J D FINANCERS Vs. SURENDER KUMAR GUPTA

JUDGEMENT

(1.) The complainants / respondents deposited different amounts with the petitioners by way of fixed deposits. It was agreed between the parties that the petitioner shall pay interest @ 18% per annum to the depositors. The amount deposited with the petitioners was repayable on demand. The complainants served notices upon the petitioners, seeking refund of the money deposited by them, along with interest at the agreed rate of 18% per annum. That having not been done, they approached the concerned District Forum by way of two separate complaints.

(2.) The complaints were opposed by the petitioners, primarily on the ground that the same were barred by limitation since the money came to be deposited in the year 1993, whereas the complaints were filed in the year 2005.

(3.) Vide its order dated 03.8.2009, The District Forum directed the petitioners to pay the amount deposited by the complainants, along with interest on that amount @ 18% per annum. They were also directed to pay Rs.5,000/- as compensation and Rs.2,000/- towards the cost of litigation to the complainants.