IFCI LTD. Vs. ANIRUDH HISARIYA AND ORS.

JUDGEMENT

(1.) Both these revision petitions arise out of single order of learned State Commission passed in two appeals involving similar facts; hence, decided by common order.

(2.) These revision petitions have been filed by the petitioner against the order dated 5.8.2013 passed by the Rajasthan State Consumer Disputes Redressal Commission, Bench No.3, Jaipur (in short, 'the State Commission') in Appeal No. 1106/2011 IFCI Vs. Anirudh Hisariya and Appeal No. 1107/2011 IFCI Vs. Sushila Hisariya by which, while dismissing appeals, orders of District Forum allowing complaints were upheld.

(3.) Brief facts of the case are that complainants/respondents in both the complaints purchased family bond amounting to Rs.5,000/- from OP/petitioner on 6.9.1996. Payment of bond on redemption was to be made as per the face value. Complainant sent original bonds for payment, but OP on 20.4.2010 sent payment of Rs.14,121/- in complaint No. 255/2010 & Rs.13,108/- in Complaint No. 253 of 2010 whereas complainants were entitled for payment of Rs.50,000/-. Alleging deficiency on the part of O P, complainant filed complaint before District forum. OP resisted complaint and submitted that bonds were in the nature of the pronote and complainant made investment by purchasing bond, so, he was not consumer. It was further submitted that OP decided on 25.6.2003 to redeem bond and intimation regarding this was published in newspaper on 30.5.2003 and payment was to be made as per value on 16.12.2003 and payment was made accordingly. Complaint was barred by limitation and prayed for dismissal of complaint. Learned District Forum after hearing both the parties allowed complaint and directed OP to pay interest on aforesaid amount from 6.12.2003 to 20.4.2010 @ 9% p.a. and further awarded cost of Rs.1,000/-. Appeals filed by OP were dismissed with cost of Rs.5,000/- against which, these revision petitions have been filed.