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Health insurance: Mediclaim for State Bank of Travancore account holders

Should you go for SBI General’s health insurance plan even though its mediclaim premium is...

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The IRDA has come up with guidelines to increase font size of fine print in insurance...

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Forum Penalises Housing Board

Despite repeated requests,  CHB failed to refund the money. After a delay of five years, CHB refunded the earnest money of Rs70,000 in 2013 but without any interest

Raj Kumar and Umed Singh, residents of Dhanas and Police Colony Sector 26, Chandigarh, booked a flat under the ‘Self Financing Housing Scheme 2008’ for employees of Chandigarh administration and deposited Rs70,000 as earnest money, taking a loan from State Cooperative Bank. In the draw of lots for allotment of flats under the Scheme, held in November 2010, both applicants were unsuccessful, after which they asked the Chandigarh Housing Board (CHB) to refund their money. CHB assured them that it will frame a policy and take a decision on allotment of flats to all the unsuccessful employees.

Despite repeated requests, CHB failed to refund the money. After a delay of five years, CHB refunded the earnest money of Rs70,000 in 2013 but without any interest.

The UT Consumer Disputes Redressal Forum directed CHB to pay interest at the savings bank rate on the earnest money deposited by the applicants along with Rs30,000 to each complainant as compensation and the litigation cost.

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