RESPECTED SIR,
Pl PAY PARTICULAR ATTENTION
GOOD DAY.
PL. WE REQUEST TO GOVERNMENT AUTHORIZED BODY TO PAY PARTICULAR ATTENTION AND JUSTIFIED AND LEND US A HAND FOR THE CASE AND HELP US. PLEASE TAKE THE REQUIRE ACTION AGAINST THE COMPANY’S MANAGING DIRECTOR MR.DINESHBHAI PRAHLADBHAI PATEL (9824000658, AND 9574002848) AND HIS VALUABLE VALUER ‘’’
We purchased the unit from M/s.Golden Tree plantation Ltd, 12 - Shefali Center, Paldi, Ahmadabad, Gujarat 380006. Tele.6579163 (O), Cont.no. Mobile 9824000658 and 9574002848.
Mr.Dineshbhai Prahladbhai Patel, Managing Director of M/s Golden Tree plantation Ltd, Cont. no. 9824000658, and 9426051207, Email address, dineshpatel0803[at]gmail.com and deep_16265[at]yahoo.com (deep_16265).
Date of purchase: 02/09/1994.One unit value at the time of purchase: Rs. 550.00, Unit certificate No.31200: Total units purchase: 05. One unit value After Maturity period: Rs. 85000.00.Due date of Maturity period = 02/09/2009. (15 years as per allotment letter). Submit document for refund (after Maturity period+03years) = 05/07/2012. We have 5 units of golden tree plantations ltd. In response to we have surrendered our documents on 05-7-2012. The realization of a tree expected by the company was Rs 85000.00 per unit. At the time of collecting money from the investors. However the company has actually valuated only Rs.1100.00/unit instead of Rs 85000.00 per unit after 18 years. This is highly unjustified and unreasonable. The company has offered explanation that it was social work (how it can be… And which type of social work?) And therefore realizations were less but the company has never mentioned that they were doing any social work in the offer letter issued at the time of accepting money.
The Maturity Period was 15 years as per allotment letter but company never considered 15 years the company considered 18years (I purchased it in Sept.1994) now after the maturity period they suppose to give us Rs.85, 000/unit (total Rs.85000.00*05=Rs.4,25,000.00)+03 year interest as per rules.
However, they denied to give us the amount which was been promise to us when we purchased it. And they are making fake stories like forest department has not given them permission to cut the tree which was planted. Now I received letter from G T P L. dated 18.05.2012, forest department has give them permission to cut the tree.
As per massage from other investors, the company paying maturity amount only Rs.1100.00 in place of Rs.85000.00/unit under direction and instruction of Government approved veluer, the value per unit (Rs.550/- per Unit) how it can be…? How can the valuer considered the value of 18 years old teak tree (the height of tree is 80’&circumference 34” so radius =0.45’hence the size=50.8Cubic Feet) only Rs.1100/unit.So nobody can ask to them how many value of 1CF.teak tree in the INDIAN market. Who is the valuer? Which type of valuer? Government approved or authorized valuer or unqualified valuer
The company was not redressing the grievances of the investors with regard to the return of the dues. It has failed to take any steps to redress the same. Pl considered and justified. And should live up to expectation.
ONE teak tree=50.8CF. (As per company’s calculation) and in the INDIAN market the price of teak wood more then Rs.2250 to 2750.00 per 01.CF, (variable), to day on 12/03/2013, in Gujarat.
ONE teak tree=50.8CF.* Min. value Rs.2250 = 114300.00,*05(unit) =???
So we are considered minimum Rs.114300.00*05=571500.00 Expected value of one unit as per government approved valuer, and the value may be increase or decrease only 05% to 10%. In the market.
We all unit holder are waiting for positively action against to M/s Golden tree plantation ltd. Thanks,
For All Unit holder, M D Parmar(Unit holder)