Date of filing : 11-08-2011
Date of order : 18 -10-2012
IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD
CC.202/2011
Dated this, the 18th day of October 2012
PRESENT
SRI.K.T.SIDHIQ : PRESIDENT
SMT.P.RAMADEVI : MEMBER
SMT. K.G.BEENA : MEMBER
Baburajan.K.R, S/o.P.V.Raman, } Complainant
R/at “Kadayanganam House”, Peria.Po,
Kasaragod. 671316.
(Adv. K.Shrikantashetty, Kasaragod)
1. A.J.Financial Solutions, Admn: Office, } Opposite parties
212 G.J, Patel Complex, 2nd Main,
Vyk circle, P.G.Halli, Bangalore, Rep. by
It’s Managing Partner.
(Exparte)
2. A.J. Financial Solutions,
Branch office, Nileshwar, Kasaragod. 671314,
Rep. by Anilkumar.P.V, S/o. Govindan Nair
(Ex-Military), G-Café, Happy Tourist Home,
Near L.I.C Office, Nileshwar.
(Exparte)
3. Anilkumar.P.V. S/o.Govindan Nair(EX-Military)
Kayyur House, Kayyur.Po. Kasaragod.Dt.
(Adv.P.Narayanan, Kanhangad)
4. Ansih, S/o. Vargees, Pallan, Chembanthoty.Po,
Kannur.Dt.
(Exparte)
O R D E R
SMT.K.G.BEENA, MEMBER
The complainant is alleging deficiency in service and unfair trade practice on the part of opposite parties in coercing the complaint in investing amount with opposite party No.2 branch office of a financing, leasing credit organization at Nileshwar when the complainant asked his invested money back from opposite parties, they refused to refund telling that the share market is in loss and complainant’s money lost. Hearing this news complainant got shocked. Hence this complaint.
2. Opposite party No.3 filed version stating that complainant is not a consumer. Opposite party No.3 has not received any amount for rendering any service to the complainant. According to opposite party No.3 he has not conducted the Finance Company by name A.J. Financial solution and he is not connected with the aforesaid financial institution. The complainant has deposited the amount directly to the 1st opposite party and they have issued receipt infavour of the complainant.
3. Notice of opposite party No.1 returned unserved. Opposite party No.2 absent inspite of receipt of notice, opposite party name of opposite party No.2 called absent and set exparte. Steps against opposite party No.1, paper publication in the local daily “Sanjveevani” allowed and fresh notice is ordered against opposite party No.4 in fresh address, served notice was absent when the case called, opposite party No.4 also set exparte.
4. Complainant filed proof affidavit produced documents which were marked as Exts A1 to A4. Opposite party No.3 filed affidavit. Ext.B1 marked. Complainant faced cross-examination by the counsel of the complainant. Heard both sides.
5. The brief facts of the complaint that opposite party No.1 is a financing leasing credit organization firm and opposite party No.2 is its branch office at Nileshwar. Opposite parties 3 & 4 are its partners. Opposite parties 3 & 4 induced their friends and relatives to invest money in opposite party No.2 for interest complainant is one among them. It is agreed that irrespective of loss or profit the interest will be paid to the complainant. During the initial months of business opposite parties paid the interest correctly thereafter the opposite parties evaded the interest payment by telling that their trade is in loss and entire interest will be paid when the share market gains profit. Complainant patiently waited for 2 years. Thereafter he asked refund of the invested amount, but opposite parties refused to return it back. Hence the complaint.
6. Opposite party cross-examined as DW1, he deposed before the Forum that opposite party No.4 was the Manager of opposite party No.2 branch. The registrar was also in the name of opposite party No.4. DW1 denied the suggestion that he was not a partner of opposite party No.2 firm run by opposite party No.3. DW1 admitted that complainant has deposited some amount with opposite party No.2. Opposite party No.3 also invested some amount with opposite party No.2. He produced Ext.B1 to prove the same. Exts A1 to A3 is not issued by him but opposite party No.4. Opposite party No.4 has taken the entire amount and cheated several personal including opposite party No.3,opposite party No.3 is only a staff of opposite party No.2 and he is in no way connected with the internal affairs of opposite party No.2. He was also a prey of opposite partyNo.2. On the lights of the documents produced before the Forum we are of the view that opposite party No.3 can be exonerated from liability.
7. It is clear from the complaint affidavit and documents that complainant had invested money with opposite party No.2 and it is not refunded so far. This amounts to deficiency in service on the part of opposite party No.3 and they are liable to refund the amount and compensate the loss and pain.
Hence the complaint is allowed and opposite parties 1 & 4 are jointly and severally liable to refund `2,75,000/- with interest @ 9% per month from 1-9-2009 till payment, with a cost of `3000/- within 30 days from the date of receipt of copy of order. Failing which `2,75,000/- will carry interest @ 12% per annum.
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
Exts.
A1. 3-4-2009 Pay in voucher issued by A.J. Financial solutions for an amount of `75,000/-.
A2. 21-4-2009 ,, `1,00,000/-.
A3. 22-4-2009 ,, `1,00,000/-.
B1. 6-5-2009 Receipt Voucher for an amount of `5,92,000/-
PW1. Baburajan.K.R.
DW1.Anilkumar.P.V.
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
Pj/ Forwarded by Order
SENIOR SUPERINTENDENT
