Indore : District Consumer Forum has penalised a commodity trading company for not completing the contract of an associated trader. The Forum has asked the company to return the entire transaction amount to the trader and compensate for physical and mental trauma and petition expenditure.
Sanjay Saboo, 48, had registered as a commodity trader with Indo Thai Commodities Private Limited. The company did not complete his contract for four commodities, for which it owes him more than Rs 11 lakh. Since the complainant was not paid the due amount in time, he sought Forum’s intervention to get that amount or commodities worth the amount back.
According to the company, they are ready to pay the entire amount once National Stock Exchange (NSE), Mumbai gives it to them. The Forum rejected the argument citing service deficiency and asked the company to pay the money to Saboo.