KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION

VAZHUTHACAUD THIRUVANANTHAPURAM

APPEAL NO.150/11

JUDGMENT DATED 24.3.2011

PRESENT

JUSTICE SHRI.K.R.UDAYABHANU                --  PRESIDENT

SHRI.S.CHANDRAMOHAN NAIR                    --  MEMBER

1.      M/S. Integrated Finance Co.Ltd,

          “VAIRAMS”, 112, Thyagaraya Road,

          T.Nagar, Chennai – 600017.

             (By Adv.S.Reghukumar & Ors.)

2.      Branch Manager,

Integrated Finance Co.Ltd,                      --  APPELLANTS

CSI Commercial Complex,

Banker junction, Kottayam.

              (By Adv. S.Reghukumar & Ors.)                                                         

                   Vs.

P.CSamuel,

Puthenparambil,

Muttambalam P.O,                                              --  RESPONDENT

Kottayam.

JUDGMENT

JUSTICE SHRI.K.R.UDAYABHANU,PRESIDENT

          The appellants are the opposite parties in CC.8/06 in the file of CDRF, Kottayam.  The appellants are under orders to pay a sum of Rs.1,50,000/- with interest at 14 % per annum from the date of deposit till payment and also to pay Rs.5000/- as costs.

          2. The case of the complainant is that the amount deposited with the opposite parties in FD ie; Rs. 1 lakh undertaking  to pay 14% per annum  was not paid after 60 months on the date of maturity.  It is stated that the interest was paid up to the date of maturity ie; 15.12.05.

          3. The opposite parties have contended that they have filed a company petition before the Madras High Court  and the scheme has been formulated and hence the complaint cannot be entertained.

          4. The evidence adduced consisted of the proof  affidavits of the  respective sides  and Exts.A1 to A5.

          5. The Forum has rejected the contention of the opposite parties.  There was no evidence with respect to the order from the Madras High Court etc.  

  In the circumstances, we find that there is no scope for admitting the appeal.  We find that the Madras High Court has dismissed the prayer of the appellants and the SLP is only pending before the Supreme Court vide the documents produced by the appellants.  All the same, the direction to pay interest from the date of deposit is liable to be modified as the claim of interest is only from the date of maturity ie; 12.5.05.  Hence the order of the Forum is modified accordingly.   With the above modification the appeal is dismissed.

JUSTICE K.R.UDAYABHANU -- PRESIDENT

 S.CHANDRAMOHAN NAIR -- MEMBER