Legal Question in Business Law in India

Dear Sir,

I had invested in a Mutual Finance (MF) company somewhere in 1992 , and due to the change in the Scheme's Name and due to my frequent transfers, I had lost communication and track on my Investments with the said Mutual Fund Company, after more than one and a half decade I could eastablish commincation with the said MF, and tried to dig my investment details with my change of address and KYC details, I was informed that the scheme in which i had invested was mereged to a new scheme,and the said MF in tern sent me the new Folio no with the latest a/c statement.

As I was in need of funds I applied for the redemption of the units as per the statement provided by the MF.

After Two years the said MF filles a case of recovery that they had provided a Wrong Statement of Account of my Investment , and they have incurred Losses due to the Wrongful Redemtion ; However I have checked their 2 years Balance Sheet, Auditor's Report also the various Statutory Reports - Board of Director's Report (With Director's Responsibility Statement), Trustee's Report etc , Where the so claimed of Wrongful Redemption and the Losses there after as claimed by the said MF does not reflect in their Profit & Loss and Balance Sheet nor is being stated in any of the Public Document & Statutory reports.

Sir, Can you kindly help me in you able advise and inputs as to how do i tackle this case by citing a few past cases - where the Court has relied on the Company's Statutory Documents or the SEBI's or ICRAI norms.

Regards

Rahul Shivshankar

[email protected]


Asked on 1/17/13, 6:31 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

18.01.2013

Dear Rahul,

You have a strong unique case.

Please ensure you reply to the notice and furnish all the facts (Statement(s) you received from the Mutual Fund Company and the entire trail of your correspondence with them) in person before the sitting bench in the matter as and when it comes up for hearing in Court.

For all you know, you might set a precedent in the matter; past cases may not be relevant.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 1/18/13, 1:21 am


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