Indian Express
June 18, 2003
George Mathew and Santanu Ghosh
Mumbai/New Delhi -- Heard of Maharishi Vedic Construction Company or Golden Glades? Not unless you are one of those unfortunate investors who put money into this company named after Maharishi Mahesh Yogi - popularly known as The Flying Swami.
It is another of those plantation companies which mopped up money from the market with clueless investors falling for their tall claims on high interest returns ranging anywhere between 18 to 24 per cent, and left their investors high and dry.
Hear this real story: Vishal N. Kulkarni, a Mumbai-based retail investor, is a worried man. His investment of around Rs 25,000 has remained stuck in Golden Glades for the last several years. Kulkarni is one among the 800 investors who had invested in Golden Glades and yet to get back their dues.
This is despite assurances from the Maharishi Group, the current owners of the plantation company that money would be given back to the investors. "When Maharishi Mahesh Yogi's followers took over the company, I thought the company will return my money. But it has not happened,'' Kulkarni said.
June 18, 2003
George Mathew and Santanu Ghosh
Mumbai/New Delhi -- Heard of Maharishi Vedic Construction Company or Golden Glades? Not unless you are one of those unfortunate investors who put money into this company named after Maharishi Mahesh Yogi - popularly known as The Flying Swami.
It is another of those plantation companies which mopped up money from the market with clueless investors falling for their tall claims on high interest returns ranging anywhere between 18 to 24 per cent, and left their investors high and dry.
Hear this real story: Vishal N. Kulkarni, a Mumbai-based retail investor, is a worried man. His investment of around Rs 25,000 has remained stuck in Golden Glades for the last several years. Kulkarni is one among the 800 investors who had invested in Golden Glades and yet to get back their dues.
This is despite assurances from the Maharishi Group, the current owners of the plantation company that money would be given back to the investors. "When Maharishi Mahesh Yogi's followers took over the company, I thought the company will return my money. But it has not happened,'' Kulkarni said.
