Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Bajajreply25april2015

212 views

Published on

Reply of Bajaj Capital

Published in: Law
  • Be the first to comment

  • Be the first to like this

Bajajreply25april2015

  1. 1. SEBI Approved Merchant Banlan . SEBlF. egri no «me llvlv'llfXJ010S44i, lDPllil-DP—NSDL-267»2[X)6) Over 120 offices nauon wide cunc TV 18 Best finandal Adviser 2012 Great Place Io wort 2012 no V/ ,.’aIv', t yr/ I/. I; at Kalatusd n. ii, .u, i. I561‘: ‘Av-‘vi ‘ for :1, Lab V2411-0 guru- ~ nlyny v upiui . ... ... -.. VIN U67170OI 196691 (004119) ’~'-vi‘i~~: ',u. . "V/1r’V' H .1, , , riiiv. :>‘, .i- ~. .,-. ..i, «~ v V ""0111: -sir-I ' ' ' '4ii[; I;vV( 2, V"'.4’j r, u., . . . i c. ,, A. ‘, H3 l-""""' 47 um, » , Pl V. v, ,.. , ', ..r. gr, »-. ., i, I. ‘ »I1i, ’u'. H'r r; «,r, «,v, q V V‘IthviII' l'rI: ]IiilIi I: I” ll, -‘ N, ‘/, , ‘,1 , ’,, ,,. ,'. Apni ‘ _ji.1 . n . , , r,. i.», . . .., ., 4«v. l I. Shn. Raicsh Ramp. iI 'A ‘ ll l1.llI l'i' lli'}'-ill I l'lllIl '. l-‘1 www hajairapvtal (om TUIIVVDO 180') 3000 5004') l. cd. ,-. -n bl. -LBI 5<, ()R1;s hi-inng In-g. .im. .,. . N9, ‘; ‘|; L5II; '/l)ll15/‘)‘I‘)0’)11/1 dau-II April 23, 201:» RI: .l- ) U! ".§9_mRl.3lnL Dig. ” ‘I! ll! ‘ ! 11- V‘ 1' "JIM W '/ --Ir . iliii'. 'v, IL-I'LrrI: r.l uiiriiilniiii llllfll VII} l HI “I f)l’l, _': d"'l: IJ ‘gpnl 21, 3/1‘, li4r, lI, ‘dl-I: l ‘l l‘-l an ‘xpnl 24, 2l'l 3 ilr. -.'iIlii. ii. lcd li-. Il nn '~. prIl 2:) EH] 3 '. ", 1‘ li, i'. -~ «.1-nu. -rn . IIId x'I~li In rt-pl‘ J‘ i_mrlv: r mlm ii Ii'. n- “I "hi. ~i: .'I~rii uf "iur l l1l31U]7'l1I pi, -ri, i ll '! l 'l- l‘iII'l Ill mi iiiir II‘l i. r.: iii. lIIi, ' xi ). '1 ll vi, l‘Al4' iliu , v.iI I. /.-v 2', » ",1! liirwziril ihi: iriii illlll -I llll . i;rl l. wi 71”“ I ,1, ll i), i- I“. ,. ..-l i_v. ..i. »n_, l 1,. V }‘_>, i- VfJQ‘1!, f{! :V_V . inil ‘. lIl'nPlL'V‘ ll’l in 'lii [iiw "Ill lli uh I -vi~ I lIi’l4Y All! ’ ll zuiir yaw. ‘ -: li rim’ lf. ilI’ll mm: I. » 'l‘ll. ll llii "! lIl"lI'l'iIl _ illll1", _'illl'IlI ‘Jllll Hr ll’. 'l7)dlI’l Y1ll", "l lix xnu III flirir Aid I/ ;rripl.4IIiv again-. v our ~. uCl’I '~'I-TIP-h'>' l"-lI«"i '. iir~H. il l. lI'lIl4.'l "Company", I unl. i-xful and Ill"; "Al and ar, r.ordIr. ;al'. All t_lIl1lLlI71l: ll’. .illi, -u lV1'rlI lr, .r-li-i, l ll‘ zini In ‘nu! riid l, 'llTlI)l}Illl7, iAY’, ‘ ’l"lIl', "l i"I. .iv I‘ '1.wul~. l lw Iirir-u. 'I. iiii in i_lIil'). xuur Lind . m-; IiIIuII in vhw {mi ! :.. iv Hui’ ', r.rrimrI‘. _ n . i All II: tlcpv; i1il«: I'iI lirul. -;r zvlrm mcrclj. on '. ‘uur rcqul: 3. I; IL‘liI. i'«: ~l In fnr. v;ir'. ‘Iii', : Ih an furiii « .1l'1I)L' 'J. 'IvlI Ila i_}i-: Liu , llI1L‘*. lL'(. l ‘Afnfllllll/ ',, , 'lIa'J. Ii XI. ‘our truorl 2:12’ Ind or Thur : ':srnIl', l’l(;1lLIU: l"I'i. IrIT. aI, euvIc'a'; ~. vl' In fiiznur til the ~'AI'. l pnncipzsl ', ’JITlrI}lY| l'. Zi l'lé1I'Tl'. 'l‘i . '-l ~ (Jll’Iiill(, '(. l'I IIIt'In'iluu'iII~. l. IzriII<: d ' lricrc-I. naI'! v.-: inr; II'. lu; r~, clirc l. IrmIcd_ . 'l — l, l'lI: r l’harrri4L«. -ulIL; Il~ l. IrnIIr. -d and . '.l CUll’. 'Ul‘. ‘L‘l" Ii. -{erred in ii the "Principal Cumprmll-s’", for the purpozt-« of your In' scheme ~. Vh: r<: InafIL-I referred in as The "SclienIcs’ , of rlic . aId l'l'1l'I(. lp3l(. ’)ITI]'I&£l'ut*. ’»Xl’Al". l‘l : r.h-: rn~~ were wlclj. uwited and accepted by the «aid Pnncipul (.4'Jl'l1P'dn)CS ln uihcr 'J"II(l) our r. urr. pmj. hm unlj. acted E1‘. :4 rcpxcscntaliw 'c'rInduIv fur jmiir guud-~. I.lf and nor uIhI: rnsL- '4': Alltgcd in '.0‘JX val vmcnv In vb: complaint. The allr_-garirin than we Iidviscd you 'alI'. .l or familj. lTIL'l'I)lAtX'I In rnzlurig Ll‘. ‘Id 11‘l'f: '! 