Legal Question in Legal Ethics in India

1. I did invested Rs. 2,50,000.00 in Fixed deposit of M/S. Ind-Swift Laboratories Ltd., Panchkula, Chandigarh.

2. Company Issued Post dated cheques of Rs.2,50,000.00 as Principle re-payment and Rs. 28,650.00 as Post maturity Interest payment.

3. All these cheque bounced back when deposited on the date of maturity by me in my HDFC bank a/c at Renukoot, Uttar Pradesh.

4. We sent an intimation notice and legal notice through an advocate at Renukoot with all the documents copy as proof to the defaulter company.

5. In the mean time the defaulter company approached Company Law Board, regional branch, New Delhi (Hon'ble member Shri Dhanraj and Bench Officer Shri Premchand) and filed petition before the Bench that the company�s financial condition at this moment is not good due to heavy loss in this financial year and urged to re-schedule payment in Five years as per the Extract of operative part of the judgment given on 30th September 2013 sent to us by defaulter company.

6. It is painful to note that the Company Law Board has given so much Flexibilities to defaulter company that they will hold our Post Maturity Interest for five years and also the all the interest payable on the principle amount for five years. They will not pay any compound interest on both these interest part.

As per me, The Judgment given by Company Law Board needs to be challenged in Delhi High Court as this judgment do not protect interest of the Fixed depositors but rather than biased to Defaulter company and give so much flexibility to a defaulter company who has committed crime of Dishonoring cheques as per Negotiable instrument act.

I cannot fight for the justice in high court, New Delhi as the legal service fees of advocates and legal court Fees are so high that I cannot afford to bear. Also I am located in remote place of Uttar Pradesh, Renukoot, Dist. Sonebhadra, that I cannot appear frequently to the High court. How can I fight for justice in economical way against the Company Law Board Bench as well as defaulter company.

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