BEFORE THE  DIST. CONSUMERS DISPUTES REDRESSAL FORUM;  DHARWAD.

DATE:  31^st December 2015       

PRESENT:

1) Shri B.H.Shreeharsha       : President

2) Smt.M.Vijayalaxmi             : Member 

Complaint No.:228/2015

Complaint No.:229/2015

Complaint No.:230/2015

Complaint No.:231/2015

Complainant/s:                       Smt. Nanda R. Neelakanthi,         Age: about 49 years, Occ: Household work, R/o.H.No.40, Shree Renuka Nilaya, Shettar Colony, Bengeri, Hubballi 580023.

In CC 228/2015 & 229/2015

Hazarath Ali M. Mulla, Age: 69 years, Occ: Retired, R/o.H.No.01, Chetana Colony, Gokul Road, Hubballi 580023.

In CC 230/2015

Basavaraj P.Aradhyamath, Age: 41 years, Occ: Retired, R/o. Chaitanya Nagar,  Gokul Road, Hubballi 580030.

In CC 231/2015

 (By Sri.M.A.Shivalli, Adv.)

v/s

Respondent/s:          1)            Jeevaraj Puranik, The Managing Director, Vrksha Business Solutions (India) Ltd., No.9, Harsha Complex, Station Road, Hubballi 580020.

2)             Roshan D’Souza,  The Director/ Manager, Vrksha Business Solutions (India) Ltd., No.9, Harsha Complex, Station Road, Hubballi 580020.

(Exparte)

O R D E R

By: Shri. B.H.Shreeharsha : President.

1.     Since the claims of the complainants are common and as the claims are sought against common respondents in CC/228/15 to CC/231/15, the cases have been clubbed together and passed common order.

2.     The complainant has filed this complaint claiming for a direction to the respondents to refund the amount as per the term deposit certificates along with interest @21% from the date of deposit till realization and to grant such other reliefs.

Brief facts of the case are as under:

3.     The case of the complainants is that, the complainants have invested their amount in the term various deposit schemes maintained by the respondents as follows:

4.     The further case of the complainants are that as per the certificates the complainants have invested the amount and are to be matured on the date shown under the certificates with accrued amount. Despite of all the payments and installments were made within stipulated date the respondents did not refund the amount with accrued interest as assured inspite of repeated approaches and demands. Lastly the respondents closed their branch office and left the place since July 2014. The demand notices sent returned unserved with postal endorsement “not known”. Hence, the complainants filed the instant complaints praying for the relief as sought

5.     The notice sent to the respondents returned unserved with the postal endorsement “unknown”. On the submission made by the complainants the respondents are in judicial custody at Mangalore Central Jail, notice was issued to the respondents through Superintendent of Prison as sought. After service of notice the Superintendent of Prison sent acknowledgement acknowledging the service of the notice to the respondents. Since the respondents remained absent when their cases are called despite of acknowledgement of the service were placed exparte and exparte proceedings initiated.

6.     On the said pleadings the following points have arisen for consideration:

1. Whether complainant has proved that there was deficiency in service on the part of respondents ?
2. Whether complainant is entitled to the relief as claimed ?
3. To what relief the complainant is entitled ?

Complainants admit sworn to evidence affidavit, relied on documents and citations.  Heard. Perused the records.

Finding on points is as under.

1. Affirmatively in CC 228 & 229/15 & Negatively in CC  230/15 & 231/15
2. Affirmatively in CC 228 & 229/15 & Negatively in CC 230/15 & 231/15
3.  As per order

Reasons

Points 1 and 2

7.     Since the facts have been revealed in detail which requires no repetition. So also as the exparte proceedings has been initiated against the respondents the contents of the complaint averments remained unimpeached.

8.     In CC 228/15 the complainant in support of investment relied on Ex.C2. Perusal of Ex.C2 the complainant has invested Rs.1 lakh under the deposit certificate to be matured after 18 months with interest @13.99 % P.A. The maturity amount in Ex.C2 shown as Rs.1,21,000/- payable on maturity date 25.01.2014. Perusal of the contents of the pleadings, evidence, Ex.C1 legal notice disclose that the respondents have not paid the amount to the complainant as assured as such complainant is entitled for the said amount with future interest and cost.

