Excelsior Correspondent
JAMMU, Nov 27: Continuing its efforts to protect the interest of consumers being fleeced by misleading advertisements about the doubling of their money in the shortest possible time, the Department of Legal Metrology today came at the rescue of one lady namely Garo Devi, wife of Madan Lal of Meen Chak Bari Brahmana, who had invested in real estate company for expecting lucrative growth in her money.
According to the complainant, she invested Rs 50,000 in three parts with M/s PACL Indial Limited, commonly known as PEARL having its local office at Canal Road & registered office at Jaipur with the hope to double its amount by its maturity date in July 2014.
With high hopes she approached the company after maturity & submitted the buy back papers for liquidation of the amount in her favour, who in turn was assured to wait for further few days. After continuously visiting for more than 3 months, she was refused to made payments. Sensing foul smell she approached the Department of Legal Metrology with complaint under Consumer Protection Act.
Acting swiftly on the complaint, the Joint Controller Legal Metrology Amar Singh searched the whereabouts of the company at the internet site which revealed the frequent cheating by the company. The Securities and Excange Board of India(SEBI) has already directed PACL, to refund Rs 44,000 crore to the investors in three months time.
The department immediately approached the local officers of the company on behalf of the aggrieved consumer. The company officials fearing legal action from the department out immediately released an amount of Rs 107000 including the interest over & the maturity date.
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