Per J.N. Prabhudesai, Member.-The complainant is an association of investors in the deposit and other schemes of the opposite party duly registered under the Societies Registration Act. The opposite party company is incorporated under Companies Act, 1956 with the Registrar of Companies. Karnataka and having their Branch Offices in various cities in Goa.

2. Briefly stated it is the case of the complainant that the opposite parties through various hand outs press statements and publicity introduced a deposit scheme known as "Manipal Finance Corporation Ltd.," and invited applications from the public. The deposit application form contained various terms and conditions; one such condition stipulated that in case of any deficiency in selvicing the deposit, the depositor could approach Forums set up under the Consumer Protection Act for relief. The members of the complainant held various deposits in the opposite party - company.

3. The opposite party - company closed down their business in Goa without any reasonable cause and refused to refund the deposits to the depositors. Instead the opposite party - company approached the Company Law Board seeking its guidance in the matter; howev