2000 (6) TMI 766

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... sought the following reliefs in the complaint : (i)direct the opposite party to repay the amount of Rs. 4,25,000 on account of maturity of FDRs, as issued by the opposite party as per the details submitted above; (ii)direct the opposite party to pay a sum of Rs. 1,30,200 as interest @ 24% p.a. on the principal amount of Rs. 4,25,000 w.e.f. 1-5-1998 (the date the interest was arbitrarily stopped by the opposite party) till July, 1999. Opposite party should also pay the balance amount due after July, 1999 till actual realisation @ 24% p.a. (iii)direct the opposite party to give a compensation of Rs. 2,00,000 to the complainant for mental harassment and agony which they have gone through especially when the wife is suffering from a r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nbsp;   On maturity of the amounts, the opposite party has withheld their money without any reason. The non-payment of the amount amounts to deficiency in service on the part of the opposite party, hence the opposite party is liable to refund the deposited amount with interest. 2. Notice of the complaint was issued and in pursuance of which the opposite party has filed the written reply with the plea that the opposite party has been declared a sick industrial unit by the Board of Industrial and Financial Reconstruction vide order dated 29-12-1998 and IFCI was appointed as Operating Agency to make rehabilitation proposal of the industrial unit. It has been further pleaded that since the unit is closed since 1-6-1998 and has bee....