retrieval of money paid to the society in default

[leelasastry]

i donot know whether it comes under this topic or not. it is concerning the getting back of my money which was invested in the vyalikaval house building co-operative soceity nearly 30 years back. this was already posted in the forum. The recent developement in the issue is the verdict given by the Supremecourt that the Soceity is not a genuine one and is not authorised to acquire the land for developement and ditribution of sites. In this context my point is how to get back my money with interest because had i invested that amount in any other venture including gold returns could have been fabulus. I would like to discuss the issue with someone who is facing the similar predicament. In fact i filed a case in the consumer forum and won the case. THAT WAS IN 2002. But at that point the soceity told me that they didn't have money and as and when they realised some money definitely they would give back the amount with out being asked.In all good faith I waited all these years. Recently I came to know that they had paid the amounts collected from members with out interest. It is very unfair to do that because the monies borrowed from the banks we have to pay with interest and if not paid like that the severe action would be taken. Any way my point is they went back on their word and didn't pay me any thing as per the word given by them. COULD SOME BODY SUGGEST any course of action. I am told that I don't have any case because i kept quiet and didn't take any action on them with in a time schedule after the consumer forum's verdict . Is that correct?

[leelasastry]

In Bangalore Mirror , recently a news item had come saying that the vyalikaval house building co-operative society is going to sell some 24 acres of land in Nagavara and repay the principal amounts to the soceity members the principal amounts only. When they want to sell the land at corrent market price ,the land which they acuired at the prevailing rates at the time of purchase how can they give to us only the pricipal amount? Apart from that when we requested to return our money or give a site they pleaded that they didn't have either money or sites . Now where from this land has come? Even now why can't they give us the sites or atleast a part of the money they are going to get per site ,instead of throwing mere pittance on our faces which was a huge amount some 30 years back . At that time with amount we could have bought some 5 sites in private layouts . WE WERE APPREHENSIVE ABOUT THE SINCERITY of those private parties and like fools went for this soceity believing in all good faith that they would give sites to us. The gentleman who was in charge of this activity was working in The Indian Institute of Science at that time . Banking on the name of the Institution also we went for this , even though there is no guarantee of the trustiworthyness of the employees , just because , they are working in an Institution of repute. Recently WE READ ABOUT THE FAMOUS CASE of Rajath guptha in USA ." That the justice was meted out and the guilty were punished" happened in that country . In India nothing of that sort happens ,because here the attitude is ,"what if some injustice happens some where ,we are safe ,why should we interfere and break our heads'". The soceity amassed millions of rupees by advertising about their project, and gave different excuses at different times for not adhering to their word .and made properties worth crores , and now says they would give the principal amounts only . This is the best formula to become billioneers with out shelling a single nayapaisa from their coffers and all the way enjoying the best comfortsof life at the expense of others. WHY CAN'T govt come forward and do justice to us? Why can't the judicial system imose restrictons and see to it that the justice isdone to the aggreived parties? What happened in the name of the functioning of a co-operative society is nothing but white collered robbery in which most of the high and mighty are culprits.

[msn1270]

if you have all the related documents, you can file a case at Consumer Court for lapse of service against the society.