Karvy Stock Broking Ltd. ( Karvy Private Wealth ) — default converted to real estate units - concept horizon infra pvt. ltd.

Mar 31, 2018

Updated by rameshbabu anukavoor nagaswamy Karvy Stock Broking Ltd. ( Karvy Private Wealth ) — default converted to real estate units - concept horizon infra pvt. ltd.

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rameshbabu anukavoor nagaswamy on Mar 31, 2018 Mark as Resolved

Based on KARVY, BASAVANAGUDI, BANGALORE's approaching us, We had invested in their client company Concept Horizon Infra Pvt. Ltd., Rs.16, 86, 667/- for a 12% annual interest return plus 8% to be payable at the end of 24 months in Jan 2016. Interest were paid throough monthly cheques upt0 March 2017. Later citing various reasons, Karvy informed their client is unable to pay interest and refund principle and offered and suggested to convert amount due including interest into real estate units. We agreed in goodfaith based on Karvy's Assurances and accordingly two units 1013 and 1014 were allotted to us by Builder Buyer Agreement dt. 31st July 2017. But since then there has been no update. When visited their office two weeks ago, surprisingly their executive mentioned there is no further update. Now the matters needs to be investigated and freeze all Karvy's, Concept Horizon Infra Pvt Ltd's bank accounts and their all their directors'bank accounts including all their properties to ensure repayments to the investors. Also Karvy should be restrained from seeking/soliciting any investors with immediate effect until all the defualts are settled in full.