UNIT TRUST OF INDIA Vs. PANNALAL MALIKARJUNA SHARMA

JUDGEMENT

(1.) Heard Mr. S. K. Patnaik. None present for the complainant. Perused the impugned order.

(2.) The sole grievance of the complainant before the District Forum was that he did not receive the matured amount under the Unit Linked Plan - 1971 Scheme of the U. T. I. which was taken up on 18.7.1987 for a period of 10 years against payment of yearly subscription of Rs.1,200/-, Certificate No. being 92005536. When after the maturity period the appellant, in spite of several reminders and requests, did not pay the amount, the complainant filed the case.

(3.) It is the case of the U. T. I. that though admittedly the complainant was a holder of the ULIP Membership Certificate as stated above, the same was scheduled to mature on 18.7.1996. Pursuant to that maturity they issued two cheques bearing Nos. M005477 and M0054787 on 18.7.1996 for Rs.25,149.25 paise in favour of the complainant under registered post in his given address. When the complainant informed them about non-receipt of the cheques they enquired into the matter and found the cheques to have been encashed by someone else.