From THE HINDU group of publications
Sunday, January 28, 2001
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From THE HINDU group of publications Sunday, January 28, 2001 |
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ICICI pulled up for mix-up
A DELHI consumer court has pulled up ICICI for a mix-up in the issuing of a bond to an applicant.
The applicant, Mr Rao, had applied for an ICICI tax saving bond on October 20, 1999. However, the financial institution issued a safety bond instead.
To compensate the investor, the New Delhi consumer redressal forum has directed ICICI to refund Rs 10,000 along with 18 per cent interest from October 20, 1999 till the date of payment. In addition to this, it has also asked ICICI to pay a compensation of Rs 2,000 to the complainant for the harassment, mental suffering and litigation cost. The forum has directed ICICI to comply with its order within 30 days. -- BL Research Bureau
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