D.O.F : 04/11/2023
D.O.O : 11/06/2024
IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KASARAGOD
CC.346/2023
Dated this, the11th day of June 2024
PRESENT:
SRI.KRISHNAN.K : PRESIDENT
SMT.BEENA.K.G : MEMBER
V. J. Chacko, aged 79 years
Vadana House
Adottukaya, Malakallu P O
Vellarikkund Taluk, Kasaragod. : Complainant
And
Administrator/ Secretary
Kanhangad Block Printing&
Publishing Co-operative society Ltd
No S 299, Malakkallu P O
Rajapuram (via) Vellarikkundu Taluk
Kasaragod district. : Opposite Party
ORDER
SMT.BEENA.K.G : MEMBER
The complainant is a senior citizen and opposite party is a printing and publishing cooperative society. On 25/09/2019, the complainant had deposited an amount of Rs. 3,50,000/- with opposite party, the interest offered was 8.5% yearly. The aforesaid FD renewed on 27/09/2021. Then the amount was 4,23,500/-. The said amount was again renewed with opposite party at an interest at the rate of 7.25%per year, the maturity date of the FD was on 28/09/2023. On maturity, when the complainant approached the opposite party for closing the FD, opposite party was not ready to refund the matured amount. The complainant kept the amount as FD to meet her unforeseen emergencies. And due to the deficiency in service and unfair trade practice on the part of opposite party, the complainant had undergone monitory loss and mental agony. Hence the complainant is seeking direction against opposite party to refund the matured amount with interest along with a compensation of Rs. 66,500/- with cost of Rs. 10,000/-.
Notice of opposite party returned stating unclaimed. Name of opposite party called absent, set exparte.
The complainant filed proof affidavit. Ext.A1 FD receipt produced. Heard the complainant. The main questions raised for consideration are;
- Whether there is any deficiency in service or unfair trade practice in non-refund of the FD amount after maturity date?
- Whether the complainant is entitled for relief?
- If so, what is the relief?
All questions can be discussed together. The case of the complainant is that, she had deposited an amount of Rs. 3,50,000/- as FD with opposite party for one year, with an interest rate of 8.5%. Ext. A1 is produced to prove the deposit with opposite party. The amount was matured on 27/09/2022 and the amount with interest was again renewed for one year at an interest rate of 7.25%, that deposit was matured on 28/09/2023. But when the complainant approached opposite party to withdraw the amount, the opposite party was not ready to refund the amount. . The cause of action for the complaint arose on the date of deposit and on the date of rejection of the matured amount in Kanhangad block, Kasaragod District within the jurisdiction of this commission.
The complainant is a senior citizen now aged 79 years. He kept the amount to meet his incidental expenses. But withholding the deposit after the maturity period amounts to unfair trade practice and deficiency in service. Complainant is entitled to get the FD amount with offered interest and cost of litigation. In the absence of rebuttal evidence the opposite party is liable to compensate the monitory loss and hardships undergone by the complainant due to non-disbursement of the amount
The relief sought by the complainant is to refund the FD amount with interest as offered with a compensation of Rs. 66,500/- with cost of litigation.
Therefore, the complaint is allowed, directing opposite party to refund Rs. 4,23,500/- (Rupees Four Lakhs Twenty Three thousand and Five hundred only) with 7.25% interest from 28/09/2022 till payment with a compensation of Rs. 50,000/- (Rupees Fifty thousand only) to the complainant with cost of Rs. 5,000/- (Rupees Five thousand only) within 30 days from the date of receipt of copy of this order.
Sd/- Sd/-
MEMBER PRESIDENT
Exhibits
A1 – FD receipt
Sd/- Sd/-
MEMBER PRESIDENT
Forwarded by Order
Assistant Registrar
JJ/
