Tata Motors FD: Registrar's error, company silent

Discussion in 'Investors Grievances' started by greatindianwiseman, Sep 8, 2009.

  1. greatindianwiseman

    greatindianwiseman Member

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    My grandparents, who are senior citizens, have fixed deposits with Tata Motors as they were offering extra .5% interest to senior citizens.

    The issue is that inspite of clearly indicating in the application form, the registrars goofed up and issued FD with 'GENERAL' status instead of 'Senior citizen'.

    After a lot of emails and letters to the registrar, and also later to Tata motors Investor Grievances, they corrected their error. We had to send, at our own cost, the FDs to the registrars for 'correction' of category and rate of interest.

    Now we wrote to them several times, to pay us the difference between the General rate and the Senior Citizen rate for the period before the correction was made. However there is no reply at all - not even from the Investor Grievances section.

    What should we do about this now?

     
  2. startrade

    startrade Member

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    If the money lost due to error is significant then send a legal notice to the CEO of the company through your lawyer. Tell him that you plan to file a case for cheating under section 420 among others. Chances are that they will send you a cheque for differential amount soon without further trouble.

    If the amount is small then send a written complaint to commissioner of police of your town by registered post A.D. In some big cities like Delhi there is a special wing of police known as "Economic Offense Wing" or EOW. Search in google to see if any such police department exists in your city. If yes, then send the letter to EOW. Send a copy of this police complaint to the company. This is a sure method to bring such careless companies in-line without spending too much money.
     
  3. priyadev

    priyadev New Member

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    I too have a similar horrid experience with the registrars of Tata Motors FD - Linkintime India Pvt Ltd. My FD matured in Apr 2010, but am yet behind them to get my refund. There were a series of errors and I had to threaten to go legal when I finally received my refund amount on Sep 2010. The interest warrant is still missing and I wonder how much more time they will take.

    Their phone lines rarely connect or respond; I have to try for days before I can speak to an official from the FD section. Even though they say they need 7 working days to respond to a request, my experience says that it has never been less than a month. I had to spend lots of money to send the documents (multiple times) by courier to their Mumbai address.

    I wonder why reputed companies like Tata Motors go for lousy registrars like Linkintime. If anyone knows of a place where you can register a feedback pls let me know. I am so pissed off with how much money and time I have to spend to their inefficiencies
     
  4. priyadev

    priyadev New Member

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    I just found this - a vast complaint pool for linkintime and tata motors.
    http://www.consumercomplaints.in/?search=linkintime

    Also many other websites flooding with similar complaints. Just use Google and you can see. My advise to anyone looking out to invest in Tata Motors FD (or any similar scheme for that case) to do a thorough research before you make the decision. I have lost more money than I have gained.
     
  5. sreekant_001

    sreekant_001 New Member

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    I am also a victim of Tata Motors Fixed Deposit.

    Had invested Rs. 20,000/- Receipt No : 604667 on 15/04/2009 for 12 months.
    This got over on 14/04/2010. I have signed and sent the FDR to the address provided : LINK INTIME INDIA PVT LTD - BHANDUP.

    Its been more than 2years and I have not received the amount back.
    Neither Interest nor the Principal amount I have recieved.

    Now I see The Registrars to the Fixed Deposits Scheme have been changed from M/s Link Intime India Private Limited to M/s TSR Darashaw Limited.

    Numerous emails to tmlfd@tsrdarashaw.com and phone calls to 022 6656 8484 as provided in http://www.tatamotors.com/investors/contact/register-transfer-agents.php are of no use. No one are picking the calls or responding to emails.

    Please suggest.

    Thanks,
    -Sreekant P.
     
  6. money_honey

    money_honey New Member

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    Mera bhi nahi aaya
    fixed deposit ka reciept bi nahi aaya
    agar aaplog mein se koi mumbai mein rehta hai toh wahan ka tata house or tata centre or bombay house visit kyun nahi karta..
    Please reply here
     
    Kedarnath likes this.

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