2000 (6) TMI 766

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..... te party to repay the amount of Rs. 4,25,000 on account of maturity of FDRs, as issued by the opposite party as per the details submitted above; ( ii )direct the opposite party to pay a sum of Rs. 1,30,200 as interest @ 24% p.a. on the principal amount of Rs. 4,25,000 w.e.f. 1-5-1998 (the date the interest was arbitrarily stopped by the opposite party) till July, 1999. Opposite party should also pay the balance amount due after July, 1999 till actual realisation @ 24% p.a. ( iii )direct the opposite party to give a compensation of Rs. 2,00,000 to the complainant for mental harassment and agony which they have gone through especially when the wife is suffering from a rare disease resulting in failing health day-by-day. It is needless to .....

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..... 6. 1836 25-5-1998 25,000 23-5-1998 Total 4,25,000 On maturity of the amounts, the opposite party has withheld their money without any reason. The non-payment of the amount amounts to deficiency in service on the part of the opposite party, hence the opposite party is liable to refund the deposited amount with interest. 2. Notice of the complaint was issued and in pursuance of which the opposite party has filed the written reply with the plea that the opposite party has been declared a sick industrial unit by the Board of Industrial and Financial Reconstruction vide order dated 29-12-1998 and IFCI was appointed as Operating Agency to make rehabil .....

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..... the opposite party-company as a sick industrial unit cannot be made a reason to stay the proceedings under the Consumer Protection Act, brought by the complainants for the refund of their respective amounts and the interest lying due. The opposite party has not controverted the case set up by the complainants. The facts set up by the complainants are supported by their respective affidavits that they have deposited the amounts by way of fixed deposits with the opposite party. It is pertinent to note that the opposite party has not denied that the amounts were not deposited by the complainants. The non-refund of the maturity amount of the FDR s amounts to deficiency in service on the part of the opposite party. 5. In view of the aforesa .....

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