JUDGMENT :

1. The appellants are the defendants in the suit O.S.90/2001 on the file of Senior Civil Judge, Kadur. The said court by its judgment dated 16.7.2003 directed the defendants to pay Rs.2,41,500/-with costs to the plaintiff. Hence this appeal.

2. In a nutshell the pleadings are as follows : -

Attracted by high rate of interest introduced by the appellants in a scheme called MIS, the plaintiff made certain investments on different dates in the post office at a place called Yagati, Kadur Taluk. Details of the investment are as follows :-

The interest being accrued every month on the above deposits was being credited to the S.B. Account of the plaintiff at the post office. The plaintiff wanted to close the above deposit accounts and when he approached the Post Master, the latter insisted on an application to be given for withdrawing the