KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION

VAZHUTHACAUD, THIRUVANANTHAPURAM

F.A NO.446/09

JUDGMENT DATED: 08.01.2010

PRESENT:-

JUSTICE SHRI.K.R.UDAYABHANU                     :            PRESIDENT

1.         The General Manager                        

          Kerala State Financial Enterprises Ltd.,   :          APPELLANTS

          Registered Office, “Bhadratha”,

          Thrissur.

2.       The Branch Manager,

          Kerala State Financial Enterprises Ltd.,

          Kayamkulam.

(By Adv.P.K.Venugopal)

                      Vs

K.Sivaraman,                                                :          RESPONDENT

Arakkekunnel Suji Nivas,

Kappilmekku – 695 033.

Krishnapuram.P.O.,

Alappuzha.  

JUDGMENT

JUSTICE SHRI.K.R.UDAYABHANU            :PRESIDENT

                    The appellants are the opposite parties in C.C.No.191/2008 in the file of CDRF, Alappuzha.  The appellants are under orders to pay a sum of Rs.25,000/- as compensation and Rs.200/- as cost to the complainant.

          2.          It is the case of the complainant that he was a subscriber for the chitty run by the opposite parties with the sala of Rs.1,00,000/- and monthly installments for Rs.2,500/- and number of instalments as 40.  He prized the chitty at the time of 22 instalment. As he had no security to offer an amount of Rs.45,000/- out of the chitty amount was kept a security.  The interest of the deposited amount was being credited to his Sugama account.  He was regular in remitting the chitty instalments excluding interest from the sugama account. On the remittance of 32^nd instalment, he was in urgent need of money.  Hence on his application the opposite parties released a sum of Rs.25,000/- after retaining an amount of Rs.20,000/-.  He remitted the 33^rd instalment on 07.08.2007 but at the time he was told that he need not remit the further instalments and that the account has been closed.  He was also told that the 33^rd instaments of Rs.2,500/- would be credited towards his another chitty.  According to him the above action of the opposite parties amounted to deficiency in service as it was done without his knowledge and consent.

          3.          It is the contention of the opposite party/appellant at the adjustment as the above was done on the basis of the request of the complainant and that there is no deficiency on their part.

4.          The evidence adduced consisted of the testimony of PW1, RW1, Exts. A1 to A6 and Exts.B1 to B3.

5.          The appellant has relied on Ext.B1 letter dated 04.07.2007 on the basis of which the appellants allegedly closed the transaction after adjusting the balance amount in the future instalments of the chitty.  As per Ext.B1 the complainant has requested that the balance amount excluding the amount due towards 8 instalments of the chitty out of Rs.45,000/- deposited may be released to him.  It is pointed out by the counsel for the appellant that there is no request on the part of the complainant to keep the balance amount in the fixed deposit.  It was also pointed out that being the terminal instalments of the chitty there would be no dividend.  Hence it is pointed out that the complainant has not sustained any loss.  It is the contention of the complainant that he could not get dividend and also that he lost      interest on the sum of Rs.20,000/- and also that he could have withdrawn the amount in lump after due date.  He has also stated that the rate of interest is 7.5% for F.D.  We find that for 9 months the interest could be only around Rs.1000/- . We find that the contention that he could get dividend does not appear to be correct as the instalments are terminal ones.  We find the opposite parties/appellants have not committed any illegality as such. At best it can be said that they should have sought clarifications on Ext.B1 letter.  We find that there is no monetary loss as such. to the complainant.  In the circumstances the order of the Forum is set aside.  The appeal is allowed.

JUSTICE SHRI.K.R.UDAYABHANU   :  PRESIDENT

Kb.