V.V. RAMANARSAIAH Vs. ABHEESTHA FINANCE COMPANY

JUDGEMENT

(1.) These five revision petitions have been filed by the petitioners, Sri V.V. Ramanarsaiah and Ors. against the common order dated 5.2.2009 of the State Consumer Disputes Redressal Commission, Andhra Pradesh, (in short 'the State Commission') passed in FA Nos. 109 of 2006, 209 of 2006, 141 of 2006, 108 of 2009 and 113 of 2009.

(2.) Brief facts of the case are that the petitioners/complainants invested their money in 10 FDRs with the opposite party No. 1/respondent M/s. Abheeshta Finance Company. The complainants are husband, wife, son and daughter-in-law.

(3.) The amounts were invested in years from 1998 till 2001 and their, maturity, ranged from 1999 to 2002. The interest has been paid till Oct., 2001 and was stopped with effect from Nov., 2001. Alleging deficiency on the part of the opposite party No. 1 and its partners, the complainants filed a complaint before the District Consumer Disputes Redressal Forum-II, Hyderabad,(in short 'the District Forum'), being complaint No. CD. No. 575 of 2003. Opposite party Nos.1 to 8 filed their counters and resisted the complaint. OP Nos. 1 and 8 resisted on the basis that all the payments were made to the complainants and nothing was due. Opposite party No. 2 also filed his counter stating that he had already resigned from the OP No. 1 firm. Opposite party Nos. 3, 4 and 5 did not file their counters. Opposite party No. 6 filed her counter stating that the entire firm was managed and controlled by Sri M.V. Sastry, father of 5th OP and P.S. Bhaskar Rao brother-in-law of Mr. M.V. Sastry. She also represented that she had retired and is not concerned with the affairs of the firm. Opposite party No. 7 filed his counter stating that he had nothing to do with the partnership firm or its sister concern the Abheeshta Finance limited Company as neither he was the partner of the firm nor the director of the company.