I have invested into Adarsh credit co-op society and my deposits has also got matured. But the credit society is not paying. What can I do?
I C Naik
Relationship between a Depositor and Credit Society is held to be that of Service receiver and service provider respectively. Where liability of a matured deposit is not honoured it is reckoned as a deficiency in service by the Service Provider it terms of Provisions of the Consumer Protection Act, 1986 Every district/State has District State Consumer Court which accept Complaints of Consumers against service providers in respect of a deficiency in service. Complaints worth Rs 20 lacs or less are within the jurisdiction of a District Court. Consumer can himself argue Housing Society case as it is based on facts and not legal issues.