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Tamil Nadu
Firm asked to pay compensation
Staff Reporter
NAMAKKAL: Namakkal District Consumer Disputes Redressal Forum has directed a private finance firm to pay a compensation of Rs. 500 each to 13 depositors.
Twelve residents of Namakkal deposited Rs. 10,000 each and another person Rs. 5,000 with a private finance firm in Namakkal in August 1997.
When the firm failed to pay the interest and return the deposit amount, the persons filed a case with the forum, their advocate S. Selvam said in a press release.
Judge P. Subburaj directed the firm to return the deposit along with interest at the rate of 18 per cent per annum and pay Rs. 500 each to the depositors as compensation, the release said .
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