I purchased 2 teak trees under Easy Retirement Teak Equity plans and invested Rs.2550/- on 19th May 1994. We were issued certificate nos. E5385. The scheme was scheduled for maturity on 18th May 2014. As per the certificate, I am guaranteed 37.5 cft /1.06 cu mtr of Timber per tree. These trees were said to planted at Maruthangulam Village, Kalathur Group, Tiruchuli Talik, Tirupuvanam Sub Registration District Sivaganga, Registration District, kamarajar district in the lands to an extent of 11.53 acres bearing the Survey nos. 42/1b, 42/2.
As per the scheme an amount of Rs 1600 was due in 6 th year to me i.e. in Year 2000 and Rs 7200/- due to me in 12 th Year i.e. in 2006. I did not get any amount till them till date. We even went to their Delhi office, but found their premises locked. We traced their address to M/s Sterling Tree Magnum (India) Ltd, New No. 2, Viswanathapuram, 1st Street, Rangarajapuram, Kodambakkam, Chennai-600024 basis a notice published in " The Hindu" news paper, Vijayawada Edition on 22nd Apr 2008. I sent a communication to them on their new address on 19th Jun 2008 for updating my new address and for non receipt of interim benefits. But have got no revert from them till date. I assume that this is one of those scores of fraudulent finance companies who swindle public of their hard earned money by taking help of gaps in system.
I may be updated on current status of any legal cases about this issue as I find that there are scores of people like me who lost their money. Also guide me how to get back my money.
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