K M SINGH Vs. UNIT TRUST OF INDIA

JUDGEMENT

(1.) This order will dispose of A-154 and A-127 of 1994, which arise out of the same judgment date 33-94 of District Forum-I (D. F. ).

(2.) Briefly the facts are that the complainant, K. M. Singh and his sister jointly purchased 2500 units of GIUS 87 for Rs.25,000/- in Feb. '87. According to the scheme to OP was to return Rs.52,000/- after the termination of the scheme. It was to terminate on 31-7-92. They had purchased another 700 units of the same scheme for Rs.7,000/-.

(3.) It is further pleaded that the complainant and his sister surrendered the unit certificates for 2500 units and 700 units to the OP duly discharged for payment, on 6-7-92. The OP, however, sent a cheque relating to 700 units within 10 days but they did not send the payment relating to 2500 units to them inspite of respected requests. On 8-8-92 he was informed that the signatures of the holders on the certificates did not tally. A letter dated 29-7-92 to that effect was sent to his sister, which was received by her on 11-8-92. However, when he went to the office of the OP oh 12-8-92 again, he was given a cheque of Rs.52,000/- dated 1-8-92.