VINEET KUMAR GUPTA Vs. UNIT TRUST OF INDIA

JUDGEMENT

(1.) THIS is an appeal against the order dated 1.3.2004 passed by the District Forum, Dehra Dun whereby the complaint of the complainant was rejected.

(2.) THE complainant has purchased 1500 units of the UTI. These were to mature on 1.1.1998. The UTI did not pay the amount, hence a notice was given on 21.11.1998 to the UTI. When the money was not paid to the complainant, he filed the complaint.

(3.) THE UTI admitted every fact but took the plea that on the basis of this certificate the complainant has taken a loan from the Bank. The certificates were pledged with the Bank. The UTI paid the amount to the Bank and, therefore, the payment has been made. There is no deficiency in service on behalf of the UTI.