KIRAN KRISHNA REAL ESTATES & CONSTRUCTIONS PVT. LTD Vs. DONTAMSETTI NAGA MANI

JUDGEMENT

(1.) The opposite parties no.1 and 2 are the appellants. The appeal is filed against the order of the District Forum-I, Visakhapatnam in C.C.No.159 of 2007 whereby the opposite parties no.1 and 2 were directed to refund Rs.60,000/- + Rs.70,000/- + 22,800/- along with interest @ 12 p.a. together with compensation of Rs.12,500/- and costs.

(2.) The brief facts of the case as represented by the complainant are that the appellant no.1 had been dealing in real estate business. The appellant no.2 was engaged in Agro-tech scheme and invited the public to invest in their schemes. The respondent paid instalments to the appellant no.1 towards purchase of house plots and paid a sum of Rs.60,000/- to the appellant no.1 till January 2000 and also she had paid an amount of Rs.70,000/- to the appellant no.1 till 27.8.2001. The respondent deposited a sum of Rs.1,200/- each per month for a period of 19 months till 28.8.2001 with the appellant no.2. The instalment amounts to Rs.22,800/- was deposited with appellant no.2 which had closed its Agro-tech scheme by promising to refund the amount deposited by the respondent. The appellants failed to develop the layout as promised or refund the amount, the appellants executed two promissory notes one for Rs.60,000/- dated 2.1.2000 and another for Rs.70,000/- on 27.8.2001 as guarantee for repayment of the amounts paid by the respondent and informed the respondent that the plots would be registered in her name as and when the layout is developed.

(3.) The appellant no.1 had not executed sale deeds in favour of the respondents nor had taken steps to refund the amount due under promissory notes that were executed under the Agro-tech schemes and postponed to refund the amounts on the promise that the sale deeds would be executed in her favour. The appellants had got published a notice in Eenadu daily on 11.12.2006 inviting the members to approach them for refund of the amounts and registration of the plots. The respondent requested the appellants to refund the amount whereon the appellants had bargained to pay the actual amounts paid by the respondent. Having been not satisfied with the bargain amount, the respondent claimed a sum of Rs.60,000/- on promissory note dated 2.1.2000 and Rs.1,03,128/- interest on the said amount, Rs.70,000/- under promissory note dated 27.8.2001 along with interest of Rs.92,561/- thereon and Rs.22,800/- with interest a sum of Rs.33,134/- as also a sum of Rs.2 lakhs towards compensation and Rs.10,000/- towards costs.