Judgment:
GopalaKrishna Tamada, President
B.H.P.V.Employees Co-operative Thrift and Credit Society Limited is the appellant and this appeal is directed against C.C.No.369/2011 dated 29-3-2012 on the file of District Forum-I Visakhapatnam whereby the District Forum passed the following order:
œIn the result, the complaint is allowed directing the opposite party to pay the complainant Rs10,000/- with 9% interest p.a. from 08-6-2007 to till the date of payment and also to pay an amount of Rs.10,000/- with 12% interest p.a. from 13-7-2002 to 13-7-2008 and to pay 9% interest p.a. on Rs.10,000/- from 14-7-2008 to till the date of payment. The opposite party is further directed to pay Rs.5,000/- towards compensation besides costs of Rs.3,000/-. Advocate fee is fixed at Rs.1,500/-?
The brief facts as narrated by the complainant in the complaint are as under:
The complainants father is an employee working in B.H.P.V. and has become a depositor of the said credit society and deposited an amount of Rs.50,000/- on 08-6-2002 and obtained receipt bearing No.1395 for monthly interest @ 12% p.a. and the opposite party has to repay the amount on maturity date i.e. 08-6-2007 and also deposited another amount of Rs.10,000/- on 13-7-2002 vide receipt No.1467 and the maturity value is Rs.20,000/-. Both the amounts are deposited for a period of 5 years and on maturity in the year 2007 i.e. after completion of 5 years, the opposite party is liable to pay the matured amounts. After completion of five years, the complainant submitted the original bonds to the opposite party and it issued an acknowledgement and thereafter paid an amount of Rs.40,000/- on 04-8-2008 vide cheque No.750334 and Rs.10,000/- on 21-10-2008 vide cheque No.28419 but failed to pay the balance amount to the complainant inspite of repeated requests. In those circumstances, when questioned, the opposite party/appellant stated that the society js running in losses and the amounts will be paid. However, as the amounts were not paid despite the fact that the maturity period is over, the complainant got issued a legal notice on 03-3-2011 demanding the opposite party to pay the balance amount and approached the District Forum and filed the complaint claiming an amount of Rs.33,760/- with interest at 12% p.a. together with compensation of Rs.25,000/-, mental agony of Rs.10,000/- and costs of Rs.5,000/-.
The said complaint was resisted by the society on various grounds, particularly on the ground that the society is in losses and in those circumstances only, the said amounts were not paid. It further stated that an amount of Rs. Rs.40,000/- was paid on 04-8-2008 vide cheque No.750334 and Rs.10,000/- was paid on 21-10-2008 vide cheque No.28419.
Having considered the entire evidence on record, the District Forum while allowing the said complaint directed the opposite party/appellant to pay the complainant Rs.10,000/- with 9% interest p.a. from 08-6-2007 to till the date of payment and also to pay an amount of Rs.10,000/- with 12% interest p.a. from 13-7-2002 to 13-7-2008 and to pay 9% interest p.a. on Rs.10,000/- from 14-7-2008 to till the date of payment. The opposite party is further directed to pay Rs.5,000/- towards compensation besides costs of Rs.3,000/-. Advocate fee is fixed at Rs.1,500/-.
As stated supra, the said order is under challenge before us.
The learned counsel appearing for the appellant, Mr.K.Rajasekhar submitted that the entire amount of Rs.50,000/- was paid and the District Forum erred in directing the appellant to pay Rs.10,000/- as if the principal amount is still to be paid.
The learned counsel for the appellant also filed petitions, FA.I.A.Nos.1820/12 and 3095/2013 before this Commission to receive certain documents as additional evidence and the said petition was ordered by this Commission. He tried to draw our attention to Ex.B15 to establish the fact that the amounts towards interest were paid periodically till 15-11-2007.
From a perusal of the record, we are unable to appreciate the submission made by the learned counsel for the appellant as he has not chosen to file any documentary evidence before the District Forum to show that he paid interest on Rs.50,000/- upto 15-11-2007. In the absence of such plea coupled with documentary evidence, in our considered view, the District Forum is justified in holding that only an amount of Rs.40,000/- and Rs.10,000/- were paid on 04-8-2008 and Rs.10,000/- on 21-10-2008 respectively as the payment of interest on Rs.50,000/- was not brought to its notice and he cannot find fault with the orders passed by the District Forum. However, as it is an admitted fact that interest was paid upto 15-11-2007 and the principal amount of Rs.50,000/- was paid i.e. Rs.40,000/- and Rs.10,000/- were paid on 04-8-2008 on 21-10-2008 respectively, we set aside the order of the District Forum with regard to the direction of payment of Rs.10,000/- with interest at 9% p.a. from 08-6-2007 is concerned and the respondent/complainant is entitled to interest at 12% pa. on Rs.50,000/- from 16-11-2007 to 21-10-2008 i.e. on which date the balance amount of Rs.10,000/- was paid.
So far as the second deposit of Rs.10,000/- is concerned, the learned counsel for the appellant fairly conceded that neither the principal amount nor interest was paid and in those circumstances, the complainant is entitled to the principal amount with interest.
Appreciating the said submission, we direct the appellant/opposite party to pay the amount of Rs.10,000/- towards second deposit with interest at 12% p.a. from the date of deposit i.e. 13-7-2002 till the date of realization.
Accordingly this appeal is allowed in part and we set aside the order of the District Forum with regard to the direction of payment of Rs.10,000/- with interest at 9% p.a. from 08-6-2007 is concerned and direct the appellant/opposite party to pay interest at 12% p.a. from 16-11-2007 to 21-10-2008 i.e. on which date the balance amount of Rs.10,000/- was paid towards the first deposit of Rs.50,000/- is concerned and direct the appellant/opposite party to pay the amount of Rs.10,000/- towards second deposit with interest at 12% p.a. from the date of deposit i.e. 13-7-2002 till the date of realization while confirming the other aspects of the order of the District Forum. There shall be no order as to costs in this appeal. Time for compliance four weeks.