The Consumer Disputes Redressal Forum has directed South Kanara Agriculturist Cooperative Marketing Society (SKACMS) to refund the amount with 9 % interest to V. Krishnaprasad, V. Sathyamurthy and V. Subraya, who had invested Rs 5,000 each in the fixed deposit scheme of the society, reports the daily The Hindu.
All the three investors had repeatedly demanded their payment from the society but their demands had fallen on deaf ears.
And finally, the investors were left with no choice but to bring their complaints to the forum which ruled ex parte in favor of the investors as the society did not appear before the forum despite several notices.