Cheating
Mohan Duraisamy
(Querist) 16 January 2013
This query is : Resolved
Dear Sir,
A registered Educational Trust in Tamilnadu has allegedly collected lakhs of Rupees providing the false hope that each member can be a life time member of the above said Trust and thereby a partner of Engineering college that they will open. They said that,
1. If a person gives 10 Lakhs, It will be equivalent to one Share and will be given a life time membership of the trust.
2. For each membership, two children will be given free admission in the engineering college which will be opened by the trust.
3. In addition to that, each member will receive management seats every year along with employement for the family members.
So far they have collected the amount from many people starting from the year 2011. I am one of them. Once we paid the amount 10 lakhs, they didn’t include us in the trust nor refunded the amount that they collected.
From the collected amounts from us, they are constructing buildings and are applying for enegineering college approval.
From the trust they have given the Pamplet where they have mentioned benefits as said above. When we asked for Receipt, they gave mentioning they have received the amount as Corpus amount. I gave cheque for 5 lakhs and 5 lakhs in person. Now the only paper evidence I have is Receipt, mail communication between me and Trust secreatary and reply from CM Cell for my complaint where it has been stated amount will be given back to us in March,2013. But I am not sure if they will give the amount back because they say they recieved the amount as donation which is not true.
Can you please advice if it is possible to get the amount back legally and put the trust members in front of the Justice.?
Thanks,
Mohan Duraisamy
Adv.R.P.Chugh
(Expert) 16 January 2013
So Naive. Well, since it seems you have the evidence trail to support your claim, and the dishonest/fraudulent intention is manifest - insofar as they intentionally deceived you into believing that money is to be appropriated as membership for the trust, as opposed to donation. File a 420 case against them.
Sudhir Kumar, Advocate
(Expert) 16 January 2013
MEET YOUR LAWYER. PLEASE ALSO CONSIDER COMPLAINT TO SEBI OR CLB AS THEY HAVE OFFERED YOU MEMBERSHIP IN A COMMERCIAL CONCERN WITHOUT REGISTERING THE PROSPECTUS ON WHICH YOU RELIED.
Raj Kumar Makkad
(Expert) 17 January 2013
SEBI or CLB has no concern with the trust so better to wait till March 2013 and then only file a criminal case under section 420 IPC with a civil suit for recovery of money with cost and interest at the same time.
Sudhir Kumar, Advocate
(Expert) 17 January 2013
In this case they have in the garb of an educational trust sought membership of a company with mandate to run education trade. They have sought public deposits for the venture and issued a prospectus also. They have practically opened a company and made public issue.
In any case notwithstanding company law the case is covered under IPC 420
