9911796707
TMI Blog1994 (1) TMI 214X X X X Extracts X X X X X X X X Extracts X X X X ..... ice of Enquiry (NOE) reads as under : "INVESTOR S.K. HORTICULTURE PROJECT A UNIQUE FINANCIAL FORCE TO GET TWO FOLD RETURN ON INVESTMENT. The vegetable and fruit industry has seen phenomenal growth over past many decades. S.K. Farms is fast upcoming commercial Horticulture project set up for more innovative schemes to get a good return on Investment. See below the equations how your money accumulate in two years and Tax-Free Too : InvestmentPeriodReturn Rs. 15,0002 yearsRs. 30,000 Rs. 30,0002 yearsRs. 60,000 Initial Payment Rs. 5,000 to Rs. 10,000 balance in interest-free instalments. OTHER ATTRACTIONS Repayment by post-dated cheques (After 1 year. After \Vi years and after 2 years) Land, located in Distt. Gurgaon. Repayable fir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proceedings and take further necessary steps for payment of costs to the other side. The order passed on 6-7-1993 in this behalf speaks for itself. The case was, accordingly, fixed for further consideration on 14-9-1993. On that day again, no body appeared for the respondent, neither the amount of costs was paid nor any steps were taken in pursuance of the aforesaid order. Accordingly, the ex parte proceedings remained intact and the case was fixed for ex parte consideration on 23-12-1993. 3. The D.G. (I & R) in the ex parte proceedings filed an affidavit of Shri C.P. Singh, ADG, coupled with certain documents by way of ex parte evi- dence. We have considered the same. In this case D.G. (I & R) had conducted a preliminary investigatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Respondent to the D.G. (I & R) during investigation would fail to convince any reasonable person that it is possible to earn 100 per cent profit on such an investment just within two years. It was open to the respondent to produce any instance where actually they have achieved the desired result and have fulfilled their promise of paying double the amount to any investor. The respondent has significantly chosen to remain absent even though it was given another opportunity to participate in the proceedings and lay bare its defence but the respondent did not avail of the opportunity to put in its defence. In these circumstances we are justified in presuming that the respondent has no data or evidence in support of its aforesaid promises. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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