CC Filed on 02.08.2008<br /> Disposed on 18.09.2008<br /> BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, KOLAR.<br /> <br /> Dated: 18th Day of September 2008<br /> <br /> PRESENT:<br /> Sri. G.V.HEGDE, President.<br /> Sri. T.NAGARAJA, Member.<br /> Smt. K.G.SHANTALA, Member.<br /> ---<br /> <br /> Consumer Complaint No.58/2008<br /> Between:-<br /> <br /> Sri. Narayanappa,<br /> S/o Doddalakshmaiah,<br /> Krishnananda Mutt Road,<br /> Mulbagal Town. Complainant<br /> <br /> (By Advocate Sri. C.M.Niranjana Swamy & Others)<br /> <br /> V/s<br /> The Secretary,<br /> Taluk House Building <br /> Co-operative Society Ltd.,<br /> Mulbagal. Opposite party <br /> <br /> (OP – Its Secretary)<br /> <br /> ORDER<br /> This is a complaint under section 12 of the Consumer Protection Act, 1986 praying for a direction against opposite party to pay a sum of Rs.21,900/- with interest from the date of complaint till the date of realization with costs etc.,<br /> <br /> 2. The material facts as may be gathered from the complaint and the records produced by complainant may be stated as follows: That the OP is a House Building Co-operative Society registered under the Karnataka Co-operative Societies Act with main object to provide loans to its <br /> CC No.58/2008<br /> members for construction of houses. It appears for that purpose the society used to collect deposits from the members and used to insist for deposit from the members who intended for loan facility for construction of house. It is alleged that the complainant approached for loan and he was asked to deposit Rs.10,000/-. Accordingly the complainant deposited Rs.10,000/- on 31.12.1997 and obtained receipt and the deposit bond. It is alleged that subsequently the society failed to provide any loan inspite of repeated requests and thereafter the complainant completed the construction of his house arranging the amount by other sources and demanded for re-payment of the deposit with 12% interest per annum. For the written demands for repayment of deposit the society replied that a huge amount is in arrears from different borrowers of loans and for that reason there is financial crises for repayment of the deposit to complainant. <br /> <br /> 3. The OP appeared and admitted the deposit made by complainant and stated that due to financial constraints the society is not in a position to return the deposit within near future. That submission of the OP is recorded in the order sheet. <br /> <br /> 4. We perused the records. The deposit receipt does not contain any terms regarding the period of deposit and payment of interest. It simply states that from complainant a sum of Rs.10,000/- is received as deposit on 31.12.1997. In such circumstance we think the interest may be allowed at 12% per annum on the deposit amount from the date of deposit till the date of realization. The amount claimed in the complaint included the deposit plus the interest on it at 12% per annum till the date of filing the complaint besides notice charge. <br /> <br /> CC No.58/2008<br /> The financial constraint of the society is not a valid defense for postponing the payment of the amount due to the complainant. <br /> <br /> 5. Hence we pass the following:<br /> O R D E R<br /> The complaint is allowed with costs of Rs.1,000/-. The opposite party shall pay Rs.10,000/- with interest at 12% per annum from 31.12.1997 till the date of realization, within 45 days from the date of this order. In default the opposite party shall pay interest at 12% per annum on the total amount then due from the date of default till the date of realization. <br /> <br /> Dictated to the Stenographer, corrected and pronounced in open Forum this the 18th day of September 2008.<br /> <br /> <br /> MEMBER MEMBER PRESIDENT<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />