the matter. If found guilty, the defaulter can be punished with monetary penalty which may be twice the amount of the cheque or imprisonment for a term which may be extended to two years or both. The bank also has the right to stop the cheque book facility and close the account for repeat offences of bounced cheques.
If the drawer makes payment of the cheque amount within 15 days from the date of receipt of the notice, then drawer does not commit any offence. Otherwise, the payee may proceed to file a complaint in the court of the jurisdictional magistrate within one month from the date of expiry of 15 days prescribed in the notice.

At Moneylife Foundation, we warn people that corporate FDs are unsecure and not 100% safe. We tell investors to look at credit ratings and only invest in AAA rated companies and not be greedy for 1% or 2% more.
You need to can file complaint (not just phone calls/letters) against the company at the Company Law Board (CLB), Ministry of Corporate Affairs (MCA) and SEBI. However, remember, filing complaint is no guarantee that you would receive your money, as not much action happens there and you may have to approach the EOW of Police.
Here is how you can file a complaint…
1. First, you should file a complaint with the Investor Grievance Cell of the company. Go to company's Website and check contact details. Email them regarding your issues and complaints and save it as a proof that they have not replied your complaints.
2. If you do not get proper response from them by email or on their helpline numbers, follow below steps and then escalate the issue. You can do this by filing an online complaint to MCA as mentioned below.
3. On MCA website (http://www.mca.gov.in/MCA21/index.html ) click on the right side menu under 'Important Links' click on 'Lodge Investor Complaints'. It will provide you Investor Complaint Form (http://www.mca.gov.in/DCAPortalWeb/dca/EFormDisplay.do?method=getForm&conte...⇄ ). Fill in all the necessary information and submit your complaint online.
4. While filling online complaint form on MCA website, you need to enter Corporate identity number (CIN) (http://www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&...⇄ ) of company.
5. You can submit an online complaint to SEBI http://www.scores.gov.in/Complaint.aspx?flag=n
In addition, you can also file RTI (after say 30 days from filing complaint/s) with the CLB, MCA and SEBI to get information like file notings and action taken, if any, on your complaint.
Keep reading Moneylife (http://www.moneylife.in/ )
We earlier wrote an article on, 'How to get your money back from Yash Birla group companies' (http://www.moneylife.in/article/how-to-get-your-money-back-from-yash-birla-grou...⇄ ) to guide our readers in getting their corporate FD money back from Yash Birla Group of Companies. Many of them got their money back by using this process, as CLB directed company to pay to its deposit holder. (http://www.moneylife.in/article/company-law-board-directs-zenith-birla-ltd-to-p...⇄ )
If required, you can meet our experts on Thursday during the Daily Free Guidance Session between 5pm to 7pm at our office. You can also show the documents to the expert for guidance.
At Moneylife Foundation, we warn people that corporate FDs are unsecure and not 100% safe. We tell investors to look at credit ratings and only invest in AAA rated companies and not be greedy for 1% or 2% more.
You need to can file complaint (not just phone calls/letters) against the company at the Company Law Board (CLB), Ministry of Corporate Affairs (MCA) and SEBI. However, remember, filing complaint is no guarantee that you would receive your money, as not much action happens there and you may have to approach the EOW of Police.
Here is how you can file a complaint…
1. First, you should file a complaint with the Investor Grievance Cell of the company. Go to company's Website and check contact details. Email them regarding your issues and complaints and save it as a proof that they have not replied your complaints.
2. If you do not get proper response from them by email or on their helpline numbers, follow below steps and then escalate the issue. You can do this by filing an online complaint to MCA as mentioned below.
3. On MCA website (http://www.mca.gov.in/MCA21/index.html ) click on the right side menu under 'Important Links' click on 'Lodge Investor Complaints'. It will provide you Investor Complaint Form (http://www.mca.gov.in/DCAPortalWeb/dca/EFormDisplay.do?method=getForm&conte...⇄ ). Fill in all the necessary information and submit your complaint online.
4. While filling online complaint form on MCA website, you need to enter Corporate identity number (CIN) (http://www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&...⇄ ) of company.
5. You can submit an online complaint to SEBI http://www.scores.gov.in/Complaint.aspx?flag=n
In addition, you can also file RTI (after say 30 days from filing complaint/s) with the CLB, MCA and SEBI to get information like file notings and action taken, if any, on your complaint.
Keep reading Moneylife (http://www.moneylife.in/ )
We earlier wrote an article on, 'How to get your money back from Yash Birla group companies' (http://www.moneylife.in/article/how-to-get-your-money-back-from-yash-birla-grou...⇄ ) to guide our readers in getting their corporate FD money back from Yash Birla Group of Companies. Many of them got their money back by using this process, as CLB directed company to pay to its deposit holder. (http://www.moneylife.in/article/company-law-board-directs-zenith-birla-ltd-to-p...⇄ )
If required, you can meet our experts on Thursday during the Daily Free Guidance Session between 5pm to 7pm at our office. You can also show the documents to the expert for guidance.
I am a victim too plz add me my no is [protected]
please add me +91 [protected]. i have also not get interest from Jan.2017. i am also victom. Please add me on whats up group.
Plz add [protected] also, I m also victim