'l‘IL‘l'lll‘/ I- are: !rIc". j r. lr: n:': ;' You yourself ui your ‘dill lcrltr have duel to n ~ l. v:n fur r. vr: ~ mar 4/» ‘. »;Ar Arid ': .«. elm‘; an lH&"*‘rLl. l', prI, s.. rr. prIr/ n that ll. -In’: viii: -rel. ‘ liz Ln ml had 1.’: com zl. u.nI: and or cr. rr‘. ccrn. 5 . l‘*~’IC1£1Y(: Ll '. x'IIlI our (. ’ll'YApHll: I '2'. -d with the: ‘-V. ‘1"-'1'“ rain 7 u . ml or rlfrllfjl . Icarn mcmlit-r~ not an uf p‘i. Ii. c Ir; fYlL‘n'l'IlI Ilm Ihc *churni: ~ iii’ the -. u.l l'r. ricIp; d f'. om; .»J. mc~ l1:lc(. l F)(: ll our ih-; :+: rI;1s ml h xou . iI. -.l Zuur '. .lfiLl'. members. 4. That It '. u<. -lu lit. thmugln in r«: p<.4.i: '.t: cundiuuns Including thr. Izm; Iii lI'Il’L‘[C'l of Iliu : CllCTYAC‘, In uzliir. 1 -d the m. nuiii‘ 3 for luglitl II‘Ili. ‘!(. 's[ rm ihi; ‘.1'I'v: $1Kncnl unriunl: Ii ' "U il’ul'.1.. ‘l'1l'£IT'Il5fll. EIPPLILAIIIIII iurm, cl». -.iIl'. voluriurtljr and. ’ or ‘nlhriglj. llI' would be pcmni. -nv l’l nACll1)’Jfl Ilmi riyhr . II ilic nine of ~. igiIiI. ',I the Scheme applicauun {arm ~ 7UUfidnt~, uf Ihc mid l’n. ncI; »ul vhc ~4Id l‘nmIp;4l l’. u:np. ui: :s. '. «‘w. Ir f. Lm. Il‘. -J hcI. cc th: and your fainilj; mcrrihcr: var, much '. Iu. irc ml the flIIJlIClJAl pmiririii Cmnpanses, the rate of Inn. -rut In llC | ”:'A1'. .l, rut-I*. ':d lij. from : ‘.c<; ord1nglj. ’, our (. umpr. Inj. ' M nu point in time did fun»; .iii; l or . .cl'. ‘Ic mu and UK fD¢'KT| lK: I'; In making the said mu. -sInIL-ni’s, '4> UllIl: f«‘)t. ' .1llL", 'lL‘Ll In uuur L‘IYl'I[il. Alli' icllur All in: nun. -d llidl our fxiiripuri‘. I~ . 'I’l&‘. t;'L'. .l III u| L: >lI"nL'nl >Cl''KCs urnc Lt ‘, U’lCll} 4'. ltI1l(. ‘(. l. li maj. kIndl', and even tn (lit: and helps ll‘; Llicnis. /IIivr: ~,IrIr. In tXu(_ul1n; ,g'{uLllllAlllI; ' 'J. ‘IIlI ll1L‘ll Invc-~lmL-III nc -cl) Instant use, our Ciimpair, only acted as '4 liauliinor and nut HllIi‘1"J~'| ~I. ‘ I 5¢mng10,00,000‘Investois I Since 1964 ‘, 'l__, ,« , ,(, ,,. ., _. u , , . v., r. . . . . ,4,» . ~.; ,«, .:» l| '|. lI 1.. ». uvutv -too luau-q flung“ gnaw IY»"(. ,’ «
  2. 2. ._. 5 ~ l unlirnnnxttc. . .v, t lllLl my aunt rmulx nv,1n| u;| ~ Jftrt haylng fully mttlvllcd h1mv: lfrhcr~e: lt . al. u»ut the t-1‘]l[‘L']J] . ,—. ”,, ,jm», md ~. Y,[l-ll]f' of th: _ ud l"nnc1p. tl f". r.»tnp. ame~, after h. w1t1gund€r<V0'rd the mC1'1f"/ .. { thc m‘c~tm»; nv [lid utter lmyirig rend md unt. lc‘rtnIvd the terms and cunclllzlt‘-I15 of the ud §, },‘. ,n, .,_ L, " 3“. her t>'n tccnrd, ln. ILlr: the and 1nvc. ~nnent(~> 1n the bcho. -mea of the said Principal t; ._»n~. p_um-. bx qgnmg the applic-. mon fonnrsl towards making the mud investment(s; and more so that the cheque ~ to'. trds the invested ztmountx were directly drawn in favour of the respective Principal Comp. my Our Compunv merely on your and ‘or your family members request forwarded/ deptmted mg Mud duly signed application fom1(_<n along with cheque(s) (invested amount) with the Principal (fon1p.1n_’uesl. 0. That the role, responsibility and/ or liability (if any) of our Company was over the moment, the Principal Company verified the contents of the duly signed application form(s) (signed by you and/ or your family members) and the documents attached to the said application form, issued the applicable certificate in the name of the investor and the said certificate/5 were directly sent by the Principal Comp.1ny(ies) to you and/ or your family member at the address provided for in your duly signed application form. That the repayment of the matured amount(s) and/ or interest as and when due were to be directly received by you and/ or your family member directly from the said Principal Company(ies) and that the contractual obligation to repay the said principal amount(s) and/ or interest lies solely with the said Principal Comp.1ny(ies). Accordingly, the .1lleg.2tions leveled on us/ our Company is far fetched, illegal and unjustified. It would not be out of place to mention that our senior team members were and are in continuous discussions with the Senior Officials of the said Principal Companies and drawing their attention to the hardships being faced by our clients for non—payment/ delayed payment of the amounts and we have been updating our team on a regular basis through our intemal communications. For your ready reference, we place below the updates having been received in the matter/ s: Name of the Com - an U dated Status M/ s Omnitech Infosoludons Limited As per the recent update available with us, the said Company has infonned its investors that they are in the process of moving an application before the Hon’ble Company Law Board, Mumbai Bench, seeking extension of time for repayment to its investors. Copy of the said letter is attached for your ready reference. Upon gaining knowledge of the said fact, we immediately put in place the draft Objection Letter and drculated the same for raising necessary objection on the said application. Should you require a copy of the said draft, please do let us know, we would be happy to facilitate the same. The said company had approached the Hon'ble Company Law Board, Mumbai Bench, seeking extension of time for repayment. The Hon’ble Bench vide its order dated 23/04/2015 has disallowed the M/ s Elder Pharmaceuticals Limited
  3. 3. M/ s Plethico Pharrnaceuticals Limited It may kindly be noted that our senior team me offlcials in the respective Principal Company(ies) and should you re prayer of the said Company and has directed the said Company to repay the amounts within seven days of the said order. Copy of the order is attached for our read reference. Upon certain number of applications having been filed with the l-lon’ble Company Law Board, Mumbai Bench, the Bench had directed the Company to make payment to all investors on or before 31/03/2015. Since, the said Company failed to comply with the said order/ s, we understand that the competent authority has initiated prosecution against the said Company and its Directors. As per the latest information available, we have been given to understand that the said company would release the amounts by May-June, 2015. The copy of the order is attached for read reference. mbers are in constant discussions/ touch with the senior quire any information/ update, you may directly get in touch with Mr. Mohit Mittal at . Should you face any challenge, please do not hesitate to get in touch with the undervnamed. Thanking you, Yours truly, V , , For Bajd ed "(W / ' P. ]£han “ . Sr. Vice President (Compliance) & Company Secretary Encta/ a

×