Complainant present Lrd. Adv. Smt. Jayashri Kulkarni

Opponent absent (Ex-parte)

Per : Mr. V. P. Utpat, President              Place   :  PUNE

                                      J U D G M E N T

                                          12/06/2014                                                                            

          This complaint is filed by the consumer against the company for deficiency is service under section 12 of the Consumer Protection Act, 1986.  The brief facts are as follows.

1]       The complainant is a resident of Nigadi, Pradhikaran, Chinchwad.  The opponent no. 1 is a company situated at Mumbai and the opponent no. 2 is a broker, whose office is situated at Erandwane, Pune – 4.  It is the case of the complainant that he had invested an amount of Rs. 1,00,000/- with the opponent no. 1 through opponent no. 2, who had assured that the complainant will get interest @ 12.25% and the same is payable monthly.  The said amount was deposited for the period of three years.  The date of maturity is 6/12/2013.  The complainant was in need of financial assistance for his health problems therefore he wanted to withdraw the said amount.  But the opponent no. 1 and 2 neither paid principal amount nor interest.   According  to  the  opponents these acts of the

opponent no. 1 and 2 amounts to unfair trade practice as well as deficiency in service.  Hence, the complainant has claimed principal amount of Rs. 1,00,000/- along with interest @ 12.25% from 7.12.2010.  The complainant has also asked compensation of Rs.25,000/- for mental harassment and inconvenience.

2]      The opponent no. 1 and 2 though duly served remained absent, hence the complaint proceeded ex-parte against them.

3]      The complainant has filed affidavit, copy of fixed deposit receipt and the office copy of the letter, which was sent by him to the opponents.  It reveals from the fixed deposit receipt that an amount of Rs. 1,00,000/- was deposited by the complainant with the opponent no. 1 on 17/12/2010 and the date of maturity was 6/12/2013.  The allegations made by the complainant on oath remained unchallenged and corroborated by documentary evidence, such as copy of fixed deposit receipt and the office copy of the letter.  Hence, it is the opinion of this Forum that the opponent has caused deficiency in service by not returning principal as well as interest amount.  The complainant is entitled for the refund of Rs. 1,00,000/- along with interest @ 12.25 % as well as compensation of Rs. 10,000/- for mental harassment and inconvenience.  In the result we pass the following order.

                                     O R D E R

1. The complaint is partly allowed.

1. It is hereby declared that the opponents have caused deficiency in service by not returning principal as well as interest amount to the complainant.

1. The opponents are  directed  to refund

an amount of Rs. 1,00,000/- (Rs. One

Lac only) along with interest @ 12.25%

from 7/12/2010 till its realization, to the complainant within 6 weeks from the date of receipt of copy of this order. 

1. The opponents are further directed to  pay an amount of Rs. 10,000/- (Rs. Ten Thousand only) towards compensation for mental harassment and inconvenience within 6 weeks from the date of receipt of copy of this order.  

5.       Copies of this order be furnished to  the parties free of cost.

6.       Parties  are directed to collect the sets, which were provided for Members within one month from the date of order, otherwise those will be destroyed.