DEV KRISHAN SHARMA Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioners deposited money in their single and joint accounts with Sub Post Master, Bishnah under the Monthly Income Scheme, which entitled them to interest @ 13% per annum. The money thus invested remained in deposit with the

(2.) The deposits made by the petitioners were later found not covered by the rules, in that, the Scheme under which the money was deposited would not permit the depositors to make deposits exceeding Rs. 2.04 lac in single account and Rs. 4.08 lac in joint accounts. The accounts were, therefore, closed and the amount paid by way of interest, on the deposits, ordered to be recovered.

(3.) After closure of the Scheme, the petitioners received their money back but without any interest.