SMT. N. SHAJITHA BEEVI (MEMBER)<br /> <br /> The complaint filed by the complainant alleging deficiency of service against the opposite parties. The grievance of the complainant is that on 2002 May onwards the complainant was depositing money into the a/c No.286 on various dates. As per the pass book of the complainant an amount of Rs.3,50,919/- was outstanding as on 10.3.2006. At the time of deposit the opposite parties agreed to pay 18% interest per annum. He was getting interest from the opposite parties up to 10.3.2006. On 1.4.2006 he demanded the principal amount with interest from the opposite parties. They did not pay the same. <br /> 2. The Forum issued notice to the opposite parties. They appeared and field version. The opposite parties were denied the rate of interest at the rate of 18% and has not opened the account with the opposite parties have not issued any pass book to the complainant. It is also contended that the complainant has not remitted the amount in the account with effect from May, 2002. And denied the total remitted amount of Rs.3,50,919/- in the account of the complainant.<br /> 3. Considering the contentions of the complainant this Forum raised the following issues:- Whether the complainant is entitled for claim amount and compensation from the opposite parties establishing the deficiency in service as averred in the complaint?<br /> 4. Complainant filed proof affidavit and produced documents marked as Exts.A1 and A2. Ext.A1 shows that complainant was deposited Rs.3,50.919/-. In the documents it is stated the details of amount deposited.<br /> 5. Opposite parties are contested in this proceedings and they were disputed and stated above contention. The documents produced by the complainant shows the details of their transaction with the opposite parties. Hence the complainant is entitled to get back the deposited amount of Rs.3,50,919/-. No evidence produced by the complainant showing the rate of interest in the said transaction. In this circumstances this Forum is inclined to grant 7.5% interest annually. <br /> In the result the petition is allowed and directed to the opposite parties to pay the said amount of Rs.3,50,919/- (Rupees three lakhs fifty thousand nine hundred and nineteen only) with interest at the rate of 7.5% from 1.4.2006 till the date of realization, Rs.2000/- (Rupees two thousand only) as cost of this proceedings. Opposite parties are liable to pay the cost to the complainant. This order shall be complied by the opposite parties within 30 days from the date of receipt of this order. Petition allowed.<br /> Pronounced in open Forum on this the 29th day of April, 2008.<br /> Sd/- SMT. N. SHAJITHA BEEVI:<br /> Sd/- SRI. JIMMY KORAH :<br /> Sd/- SRI. K. ANIRUDHAN: <br /> APPENDIX:- <br /> Evidence of the complainant:- <br /> Ext.A1 - Pass book<br /> <br /> Ext.A2 - Photo copy of the conditions of Sreepadam funds<br /> <br /> Evidence of the opposite parties:- Nil<br /> <br />