UTI ASSET MANAGEMENT CO LTD Vs. AVI MINOR

JUDGEMENT

(1.) The complainant in Revision Petition No.834 of 2009 purchased 500 units of Raj Laxmi Scheme and the complainant in Revision Petition No.835 of 2009 purchased 1000 units of Raj Laxmi Scheme from the petitioner. The said Scheme, according to the complainants, carried special incentive and interest at the rate of 18% per annum. The Scheme was to mature on 14-12-2012. However, the petitioner closed the aforesaid Scheme prematurely on 30-09-2000. But, the redemption amount was not paid to the complainants. Being aggrieved, the complainants approached the concerned District Forum by way of separate complaints.

(2.) The District Forum directed the petitioner to make the following payments to the complainant in Revision Petition No.834 of 2009:

(3.) Being aggrieved from the order passed by the District Forum the petitioner approached the concerned State Commission by way of two separate appeals. The appeals having been dismissed vide impugned order dated 10-09-2008, the petitioner is before us by way of these two separate revision petitions.