Jurisdiction

Querist : Anonymous (Querist) 11 November 2009 This query is : Resolved
A Private Limited /Limited Company recieved deposits from General Public and failed to repay /return the Deposits to the Depositors.

In AP-Under Protection of Depositors Act- The Dist. Collector ( in Districts) and Commissioner of Police ( in Hyderabad ) are the Competent Authorities to deal with claims of the Depositors against the Trader /Firm /Person who received the deosits

I request the opinion -
Whether the Company Registered under Companies Act, can dispute the Authority of the District Collector under Depositors Protection Act, if a claim is made against the said Company before Distirct collector !

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A V Vishal (Expert) 11 November 2009
PLZ POST ALL THE RELEVANT DETAILS, THE QUERY IS TOO GENERAL TO BE ANSWERED.

Raj Kumar Makkad (Expert) 11 November 2009
The authorities mentioned by you have been empowered under specific Act as you mentioned so the defaulter company cannot chellenge their authority only on the base that they have decided any matter against it. Had the company any objection against those authorities, it would have been better for it the challenge the Act before High Court and would have got it nullified on the reasonable ground but this is not an appropriate stage when the company itself is a defaulter and wants just a way out to tackle the situation. No chance at all.

adv. rajeev ( rajoo ) (Expert) 12 November 2009
I go with Raj.

adv. rajeev ( rajoo ) (Expert) 12 November 2009
Even vishal has rightly sought for the details.
Itz necessary to know the terms and conditions of the company, jurisdiction & arbitration clause etc., I agree with him also.