Early Times Report
Jammu, Nov 8(JNF): The District Consume Forum decided 75 complaints filed against United Capital Services (I) Ltd and awarded compensation. The grievance of complainants is that succumbing to the high profit yielding schemes aired by opposite parties, they had invested their hard earned money in the branch offices of United Capital Services (I) Ltd.. Complainants have placed on record unit certificate and first installment receipt,(For short certificate), which contains seal of United Capital Services (I) Ltd. Regd. Office Canal Road, Jammu(J&K)and is duly signed by Director, authorized official and Managing Director, respectively. On perusal of certificates, it transpires that units were purchased by complainants and have deposited subscription amount, certificates further contains date of redemption and unit value is reflected double of actual subscription amount. However, before glittering dreams shown to the complainants, would have come true, opposite parties said to have closed their respective branch offices, without leaving their foot prints, except gloomy clouds on complainants. District Consumer Forum Presided over by District Judge Shahzad Azeem after hearing both the sides, decided all the complaints and Therefore, in view of cogent material and evidence on record, complainant is held entitled to sum of unit value, as indicated in the certificate, uptill 20-10-2003, i.e.date of redemption. Complainant is further held entitled to interest @ 7%, per annum, on redemption amount, from the due date of redemption, i.e.20-10-2003, till passing of this order. directed indicated in each certificate, uptill 14-12-2003,i.e.date of redemption. Complainants are further held entitled to interest @ 7% per annum on redemption amount, from the due date of redemption,i.e.14-12-2003 till passing of this order. |
