ORDER

(BY SRI VAKKANTI NARASIMHA RAO, HON’BLE PRESIDENT ON BEHALF OF THE BENCH)

This complaint is filed on 07.01.2016 vide SR No. 17116 by the complainant under Section 12 of Consumer Protection Act, 1986 with a prayer to direct the opposite parties to:-

1. Pass an award for an amount of Rs. 3, 37,416/- (Rupees Three Lakhs Thirty-Seven Thousand Four Hundred and Sixteen only) in favour of the complainant with subsequent interest @ 18% P.A. till realization.

2. Award costs and

3. Pass any such other order or orders as the Commission deemed fit and proper in the circumstances of the case.

1. The brief averments of the complaint as made-out are that the complainant is the daughter’s Son the Power of Attorney and with a vie to save some fund for the children, he was thinking of depositing some amounts in Banks. At that point of time the employees of 2^nd opposite party interested in the SSNNL approached him and Sri M.V.N. Choudary the father’s father for investing some amount in the Bonds styled as “Deep Discount Bonds” which pays higher rate of interest for long period of twenty years.

2. As per the scheme, the Bonds with face value of Rs.1,11,000/- (Rupees One Lakh Eleven Thousand only) we