LAMBERT KROGER Vs. NCT OF DELHI

JUDGEMENT

(1.) It is an unfortunate case. Petitioners who are German National came to this country to do business but instead landed themselves in jail for having flouted the Indian Law against "Money Circulation Scheme" and Prize Chits"for attracting innocent people into pumping money with them in a Scheme floated by them showing greed of a Canadian Golden Coin known as "Maple Leaf"

(2.) Short question involved for determination in this petition is whether terms of the agreement for contract of sale fall within the mischief of "Money Circulation Scheme" as contemplated by Section 2(c) of the Price Chits and Money Circulation Scheme (Banning) Act, 1978 or falls within the ambit of "Price Chit" as envisaged in clause (e) of Section 2 of the Act.

(3.) According to the petitioner, he was engaged in the business of sale and distribution of Canadian Gold Coins which are referred as "Maple Leaves". This agreement was thrown open to the persons who were desirous of entering into agreement for sale of gold coins in accordance with the terms of marketing plan of the seller. The relevant terms of the agreement for contract of sale are as under:-