M.THANIKACHALAM, J. - (1.) This appeal arises out of an order, passed by the District Forum in CC.No.36/2006, dt.22.7.2010, wherein a direction has been issued to pay a sum of Rs.4,48,702/-, being the matured deposit amount, with compensation of Rs.5000/- and cost of Rs.2000/-.
(2.) The father of minor petitioner, died in a road accident on 13.4.1993, for which a case was filed in MCOP No.208/93 on the file of Chief Judicial Magistrate, Pudukkottai, wherein an award was passed for a sum of Rs.75000/- with a direction to deposit the same in a Nationalised Bank, till the minor attains majority for 13 years, fixing the matured value of Rs.4,48,702/-, including rate of interest @ 14%. The opposite party, instead of paying the amount as agreed @14% interest, informed that the maturity amount is only Rs.3,35,025/-, reducing the rate of interest on its own at 6.5%, for which they have no power, since it offends the contractual rate of interest, because of reduction in interest, the complainant is put to loss of RS.1,13,697/-, which also caused mental agony, for which the complainant is entitled to a sum of Rs.10000/-, for which the opposite party should be held responsible.
(3.) The opposite party admitting the deposit received from the court on 30.1.1996 for Rs.75000/-, for a period of 13 years, would contend that they have agreed to receive the deposit amount, to repay the same after maturity period, with the then prevailing rate of interest, that as on the date of filing the complaint, deposit was not matured, and therefore there is no cause of action, that the dispute raised is not a consumer dispute, and therefore the consumer forum has no jurisdiction, praying for the dismissal of the case.;