VINOD KRISHAN KHANNA Vs. NEHA EXPORT LTD.

JUDGEMENT

(1.) THE present case relates to the suit for recovery of Rs. 9,36,000/ - (Rupees Nine Lacs Thirty Six Thousand Only). The brief facts of the case are as follows:

(2.) THE Plaintiffs, Non -Resident Indians, residing at 49, Abercorn Crescent, South Harrow, Middlesex HAZ OPX, England (U.K.) The Plaintiff No. 2 Along with Plaintiff No. 1 applied for issuance of shares of Defendant No. 1.

(3.) THE Defendant No. 2 is stated to have induced the Plaintiffs, vide his telefax dated 05.06.1996, for subscribing to the NRI share for Neha Export issue. In the aid telefax, Mr. Anand Gaggar, the Defendant No. 2, made representation to the effect that 20% deduction is available on capital gains on the sale of Viniyoga Clothes shares and thereby induced the Plaintiffs to send two cheques of Rs. 3,00,000/ - each for applying for 20,000 shares.