I have purchased teak woods from Sterling way back in 1994.
Today in 2008 I get an offer
1. get the same amount, no interest , no dividend nothing
2. Give your consent to wait for another 15 years so that the teak trees will grow and I will get my money.
In 1994 it was large amount of money. Not only me, I convinced my wife to invest.
What a fanfare then- full page advertisements came in all national newspapers- it was a dream investment- teakquity- you retire in peace, you get so and so and so.
You get interim dividends as well. Well dressed sales boys came to convince us-we are fools we don't know what we are missing. Its an one time opportunity. Buy teak. Buy buy buy.
Then years passed....
No news, nothing happened.
The same company flourishing its business in other fields , selling time share - no body complained. No regulatory body came in rescue of hapless investors.
I lost all hope. Even now.
Just today received a letter to give options. I mentioned the options on top of this post.
I decided to reject.
Why after 15 long years I get only my money back?
What value this money has today? Why they can not sell their lands, business everything and repay us our money with full interest. Why why why?
I feel pity for those gullible investors who have invested lakhs of Rupees.
How come this company is getting away by paying peanuts? How ? Who will answer that?
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