PEERLESS FINANCIAL SERVICES LIMITED Vs. K K PATHAK

JUDGEMENT

(1.) THESE appeals under Section 15 of the Consumer Protection Act, 1986 , are directed against the orders passed by District Consumer Disputes Redressal Forum, Raipur (hereinafter called the District Forum for short ). The details of the complaints and the orders passed therein are as given below:

(2.) DISTRICT Forum in all the above complaints held that appellants and respondent No. 2 are jointly and severally liable to pay to the complainant the maturity amount of Secured Premium Debentures issued by respondent No. 2 company. Since all these appeals involve identical questions, they are being disposed of by this common order.

(3.) THE complainants respondent No. 1 averred that respondent No. 2 company issued Secured Premium Debentures which were offered for sale by opposite party/appellant No. 1. It was further averred that O.P./appellant No. 1 authorised the respondent No. 2 to receive the amount towards the price of the said debentures, on behalf of the appellant No. 1. The maturity date of the said debentures was 20.9.1998. However, the amount of debetures on their maturity was not paid to the complainants by the appellants and respondent No. 2. The complainants, therefore, approached the District Forum and filed the complaints for the recovery of the maturity amount with interest and compensation.