UNIT TRUST OF INDIA Vs. K SHYAMSUNDAR RAO

JUDGEMENT

(1.) AFORESAID two C.D. cases were filed by husband and wife respectively, alleging unfair trade practice and for deficiency in service against the appellants in withholding payment of full value of units after termination of the scheme under Monthly Income Plan -95.

(2.) AS both the C.D. cases were based on similar facts and law and relief sought for were same, the District Forum, Khurda, Bhubaneswar has passed a common order on 4.5.2004. In this end of the view, we are also inclined to pass a common order in both the appeals mentioned above for the sake of convenience.

(3.) VIDE aforesaid common orders dated 4.5.2004, the District Forum, Khurda, Bhubaneswar has partly allowed the complaint against the opposite parties, the present appellants, without awarding costs and compensation. It has been directed to the appellants by the District Forum to pay Rs. 308 per unit for 4900 units i.e. Rs. 15,092 only, along with interest @ 9% per annum with effect from 1.7.2002 till the date of payment to the complainants (respondents). It has also been directed by the District Forum to the opposite parties to pay dividend @ 9% per annum for the period from 1.4.2002 to 30.6.2002 on the amount invested by the complainants in the MIP -95 Scheme.