A district consumer commission has directed a financial service to give Rs6.45 lakh it did not as returns on investment with 12% interest. The complainant had invested Rs 3 lakh and after getting returns for a few months, he was not given anything. When he would approach the financial service, he would not get any reply either. The panel also asked the firm to give the complainant Rs 35,000 towards mental agony and litigation cost.
The order dated February 17 (uploaded recently) was passed by SS Mhatre, president and M P Kasar member, District Consumer Disputes Redressal Commission, Central Mumbai. It was passed on a complaint by Sion resident Raju Dethe against R R World Financial Services (director, Ravi Gawli).
Complainant invested Rs 1 lakh in a scheme
Dethe had invested Rs1 lakh in a scheme (monthly return plan) by RR in December 2019. He was given a receipt and promised that he would be given Rs 20,000 every month between February 2020 to November 2020 in return. RR World gave cheques to him for January, February and March and stopped.
In the meantime, Dethe had further invested Rs 1 lakh and was promised the same returns of Rs 20,000. For this investment too, he was given money for the only first three months.
Complainant invested another Rs 1 lakh in another scheme
Dethe also invested in a quarterly plan in which he paid Rs1 lakh and was promised Rs 75,000 return every three months. In this case, he did not get returns as promised. When Dethe met representatives of RR, there was no reply to his grievance. He then filed a complaint with the consumer commission seeking Rs 6.45 lakh that he would have got as promised.
RR did not reply to notices
RR did not reply to the notices and did not appear before the panel so an order to move ex-parte was passed.
The panel stated that RR had breached the trust of the complainant and engaged in unfair trade practice. It said that since no rebuttal to the allegations was made, the allegations went unchallenged and there was a deficiency in service.
