9911796707
TMI Blog1994 (9) TMI 271X X X X Extracts X X X X X X X X Extracts X X X X ..... r will dispose of A-154 and A-127 of 1994, which arise out of the same judgment date 3-3-1994 of District Forum - I (D.F.). 2. Briefly the facts are that the complainant, K.M. Singh and his sister jointly purchased 2,500 units of GIUS 87 for Rs. 25,000 in February 1987. According to the scheme to OP was to return Rs. 52,000 after the termination of the scheme. It was to terminate on 31-7-1992. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he OP the complainant and his sister have suffered a loss of at least Rs. 48,000 as they would have invested that amount in another scheme of the UTI, if they had received the cheque earlier and, therefore, the OP be directed to pay that amount to them with interest amounting to Rs. 1,250 for the period from 1-8-1992 to the date of filing the complaint. 5. The complaint was contested by the OP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. It further observed that the said amount would be recovered by the OP from the defaulting officials if so advised. Both the parties have come up in appeal against the order to the Commission; the appeal of the complainant has been numbered as A-152/94 and that of the OP as A-217/94. 7. It is contended by the complainant that the UTI should have delivered to him the cheque of Rs. 52,000 mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nits of the value of 700 units prior to 31-8-1992 is not enough to hold that the cheque regarding 2,500 units should have also been given to him before 1-8-1992. 9. The plea of the OP that the signatures of the complainant on the unit certificates and those of his sister did not tally with the signatures on the record of UTI appears to have been taken in order to cover the delay of 12 days. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had to visit the office of the UTI many times. Still he was paid the amount after a period of 12 days. The cheque of the amount of Rs. 52,000 was prepared on 1-8-1992. It is thus evident that in spite of preparation of the cheque on 1-8-1992 it was not handed over to him till 12-8-1992. In these circumstances one besides losing the interest on the amount feels mental agony and pain. In the circums ..... X X X X Extracts X X X X X X X X Extracts X X X X
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