PEARLS GREEN FORESTS LTD Vs. JYOTI RANI

JUDGEMENT

(1.) On a complaint filed by the respondents, the District Forum, Hisar had ordered the appellant to pay interest on the deposited amount at the rate of 18% per annum and clear the amount in instalments of Rs.50,000/- per month.

(2.) Brief facts of the case are, that the amounts to the tune of Rs. one lac each in the names of Jyoti Rani and Mamta and Rs.50.000/- in the name of Geeta Rani, all minors, were deposited with the appellant-Company under their units scheme. The deposit was made for a period of six years and at the end of the said period an amount of Rs.2,20,000/- each was payable to Jyoti Rani and Mamta and Rs.1,10,000/- to Geeta Rani. However, apprehending that the appellant-Company was not making use of the funds in the scheme for which they were taken and also fearing that the amount may not be returned on the due date. Smt. Kamla mother and guardian of the minors filed the complaint before the District Forum for refund of the money immediately. The complaint was not contested by the present appellants and on their assurance that they would make payment @ Rs.50,000/- per month to clear the invested amount, the District Forum passed the impugned order. In addition to the invested amount the District Forum directed the appellants to pay interest @ 18% per annum.

(3.) In the appeal before us, the main contention of the appellants is that the complaint could not be filed at Hisar as in the agreement signed for the sale of its units, the investors had accepted that all cases would be triable at Chandigarh only. However, in view of the fact that the appellants had voluntarily submitted themselves to the jurisdiction of Hisar Forum and also the fact that the order was passed on the basis of the offer made by the appellant's representative before the District Forum, we cannot entertain this contention of the appellants at this stage.