YASORAAZ CHIT FUNDS (P.) LTD. Vs. V.SARASWATHI
ANDHRA PRADESH STATE CONSUMER DISPUTES REDRESSAL COMMISSION
YASORAAZ CHIT FUNDS (P.) LTD.
Click here to view full judgement.
(1.) THE unsuccessful opposite party who
remained absent in C.D. No. 159/96 on the file of District Consumer
Forum, Ranga Reddy, is the appellant before this Commission.
(2.) THE case of the complainant is that the complainant joined as a member of the chit series YSP1Z floated by the opposite party for a sum
of Rs. 1,00,000/ -. The amount is to be paid at the rate of Rs. 2,500/ -
per month in forty (40) months. The chit has commenced in February, 1995.
The complainant paid 17 instalments and in the auction held on 24.3.1996,
she was declared as the highest bidder for an amount of Rs. 35,000/ -.
After deducting the bid amount of Rs. 35,000/ - the opposite party is
bound to pay the prize amount of Rs. 65,000/ - for which the complainant
has furnished adequate sureties. The opposite party has issued a cheque
dated 10.5.1996 for Rs. 33,140/ - only drawn on A.P. Mahesh Co -operative
Urban Bank Ltd. and when she presented the cheque through her banker, the
cheque was bounced for want of sufficient funds. The complainant was also
given another cheque dated 17.5.1996 for Rs. 30,000/ - drawn on the same
Bank which was also bounced for the same reason. When the complainant
approached the opposite party, the opposite party gave another cheque
dated 19.5.1996 for Rs. 30,000/ - drawn on the Vysya Bank Ltd. MIG
Extension Counter, BHEL, with an ante -date and when she went to draw the
amount she was informed that there was no amount in the account of the
opposite party. The opposite party after taking back the first and second
cheques issued a third cheque on 19.5.1996 and it was also dishonoured
for want of sufficient funds, and the opposite party has taken away this
cheque also. The complainant sent a registered notice dated 24.9.1996 and
the opposite party sent a reply dated 3.10.1996 demanding her to pay a
sum of Rs. 57,500/ -. Thereupon the complainant approached the District
(3.) THE opposite party in its written version admitted of issuing the cheque dated 10.5.1996 for Rs. 33,140/ - towards part -payment of the
prize money and the same was bounced for want of sufficient funds. It
also further admitted that it issued another cheque dated 24.5.1996 for
Rs. 33,140/ - drawn on the Mahesh Co -operative Urban Bank Ltd., cancelling
the words Account Payee cheque and making it a bearer cheque, to enable
the complainant to draw the cash and the complainant has drawn the cash
on 27.5.1996. It also admitted that the cheque dated 17.5.1996 for Rs.
30,000/ - issued by it has bounced and they have issued another cheque dated 19.5.1996 drawn on Vysya Bank Ltd., MIG Extension Counter, BHEL
cancelling the Account Payee cheque to enable the complainant to draw the
amount and that they have filed a suit before the Sub -Court.
Basing on these pleadings and the evidence adduced, the District Forum partly allowed the complaint directing the opposite party
to pay Rs. 33,140/ - with interest at 12 per cent per annum from 1.4.1996
till the date of realisation besides costs of Rs. 1,000/ -.;
Copyright © Regent Computronics Pvt.Ltd.