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'Ponzi agents not liable after contract is signed'

DNAHM117833 | 1/3/2018 | Author : DNA Correspondent | WC :166

Gujarat State Consumer Dispute and Redressal Commission (GSCDRC) has rejected an appeal reasoning that agents can't be held liable to pay compensation when the contract of investment is signed between the investor and the company and when there is no evidence on record to state that they were agents. Secondly, the contract is signed in New Delhi and it does not fall in its jurisdiction.
Judicial bench of members VM Chaudhary and MD Gadhvi while rejecting the appeal of Meenaben Tandel observed, "The MoU produced by the appellant is between her and the M/s Rcs Property Investment.Com, New Delhi. Nowhere, the document states that Naresh Desai and Venilal Garasiya are official agents of the company. So, it can be said that the tw
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