E-Paper
Ludhiana: Sahara India to shell out ₹8.54 lakh along with compensation
The commission, led by President Sanjeev Batra ordered Sahara India and the officer in-charge of the Ludhiana office shall be jointly and severally liable to pay the maturity amount along with interest 8% from March 28, 2020, till date of actual payment
The District Consumer Dispute Redressal Commission directed Sahara India and the officer in-charge of the Ludhiana office to jointly pay ₹8,54,186 as maturity amount to a city resident for deficiency in services.
The forum has also ordered the firm to pay 8% interest and ₹10,000 in compensation.
Charu Malhotra, a resident of Rose Enclave, College Road, Ludhiana, filed a complaint on May 27 under section 35 of the Consumer Protection Act seeking payment of maturity amount of ₹8,54,186 with interest 24% per annum along with compensation of ₹5,00,000 and litigation expenses of ₹55,000.
Charu stated that she purchased a fixed saving certificate from the opposite parties. On March 16, 2022, she visited the office of the opposite party in Ludhiana and requested a vide application for withdrawal of the said certificates. On March 17, 2022, she also posted a copy of same requesting to the withdrawal of saving certificates in her bank account
Further, she mentioned that she had attached a canceled cheque and other necessary documents, along with a copy of the savings certificate. However, despite providing all the required information, the savings certificate was not cashed out and the funds were not transferred to her account.
The commission, led by President Sanjeev Batra ordered the opposite parties shall be jointly and severally liable to pay the maturity amount along with interest 8% from March 28, 2020, till date of actual payment.
Notice to the opposite parties was sent through registered post on June 11, 2022, but none appeared on their behalf.
The commission ruled out that a total of ₹7,29,450 was invested by the complainant with the opposite parties. The said amounts were to be matured on March 28, 2020, as per the said certificates. The total maturity amount comes to ₹8,54,186 which the opposite parties have failed to pay the same to the complainant.
