By Sri. A.S. Subhagan,  Member:

          This  is a complaint filed under section  35 of the Consumer Protection Act 2019.

          2. Facts of the case in brief:-  The Complainant  had  made a total amount of fixed  deposit of Rs.55,000/-  in Opposite Party’s financial institution  named KODISH NIDHI LIMITED.  The  first deposit of Rs.10,000/-   was made on 11.05.2020  and the  second deposit of Rs. 45,000/-  was made on 20.06.2020.   On maturity of the Fixed Deposits,  when the Complainant visited the Opposite Party’s institution,  it was known that the institution was not working.  Hence the Complainant  has approached the Commission praying for the refund of the Fixed Deposit. 

          3. Summons was served on the Opposite Party for appearance but it was returned as left and hence the Opposite Party was set ex-parte.   

4. The Complainant filed  chief affidavit,  documents, Exts.A1 and A2  were marked from this side and  he  was examined as PW1.  Exts.A1 and A2 are the copies of  Fixed  Deposit Receipts made by the Complainant with the Opposite Party.  In oral evidence the Complainant has reiterated his allegation.

          5. The  Opposite Party was set ex-parte  and hence  the  Commission has no option than to believe the contention of the Complainant.  Accepting  fixed  deposits  from  the Complainant and leaving the place to escape from making refund of its maturity value  to the depositor is purely unfair trade practice/deficiency in service.  So,  here there has been unfair trade practice/ deficiency in service on the part of the Opposite party and hence  the Complainant has the right to get the maturity value of the fixed deposit made with the Opposite Party.

          In the result,  the complaint  is allowed ordering the Opposite Party to make  payment of the maturity value of the Fixed Deposits to the Complainant within one  month from the date of this order failing which the amount will carry interest at the  same rate  of   interest   applicable to the  Fixed Deposits plus  two  per cent penal interest from the  date of  this  order  till  realization of the amount. 

          Dictated to the Confidential Assistant, transcribed by him and corrected by me and pronounced in the Open Commission on this the 25^th   day  of  August 2022.

          Date of filing:24.11.2021.

                                                                   PRESIDENT:  Sd/-

                                                                   MEMBER   :   Sd/-

                                                                    MEMBER   :  Sd/-

APPENDIX.

Witness for the complainant:

PW1.           Sarojini.                 Complainant.

Witness for the Opposite Party:

Nil.

Exhibits for the complainant:

A1.           Copy of  Deposit Receipt.                     dt:11.06.2020.

A2.           Copy of Deposit Receipt.                      dt:20.06.2020.

Exhibits for the Opposite Party:

Nil.