Rakesh Mayor & Another vs M/S Vigneshwara Developers Pvt. … on 23 July, 2015

1. The present suit has been filed by the plaintiffs under Order
XXXVII CPC for recovery of a sum of Rs.95,48,687.50/- along with
interest @ 18% p.a. against the defendants.
2. Brief facts of the case as stated in the plaint are that the
defendant No.1 is a private limited company and defendant No.2 and
3 are the directors of the defendant No.1 who are responsible for
managing the affairs of the defendant No.1.
3. It is stated that defendant No.1 was allotted a land area of 10
acres on Industrial Model Township (IMT), Manesar, Gurgaon for
development of Information Technology Park (IT Park) to promote IT,
ITES, communication technology, biotechnology and nanotechnology
and other frontier technologies. Subsequently, the defendants invited

investors from general public, through advertisements in newspaper
and through other advertising mediums (namely Project Brochures,
etc), to invest and/or buy space in above referred project.

Source: Indian Kanoon

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