2000 (6) TMI 769

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....AMRAH, MEMBERS   Lalit Thakur for the Appellant. ORDER Brar, President - Brief facts as stated in the complaint are that the opposite party No. 1, G.P. Forests Development (India) Ltd. (opposite party No. 1) is the head office of Non-Banking Financial Company with branch office at Patiala, i.e., opposite party No. 2. The complainant had invested money under Monthly Investment Sche....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....stry Company registered and incorporated under the Companies Act. The Securities & Exchange Board of India (for brevity SEBI) has issued guidelines for making repayments of the investors and sales of assets for repayment. The opposite party had already submitted its proposal and the approval of SEBI was still awaited. On facts it had been pleaded that the complainant joined the Monthly Investment ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....scheme to the complainant. The opposite party No. 1 was further ordered to pay interest @ 15 per cent p.a. from the date of maturity i.e., 29-9-1998 till actual payment. The complainant was also allowed costs of Rs. 500. 5. We have heard the learned counsel for the parties. We do not find any fault with the reasoning of the District Forum while allowing the complaint. 6. The opposite party N....