A.K.ANNAMALAI J. - (1.) The opposite parties are the appellants.
(2.) The respondent/complainant filed a complaint against opposite parties for the direction of to pay the matured amount of Rs.7,65,700/- from the date of maturity with 12% interest on the basis of deposits made in National Savings Bond and for the cost.
(3.) The details of the complaint in brief are as follows :- The complainant being the Secretary and Assistant Director ofAllIndia Handlooms Committee deposited a sum of Rs.3,80,000/- received from the Handloom Exhibition for 6 years with the value of Rs.10,000/- each in 38 bonds and each bond having maturity value of Rs.20,150/- on the face value of Rs.10,000/- on 23.4.04. After the date of maturity when the amount was claimed a cheque was issued for Rs.7,65,700/- towards maturity value for all the deposits made and subsequently on the instruction of stop payment the cheque was returned and when the complainant sent a notice on 10.6.04 a reply was sent stating that the bonds were issued against the rules for which interest cannot be paid and the principal amount alone was payable. This would amount to deficiency of service and thereby the complainant come forward with this complaint.;