RIDHI SIDHI INDUSTRIES vs ASHOK KUMAR BRIJMOHAN DALMIYA

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 and on hearing the learned Advocates for both the parties.

THE appellants herein are Original O.P. Nos. 1 and 2 and they have taken exception to the order dated 5.9.2001 passed by the District Forum Akola, holding them deficient in service vis-a-vis respondent No. 1/original complainant in the matter of refund of the amount with accrued benefits received by the appellant from the complainant/respondent No. 1 on deposit basis. The District Forum, on hearing both the sides including the complainant and O.Ps. found the merits in the claim of the complainant, which was satisfied with the pleadings, having investigated the amount as a way of deposit requisitioned by the appellants herein/orgl. O.P. Nos. 1 and 2 for raising finance for the purpose of their business, as also failure on the part of the O.Ps. to honour their commitments to make the refund with accrued benefits to the complainant and so holding has made the award.

Across, the learned Advocate for appellants submitted that Fora was not justified in passing the award in the case of O.P. Nos. 1 and 2 by leaving O.P. No. 3 who was also a partner.

IT is to be stated that O.P. No. 1 is a Partnership Firm and original O.Ps. 2 and 3 are its partners. The Forum has passed order against the Partnership Firm as well and under the provisions of Indian Partnership Act, award made against the Partnership Firm binds its partners as well. That being so, we do not find any merits. Second point raised is about rate of interest passed by the District Forum.

WHILE ordering refund of the amount of deposit received from the complainant, Forum has awarded interest at the rate of 21% p.a. which appears to be on higher side. In fact the situation as obtained in the matters herein, interest at the rate of 10% will be fair and reasonable. We are modifying the impugned order to the extent as under. ORDER Appeal is partially allowed to the extent as under : 1. Award of refund of Rs. 1,00,000/- by the O.Ps. to the complainant stands confirmed. 2. Rate of interest payable will be at the rate of 10% p.a. with effect from 2.8.2001 till realisation. 3. As far as this appeal is concerned, no order as to cost. 4. To clarify this indulgence is extended on the basis of the reasons made by and on behalf of appellant''s Advocate. 5. Since we have disposed of appeal on merits, M.A. Nos. 601 & 602/2003 to be treated as disposed of. 6. Office to furnish copies of the order to the parties.

Appeal partially allowed.