Court : Delhi State Consumer Disputes Redressal Commission SCDRC New Delhi
Decided on : Oct-22-2007
..... who were issued debentures at the agreed rate of interest are entitled to get an amount in terms ..... was no contract between the parties while issuing the debentures that in case company goes into liquidation or becomes sick the consumer shall not be entitled to any amount except through proceedings under company act or receiver or official liquidaotor. the remedy under sick company act is an independent remedy available to a company and not to the consumer and moreover the persons ..... of contract between the parties. where the company becomes defunct or sick, it is not attributable to ..... seek compensation for the deficiency of service or for unfair trade practice for mental agony, harassment, etc, neither the provisions of the companies act are applicable nor provision of section 22(1) of the sick industrial companies (special provisions ) act, 1985 are applicable. 8. in this regard, following decision of supreme court are noteworthy and are as under: iii. scope of .....Tag this Judgment!