Before the District Forum:Kurnool
Present :Sri K.V.H.Prasad, B.A., LL.B., President
And
Smt C.Preethi, M.A., LL.B., Member
Sri R.Ramachandra Reddy, B.Com., LL.B., Membe
Friday 7th day of November, 2003
C.D.No.107/2003
C.Parvathamma Alias CH.Parthavathamma,
W/o Chandra Sekhar Gupta,
D.No.25/208-A,
Sanjeeva Nagar.
Nandyal,
Kurnool Dist. . . . Complainant represented by his
Counsel Sri J.Swamy Reddy.
-Vs-
- Adala Reghava Reddy,
Chairmand And Managing Director,
Medinova Diaghnostic Service Ltd,
6-3-652Kowtilya,
3rd Floor,
Somajiguda,
Hyderabad . . . Opposite party No.1 represented
his counsel Sri P.V.Ramana Reddy
- Basu Takur,
Director,
Medinova Diagnostic Service Ltd.
6-3-652, Kautilya
3rd floor,
Somajiguda,
Hyderabad.
… Opposite party
O R DE R
1. This consumer dispute case of the complainant is under section 11&12 of the C.P. Act seeking a direction on the opposite parties to pay the complainant the maturity amount of RS.7,850/- in the fixed deposit bearing No. MDR 08468/IX with interest at 19% per annum from the date of the maturity till realization, RS.5, 000/- towards mental agony and RS.1,000/- towards the costs of the litigation and such other reliefs which the complainant may be entitled in the exigencies of the case.
2. The brief facts of the complainant’s case are that on 05.8.1998 an amount of RS.5, 000/- was deposited by the complainant with the O.P.No.1 for the maturity value of RS.7, 850/- which has to be refunded by 04-08-2001 and in token of the said deposit the opposite party No.1 issued a Certificate bearing NDR No.08468/IX in favour of the complainant accordingly. On maturity of the said deposit receipt was duly discharged by the complainant and sent to the opposite party No.1 requesting for the payment of the matured amount, even though the opposite party No.1 acknowledged the said letter on 21-08-2001 did not arrange the said amount. Again on 16-11-2001, the complainant has sent another letter requesting for payment with overdue interest from the date of actual payment. For non response by the opposite party No.1 to the above letter, the complainant personally gone to the Head Office i.e., (opposite party No.1) on 04-05-2002 and requested the opposite party No.2 for the payment of the said matured amount, and on the same day he has sent a letter dated 04-04-2002 stating that the scheme is stopped and that the matured amount of Rs.7,850/- will be paid after 8 months with unwanted conditions, for which the complainant given reply on 14-05-2002 stating that the said offer is not acceptable to him. All the above facts reveal that the conduct of the opposite party No.1 in not arranging the said amount is amounting to deficiency of service and driven the complainant to the Forum for redressal as the complainant was not only deprived of the matured amount, but also was put to mental agony and costs of this litigation.
3. In-spite of service of the notice of this Forum as to this case of the complainant the opposite parties neither turned up to the proceedings nor made any contest to the complainant’s case dis-owning their liability.
4. The complainant in support of its case relied upon the documentary record marked as Ex.A1 to Ex.A6 besides to his sworn affidavit in re-iteration of its case and the documents.
5. Hence the point for consideration is whether the complainant has made out the alleged deficiency of the service on the part of the opposite parties in defaulting the payment of the matured amount and there by his entitleness to the reliefs claimed?:-
6. The Ex.A1 the attested Xerox copy of the MDR.No.08468/IX issued on 05.08.1998 to the complainant by the opposite party receiving Rs.5,000/- from the complainant envisages to pay the said amount with interest on 04.08.2001 as Rs.7,850/-. Its original said to have been submitted to the opposite party by the complainant duly discharging it for the payment of the matured amount. The Ex.A2 covering letter and Ex.A3 is the acknowledgement envisages the said submission and Ex.A4 reveals that the complainant sent another letter about the said claim Ex.A5 is that letter of opposite party addressed to the complainant and Ex.A6 is the reply of the complainant to Ex.A5. The said factum reiterated in the sworn affidavit of the complainant was not rebutted by the opposite parties side. The Ex.A1 is the provisional receipt and the receipt for the demand draft and it envisages the payment of the deposit amount to the opposite parties b the complainant. The said factum was also not rebutted by the opposite parties side. The above material clearly establishes the privy between the complainant and the opposite parties.
7. When the Company or a Firm invites deposits on a promise of attractive rates of interest, it is a service and the depositor is a consumer as per the decision of the National Consumers Disputes Redressal Commission in Neela Vasanth Rajee V/S Among Industries and another reported in 1993 (3) C.P.R page 345.
8. The Maharastra State Consumer Disputes Redressal Commission, Mumbai in Sanchayani Savings Investments (India ) Limited V/S Vatsala Baba Saheb Gaiquad Reported in I (2003) CPJ 260 holds the Financial Institutions deficient in its service in not honouring the Commitments when amounts under various deposits with the accrued benefits are not released to the depositors.
9. As the opposite parties has accepted the deposits of the complainant to pay the maturity amount of Rs.7, 850/- on the date of the maturity they are under the service obligation to honour their commitment and when they avoid for honouring their commitment by releasing the accrued amounts to the depositor their conduct in the light of the above decisions is amounting to deficiency of service towards the depositor.
10. In the light of the above substantiated record as the privy of the complainant with the opposite parties and the liability of the opposite parties towards the complainant and the opposite parties deficiency of service at their non responsive conduct as is made out there appears every bonafidies in the cause of action and claim of the complainant.
11. Therefore, the complaint is allowed ordering the opposite parties jointly and severally to pay the maturity amount of Rs.7,850/- under the MDR.No.08468/IX with an interest at 9% per annum from the date of the maturity, Rs.1,000/- towards mental agony and Rs.1,000/- towards costs within a month of the receipt of this order. In default, the opposite parties are jointly and severally liable to pay the awarded amount with 12% interest per annum from the date of the said default till realization.
Dictated to the Stenographer, Typed to the Dictation corrected by us, pronounced in the Open Court this the 7th day of November, 2003
PRESIDENT
MEMBER MEMBER
APPENDIX OF EVIDENCE
Witnesses Examined
For the complainant:- Nil For the opposite parties:- Nil
List of exhibits marked for the complainant:-
Ex.A1 Attested copy of Membership receipt MDR No.08468/IX R period from 05-08-1998 to 04-08-2001 matured value for Rs.7,850/- .
Ex.A2 Office copy of Letter addressed by the complainant to opposite party.
Ex.A3 Acknowledgement dated 21-08-2001 of opposite party for receipt of Ex.A1.
Ex.A4 Carbon copy of Letter dated 16-11-2001 by complainant to opposite party.
Ex.A5 Letter dated 04-04-2002 addressed by opposite party to the complainant.
Ex.A6 Office copy of the Letter dated 14-05-2002 addressed by the complainant to opposite party.
List of exhibits marked for the opposite parties:- Nil
PRESIDENT
MEMBER MEMBER
