Consumer Redressal Forum impose fine on Investment Company
The district consumer disputes redressal forum has directed a company to give Rs 10,500 to an investor, as promised before taking his money.Updated: Jul 03, 2013 22:23 IST
The district consumer disputes redressal forum has directed a company to give Rs 10,500 to an investor, as promised before taking his money.
Inderjit Singh, a local resident, had complained that OVI Marketing Company (P) Ltd had approached him and pursued that if the sum of Rs 5,500 is deposited with their company they would return Rs 1,250 per month for a year and on an investment of Rs 7,500, the monthly return would be of Rs 1,500 per month.
“A profit of 10% was also assured, if I referred another person to them. I paid Rs 5,500 by cheque with OBC branch on September, 2012. I allured for another scheme. After a few months, there were repeated delays in credit of the amount.”
Soon, the credits stopped coming and they stopped responding to our queries. The investment company failed to appear before the forum and the decision to refund the investor's money was taken in an ex-parte manner. The form has also directed the company to pay Rs 2,000 as compensation and litigation expenses.