GOLDEN FORESTS (INDIA) LIMITED - NOTICE TO INVESTORS

    

COMMITTEE - GOLDEN FORESTS (INDIA) LIMITED

        NOTICE TO INVESTORS

The Hon'ble Supreme Court of India vide order dated 30th July 2018 read with order dated 5th September 2018, gave directions regarding disbursement of 70% of principal amount to the investors of GFIL & GPL.

" In the circumstances, we direct that 70% of the principal amount be distributed out of the amount of Rupees seven hundred crores to each of the investors; whose claims have been received by the Committtee......"

In accordance with the above directions, Committee GFIL has engaged 

 the services of an agency for disbursement of the amounts to the 

investors. Investors are informed through this notice that Web Portal for 

disbursement to the eligible claimants shall open on 1st October 2018 on 

the Committee's web-site: www.goldenforestcommittee.com and 

close on 31st October 2018. The Committee is not sending any 

individual notices by post.

26.09.2018 Committee Golden Forests (India) Limited, Chandigarh

FOR INFORMATION OF INVESTORS

Karvy Computershare is a specialized investor servicing company, engaged by

Committee-GFIL, under orders of Hon’ble Supreme Court of India dated 30.7.2018

passed in Writ Petition No. 188 of 2004.

Karvy Computershare has started the work of designing and setting up a special

web portal for disbursement to investors, as per Supreme Court order, through the

electronic mode. The task of disbursement is the responsibility of Committee GFIL and not Karvy Computershare. No communication should be addressed to Karvy

Computershare.

Every effort is being made to expedite the disbursement process in an efficient and effective way.

The web portal is expected to open in due course. The investors shall then be

asked to upload the details of bank accounts etc. The uploaded identity of each investor

shall be verified and thereafter disbursement shall commence.

                               

By order of Committee GFIL

13.9.2018

Main Points :

The SC orders refund of 70% of principal amount to Golden Forests investors.

Refund to be completed in three months with help of M/s Karvey Investors Services Ltd.

Refund of assured maturity amount to be considered later.

Rs 700 crore available for refund against Rs 900 crore principal amount invested.

The SC also sets up a three-member panel of senior I-T Department officials.

The committee will do valuation of the property to be sold for further refund to investors.