COMPLAINTS FILED ON:02.01.2012
DISPOSED ON:27.07.2012
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE (URBAN)
27th DAY OF JULY 2012
PRESENT:- SRI. B.S. REDDY PRESIDENT
SRI.A.MUNIYAPPA MEMBER
COMPLAINT Nos.06/2012 & 07/2012
Complaint no.06/2012 Complainant | Smt.C.K.Kumudini W/o Krishnappa, Aged about 65 years, No.G1, “Creative Nanda Apartments”, 5th Main, 5th Cross, CPV Block, Ganganagar Extension, Bangalore-560 032. |
Complaint no.07/2012 Complainant | Chirayu Krishnappa, S/o Krishnappa, Aged about 32 years, No.G1, “Creative Nanda Apartments”, 5th Main, 5th Cross, CPV Block, Ganganagar Extension, Bangalore-560 032. Represented by his Natural Guardian and G.P.A.Holder Smt.Kumudini. Adv:Sri.H.P.Hanumanthraju |
OPPOSITE PARTY/S | 1. Bangalore South Credit Co-Operative Society Ltd, No.492/K, 7th Cross, K.R.Road, 7th Block, Jayanagar, Bangalore-560 070. Represented by its Secretary. 2. The President, Bangalore South Credit Co-Operative Society Ltd, No.492/K, 7th Cross, K.R.Road, 7th Block, Jayanagar, Bangalore-560 070. 3. The Vice President, Bangalore South Credit Co-Operative Society Ltd, No.492/K, 7th Cross, K.R.Road, 7th Block, Jayanagar, Bangalore-560 070. Ex-parte. |
COMMON ORDER
SRI. B.S.REDDY, PRESIDENT
Both these complaints are filed Under Section-12 of the Consumer Protection Act, 1986 by the respective complainants seeking direction against the Ops to pay the fixed deposit amounts with interest at 24% p.a. and compensation of Rs.50,000/- on the allegation of deficiency in service.
2. In spite of service of notice, Ops failed to appear the official of Op1 though appeared but not filed version.
3.The complainants in order to substantiate complaint averments, each of these complainants filed affidavit evidence.
4. Arguments from complainant’s side heard,
5. We have gone through the complaint averments, the documents produced and affidavit evidence of complainants. On the basis of these materials, it becomes clear that OP1 is a Co-operative Society registered under the provisions of Karnataka Co-operative Societies Act-1959 and OP2 is the President, OP3 is the Vice President of Op1. These complainants became members of OP1 by purchasing share certificates each for Rs.200/-. The complainant in complaint No.06/2012 deposited an amount of Rs.1,30,000/- with OP1 and Op1 assured to pay interest at 10% p.a. on the fixed deposit, the fixed deposit matured during the 1st week of January-2009. OP1 failed to pay the fixed deposit amount with interest in spite of repeated demands and requests. OP1 issued cheque towards refund of the amount on 30.05.2009, but the same was dishonoured for want of sufficient balance in its account. OP2 and 3 also issued cheque on 15.02.2011, towards refund of Rs.1,30,000/- but the same was also returned for want of sufficient funds. The Legal Notice dt.30.05.2011 was issued demanding to pay the amount, Ops neither complied the demand nor refunded the amount. Thus the complainant claims fixed deposit amount of Rs.1,30,000/- with interest at 24% p.a. amounting to Rs.80,774/- and along with share amount of Rs.200/- total Rs.2,10,974/-.
6. The complainant in complaint No.07/2012 deposited an amount of Rs.1,38,000/- with OP1 and Op1 assured to pay interest at 10% p.a. on the fixed deposit. The fixed deposit matured during the 1st week of January 2009. Ops failed to pay the fixed deposit amount with interest. The cheque dt.30.04.2009 issued by OP1 towards the refund of the fixed deposit amount was returned for want of funds. The Legal notice was issued demanding the amount with interest dt.30.05.2011 Ops not complied the demand. Subsequently, Ops paid a sum of Rs.50,000/- on 18.04.2010 and another sum of Rs.12,000/- on 28.06.2011. Thus in all Ops paid Rs.62,000/- towards part payment. Thus the complainant is claiming F.D.amount of Rs.1,38,000/-, interest at the rate of 24% p.a. amounting to Rs.85,652/- and share amount of Rs.200/- total Rs.2,23,852/-. After giving deduction of Rs.62,000/-. The complainant is claiming the balance amount of Rs.1,61,852/-.
7. There is no reason to disbelieve the unchallenged affidavit evidence of the complainants, the documents produced. The very fact of Ops not appearing before the Forum and filing the version goes to show that Ops are not disputing the claim of the complainants. Interest claimed by the complainants at 24% p.a. is on higher side as the agreed rate of interest is 10% p.a. Thus the complainants are entitled to claim interest at 10% p.a. on the fixed deposit amount. An amount of Rs.62,000/- has been refunded in complaint No.07.2012. Interest at 10% p.a. from 01.01.2009 to 18.04.2010 on the amount of Rs.1,38,000/- works out at 18,400/-. Thus the total amount due including interest as on 01.05.2010 is Rs.1,56,400/- an amount of Rs.62,000/- paid is to be given deduction in the said amount. After giving deduction of 62,000/- in the total amount, the balance that remains is Rs.94,400/-. The complainant is entitled to claim interest at 10% p.a. on the said amount from 01.05.2010 till the date of realization. The complainant in complaint No.06.2012 is entitled for interest at 10% p.a. on the fixed deposit amount of Rs.1,30,000/- from 30.05.2009 till the date of realization. The act of Ops in not refunding the fixed deposit amount with interest amounts to deficiency in service. Under these circumstances, we are of the view that the complainants are entitled for refund of the amount of fixed deposit with interest along with litigation cost of Rs.2,000/- in each case. Accordingly, we proceed to pass the following:
O R D E R
Both these complaints filed by the complainants are allowed in part.
In complaint No.06/2012 Ops are directed to refund an amount of Rs.1,30,000/- with interest at 10% p.a. from 30.05.2009, till the date of realization and pay litigation cost of Rs.2,000/- to the complainant.
In complaint No.07/2012 Ops are directed to refund an amount of Rs.94,400/- with interest at 10% p.a. from 01.05.2010, till the date of realization and pay litigation cost of Rs.2,000/- to the complainant.
This order is to be complied within four weeks from the date of its communication.
This original order shall be kept in the file of the complaint No.06/2012 and a copy of it shall be placed in complaint No.07/2012.
Send copy of this order to both the parties free of costs.
(Dictated to the Stenographer and typed in the computer and transcribed by her verified and corrected, and then pronounced in the Open Court by us on this the 27th day of JULY-2012.)
MEMBER PRESIDENT
Cs.
