Karnataka

Belgaum

CC/513/2014

Hanamant P Magadum - Complainant(s)

Versus

Managing Director Of Guru Teak Investment Mysore Pvt Ltd - Opp.Party(s)

S K Patil

05 Oct 2015

ORDER

(Order dictated by Shri. V.S. Gotakhindi, Member)

ORDER

          The complainant has filed the complaint u/s. 12 of the C.P. Act against the O.Ps. alleging deficiency in service of non payment of the amount as agreed in respect of investment in Teak Bonds.

          2) In the complaint amongst other facts it is alleged that the complainant has invested a sum of Rs.40,000/- on 28/7/2007 with O.P. for 3 years under scheme C-2  and to be matured after three years with 15% P.A. interest. and it was promised by the O.Ps. to pay interim return. The O.Ps. have issued acknowledgement to the complainant for the amount payable on 12/7/2012 in respect of one acknowledgement for Rs.73,000/- under acknowledgement duly sealed and signed by the receiving authority of O.Ps.

          3) Despite service of notice, O.Ps. have remained ex-parte.

          4) In support of the claim made in the complaint, the complainant has filed her affidavit and produced certain documents. We have heard the arguments and perused the records.

          5) Now the point for our consideration is that whether the complainant has proved deficiency in service on the part of the O.Ps. and entitled to the reliefs sought?

          6) Our finding on the point is partly in affirmative for the following reasons.

REASONS

          7) Without repeating the facts mentioned at the beginning it has been proved by the complainant has invested a sum of Rs.40,000/- on 28/7/2007 with O.P. for 3 years under scheme C-2  and to be matured after three years with 15% P.A. interest and it was promised by the O.Ps. to pay interim return. The O.Ps. have issued acknowledgement to the complainant for the amount payable on 12/7/2012 in respect of one acknowledgement for Rs.73,000/- under acknowledgement duly sealed and signed by the receiving authority of O.Ps. Said claim of the complainant has not been denied or disputed by the O.Ps., as O.Ps. remained exparte. The complainant prior to issuing notice to O.Ps. filed application for amendment to add O.P.No.3. and as per order on 18/8/2014 the complainant amend the complaint by adding the party. The complainant also took paper publication against the O.Ps., but the O.Ps. did not appeared and were placed exparte. The complainant produced receipt which is sealed and signed by the Manager for O.P. and the receipt is written by hand on white seat styled as General Receipt for receipt of Rs.40,000/- from the complainant. The another document styled as acknowledgement which is also duly sealed shows total payable as on 12/7/2012 for Rs.73,000/-. Hence, considering the facts alleged in the complaint as well as stated by the complainant in the affidavit which corroborated by the documents, has been proved. Hence, prima-facie the complainant is entitled for the said amount.  Inspite of demands made, the O.Ps. failed to pay the amount due. Hence, the deficiency in service is proved.

8) Considering the facts and material on record, at this stage, the complainant has proved deficiency in service on the part of the O.Ps. Accordingly following order;

ORDER

          The complaint is partly allowed.

          The O.Ps. represented by the Managing Director  and Director and O.P.No.3 as shown in the cause title jointly and severally are hereby directed to pay a sum of Rs.73,000/- as mentioned in the acknowledgement to the complainant with future interest at the rate of 8% P.A. from 29/10/2012 till realization of entire amount.

          Further the O.Ps. shall pay a sum of Rs.3,000/- to the complainant towards costs of the proceedings.

          Above order shall be complied within 30 days from the date of the order.

If the order is not complied within stipulated period, OP represented by the Managing Director  and Director jointly and severally are hereby directed to pay a sum of Rs.50/- per day to the complainant from the date of disobedience of order, till the order is complied.

(Order dictated, corrected and then pronounced in the open Forum on: 5^th day of October 2015)

                  Member              Member                    President.

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