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Investment firm penalised
Our Correspondent Ludhiana, June 5
In an ex-parte order, the District Consumer Disputes Redressal Forum has directed, Arihant Industries to pay Rs 12,000 to Mr Baldev Raj and his wife, Bimla Rani, residents of Urban Estate, Focal Point. The forum also directed the firm to pay interest on the said amount at the rate of 15 per cent per annum from April 1, 2001, till actual payment along with Rs 500 as cost of litigation to the consumers. According to the complaint, the consumers had invested money in the fixed deposit scheme of the respondent and they continued to get benefit of the FD receipts by way of interest. The complainant alleged that the respondent failed to make the payment of the interest as two cheques issued to him on March 25 and April 1, 2001, were dishonoured. Despite many requests and persuasion, the respondent did not make the payment. The forum observed that the FDRs were issued by the firm and the said cheques issued to the consumers, were dishonoured.

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