J. M. Malik, Presiding Member—Sh. Jayadhar V., the complainant is a subscriber of chitty in the Karala State Financial Enterprises Ltd.-OP-I. The Branch Manager and the Managing Director are its functionaries and have been arrayed as OPs-2&3. The said Chitty was prized to the complainant and complainant received the prized chitty amount in the sum of Rs.70,000/-. Since security was required to be furnished for the prized amount, the complainant deposited the prized chitty amount in a fixed deposit scheme of OP-1 at the rate of 9.5% interest for a period of three years with facility to draw accrued interest and to adjust to the chitty instalments. The monthly interest for that FDR was Rs.554/-. The monthly interest was transferred into Sugama Account of the complainant every month and he also authorized the OP-2 to withdraw that interest amount in the sum of Rs.554/- from the Sugama Account in the next month to adjust the same in Chitty installment.

2. For operating the Sugama Account passbook, the OP received the passbook on 05.09.2005. He, however, did not return it till 30.09.2005. After receipt of it, the complainant noticed some irregular and illegal transactions entries in