IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE   12^th DAY OF AUGUST 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.296/2020

Jisha Varghese,                                                                       :           Complainant

Jinesh Bhavan,

Thalavoor, Kollam 691508.

(By Adv. P.Sajeev Babu)

V/s

1. Popular Dealers

             Regd.Office Popular Towers,

       Vakayar , Pathanamthitta

     (Incorporated under the Companies Act 2013),

       Rep.by its Managing Partner,                                       : Opposite Parties

        Thomas Daniel.

2. Y.Mathew Panicker,

               Former Branch Manager of Popular Traders

              Kundara, Residing at Maliyekkal Mathew Bhavan,

              Punnamukku, Perumpuzha P.O.,

3. T.Mathunni Panicker,

         Branch Manager,

              Popular Traders,

             Kundara residing at Plavila Thekkathil

              Raju Nivas Ambipoika

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  1^st opposite party is a registered company registered under the Indian Companies Act 2013.  The 2^nd and 3^rd opposite parties are former and present Managers respectively of  Kundara branch of 1^st opposite party.  As attracted by

the advertisements made by 1^st opposite party in newspaper dailies and other publications and also by believing the words of 2^nd and 3^rd opposite parties the complainant has deposited Rs.1,00,000/- before 2^nd  opposite party as fixed deposit for a period of 12 months at the rate of interest 12% per annum and in turn the opposite parties signed and issued a fixed deposit  Receipt no.0590386 with A/c No.1020382000162 dated 20.06.2020 in the name of complainant.   In the Fixed Deposit Receipt the opposite parties had agreed to pay interest @ 12% per annum by allowing the complainant to withdraw the accrued interest in each and every month and also agreed to repay the fixed deposit amount along with interest on the maturity date if interest is not drawn monthly. As per the terms and conditions the opposite parties have paid monthly interest to the complainant on July and August and thereafter they have failed to pay the interest. Thereafter on 20.08.2020 the complainant approached the opposite parties to return the entire amount along with interest accrued but they have not returned.  Thereafter the complainant could realized that the opposite parties have closed their offices. This is a case in which the complainant availed the service of the opposite parties for consideration but the opposite parties have failed to provide their service to the complainant as they have agreed.  The opposite parties are illegally withholding the money of the complainant for their illegal enrichment which caused much mental agony and lot of inconveniences. The above act of the opposite parties amounts to deficiency in service and unfair trade practice.   Therefore the complainant claiming the deposit amount Rs.1,00,000/- along with interest as well as compensation and cost 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 opposite parties 1 to 3 set exparte.  Complainant filed proof affidavit by reiterating the averments in the complaint and got marked Ext.A1 and A2 documents and heard the counsel for the complainant.  

Ext.A1 advertisement notice issued by San Popular Finance.  Ext.A2 is receipt No.0590386 dated 20.06.2020 issued by Popular Traders, Kundara Branch in favour of the complainant Smt.Jisha Varghese would indicates that the complainant has deposited a sum of Rs.1,00,000/- on 20.06.2020 as the contribution towards her share in Popular Traders.

The unchallenged averments in the affidavit coupled with Ext.A1 and A2 documents would establish prima facie that the complainant has deposited Rs.1,00,000/- with opposite parties and the share of profit interest agreed to be paid was 12% per annum.

The complainant has stated in the complaint and sworn in the proof affidavit that she had not drawn any interest/share of profit since 21.08.2020.  Hence the complainant is entitled to get the fixed deposit amount Rs.1,00,000/- along with share of profit/interest at the rate of 12 % per annum since 21.08.2020. The materials available on record would indicate that though the complainant had approached the opposite parties several times to get back the amount, she didn’t get the same.  Hence it is evident that the opposite parties are illegally withholding the money of the complainant for their illegal enrichment.  By refraining from discharging their contractual obligations the opposite parties have committed deficiency in service and unfair trade practice, which caused much mental agony apart from financial loss to the complainant.

In view of the above materials available on records we are of the view that there exists deficiency in service and unfair trade practice on the part of opposite parties 1 to 3 as they have failed to repay the fixed deposit amount of Rs.1,00,000/- along with share of profit/interest @ 12% per annum since 21.08.2020.  In the circumstances the complainant is entitled to get the deposit amount with agreed share of profit/interest from 21.08.2020 and to get a reasonable compensation of Rs.10,000/- and costs Rs.5,000/- from opposite parties 1 to 3 jointly and severally and from their assets.

          In the result complaint stands allowed in the following terms.

1. The opposite parties 1 to 3 are directed to pay Rs.1,00,000/- along with agreed share of profit /interest @ 12% per annum from 21.08.2020 till the date of order and thereafter interest @ 9% per annum till realization.
2. The opposite parties 1 to 3 are directed to pay Rs.10,000/- to the complainant towards the compensation for mental agony, discomfort and inconveniences caused to the complainant.
3. The opposite parties 1 to 3 are directed to pay Rs.5,000/- to the complainant towards the costs of the proceedings.
4. Opposite parties 1 to 3 are directed to comply with 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 @ 9% 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   12^th  day of  August 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            : Receipt No.0590386 dated 20.06.2020 issued by Popular Traders,

  Kundara  Branch in favour of the complainant Smt.Jisha Varghese

Witnesses Examined for the opposite party:-Nil

                    Documents marked for opposite party:-Nil