At the time of offering membership & collecting Lakhfrom each towards fee & charges, transferability is assured. Now after so many years of using members payments free of interest, the charges for transfer cases have been so worked out as to leave option of only refund of security. But refund of security is not the same as transferability of membership. Why describe as transferable what is not so in real sense? How can fresh membership fee & collecting Lakhs from transferee, be justified? If Jaypee mops up everything, what is left for the member from whom Lakhs were taken & transferability assured.
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