SANJAY KUMAR GUPTA Vs. UMA RANI SRIVASTAVA

JUDGEMENT

(1.) HEARD Mr. Rajesh Chaddha, learned Counsel for the appellants and Mr. S.B. Srivastava, learned Counsel for the respondent/complainant and also perused the record.

(2.) THIS appeal is directed against the judgment dated 29.4.2003 of the District Consumer Forum, Varanasi. Whereas two members allowed the respondent s complaint for recovery of Rs. 78,800.00 along with interest @ Rs. 15% p.a. from August, 1998 with an award of Rs. 5,000.00 as compensation, the President of the Forum awarded Rs. 10,000.00 as compensation besides having decreed the complainant s claim for Rs. 78,800.00. The President also granted interest @ Rs. 15% p.a. w.e.f. June, 1998 and August, 1998. Obviously, thus, there is difference of opinion between the decision of the President on one side and that of the two members on the other, on the amount of compensation as indicated above in addition to the award of interest from June, 1998. In other words, it may be observed that there is complete concurrence insofar as the complainant s claim for Rs. 78,800.00 having been decreed is concerned.

(3.) TO enumerate briefly, the respondent purchased two FDRs of Rs. 25,000.00 each by depositing the said sums with the Creative Credit Capital Ltd. of which the two appellants namely Sri Sanjay Kumar Gupta and Sri Rakesh Kumar Gupta are the Managing Director and Director, respectively. The respondent had also opened with the company four recurring accounts and deposited in each of them Rs. 500.00 per month. In all she deposited Rs. 24,000.00 i.e. Rs. 6,000.00 per recurring deposit account. She claimed interest amounting to Rs. 4,800.00 on the amounts she had deposited under the recurring deposit scheme. She did not claim interest on the amount of Rs. 50,000.00 deposited in fixed term deposit as she received regularly the interest under the scheme.