Consumer panel imposes fine on investment firm

The Ernakulam District Consumer Disputes Redressal Commission has ordered an investment firm to pay an investor ₹4.68 lakh after collecting investments with a high interest rate of 12.50% for five years. The investor, Vignesh M., filed a petition against the chairman of the firm, claiming that his investments were not returned when the firm closed down. The Commission found that the investor had invested only ₹3.18 lakh, so the firm was asked to return that amount with interest. Additionally, the firm was ordered to pay a compensation of ₹1 lakh and ₹50,000 towards litigation costs.