IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE     16^th   DAY OF SEPTEMBER 2022

Present: -        Sri. E.M.Muhammed Ibrahim, B.A, LLM. President

Smt.S.Sandhya   Rani. Bsc, LLB ,Member

Sri.Stanly Harold, B.A.LLB, Member

    CC.No.385/2020

Princy A.M.,

Puthen Veedu,

Karuvellil P.O.,

Ezhukone, Kottarakkara, Kollam 691505.                          :           Complainant

(By Adv.P.Sajeev Babu))

V/s

1.      My Popular Marine Products LLP

                    Regd.Office: 13/575, Popular Tower,

                  Vakayar P.O., Konni, Pathanamthitta

                  689 698.

                  Rep.by its Designated Partner

                  Thomas Daniel

2.     Y.Mathew Panicker,

                  Former Branch Manager of

                  Mypopular Marine ProductsLLP

                 Kundara, Residing at Maliyekkal Mathew Bhavan,

                  Punnamukku, Perumpuzha P.O. 691504.

3.      T.Mathunni Panicker,

             Branch Manager,

                  Mypopular Marine ProductsLLP

                  Kundara residing at Plavila Thekkathil

            Raju Nivas Ambipoika 691501.                                             :          Opposite parties

ORDER

Sri.Stanly Harold, B.A.LLB, Member

          This is a case based on a complaint filed U/s 35 of the Consumer Protection Act 2019.

          The averments in the complaint in short are as follows:-

The 1^st opposite party is a Limited liability partnership firm and having various branches and one among them at Kundara, Kollam.  The 2^nd opposite party is the former Manager and 3^rd opposite party is the present Manager of Kundara branch. The 1^st opposite party advertised in newspaper offering interest @ 12% per annum for fixed deposits.  The 2^nd and 3^rd opposite parties approached the complainant and made the same offer and assured that the complainant can withdraw the accrued interest annually.  Attracted by the advertisement and believing the words of the 2^nd and 3^rd opposite parties, the  complainant deposited Rs.10,00,000/- on 30.11.2017  before the 2^nd opposite party as Fixed Deposit for a period of 5 years and in turn the 1^st opposite party signed and issued a fixed deposit receipt bearing LLP No.  AAJ-1621 with A/c No.1407 in the name of the complainant.  Again on 27.12.2018 complainant deposited 6,00,000/- before the 2^nd opposite party as Fixed Deposit for a period of 5 years and in turn the 1^st opposite party signed and issued a fixed deposit receipt bearing LLP No.AAJ-1621-003173 with A/c No.1029991801179 dated 27.12.2018 in the name of the complainant.  The opposite parties assured that the complainant would get 12% interest per annum which can be withdrawn annually and that the fixed deposits amount will be repaid on maturity.  As the complainant had made fixed deposits before the opposite parties he became the consumer of the opposite parties.  The opposite parties paid interest upto month of May 2020 and thereafter, the complainant made several requests for arrears of interest and for return of the amount deposited.  Opposite parties failed to do so and now their offices are flund closed.  There is contractual violation on the part of the opposite parties which amounts to deficiency in service and unfair trade practice.  The opposite parties are illegally withholding the money of the complainant for their illegal enrichment.  Due to the above act of the opposite parties the complainant suffered much mental agony, discomfort and inconvenience apart from financial loss.  The opposite parties are liable to compensate the complainant.  Hence the complaint.

Though notice was served to the opposite parties No.1 to 3 they remained absent, hence they were set exparte.  Complainant filed proof affidavit by reiterating the averments in the complaint and got marked Exts.A1 to A4 documents.  Ext.A1 is the attested copy of the power of attorney executed in favour of M.K.Alexander to conduct the present case before the CDRC, Kollam.  Ext.A2 is the copy of advertisement published by the 1^st opposite party.  Ext.A3 is certificate of contribution dated 30.11.2017 for Rs.10,00,000/- LLP No.AAJ-1621 and A/c No.1407.  Ext.A4 is certificate of contribution LLP No.AAJ-1521 and A/c No.1029991801179 dated 27.12.2018 for Rs.6,00,000/-

  The unchallenged averments in the complaint and proof affidavit coupled with Ext.A3 and A4  documents would establish prima facie that the complainant had deposited Rs.16,00,000/-before the opposite parties partnership firm at Kundara .  Materials available on record would further proves that since May 2020 the opposite parties had not paid assured interest on the above 2 Fixed Deposits.  Moreover the deposit amounts were also not returned by the opposite parties in spite of specific demands made by the complainant.   By receiving fixed deposits after advertising in the newspaper, the opposite parties have failed to provide the offered service to the complainant.  Opposite parties assurance of service is made in writing in the Ext.A3 and A4 fixed deposit receipts.  It is pertinent to note that the failure to pay the assured interest and failure to repay the deposited amount on maturity is nothing but deficiency in service and unfair trade practice.  In the circumstances the case of the complainant that he had suffered very much mental agony and inconvenience apart from financial loss is believable. The opposite parties are illegally withholding the principal amount and accrued interest due to the complainant for their illegal enrichment.  In view of the materials available on record we are of the view that there is deficiency in service and unfair trade practice on the part of the opposite parties as they have failed to repay the amount of Rs.16,00,000/- covered by Ext.A3 and A4 fixed deposit receipts along with 12% share of profit/ interest .  Therefore the complainant is entitled to get the amount covered by the Ext.A3 and A4 fixed deposit receipts along with agreed share of profit/interest and reasonable compensation and costs from the opposite parties 1 to 3  jointly and severally.

          In the result complaint stands allowed in the following terms.

1. Opposite parties 1 to 3 are directed to pay the principal amount covered by Ext.A3 and A4 fixed deposit receipts with share of profit/ interest @12% per annum from  June 2020 onwards till realization.
2. Opposite parties 1 to 3 are also directed to pay Rs.25,000/- compensation and Rs.5,000/- as costs of the proceedings to the complainant.
3. Opposite parties 1 to 3 are directed to comply with above directions within 45 days from today failing which the complainant is at liberty to recover the same from the opposite parties No.1 to 3 jointly and severally and also from their assets.

Dictated to the Confidential Assistant  Smt. Minimol S. transcribed and typed by her corrected by me and pronounced in the  Open Commission this the     16^th  day of  September  2022. 

                                                                                                                                                                  STANLY HAROLD:Sd/-

                                                                                           E.M .MUHAMMED IBRAHIM:Sd/-

                             Forwarded/by Order

                                                                                                Senior superintendent

INDEX

Witnesses Examined for the Complainant:-Nil

Documents marked for the  complainant

Ext.A1            : Attested copy of the power of attorney

Ext.A2            : The copy of advertisement published by the 1^st opposite party

Ext.A3            : Certificate of contribution dated 30.11.2017 for Rs.10,00,000/-

Ext.A4             : Certificate of contribution dated 27.12.2018 for Rs.6,00,000/-

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil