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Report No. 143

2.4. Analysis of Responses.-

The Commission addressed more than 200 companies in this context. The Commission, however, received responses from only 93 companies. The responses from these companies reveal that there are about 45,000 cases of deposits lying un-refunded by them. Of these un-refunded deposits only about 900 relate to deposits exceeding Rs. 11,000. It means that 98% of the deposits remaining unpaid by these companies relate to the small depositors whose amounts are in the category of less than 11,000.

The total amount due for repayment by these companies is about Rs. 20 crores 28 lakhs. It is startling that out of this total amount, Rs. 17.50 crores, i.e. about 86% of the total dues are referable to small depositors falling in the category of less than Rs. 11,000. The survey conducted by the Commission in relation to non-fund of company deposits on the basis of the information furnished by the various companies, is at Appendix 'B'.



Legislative Safeguards for protecting the Small Depositors from Exploitation Back




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