“My funds were in a private bank, and a branch manager from Muthoot told me about an investment opportunity. Molly Mohan, another investor, said she invested ₹5 lakh each in the name of her two sons and is awaiting repayment. Meanwhile, investors said they feel disappointed with how Muthoot has treated them after years of association. “The repayment of interest/principal of Srei NCD will be decided by the committee of creditors (CoC) headed by the Reserve Bank of India (RBI) administrator," he said. Bijimon, executive director and chief operating officer, Muthoot Finance, said in an emailed statement.īijimon said Muthoot Securities, under an arrangement, utilized the branch network of Muthoot Finance to collect the application forms and cheques from investors who invested in the NCDs of Srei Equipment Finance. Muthoot Securities Ltd acted as one of the brokers in the public issue of NCDs made by Srei Equipment Finance Ltd," K.R. “Neither promoters nor directors of Muthoot Finance or any of the companies within the Muthoot Group has a financial interest in Srei Equipment Finance Ltd. Investors said they later found out about Srei’s insolvency and have decided to gather as many affected people as possible to file a writ petition in the Kerala High Court. Mathew said she tried to meet top company executives in December 2022 but was told to wait a few months. When the amount was not credited to her bank account after the bonds matured, Mathew contacted Muthoot and was informed that her money was in Srei NCDs.
“My husband and I together invested ₹34.7 lakh under the impression that we are investing in Muthoot," said Mathew, a 59-year-old retiree. In 2018, Mathew said she received a call from an employee telling her about an investment opportunity with high returns. Susan Mathew, an investor from New Delhi, said she first took a gold loan from Muthoot in 2009 and has been a customer ever since.
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