Shyam Ahuja

Other family members have set up offices and bought houses in Dubai and London," alleges Shyam Ahuja, President of the Mumbai Depositors and Finance Brokers' Welfare Association.

The company informed the stock exchanges that following directions of the Bombay High Court, a meeting of the equity shareholders, unsecured creditors, non-convertible debenture holders and fixed deposit holders will be held on June 25 for rescheudulement of the fixed deposits and loans. ‘‘We oppose this seven-year reschedulement as small investors will be hardest hit," says Shyam Ahuja, secretary of Mumbai Depositors and Finance Brokers Association." What is the guarantee that this company will be in existence five years from now," he asks. ‘‘The company should sell its assets to pay off the small investors," he said.