Consumer forum orders Unitech Ltd to refund Rs 7 lakh

Mubarak Ansari
Saturday, 23 December 2017

Pune: The district consumer forum has ordered Unitech Limited to refund Rs 7 lakh to an elderly woman, who had invested the amount but didn't get the maturity amount.

Pune: The district consumer forum has ordered Unitech Limited to refund Rs 7 lakh to an elderly woman, who had invested the amount but didn't get the maturity amount.

Rekha Stanley Maben, a resident of Wanavadi, had filed a complaint in this regard. The company based in Gurugram, Haryana, had induced the complaint, a widow, to invest money for a guaranteed 12.50 per cent per annum interest to be paid quarterly. She had received two fixed deposit receipts for a three-year period. The company paid quarterly interest for the period July 2013 to January 2015. However, after that, the company abruptly stopped payment of interest. When the complainant asked for the maturity amount in July 2016, the company didn't refund her the maturity amount and accrued interest thereon. 

The Forum issued a notice to the company, based in Gurugram in Haryana, but it did not appear before the forum. Hence, the forum issued an ex-parte order against the company and found it guilty of deficiency in service.

“From the bank account of the statement of the complainant, it is evident that she has received interest component for the period up to January 2015. However, thereafter, no interest is paid to the complainant after the lapse of a period of three years, maturity amount is also not paid by the company. It is our considered opinion that the company has caused a deficiency in service by not paying assured interest and by not refunding the maturity amount,” states the judgment. 

The company has been ordered to pay interest at the rate of 12.5 per cent from January 2015 till July 2016, and after that, at the rate of nine per cent till realisation of the entire amount. The forum also asked the company to pay Rs 5,000 towards litigation cost. 

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