Legal Question in Investment Law in India

Adventure Country Resorts Limited

07 Jul 2006

Sir,

I invested Rs 4000 ( Four Thousand ) at Adventure Country Resorts Limited Mumbai in 31 Dec 2000 and obtained Preferenceial shares on private placement basis. Detail as follows:

Appl.No. : 860326

Series : B

Folio No.: 80 30192

No of shares : 40

Certificate From 396014 to 396017

Dist. No From 3960131 to 3960170

No of Certificats : 4

The Company also enclosed 6 nights Adventure Holidays Coupon Worth Rs 9600 which is encashable when not used.

I have with me Shares Certificates, Adventure Room Coupons and the relevent letters (original) duly signed by company directors. When I wrote to the company in December 2002, my letters came back undelivered. On personal enquiry I found that the company is closed and disappeared. Some others like me with larger amounts have advised me to file a case at Bombay High Court.

can you take the case or recommend any one to help me out of this problem. ADVENTURE COUNTRY RESORTS LIMITED REGD OFFICE: Prabhuta , 21 Hughes Rd Mumbai


Asked on 8/07/06, 1:38 am

1 Answer from Attorneys
Jitendra Kumar Kumar Pandey & Co.

Re: Adventure Country Resorts Limited

Since the company is no longer in existence, and it is out of business, if you initiate legal action, where the notice of your legal action will be served remains unanswered. For Rs.4000/-, if you plan legal action then the legal cost would be much more than that. Since you have been an investor, you are required to find out the status of the company from the office of Registrar of Companies as to whether its registration is still valid. If the answer is yes, then instead of filing a suit before Bombay Court, you should make a representation before the concerned company law board and SEBI, which are situated at Mumbai. Better you forget your claim as to much litigation and legal cost is involved.

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Answered on 8/07/06, 6:55 am


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