ORDER

Dr. P.D. Shenoy, Member - FA No. 453 of 2004 and FA No. 454 of 2004 emanate from the same order dated 28th July, 2004 in Complaint Nos. 9 and 8 of 2003 of the State Commission, Goa, Panaji. FA No. 453 of 2004 is filed by Shri Sadanand Sundar Rao Mahajan and other 56 members, whereas FA No. 454 of 2004 is filed by Mrs. Vasanti K Khanwte and other 211 members. Both the groups of appellants are represented through "All Goa Manipal Finance Group of Companies Creditors Association". As the issues are similar and the representatives of the appellants and the respondents are the same in both the matters, we have heard these matters together and propose to pass a common order.

Facts:

2. The factual matrix of the case in brief is that most of the complainants are senior citizens, retired and sick persons who are entirely dependent on the interest accrued on the deposits made by them with the respondent Corporation. It is the case of the appellants that through various Press statements and public gimmicks the respondents introduced deposit schemes and invited applications from the public. In response thereto, the complainants deposited their hard-earned money in different schemes, i.e. S