Sir,
This has reference of my discussion held with Mr. Vikrant Tripathi, Branch Incharge, PACL India Ltd. Paschim Vihar,New Delh, over telephone on 2.1.2012, when I apprised him that I am a retired Govt. employee. On my retirement, I had invested Rs.2 lakh in their company on 22.3.2010 as per copy of registration No.U032251372 dated 22.3.2010 (copy enclosed for ready reference). As per clause 2 of its terms & conditions referred on overleaf, “The Land shall be allotted in the name of customer in the cash down payment plan after receipt of full payment within a reasonable period generally not exceeding 270 days. Subject to the foregoing, land ownership shall be transferred to the customer within a reasonable period after allotment.”

I informed him that I have not so far been allotted the land even after a period of one year and 9 months whereas as per terms & conditions it should have been allotted within 270 days i.e. 9 months from the date of investment. PACL India Limited company has failed to allot the piece of land in accordance with their own terms & conditions. Thus I have lost faith in that company.

I would therefore want to withdraw my hard earned money of my retirement on superannuation. It is, therefore, requested to lodge my complaint for refund of Rs.2 lakh alongwith interest thereon for utilising my money for more than one year and 9 months at the earliest possible. As informed by him that 20% of my money will be deducted if I withdraw before two years. But there is no such penalty clause for deduction of 20% on invested amount under this scheme. I have come to know that customers are getting refund of their money without any deduction from their Regd. Office at Amber Tower, Sansar Chand Road, Jaipur-302004.

I shall be grateful to you for helping me to get refund of my hard earned money amounting to Rs. 2 Lakh without any deduction from the above company at the earliest possible.
Thanking you
Yours faithfully
Deep Chand Koli
Address: H.No.7/257 Dakshin Puri Extn.
Dr. Ambedkar Nagar, Sector VI, New Delhi-110062