Sirs,
I want to know whether it is legal for an investment advisory company to follow no refund policy of huge amount of service charges taken by it from its clients for trading stocks etc. for a defined amount of profit, in case it has incurred losses instead of profits. The policy is only of three words i.e., no refund policy without giving any conditions, limitations etc. How to challenge this policy, if it is not legal. There are a number of persons, who have made part payments under various packages to the company, but are unable to make remaining payment and their amount is not refunded by the company. This according to me is not at all fair,as the no refund can apply only if the company provides the profits to its clients, and if no profits are provided, then no-refund policy also cannot apply. Kindly give your opinion.
