BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

15^th DAY OF SEPTEMBER 2016

O R D E R

SMT. P.K SHANTHA, MEMBER

The complainant has filed this complaint U/s.12 of the Consumer Protection Act, 1986 against the Opposite Parties (herein after referred as OPs) with a prayer to direct the OPs to refund the deposit amount of Rs.30,000/- + 18% compound interest up to the date of payment and to pay compensation of Rs.20,000/- for the mental agony suffered due to non-payment of principal amount and also direct the OPs to pay incidental expenses of Rs.2,000/-.

2. The brief averments made in the complaint are as under:

The complainant has invested Rs.30,000/- in the Unitech Limited Company in the form of fixed deposit for a period of one year.  The details are here under.

          As per the terms of the company, the fixed deposit receipt duly discharged should be sent to the company at least 21 days before the date of maturity to enable them to make payment on due date.  In terms of the above, on maturity of the deposit, the deposit receipt duly discharged was sent to the OP Company well in advance on 19.05.2014 to effect the payment of maturity amount of fixed deposit invested.  So far, the complainant has not received the fixed deposit amount.  The OP Company has paid the interest due of Rs.3,638/-.  In this regard the complainant has sent e-mails on 11.07.2014, 15.07.2014, 01.10.2015/letter by speed post on 20.08.2014 followed by telephone call on 23.07.2014 and also on several occasions for which calls were not taken.  There is no response from the OPs.  Further, a final notice/letter has been sent to the OP Company on 01.10.2015 by speed post and also by e-mail requesting for payment of amount.  For that also there is no response from the OPs.  Hence, the complainant has filed this complaint against OPs for appropriate relief.

3.  After service of notice, OPs failed to appear before the Forum and were placed ex-parte.

4. So as to prove the case, power of attorney holder of complainant Sri.K. Narayanrao has filed his affidavit evidence in support of complaint reiterating the complaint averments and produced copies of documents.

5. The above said assertions of the complaint have remained unchallenged.  OPs neither filed version nor denied the sworn testimony of the complainant.  Under the circumstances, we have no reasons to disbelieve the sworn testimony of the complainant.

6. Let us have a cursory glance at the documents produced by the complainant.  Document No.1 is the copy of fixed deposit receipt bearing No.1224196, date of issue being 03.07.2013 for a sum of Rs.30,000/- for the period of one year, interest rate at 11.50% p.a for the period 26.06.2013 to 26.06.2014, date of maturity being 26.06.2014.  Document No.2 is the copy of notice of complainant dated 20.08.2014 addressed to OP.  Document No.3 is the copy of e-mail notice of complainant dated 01.10.2015 calling upon OP to repay the matured fixed deposit amount of Rs.30,000/- along with interest at 18% p.a. 

7. As per the material available on record complainant deposited the following fixed deposit amount with OP.

In support of his complaint averments, the complainant has produced the copy of above fixed deposit as per document No.1.  Now the grievance of the complainant is the OPs failed to release the amount inspite of several reminders through e-mail, speed post also telephonic calls on several occasions.  The complainant is a small investor and mainly depends on this amount.  He is in urgent need of funds to meet the livelihood expenses and medical expenses.  Hence this complaint.

8. On perusal of oral and documentary evidence of the complainant it is crystal clear that the complainant has deposited Rs.30,000/- in fixed deposit with OP on 26.06.2013.  OP has assured to refund the fixed deposit amounts after maturity date i.e., on 26.06.2014 along with interest at 11.50% p.a.  However the complainant has stated that the OP company has paid interest amount of Rs.3,638/- for the period from 26.06.2013 to 25.06.2014.  Copy of remittance advice received from the OP Company is enclosed.

9. The very fact of OPs not contesting the proceedings leads us to draw an inference that OPs are admitting the claim of the complainant.  There is no reason to disbelieve the unchallenged affidavit evidence of the complainant and the documents produced.  The complainant suffered inconvenience and mental agony due to non performance of the promise made by the OPs.  However, the power of attorney holder of complainant has stated in his affidavit evidence that complainant has received only the principal amount i.e., Rs.30,000/- on 30.05.2016 without any accrued interest.  Inspite of constant and regular reminders, OPs failed to refund the interest on fixed deposit amounts on time.  This act of OPs in not refunding the interest on the fixed deposit amount amounts to deficiency of service on the part of OPs.  We are satisfied that the complainant proved deficiency of service against OPs.  Under the circumstances, we are of the considered view that OPs are liable to pay interest at the rate of 18% p.a for the period from 26.06.2014 to 30.05.2016 i.e., up to the date of receipt of cheque for Rs.30,000/- together with compensation of Rs.5,000/- and litigation cost of Rs.3,000/-.  Hence, the complaint of the complainant is partly sustainable and accordingly, we proceed to pass the following:

O R D E R

The complaint filed by the complainant is allowed in part.  OPs are jointly and severally directed to pay interest @ 18% p.a on Rs.30,000/- for the period from 26.06.2014 to 30.05.2016 (up to the date of receipt of cheque for Rs.30,000/-) together with compensation of Rs.5,000/- and litigation cost of Rs.3,000/- to the complainant.

This order shall be complied within 30 days from today.

Supply free copy of this order to both the parties.

(Dictated to the Stenographer, got it transcribed and corrected, pronounced in the Forum on this 15^th day of September 2016)

MEMBER                            MEMBER                     PRESIDENT

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COMPLAINT No.1771/2015

Complainant                 -        Sri.K.N Vinay,

Bengaluru – 560040.
-vs-

Opposite Parties           -        1) Managing Director,

Unitech Limited – FD Office,

Gurgaon-122016,

Haryana.

2) Managing Director,

UNITECH LIMITED – Regd.
         Office,

Saket, New Delhi-110017.

3) Officer-in-charge,

UNITECH LIMITED – Local Office,

Bengaluru – 560001.

Witnesses examined on behalf of the complainant dated 06.09.2016.

1. Sri.K.Narayanrao

          OPs -       Absent

MEMBER                           MEMBER                      PRESIDENT

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