Does anyone know about Fixed deposit holders' case related to Morepan laboratories?
I am one of the deposit holders and haven't received the refund yet. I came to know that court has directed Morepan to issue equity shares but I haven't received the shares yet.
Is anyone in same boat? Has anyone received the shares?
12 December 2009
To know the current status, you should call the company directly and talk to the Company Secretary or the Compliance Officer of the Company.
13 December 2009
Thanks for the reply but how can you even think that companies like Morepan will give straight and to the point answers on phone. If the company was so honest the problem of refund would have not arisen at the first place.
I called few times but Morepan isn't giving a date for issuance of shares. No answer to such emails either.
So I would like to know from others if they are in same situation or probably the company is issuing shares on case by case basis. In latter case I would have to put some pressure on the company.
16 December 2009
File your complaint on-line on the MCA website. Also file a complaint with the SEBI and BSE, if the Company is not responding to your query.
Morepen Lab has good products under its basket. The whole problem started when the main promoter died and the sucessors could not take it forward properly. Then came up the issues or over-leverage.
CAclubindia
