The orders, passed on Aug 21, followed disputes over land registration, promised returns and repayment of investments. Hyderabad: The District Consumer Disputes Redressal Commission-II, Hyderabad, has ordered refunds or monthly payments in three cases involving Squares and Yards Infra Pvt Ltd and its sandalwood cultivation investment schemes.
In the first case, Suresh Kumar Chinta said he paid ₹17.5 lakh in March 2023 and received registration of 534 sq yards of farmland. The company paid him ₹30,000 a month from April to Sept 2023 before stopping. With the respondents set ex-parte, the commission directed the company to pay him ₹60,000 a month from Oct 10, 2023, to June 10, 2031, with 9% interest on defaulted instalments. It also awarded ₹25,000 compensation and ₹5,000 costs. In the third case, Soma Nitish Reddy said he paid ₹17.5 lakh, but a 267-sq-yard unit was not registered. Three repayment cheques issued under a March 2024 MOU also bounced. Rejecting the respondents’ argument that the investment was a commercial transaction, the commission ordered a ₹17.5 lakh refund with 9% interest from July 1, 2024, besides ₹25,000 compensation and ₹5,000 costs.
Chinta also alleged that the project was later locked and unmaintained. You Can Also Check: Gold Rate in Hyderabad | Silver Rate in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Hyderabad AQI | Weather in Hyderabad | Petrol Price in Hyderabad | Diesel Price in Hyderabad | CNG Price in Hyderabad | LPG Price in Hyderabad