o.F:04/10/2012

D.o.O:31/10/2013

IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD

                                          CC.NO. 267/12

                  Dated this, the 31^st    day of October  2013

PRESENT:

SMT.P.RAMADEVI              : PRESIDENT

SMT.BEENA.K.G                : MEMBER

SMT.SHIBA .M.SAMUEL       : MEMBER

K.E.Moosakunhi, S/o Ibrahim,

Periyadkam, thaja Nagar, Kudlu, Kasaragod.             : Complainant

(in person)

1.       Managing Director, City Hyper Market,

Kasaragod Business Corporation,

Opp.Head Post Office,M.G.Road,Kasaragod.

2.       Sameer Mahin Nagar,

S/o Khader, West  House, Mahin Nagar,                 : Opposite parties

Vidyanagar Po,Kasaragod.

3.       Basheer Cherkala, S/o B.Abdulla,

Kolachiyadkam, Cherkala Po, Chengala.

4.       Ashraf edaneer, S/o Abdul Khader,

Bolagudde House, Edneer Po.

(Ops 1 to 4 are Exparte)

(Nos. 2 &3 are directors of Kasaragod Business Corporation)

                                                                  ORDER

SMT.SHIBA.M. SAMUEL      : MEMBER

The gist of the case of the complaint is as follows.

   The complainant had deposited an amount of Rs.1,00,000/- in  Kasaragod Business Corporation on 23/11/2007 and received 10 share certificates of City Hyper market and the complainant herein agreed for the condition that he can withdraw the deposited amount after giving request in writing before   Ist March of every year and  also under the condition that he is entitled for profit of the business.  But after depositing the amount, the complainant did not receive any amount either as profit or dividend.  Therefore he caused a  written request to return the share amount along with profit.  But  opposite parties  failed  to pay the amount.  Therefore the opposite parties are liable to refund an amount of  Rs.1,00,000/- with profit for a period from 25/11/2007 to 1/10/2012.  Hence the complaint.

2.   Notice to opposite parties are issued by registered post.  Notice to 1^st opposite party was served on him  on 12/10/2012 and remained absent and hence  opposite party No.1 set exparte.  Notice to 2^nd opposite party returned with an endorsement ‘left India’.   3^rd opposite party  set exparte since  notice returned as unclaimed. Opposite parties 2&4 also remained absent after taking steps by paper publication and hence they also set exparte.

3.   On 28/10/2013 complainant was examined as PW1.  Ext.A1 copy of the share certificate evidencing the  payment of  Rs.1,00,000/- and Ext.A2 is the  copy of acknowledgment showing the issuance of 10 share to PW1 and Ext.A3 is the letter issued by PW1 to the opposite parties produced and marked  through PW1.  Counsel for the complainant heard and documents were scrutinized and found that the opposite parties are committed negligence  and deficiency  of service from their part is convinced.

   There is no  explanation from the side of the opposite parties to rebut the evidence rendered by PW1.

  In the result the complaint is allowed and the opposite parties are directed to return an amount of 1,00,000/- which was deposited by the complainant, an amount of Rs.100,000/- being the share profit for a period from 23/1/2007 to 1/10/2012, an amount of Rs.10,000/- as compensation with a cost of Rs.3000/-.  Time for compliance is limited to 30 days from the date of  order.  Failing which opposite party shall be further liable to pay interest @12%  for Rs.10,0000/- from the date of complaint  till date of payment.

Exts:

A1-  copy of the share certificate

A2-  copy of acknowledgment

A3- letter issued by PW1

Sd/                                                           Sd/                                          Sd/

MEMBER                                                        MEMBER                                          PRESIDENT

eva                                                                           /forwarded by Order/

                                                                         SENIOR SUPERINTENDENT