Sterling Holidays Resorts — Sterling Tree Magnum India Limited

Address:

Chennai

Sir,

1. My father Mr. Nagendra Pandey has invested in STERLING TREE MAGNUM (INDIA) LTD (STM). On my name SANJEEV KUMAR PANDEY via CHILD MILLIONAIRE TEAKQUITY.

2. He purchased 11 TEAK trees of Rs. 21, 730/- on 31/01/1996 vide Certificate No. H 2301.

3. He used to get Interim returns as follows:-
(a) 1ST – 6TH Year – 17, 325/- on 30/01/2002.
(b) 2ND – 12TH Year – 71, 500/- on 30/01/2008.
(c) Maturity Value – 20TH Year – 10, 72, 500/- on 30/01/2016.

4. As my father has taken up case for Pre-mature Enashment, We received an letter of STM dated 21/04/2004 stating conversion of Teakquity into Equity is pending before the Hon’ble High Court of Madras and they will revert as soon as we hear further from them. Instead of refund we got Sterling Resort letter dated 30 January 2006 of conversion of his investment into Holiday units which was not agreed by him. As we already know Sterling Holiday Resorts India limited is India’s largest time share company, though they have never given our returns till date as stated in para 3 above. It will be very helpful for us to survive as we are middle class family. We can’t effort their holidays plan.