Monopolies and Restrictive Trade Practices Commission Mrtpc Court February 2002 Judgments Home Cases Monopolies and Restrictive Trade Practices Commission Mrtpc 2002 Page 1 of about 1 results (0.046 seconds)

Director General (investigation Vs. Rockland Leasing Limited

Court : Monopolies and Restrictive Trade Practices Commission MRTPC

1. The present order would dispose of both the complaint as well the application filed in UTPE No. 5/92 and C.A. No. 73/92 by the DG/ applicant respectively under the relevant provisions of the Monopolies and Restrictive Trade Practices Act, 1969 (for brief the Act).2. The respondent is a non-banking financial company carrying on the business of hire purchase, leasing and housing finance. It raised funds through floating a deposit linked housing financing scheme where the deposit of 25% of the total amount qualified the depositor for a specified sum of housing loan. The aforesaid amount paid could either be adjusted in the repayment of loan or to be refunded back to the depositor/applicant in case of loan not availed of. No interest was to be paid on the refund of the deposit before a period of 24 months. On complaints received from Shri M.L. Jain and Shri R.C. Chatrath that despite fulfilment of the conditions, the refund of the amount as deposited were not paid back, the DG carried ...