Mr. Justice R.N. Mittal, President — Briefly the facts arc that the complainants applied for a loan of Rs. 5 lacs to M/s. Rockland Leasing Limited—respondent, for purchasing a residential flat in NOIDA. It is alleged that before making an application for loan by the complainants the terms and conditions, under which the loan was to be advanced by the respondent, had been discussed by complainant No. 1 with Mr. Chawla; the Managing Director of the respondent and that the latter had assured that the loan would be given before 10th March, 1991.

2. In accordance with the terms on which the loan was to be advanced, a qualifying reserve of Rs. 1,25,000/- alongwith processing charges of Rs. 10,000/- was deposited by the complainants with the respondent as detailed below : —

(1) Rs. 50,000/- vide receipt No. 21076 dated 24th December, 1990.

(2) Rs. 20,000/- vide receipt No. 21087 dated 9th January, 1991.

(3) Rs. 65,000/- vide receipt No. 21097 dated 18th January, 1991.

3. It is pleaded by the complainants that the respondent did not give the loan before 10th March, 1991 between the parties, on the ground that the documents of title pertaining to the flat to be purchased did not meet the