IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE   22^nd DAY OF AUGUST 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.374/2020

1. Solomon N.,

        Snehalayam, Onamabalam,

       East Kallada P.O., Kollam.

2.  Sushama Solomon,

         Snehalayam, Onamabalam,

        East Kallada P.O., Kollam.

3.  Sangeetha Solomon,

           Snehalayam, Onamabalam,

          East Kallada P.O., Kollam.                                              :           Complainants

         Hospital Junction,Kundara 691501.

         (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,                                            :     Opposite Parties

        Thomas Daniel.

2. Y.Mathew Panicker,

             Former Branch Manager of

           My Popular Marine Products LLP

           Kundara, Residing at Maliyekkal Mathew Bhavan,

            Punnamukku, Perumpuzha P.O.

3. T.Mathunni Panicker,

         Branch Manager,

           My Popular Marine Products LLP

            Kundara residing at Plavila Thekkathil

             Raju Nivas Ambipoika

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 the Designated Partner of Limited liability partnership firm registered under the partnership Act.  The 2^nd opposite party is the former Manager and 3^rd opposite party is the present Manager of the Kundara branch of the 1^st opposite party. The 2^nd and 3^rd complainants are the wife and daughter of the 1^st complainant respectively.  The opposite party advertised that they are receiving deposits from the public and assured that the amount deposited in the 1^st opposite party is secured and profit share would be given in favour of the depositors based on the profit derived by the firm.  They also assured that the deposited amount with profit would be returned on demand.  They also assured that the firm is highly reputed and profitable.   As attracted by advertisement made the 1^st opposite party in medias and believing the words of 2^nd and 3^rd opposite parties the 1^st complainant deposited Rs.5,00,000/- on 03.04.2018 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 LLP No.AAJ-1621 with A/c No.1786 dated 03.04.2018.  Again on 22.10.2019 the 3^rd complainant deposited Rs.1,00,000/- before the 2^nd opposite party as fixed deposit for a period of one year and in turn the 1^st opposite party signed and issued a fixed deposit receipt LLP No.AAJ-1621 with 0007012(A/c No.1029991903396) dated 29.10.2019 again on 29.10.2019 the 3^rd complainant deposited Rs.6,00,000/- before the 2^nd opposite party as fixed deposit for a period of one year and in turn the 1^st opposite party signed and issued a fixed deposit LLP No.AAJ-1621-0007077 (A/c No.1029991903396) dated 29.10.2019.  Thereafter on the same date the 2^nd complainant deposited Rs.3,00,000/- before the 2^nd opposite party as fixed deposit for a period of one year and in turn the 1^st opposite party signed and issued a fixed deposit receipt LLP No. AAJ 1621 -0007078 (A/c No.1029991903397) dated 29.10.2019.  In the said fixed deposit receipts the opposite party agreed to pay share of profit/interest @ 12% per annum allowing the complainant to withdraw the accrued interest every year and agreed to repay the fixed deposit amount on maturity dates.  The opposite parties paid the monthly interest of the fixed deposit @ 12% per annum to the complainant  upto the month of November 2019 as per the terms and conditions agreed by the opposite parties at the time of receiving the fixed deposits.  But thereafter opposite parties failed to pay the monthly interest to the complainants.  The complainant approached the opposite parties and requested to give the pending interest as per terms and conditions.  2^nd and 3^rd opposite parties caused delaying tactics and thereby they purposefully evaded from paying by the due amount.  Because of said reason the complainants demanded principal amount along with interest covered by the fixed deposit receipt and the opposite parties purposefully not paid the amount due to the complainant.  Thereupon the complainants made several demands to the opposite parties to pay the arrears of interest and also to return the principal amount of Rs.15,00,000/- but they failed to pay and also closed their offices.  Since the opposite parties have violated the terms of contract there is deficiency in service and unfair trade practice on the part of the opposite parties. 

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 and A2 series documents.  Ext.A1 is the advertisement published by the opposite parties.  A2 series are 4 original certificates of contribution LLP Certificate issued by the opposite parties.  The first contribution is  LLP No.AAJ-1621 with A/c No.1786 dated 03.04.2018 for an amount of Rs.5,00,000/- in the name of the 1^st complainant and issued by the opposite parties.  The second contribution is LLP No.AAJ-1621-0007012 with A/c No.1029991903325 dated 22.10.2019 for an amount of  Rs.1,00,000/- in the name of the 3^rd complainant issued by the opposite parties.  The third contribution is LLP No.AAJ-1621-0007077 with A/c No.1029991903396 dated 29.10.2019 for an amount of Rs.6,00,000/- in the name of the 3^rd complainant and issued by the opposite parties.  The fourth contribution is LLP No.AAJ-1621-0007078 with A/c No.1029991903397 dated 29.10.2019 for an amount of Rs.3,00,000/- in the name of the 2^nd complainant issued by the opposite parties.

The unchallenged averments in the complaint coupled with Ext.A2 series documents would establish prima facie that the complainants had deposited Rs.15,00,000/- with the opposite parties partnership firm at Kundara.  The complainant has also averred in the complaint as well as in proof affidavit they had not drawn interest since 2019.  Though the complainants had approached the opposite parties to get back the fixed deposits amount along with arrears of interest they have not paid.  Later the complainant realized that the opposite parties have closed their business.  The opposite parties are illegally withholding the money of the complainant for their illegal enrichment.  Opposite parties by refraining from discharging their contractual obligations and thereby they committed deficiency in service and unfair trade practice, which resulted mental agony apart from financial loss to the complainant.

In view of the available materials on the record it is clear that there is deficiency in service and unfair trade practice on the part of the opposite parties as they failed to repay the amount of Rs.15,00,000/- covered by Ext.A2 series fixed deposit receipts along with  12% share of profit/interest.  Therefore the complainants are entitled to get the amount covered by the A2 series 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.A2 series fixed deposit receipts with share of profit/ interest @12% per annum from November 2019 onwards.
2. Opposite parties are further directed to pay compensation of Rs.25,000/- and costs Rs.5,000/- to the complainant.
3. Opposite parties 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 22^nd   day of  August 2022.  

                                               STANLY HAROLD:Sd/-

     E.M .MUHAMMED IBRAHIM:Sd/-        

    S.SANDHYA RANI:Sd/-

Forwarded/by Order

Senior superintendent

INDEX

Witnesses Examined for the Complainant:-Nil

Documents marked for the  complainant

Ext.A1             : Advertisement notice issued by San Popular Finance

Ext.A2 series   : Original certificates of contribution (4 Nos.)

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil