DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, KOZHIKODE
PRESENT: Sri. P.C. PAULACHEN, M.Com, LLB : PRESIDENT
Smt. PRIYA.S, BAL, LLB, MBA (HRM) : MEMBER
Sri.V. BALAKRISHNAN, M Tech, MBA, LL.B, FIE: MEMBER
Wednesday the 25th day of September 2024
CC.230/2024
Complainant
Prasanth. K,
S/o. Unnikutty,
Kolangarakandy, Thrikkalayur,
Valillapuzha. P.O,
Malappuram – 673639
(By Adv. Sri. Pavithran. K)
Opposite Parties
- Lalu. C. K, Director,
Sree Mookambika Nidhi Ltd,
DC Complex, 2nd Floor,
Room No. 65/369E,
East Nadakkavu, Kozhikode – 673006
Residing at Devadhadham (HO),
Chettiyankandi, Puthiyangadi. P.O,
Kozhikode - 673005
- Prabhakaran Nambiyath, Chairman,
Sree Mookambika Nidhi Ltd,
DC Complex, 2nd Floor,
Room No. 65/369E,
East Nadakkavu, Kozhikode – 673006
Residing at Sri. Vyshnavi,
Feroke, Kozhikode - 673631
- Sajith Kumar. T,
Vice Chairman,
Sree Mookambika Nidhi Ltd,
DC Complex, 2nd Floor,
Room No. 65/369E,
East Nadakkavu, Kozhikode – 673006
Residing at Amrutham (HO),
Koya Road, Puthiyangadi. P.O,
Kozhikode – 673005
- M/s. Sree Mookambika Nidhi Ltd,
DC Complex, 2nd Floor,
Room No. 65/369E,
East Nadakkavu, Kozhikode – 673006
ORDER
By Sri. P.C. PAULACHEN – PRESIDENT
This is a complaint filed under Section 35 of the Consumer Protection Act, 2019.
- The case of the complainant, in brief, is as follows:
The complainant had 2 fixed deposits of Rs. 1,00,000/- each with the fourth opposite party. The deposits were made on 11/05/2022. The deposits matured on 11/05/2023. The rate of interest was 9% per annum. But on maturity, the opposite parties failed to pay the amount. Hence the complaint to direct the opposite parties to release the amount covered by the fixed deposits along with interest and also to pay compensation of Rs. 2,00,000/-.
- The opposite parties were set exparte.
- The points that arise for determination in this complaint are; 1) Whether there was any unfair trade and business practice or deficiency of service on the part of the opposite parties, as alleged?
2) Reliefs and costs.
- PW1 was examined and Exts A1 to A5 were marked.
- Heard.
- Point No 1: The fourth opposite party is M/s. Sree. Mookambika Nidhi Ltd. and the first, second and third opposite parties are its Director, Chairman and Vice Chairman respectively. The complainant had two fixed deposits of Rs. 1,00,000/- each with the fourth opposite party. The duration of the fixed deposits was 12 months and the maturity date was 11/05/2023. The rate of interest was 9% per annum. The grievance of the complainant is that on maturity of the fixed deposits, the opposite parties failed to pay him the amount.
- PW1, who is none other than the complainant, has filed proof affidavit in terms of the averments in the complaint and in support of the claim. Ext A1 is the copy of the brochure, Exts A2 and A3 are the original fixed deposit receipts and Exts A4 and A5 are the copies of statements.
- The evidence of PW1 stands unchallenged. The opposite parties have not turned up to file version and to contest the case. The opposite parties have not adduced any evidence to disprove the averments in the complaint or to rebut the veracity of the documents produced and marked on the side of the complainant. There is no contra evidence to disprove the claim. The case of the complainant stands proved through the testimony of PW1 and Exts A1 to A5.
- The act of the opposite parties in not releasing the amount covered by the fixed deposits on maturity amounts to unfair trade and business practice and deficiency of service. The complainant is entitled to get release of the amount with interest accrued thereon. Undoubtedly, the act of the opposite parties has resulted in gross mental agony and inconvenience to the complainant, for which, he is entitled to be compensated adequately. Considering the entire facts and circumstances, we are of the view that a sum of Rs. 20,000/- will be reasonable compensation in this case. The complainant is also entitled to get Rs. 3,000/- as cost of the proceedings. The opposite parties are jointly and severally liable.
- Point No. 2:- In the light of the finding on the above point, the complaint is disposed of as follows;
a) CC.230/2024 is allowed.
b) The opposite parties are hereby directed to release Rs. 2,00,000/- (Rupees two lakh only) covered by Exts. A2 and A3 certificate of fixed deposit to the complainant with interest @ 9% per annum from 11/05/2022 till actual payment.
c) The opposite parties are directed to pay a sum of Rs. 20,000/- (Rupees twenty thousand only) as compensation to the complainant for the mental agony and hardship suffered.
d) The opposite parties are directed to pay a sum of Rs. 3,000/- (Rupees three thousand only) as cost of the proceedings to the complainant.
e) The liability of the opposite parties to pay the amount shall be joint and several.
f) The order shall be complied with within 30 days of the receipt of the copy of this order.
Pronounced in open Commission on this, the 25th day of September, 2024.
Date of Filing: 22/04/2024
Sd/- Sd/- Sd/-
PRESIDENT MEMBER MEMBER
APPENDIX
Exhibits for the Complainant :
Ext.A1 – Copy of the brochure.
Ext.A2 – Original fixed deposit receipt.
Ext.A3 – Original fixed deposit receipt.
Ext A4 - Copy of statement.
Ext A5 - Copy of statement.
Exhibits for the Opposite Party
Nil.
Witnesses for the Complainant
PW1 - Prasanth. K (Complainant)
Sd/- Sd/- Sd/-
PRESIDENT MEMBER MEMBER
True Copy,
Sd/-
Assistant Registrar.
