(1.) THE appellants in F.A. No. 165/2004 are the complainants in S.R. No. 1670/2002 on the file of District Forum -I, Hyderabad.
(2.) THE brief facts as set out in the complaint are that the complainant No. 1 deposited a sum of Rs. 50,000/ - with the opposite party in fixed deposit on 26.9.1998. The opposite party undertook to pay interest at 15.53% p.a. and promised to pay a sum of Rs. 58,254/ - on the date of maturity i.e., 27.9.1999. The second complainant deposited a sum of Rs. 3,500/ - in fixed deposit on 26.9.1998 for which the opposite party promised to pay interest at 15.91% p.a. as the said deposit was made for a period of 18 months. On the date of maturity, the complainants surrendered the original deposit receipts and got acknowledgements but the opposite party failed to refund the amount, hence the complaint.
(3.) THE District Forum at the admission stage held that the Company Law Board has ceased the matter and any grievance about non -payment, according to the schedule, can be raised before the Company Law Board. Thereafter the opposite party became a sick industrial undertaking. The District Forum relying on the decision given by the Apex Court in Rishbh Agro Industries Ltd. v. P.B.N. Capital Services Ltd., 2000 4 ALD 85(SC), held that :