Vatsa tops NSE complaint list

Meanwhile, in a case filed against the Vatsa group by a group of investors in a Mumbai court, the complainants have alleged that the company has failed to pay any interest or principal on its various deposit schemes. The company has apparently defaulted on its fixed deposit repayments.

However, the balance sheet of Vatsa gives a ridiculous picture about its finances. The balance sheet published by Vatsa Music — a group company — as on January 31, 2000 showed the net paid up equity capital as over Rs 522 crore. The total income stands only at Rs 21.90 crore but its “reserves” amount to a whopping Rs 3078.46 crore.