https://www.taxtmi.com/caselaws?id=102497 Misleading representations that assured profits, risk-free dealings and capital repayment, when used to induce public deposits and left unfulfilled, were treated as an unfair trade practice under the Monopolies and Restrictive Trade Practices Act, 1969. The Commission found that the assurances were not honoured and were designed to attract investors, making the practice prejudicial to the public interest and investors. On compensation, it noted that the principal deposit had been returned and one amount was non-refundable, but the respondents had wrongfully retained the deposit for over two years. Compensation, interest at 18 per cent until recovery, and costs were therefore awarded under section 12B. en-us Mon, 06 Jun 1994 00:00:00 +0530 Tue, 02 Apr 2019 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102497 Misleading representations that assured profits, risk-free dealings and capital repayment, when used to induce public deposits and left unfulfilled, were treated as an unfair trade practice under the Monopolies and Restrictive Trade Practices Act, 1969. The Commission found that the assurances were not honoured and were designed to attract investors, making the practice prejudicial to the public interest and investors. On compensation, it noted that the principal deposit had been returned and one amount was non-refundable, but the respondents had wrongfully retained the deposit for over two years. Compensation, interest at 18 per cent until recovery, and costs were therefore awarded under section 12B. Case-Laws Companies Law Mon, 06 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102497