The complaint is filed to get back the amount deposited in the respondent firm. The case is as follows:

The complainant has deposited Rs.1,00,000/- on 9/5/2002 vide loan certificate No.23 and 24. It was assured that the amount will be returned with 11% interest when requested. But the amount has not been returned so far. Mean while the respondent firm was closed due to improper functioning and misappropriation of money by the respondents. And the deposit amounts have not been returned. Hence the complaint.

 

           2. The respondent has filed a counter affidavit denying all the averments in the complaint. He has stated there in that no deposit has been received by him and he is not liable to return Rs.1,00,000/- with interest.

 

           3. The complainant has filed proof affidavit and produced the loan certificate and receipt to prove his case. They are marked as Exhibit P1 to P3. No evidence adduced by respondent.

 

           4. The definite case of the complainant is that he has deposited Rs.1,00,000/- as per the loan certificate No.23 and 24 on 9/5/2002. He has given a receipt for this deposit. It was promised that these deposited amount will be refunded with 11% interest when demanded. So he is liable to get back Rs.1,00,000/- with 11% interest. Hence the complainant is liable to get back the amount deposited.

 

            5. In the result the complaint is allowed and the respondent is directed to return Rs.1,00,000/- (Rupees One lakh only) to the complainant with interest at the rate of 11% from the date of deposit till realization with cost Rs.500/-(Rupees Five hundred only) within 2 months.