IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM
DATED THIS THE 13th DAY OF OCTOBER 2022
Present: - Sri. E.M.Muhammed Ibrahim, B.A, LLM. President
Smt.S.Sandhya Rani. Bsc, LLB ,Member
Sri.Stanly Harold, B.A.LLB, Member
CC.No.409/2020
Sumathikutty Amma,
Vilavilazhikatthu veedu,
Kanjirakode, Mulavana,
Kundara P.O., Kollam 691501. : Complainant
(By Adv. P.Sajeev Babu)
V/s
- Popular Dealers&My Popular Marine Products LLP
Regd.Office: 10/1, 13/575, Popular Tower,
Vakayar P.O., Konni, Pathanamthitta 689 698
Rep.by the Managing Partner &
Designated Partner : Opposite Parties
Thomas Daniel.
- Y.Mathew Panicker,
Former Branch Manager of Popular dealers&
My Popular Marine Products LLP
Kundara, Residing at Maliyekkal Mathew Bhavan,
Punnamukku, Perumpuzha P.O., 691504
- T.Mathunni Panicker,
Branch Manager,
Popular dealers & My Popular Marine Products LLP
Kundara residing at Plavila Thekkathil
Raju Nivas Ambipoika 691501.
ORDER
Smt.Sandhya Rani, B.Sc, LLB, Member
This is a case based on a complaint filed U/s 35 of the Consumer Protection Act 2019.
The averments in the complaint in short are as follows:-
The 1st opposite party is the Managing Partner as well as Designated Partner of financial institution in the name and style ‘Popular dealers’& My Popular Marine Products’. The 2nd and 3rd opposite parties are the former and present Managers respectively of Kundara Branch of the 1st opposite party. The 1st opposite party advertised in the newspaper dailies and other publication that the 1st opposite party is offering interest at the rate of 12% per annum to those who have made deposit with the 1st opposite party as Fixed deposit for any particular period with the liberty to withdraw the accrued interest in each and every month or annually by the depositor. The 2nd and 3rd opposite parties personally approached the complainant and made her to believe that if he deposit a sum of money as fixed deposit in the opposite parties company for a particular period then the company would pay interest @ 12% per annum with the liberty to withdraw the entire amount with interest at the time of maturity or with interest on annually or monthly. As attracted by the advertisement made by 1st opposite party and also by believing the words of 2nd and 3rd opposite parties, the complainant has deposited Rs.2,00,000/- on 23.05.2019 in favour of My Popular Marine Products LLP before 2nd opposite party as fixed deposit for a period of 36 months and in turn the 1st opposite party signed and issued a Fixed Deposit Receipt LLP No.AAJ-1621-0004082 with a/c No.1029991900482 and again on 31.08.2019 he had deposited another Rs.1,00,000/- before 2nd opposite party as fixed deposit for a period of 12 months and in turn the 1st and 2nd opposite parties issued a jointly signed Fixed Deposit Receipt with No.0154184 with A/c No.1029991903297 in his name. At the time of deposit of money the opposite parties convinced the complainant that even though the receipt that issued are mentioned as LLP, they are equal to Fixed Deposit receipts and that they would pay interest at the rate 12% per annum with the liberty to withdraw the accrued interest in each and every month or annually. The 3rd opposite party received the originals of the above said certificates on 16.06.2020 dated 20.08.2020 respectively agreeing to repay the amount within one week and in token of receipt of the originals of the certificates, the 3rd opposite party issued copies of the certificates that authenticated and signed by him. But the opposite parties have failed to return the amount along
with interest covered by the said FD as agreed by their agreement and they withhold the originals of the certificates without payment of the interest and principal deposit amount and gradually he could realize that the opposite parties had closed all their offices. The above acts of the opposite parties amounts to deficiency in service and unfair trade practice. Therefore the complainant claims refund of the deposited amount Rs.3,00,000/- along with interest as well as compensation and costs from the opposite parties. Hence the complaint.
Though notice issued from CDRC, Kollam was received by the opposite parties 1 to 3, they have not appeared before the commission hence they are set exparte. Complainant filed proof affidavit by reiterating the averments in the complaint and got marked Ext.A1 to A3 documents and heard the counsel for the complainant.
Ext.A1 advertisement notice issued by San Popular Finance. Ext.A2 is certificate of contribution to LLP dated 23.05.2019 issued by My Popular Marine Products LLP in favour of the complainant would indicate that the complainant has contributed a sum of Rs.2,00,000/- as contribution towards her share of partnership in the LLP.Ext.A3 is receipt dated 31.08.2019 issued by Popular Dealers in favour of the complainant would indicates that the complainant has deposited a sum of Rs.1,00,000/- for a period of 12 months @ 12% profit share with the opposite parties.
The complainant has stated in the complaint and sworn in the proof affidavit that the complainant has made 2 FDs (Ext.A2 and A3) with opposite parties for a term of 36 months and 12 months respectively and also offering interest @ 12% per annum and received FD receipts endorsing those terms and conditions.
But on perusal of Ext.A2 document it is evident that it is a copy of certificate of contribution to LLP made by the complainant for Rs.2,00,000/- and not a FD receipt indicating the period of FD or rate of interest. But Ext.A3 is a copy of FD receipt indicating rate of interest and period and in both documents there is endorsement that original received for withdrawal on 20.08.2020.
Ext.A1 advertisement is not relating to any contribution to LLP but it relates to gold loan and FDs.
Contribution to LLP firm means becoming the owner of the partnership firm with limited liability. One of the several partners/owners is not expected to file any complaint against the Firm or other partners under Consumer Protection Act since the owner/partner is not a consumer of the firm. In the circumstances the complainant is entitled to get only Rs.1,00,000/- with interest as per Ext.A3 Fixed Deposit Receipt.
On evaluating the entire materials available on records we are inclined to grand the relief in part.
In the result complaint stands allowed in part:-
- The opposite parties 1 to 3 are directed to pay Rs.1,00,000/- to the complainant along with interest @ 12 % per annum from 23.05.2020 till the date of order and thereafter interest @ 9% per annum till realization.
- The opposite parties 1 to 3 are directed to pay Rs. 5,000/- to the complainant towards compensation for mental agony, discomfort and inconveniences caused to the complainant.
- The opposite parties 1 to 3 are directed to pay Rs.5,000/- to the complainant towards costs of the proceedings.
- Opposite parties 1 to 3 are directed to comply the above directions within 45 days from today failing which the complainant is at liberty to recover the amount covered by relief No.(a) to (c) with interest at the rate of 12% per annum except for costs from opposite parties 1 to 3 jointly and severally and from their assets.
Dictated to the Confidential Assistant Smt. Minimol S. transcribed and typed by her corrected by me and pronounced in the Open Commission this the 13th day of October 2022.
S.SANDHYA RANI:Sd/-
E.M .MUHAMMED IBRAHIM:Sd/-
STANLY HAROLD:Sd/-
Forwarded/by Order
Senior superintendent
INDEX
Witnesses Examined for the Complainant:-Nil
Documents marked for the complainant
Ext.A1 : Advertisement notice issued by San Popular Finance
Ext.A2 : Certificate of contribution to LLP dated 23.05.2019 issued by My Popular
Marine Products LLP
Ext.A3 : Receipt dated 31.08.2019 issued by Popular Dealers
Witnesses Examined for the opposite party:-Nil
Documents marked for opposite party:-Nil