9.     In CC 229/15 Perusal of Ex.C2 disclose that the complainant had invested the amount under VBSIL share holders Micro Deposit Registration certificate bearing registration no.26463. Further perusal of Ex.C2 disclose that the total monthly units to be payable is 20 with unit amount of Rs.5,000/-. Term is 18 months. Final installment falls on 31.05.2014. In total the complainant ought to pay Rs.90,000/- and the unit will be matured on 30.06.2014 maturity amount will be Rs.1,04,400/-. The perusal of Ex.C-12 monthly subscription receipt dt.30.06.2014 disclose to that date in total the complainant has paid Rs.85,000/- subsequent receipts for the future months installments not produced. As per Ex.C2 the total amount to be paid by the complainant is Rs.90,000/- to have maturity amount Rs.1,04,400/-. But not paid all the installments. Hence, the complainant is not entitled for the maturity amount of Rs.1,04,400/- as per Ex.C2. But as per the terms and conditions of repayment the complainant is entitled for refund of   Rs.85,000/- with 5% profit.

10.   In CC 230/15 on perusal of Ex.C2 disclose that it is Xerox copy of Micro Deposit Registration certificate. Further perusal of the said Ex.C2 reveals the complainant has surrendered the original bond on 11.01.2014 is endorsed with seal and signatures  of respondent establishment. The LC for complainant contended that the complainant has surrendered the certificate but the respondents have not refund the amount. In the absence of corroborative evidence in support of the contention of the complainant counsel it cannot be believed the complainant has not received the amount. If the amount is not refunded there will not be such an endorsement as per Ex.C(a). For the mere reason respondents remained absent the submission of the complainant in the absence of supportive evidence cannot be acceptable. Hence, complainant is not entitled for any refund or relief.

11.   In CC 231/15 on perusal of Ex.C2 disclose that it is Xerox copy of Micro Deposit Registration certificate. Further perusal of the said Ex.C2 reveals the complainant has surrendered the original bond on 11.12.2013 is endorsed with seal and signatures  of respondent establishment. The LC for complainant contended that the complainant has surrendered the certificate but the respondents have not refund the amount. In the absence of corroborative evidence in support of the contention of the complainant counsel it cannot be believed the complainant has not received the amount. If the amount is not refunded there will not be such an endorsement as per Ex.C2 (a). For the mere reason respondents remained absent the submission of the complainant in the absence of supportive evidence cannot be acceptable. Hence, complainant is not entitled for any refund or relief.

12.  In view of the above discussions we have arrived and proceed to held issue.1 and 2 in affirmatively in CC 228 & 229/15 & Negatively in CC 230/15 & 231/15.

13.   Point.3: In view of the finding on points 1 and 2 proceeded to pass the following 

O R D E R

        CC 228/2015 & 229/2015 are partly allowed. While CC 230/2015 & 231/2015 are dismissed. No order as to costs.

        In CC 228/2015 the respondents 1 and 2 jointly and severally shall pay maturity amount of Rs.1,21,000/- to the complainant with future interest @9% P.A. from 25.01.2014 till realization.  

        In CC 229/2015 the respondents 1 and 2 jointly and severally shall pay the amount of Rs.85,000/- to the complainant with interest @9% P.A. from 30.01.2014 till realization along with Rs.1,000/- towards compensation and Rs.500/- towards cost of the proceedings in CC 228/2015 & 229/2015 each within 60 days from the date of receipt of copy of this order.  

        Original order be kept in CC 228/2015 and its copy in other connected cases.

(Dictated to steno, transcribed by him and edited by us and pronounced in the open Forum on this day on 31^st day of December 2015)

(Smt.M.Vijayalaxmi)                                      (Sri.B.H.Shreeharsha)

Member                                                           President

Dist.Consumer Forum                                    Dist.Consumer Forum

MSR