DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, PALAKKAD
Dated this the 26th day of June, 2023
Present : Sri.Vinay Menon V., President
: Sri.Krishnankutty N.K., Member Date of filing: 20/02/2023
CC/54/2023
R. Ramdas
‘ Pranavam’
Puthur Main Road,
Puthur, Palakkad – 678 001 - Complainant
(Party in person)
V/s
1. Future Enterprises :Ltd.,
Knowledge House,
Shyam Nagar, off jogeshwari-Vikroli Link Road,
Jageshwari (East)
Mumbai – 400 060.
2. Future Enterprises,
Futue Retails Home Office,
9th Floor Tower C
Embassy 247, LBS Marg, - Opposite parties
Vikhroli West,
Mumbai – 400 083.
(Both opposite parties Ex-parte)
O R D E R
By Sri. Krishnankutty.N.K., Member
1. Pleadings of the complainant in brief.
The complainant deposited Rs. 2,50,000/- with the opposite party company under their fixed deposit scheme on 13.11.2019 for a period of 3 years. The interest rate agreed was 10.35 % per annuam and maturity amount was Rs.3,39,683/- payable on 11.11.2022. As per the terms and conditions of the scheme, the amount should have been credited to his Savings Bank Account with Indian Overseas Bank, Palakkad on the due date. Since the opposite party failed to credit the amount as above, the complaint sent e-mail to the opposite party in various email addresses which got returned with reason “ Addressee not found”. The speed post letters sent to the address shown in the FD receipt, as well as their corporate office were also got returned with endorsement “Addressee left ”. Hence this complaint.
2. Notices were issued to the opposite party. They did not enter appearance. Their name was called in the open court and were set ex-parte.
3. The complaint filed proof affidavit and marked Ext. A1 to A4 as evidence. Ext. A1 is the digital copy of the Fixed Deposit receipt and A2 to A4 are the e-mails sent by the complainant to the opposite party.
4. Ext. A1, the fixed deposit receipt issued by the opposite party is a sufficient evidence to prove the pleadings of the complaint. The opposite party was legally bound to pay the maturity amount of Rs.3,39,683/- to the complainant on the due date and the failure to do so in spite of various correspondence made by the complainant is a definite case of deficiency in service and unfair trade practice.
5. In the result, the complaint is allowed as follows.
- The opposite party company is liable to pay Rs. 3,39,683/- being the maturity proceeds of the fixed deposit along with further interest @ 12% p.a on the maturity amount from the date of maturity (11/11/2022) till the date of payment.
- The opposite party Company is also directed to pay Rs.1,00,000/- as compensation for deficiency in service and Rs.50,000/- as cost.
The above amounts are to be paid within 45 days of receipt of this order, failing which the opposite parties are liable to give Rs.250/- as solatium per month or part thereof till the date of payment.
Pronounced in open court on this the 26th day of June, 2023.
Sd/-
Vinay Menon V
President
Sd/-
Krishnankutty N.K.
Member
APPENDIX
Exhibits marked on the side of the complainant:
Ext. A1 : Copy of Fixed Deposit Receipt dated 13.11.2019 for Rs.2,50,000/-
Ext. A2 : E-mail sent by the complainant to the opposite party at 12/11/2022.
Returned undelivered.
Ext. A3 : E-mail dated 12/11/2022 forwarded returned undelivered.
Ext. A4 : E-mail dated 28/11/2022 sent by the complainant to the opposite
party.
Document marked from the side of opposite party : Nil
Witness examined from the side of the complainant : Nil
Witness examined on the side of the opposite party : Nil
Court Witness: Nil
Cost: Rs. 5,000/-
NB: Parties are directed to take back all extra set of documents submitted in the proceedings in accordance with Regulation 20(5) of the Consumer Protection (Consumer Commission Procedure) Regulations, 2020 failing which they will be weeded out.
