By Smt. Padmini Sudheesh, President The complaint is for realization of amount, which are paid as the Fixed Deposits to the proprietor firm conducted by the respondent. The respondent was conducting Monthly Deposit and taking fixed deposits from public for which they are giving 14% interest for the deposits. The petitioner had deposited a total amount of Rs.34,500/- by way of three deposit receipts, Receipt No.5 dated on 5/2/2001 an amount of Rs.9,000/-Receipt No.7 dated on 19/1/2002 an amount of Rs.5,500 and Receipt No.52 dated on 15/5/2004 an amount of Rs.20,000/- and interest at the rate of 14% per annum for the principal amount. Now the respondent closed the firm on 19/11/2006 and proprietor is seen absconding. The firm is not functioning now. The petitioner is entitled for an amount of Rs,34,500/- as principal amount and an amount of Rs.3220/- as interest from the date of closure of the respondent firm together with a future interest at the rate of 14% per annum from the date of filing of this petition till realization of the entire amount The deposited amount is not returned. Hence this complaint. 2. Respondent remained absent and set exparte. 3.To prove the case complainant has filed affidavit and three documents which are marked as Exhibits P1 to P3. 4. According to the complainant he is entitled for Rs.34,500/- and intererst @ 14% till realization. He also claims costs and compensation. 5. There is no counter evidence . 6. Exhibit P1 is the Fixed Deposit shows the deposit of Rs.9000/-. In which there are endorsements of receipt of interest from 3/4/01 to 5/9/06. Hence the complainant is not entitled for interest for those days. In Exhibit P2 and P3 also there are endorsements. So the complainant is not entitled for the received interest. 7. In the result the complaint is allowed and the respondent is directed to return Rs.34,500/- (Rupees Thirty four thousand and five hundred only) with interest at the rate of 14% till realization excluding the interest received by the complainant. Complainant is entitled for Rs.1000/-(Rupees One thousand only) towards costs. Comply the order within two months. Dictated to the Confdl. Asst., transcribed by her, corrected by me and pronounced in the open Forum this the 30th day of August 2009.
