UDMI UPBHOGTA VIKAS PARISHAD Vs. MANAGING DIRECTOR, FOREST INDIA LTD.
MONO POLIES AND RESTRICTIVE TRADE PRACTICES COMMISSION
UDMI UPBHOGTA VIKAS PARISHAD
MANAGING DIRECTOR, FOREST INDIA LTD.
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Sardar Ali, Acting Chairman -
(1.) THIS order will dispose of an application of complaint under Section 10(a)(i)/36B (read with Section 2(o)(ii), 2(r), 2(t), 36A (i)(ix)(ii) and 38(h) of the Monopolies and Restrictive Trade Practices Act, 1969 and under Rules 10A, 3(B) of Non -Banking Financial Deposit (Reserve Bank) Direction Rule, 1977 and Injunction Application under Section 12A of the Act.
(2.) THE complainant is a business association and has filed this complaint through its Secretary, Mr. Vinod Kumar Sharma. It has been alleged that the respondents 1 and 2 have issued their brochure putting therein the rosy picture of their attractive returns on the investments with them. According to the complainant the respondents have assured high returns to its investors namely 15% to 24% on monthly basis which according to the allegations of the complainant are false and misleading which attracts the provisions of the MRTP Act. It has been further alleged that the respondents are indulging in the Unfair/ Restrictive Trade Practices. In the complaint, it has been prayed that the inquiry may be initiated and cease and desist order may be passed against the respondents No. 1 and 2.
On 21.8.96, after hearing the complainant the notice of both the applications were issued to respondents and applications were fixed for hearing on 30th October, 1996.
(3.) IN response, the respondents appeared on 30th October, 1996. At the request of respondent Nos. 1 and 2 three weeks time was allowed to file the reply, but the representative of respondent No. 3 filed reply in the from of letter dated 25.10.1996 signed by Shri B.D. Sapra, General Manager, Reserve Bank of INdia. The reply of respondent No. 3 was served to other side. Since the reply filed by respondent No. 3 was not found in order, they were directed to file an appropriate reply.;
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