Karnataka

Belgaum

CC/112/2016

Mahadev S Narewadikar - Complainant(s)

Versus

Dayanand S Thorwat. The Secretary of Shri Shrimanyogi Cr Sou Saha Ltd - Opp.Party(s)

S L Magadum And M A Mujawar

31 Jul 2017

ORDER

IN THE DIST.CONSUMER DISPUTES REDRESSAL FORUM BELAGAVI.

 

Dated this 31 July 2017

 

Complaint No.112 /2016

 

Present:            1) Shri. B.V.Gudli,                     President

                        2) Smt.Sunita                            Member

-***-

Complainant/s:

Shri. Mahadev S/o. Shivajirao Narewadikar,

Age: 68yrs., Occ: Retired,

                   R/o. Sankeshwar, now at plot 51,

Behind Datta Mandir, 3^rd bus stop,

Phulewadi, Kolhapur, Maharastra.

 

(By Sri.S.L.Magadum, Advocate)

 

 

                                                          V/s.

Opponent/s:

 

1.      Shri. Dayanand Shivaji Thorwat,

The Secretary, (C.E.O) of Shri Shrimanyogi Credit Souhard Sahakari Ltd., Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

2.      Shri. Mahadev Bandopant Davare,

The Chairman, of Shri Shrimanyogi Credit Souhard Sahakari Ltd., R/o. Pinjar galli, behind Vijay Theater, Sankeshwar, Tal: Hukkeri, Dist.Belagavi.

 

          3)      Shri Sambaji Maruti Kadam,

The Vice Chairman, of Shri Shrimanyogi Credit Souhard Sahakari Ltd.,

R/o. Near Police Station, old P B Road,

Sankeshwar, Tal: Hukkeri, Dist.Belagavi.

 

          4)      Shri. Pushpraj Dattatray Mane,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd., R/o. Nehru road, Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

          5)      Shri. Rajesh Sadashiv Gayakwad,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd.,

R/o. Kumbar Galli, Sankeshwar, Tal: Hukkeri, Dist.Belagavi.

 

          6)      Shri Deepak Pandurang Bhise,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd.,

R/o. Namaj Mal, infront of Mission Hospital,

Sankeshwar, Tal: Hukkeri, Dist.Belagavi.

 

          7)      Shri. Dundappa Ramchandra Kesarkar,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd., R/o. Math galli, Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

          8)      Shri. Basavraj Shankar Ankale,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd., R/o. Gadhinglaj road, Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

 

          9)      Smt. Kavita Vinayak Mastoli,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd.,

R/o. Dhang galli, Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

          10)    Smt. Anita Arun Savagaonkar,

The Director, of Shri Shrimanyogi Credit Souhard Sahakari Ltd.,

R/o. Chate Galli, Sankeshwar,

Tal: Hukkeri, Dist.Belagavi.

 

(O.P.1, 2, 7 & 10 by Smt.S.S.Exambi, Adv.

OP.3 to 6, 8 & 9 –exparte.)

(Order dictated by Smt.Sunita, Member)

 

ORDER

          1) The complainant has filed the complaint u/s. 12 of the Consumer Protection Act 1986 against the O.Ps. alleging deficiency in banking service of non refund of the amount of fixed deposits.

          2) Upon service of notice O.Ps. 1, 2, 7 & 10 appeared through his counsel & filed affidavit & objections. OP.3 to 6, 8 & 9 remain absent, hence placed exparte.

          3) In support of the claim in the complaint, complainant has produced original FDRs and some documents.

          4) We have heard the argument and perused the records.

          5) Now the point for our consideration is that whether the complainant has proved deficiency in service on the part of the O.Ps. and entitled to the reliefs sought?

          6) Our finding on the point is partly in affirmative, for the following reasons.

:: R E A S O N S ::

7) On perusal contents of the complainant and affidavit filed by the complainant, the complainant has deposited his amount in OP souhard as detailed below:

 

Sl. No.	F.D.R./ SB A/c. No.	Amount Deposited	Date of Deposits	Date of maturity/ Renewal	Maturity Amount/ claimed
1	2	3	4	5	6
1	2302/2378	67816	30.09.13	30.09.15	85448
2	2303/2379	67330	05.03.13	05.09.15	89248
3	2304/2380	50624	08.03.13	18.09.15	67104
4	794/781	50000	08.03.12	08.03.18	100000
				Total	241800

 

          8)      Further alleged that, after maturity of said F.D.Rs. the complainant approached the office of the opponents and requested the opponents to return the matured F.D.R/s amount, inspite of that opponents went on postponing the same by assigning one or other reasons. The complainant/s further allege that the complainants issued legal notice dt.04.11.2015 to OPs demanding for refund of the aforesaid matured FDRs amount. But the OPs failed to comply the same. Since the OPs failed to pay the matured FDRs amount the complainant is claiming pre-matured amount under FDR No.794/781. Hence opponents committed deficiency in service as contemplated under the provision of the consumer protection act 1986.

          9)      Upon service of notice O.Ps. 1, 2, 7 & 10 appeared through his counsel & filed affidavit & objections denying & disputing the complaint averments and further taken contention that the complainant has kept an amount of Rs.2,35,770/- in FD a/c in OP society by agreeing terms and conditions of the souhard. There is no deficiency of service on the part of OPs.  Hence prays for dismissal of the complaint with cost.

10)    On perusal evidence affidavit of the complainant, the complainant produced original FD Receipts, they are in the name of complainant.  It is well settled legal position that non payment of the amount deposited, amounts to deficiency in service.

          11)    During the pendency of the complaint i.e. on 03.06.2017 the OPs have paid an amount of Rs.90,000/- by way of cheque in favour of complainant as part payment and the said cheque was encashed by complainant. On 10.07.2017, the OPs have paid an amount of Rs.2,05,000/- by way of cheque in favour of complainant as final settlement but the said cheque was bounced, for insufficient funds. Hence the final settlement has not been concluded. As the complainant is claiming prematured amount under FDR No.794/781, according to guidelines of RBI if, the depositor who has deposited amount in the  form of FDRs & claiming prematured amount, the bank / societies / financial institutions may deduct 3% p.a. from agreed rate of interest. Hence the OPs may deduct 3% p.a. on the agreed rate of interest under FDR No.794/781 & liable to pay the amount after deducting interest of 3% p.a.

         12) Taking into consideration of the facts, evidence on record and the discussion made here before deficiency in service on the part of the O.Ps have been proved.

          13) Accordingly, following order.

ORDER

          The complaint is partly allowed.

          The O.Ps. 1 to 10 as shown in the cause title are hereby jointly and severally directed and liable to pay to the complainant as ordered below.

Sl. No.	F.D.R./ SB A/c. No.	Amount Deposited	Date of Deposits	Date of maturity/ Renewal	Maturity Amount/ claimed
1	2	3	4	5	6
1	2302/2378	67816	30.09.13	30.09.15	85448
2	2303/2379	67330	05.03.13	05.09.15	89248
3	2304/2380	50624	08.03.13	18.09.15	67104
4	794/781	50000	08.03.12	08.03.18	100000
				Total	241800

 

The matured F.D.Rs. amount mentioned in column No.6 with future interest at the rate of 9% p.a. from the date of maturity, as mentioned in column No.5 till realization of the entire amount by deducting Rs.90,000/- which was paid by OPs by way of cheque in favour of complainant as part payment on 03.06.2017.   

The pre-matured FDR No.794/781 amount mentioned in column No.3 after deducting 3% p.a. interest from agreed rate of interest from the date of mentioned at column.4 till realization of the entire amount.

Further, the O.Ps. 1 to 10 as shown in the cause title are hereby jointly and severally directed and liable to pay to the complainant Rs.3,000/-, to the complainant towards costs of the proceedings.

          The order shall be complied within 30 days from the date of the order.

 

 (Order dictated, corrected and then pronounced in the open Forum on: 31 July 2017)

 

 

 

MSR