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Tuesday, January 26, 1999

Consumer court penalises Worldlink Finance 

PRESS TRUST OF INDIA  
A Delhi consumer court has ordered non-banking finance company Worldlink Finance to pay depositors penal interest for not returning matured fixed deposits on time.

The Delhi District Consumer Dispute Redressal Forum-VI, delivering a series of orders on separate petitions filed by depositors, asked Worldlink Finance to return the deposit money with 18 per cent interest and pay litigation cost of Rs 1000 to each of the depositors.

The consumer forum in its order said the company was guilty of deficiency in service and hence would have to pay 18 per cent interest and the litigation cost. More than 55 depositors, who had deposits ranging from Rs 8,000 to Rs 35,000, had approached the consumer court after post-dated cheques given by Worldlink allegedly bounced.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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