By Smt Padmini Sudheesh, President The case of the complainant is as follows: The respondent is conducting a quarterly kuri from its Faridabad Branch having a total sala of Rs.2,50,0000/- in 4 divisions with 50 instalments at Rs.1,250/- per full ticket. The complainant got assignment of one full ticket numbered 77 under pass book No.77. It was auctioned by the complainant on the 10th instalment on 17/4/01 for Rs.37,500/- and the amount was received by the complainant on 5/8/1991 after executing a kuri mortgage land in favour of the respondent as document No.2451 of 1991 of Kodungallur S.R.O. After that the complainant wanted to get release of the mortgaged property and as per the direction of respondent petitioners deposited Rs.31,000/- with the respondent sabha with 15% interest and got the mortgaged property released. The deposit was made on the assertion of the respondent sabha that the future instalments will be met from the interest on the above deposit. As such the petitioners did not make any further enquiry. Later the petitioner received a notice from the respondent calling upon the complainant to remit the 43rd instalment onwards. Then the petitioners approached the respondent sabha and enquired. Then the respondent had the audacity to say that the interest due is not sufficient to meet the instalments and hence the petitioner is bound to remit the defaulted instalments with interest. Further the respondent informed that the deposit does not carry 15% interest and only 12% interest unilaterally. There upon lawyer notice sent on 11/2/00. The notice was accepted, but no reply and no remedy. Hence this complaint. Complaint is amended as per order in IA 553/05. 2. The counter in brief is as follows: They have admitted the first and second paragraphs of the complaint. On 13/2/95 an amount of Rs.31,000/- had deposited in the respondent sabha and the tenure was fixed on 14/4/01 as the termination date of the kuri. Interest was fixed as 12% and the Fixed Deposit receipt was given to the petitioners and as per an agreement original receipt was entrusted in the respondent sabha. The amount was deposited to pay the kuri instralments out of the interest if the petitioners committed default in the kuri subscription. The rate of interest was entered in the F.D. receipt. As per clause 17 of the terms of the kuri the petitioners are entitled for the interest of Saving Bank Accounts. But the respondent had given 12% interest from 14/4/95 onwards. Petitioners did not remit the kuri amount. Towards the 26th instalment she had to pay Rs.1225.40/- and the interest upto 14/4/98 was Rs.620/- only. The interest and the deposited amount were adjusted towards the kuri instalment and penal interest. Respondent is ready to return the balance amount of Rs.18,365/- with 12 % interest. There is o deficiency in service. Hence dismiss the complaint. 3. The points for consideration are 1) Is there any deficiency in service ? 2) Is the petitioners are entitled for the amount sought ? 3) Other reliefs and costs ? 4. The evidence consists of Exhibits P1 to P5, Exhibits R1 to R4 and the deposition of PW1 and RW1. 5.Points 1,2 &3 : According to the petitioners they are entitled for Rs.31,000/- with 15% interest. The prayer portion was amended and added this as a new prayer. Rs.31,000/- was deposited on 13/2/95 in the Sabha as a security. A mortgage deed was executed in favour of the Sabha in turn for the auctioned amount. Later it was released and this amount was deposited. So this is a clear security amount. The tenure was fixed on 14/4/01 which was the kuri termination date. On that day itself Exhibit R1 receipt was also executed. In which it is stated that So it is clear that if default is committed this amount can be adjusted to the kuri instalment. When the first complainant was examined she has deposed that she had put signature in a blank white paper and denied the execution of Exhibit R1. But she has no such case in the complaint and no steps taken to disprove Exhibit R1. So this version can not be accepted. From 14/4/95 onwards the kuri was in default. So the respondent Sabha was forced to adjust the kuri amount from the deposited amount and interest. One of the main disputes is regarding the rate of interest. In Exhibit R2 the rate of interest stated is 12% only. Exhibit R4 a document in 13/2/95 in which the interest calculation is 12%. As per the terms and conditions of the kuri, the complainants are entitled for the savings bank interest rate. What is the then rate of interest is not stated by the petitioner. It is the duty of petitioner to prove their case. During the examination respondent stated that at the time of Exhibit R2 there was no rate of interest of 15%, in the bank. He also added the Director Board has authority to take decision unilaterally. Any way in the Fixed Deposit Receipt the rate of interest noted is 12%, petitioners has no case that it was added later. So petitioner are entitled for 12% only. This is a quarterly kuri and the next instalment she had to pay on 14/4/95 for the 26th instalment. The amount to be paid was Rs.1225.40/-. The interest accrued from the Fixed Deposit was Rs.620/-. As per the terms of the kuri the sabha is entitled for penal interest. In can be seen in condition No.16 of the pass book. In the statements submitted by the complainants the penal interest is not included. The respondent sabha is entitled for the penal interest also. From 14/4/95 the kuri was in default and the 12% interest from the deposited amount was not sufficient to pay the kuri instalment. Hence amount was adjusted from the deposit. Penal interest will be also there to clear by the petitioners. There is no deficiency in service on the part of respondent. Hence the complainants are not entitled for cost and compensation. 6. In the result complaint is partly allowed and the respondents are directed to return the balance amount after deducting the amount adjusted towards the kuri and penal interest. Comply the order within two weeks. Dictated to the Confdl. Assistant, transcribed by her, corrected by me and pronounced in the open Forum this the 27th day of August 2008.
