Tuesday, November 3, 2015

Consumer court forces real estate company to return money to investors

Possibly a first-of-its-kind order by a consumer court:

File a Complaint Against a Builder in Consumer Court

In its order, the New Delhi Consumer Disputes Redressal Forum had imposed penalty of imprisonment for three years under the Consumer Protection Act, 1986, on Madhu Singh, director of the company for failing to satisfy the decree order passed by the Forum.

The Forum had recently compiled all claims against the erring company and has ordered part-payment, to begin with, of amounts paid by them from money collected through sale of assets of the company. - Click to read more

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