NCDs

Your point of argument is good. Go on pleading that case effectively. State Commission definitely hear your point of view and I think it is your right to have interest at the accurate time from the company and no one can ignore it and the defence of the company is very weak.

Thanx, sir. However, the only hitch is the sanction of the Scheme of Arrangement by Hon. Bombay HC u/s 359 Companies Act. The appeal in the State Consumer Redressal Commission is still pending. The oponent advocate is still harping on scheme of arrangement. My say is that when the Co. circulated a letter requesting extension of the investment, no revalidation of the original NCDs was done and the assent of the invesator was also not sought. How can Bombay HC give a verdict on NCDs which must be, as a rule, protected by a security of the equivalent value? There is also a law regarding appointment of trustees in case of Non-convertible debentures. All these were flouted by the Co. and still the Bombay HC gave the verdict in Co.'s favour and many  investors are cheated. Do you have any case-law on this?