KONKAN VIBHAGIYA COMMITTEE vs KIRAN NARAYAN DANGI

WE are proceeding to dispose of this appeal at the stage of its admission itself on perusal of the material available in the appeal paper book. (For brevity''s sake appellants are referred to as ''Pat Sanstha'' and respondent No.1 as ''Depositor/Investor'').

PAT Sanstha is the appellant in this appeal who has challenged the order dated 14th October, 2002 passed by District Forum Sindhudurg, holding PAT Sanstha as deficient in rendering services to the Investor in the matter of repayment of invested amounts with accrued benefits on or after the date of maturity. District Forum has ordered to repay the said amount to the Investor with interest as also compensation of Rs. 6,000/-. It appears that there are several parties named as O.Ps. in the complaint. Some of which are the appellants herein. All said and done, all of them owe their nexus to the said Pat Sanstha namely Bhudargad Nagari Sahakari Pat Sanstha Maryadit.

As stated Pat Sanstha has challenged the said order. From the impugned order, it is noticed that despite service of process upon the Pat Sanstha and the other O.Ps. none responded either by appearance or filing written statement. That being so, District Forum has proceeded to investigate the claim made by the complainant-Investor and on being satisfied about the investment made by the Investor with Pat Sanstha as also about failure on the part of the Pat Sanstha to honour its commitment on or after the maturity date, award has been made by the District Forum.

BY and large, we find that award is just, fair and reasonable, needing no interference. Inasmuch as the proof with regard to the investment made by the Investor with the Pat Sanstha was found to be acceptable to the District Forum. That being so, we see no reasons to deviate from the findings of the District Forum in that respect. The rate of interest awarded @ 10% p.a. also on the basis of, upon which the Pat Sanstha has agreed to pay on the investment. We, therefore, confirm the same.

THERE is only one point in favour of the appellant-Pat Sanstha that the District Forum has awarded compensation of Rs. 6,000/- over and above the interest which has been awarded at higher rate as noticed hereinabove. In our view, sum of Rs. 3,000/- would be fair and reasonable amount of compensation in the circumstances. Hence the following order: ORDER 1. Appeal is party allowed to the extent as under- (i) Order of the District Forum as far as Operative Clause No. (b) is concerned, same stands confirmed with clarification that the liability for compliance of the said part of the order is of the said Bhudargad Nagari Sahakari Pat Sanstha Maryadit. (ii) The compensation of Rs. 6,000/- as awarded by the District Forum stands reduced to Rs. 3,000/-. (iii) As far as this appeal is concerned, no order as to costs. (iv) 8 weeks, time is granted to the Bhudargad Nagari Sahakari Pat Sanstha Maryadit for compliance of the order of District Forum as modified by us. (v) Appeal stands disposed of with no order as to costs. (vi) Office shall furnish copies of the order to the parties.

Appeal partly allowed.