IN THE CONSUMER DISPUTES REDRESSAL  COMMISSION, KOLLAM

Dated this the 17^th  Day of  June   2022

  Present: -  Sri. E.M.Muhammed Ibrahim, B.A, LL.M. President

        Smt.S.Sandhya Rani, Bsc, L.L.B,Member

                   Sri.Stanly Harold, B.A.LLB, Member

                                                                               CC.266/2020

Mathew K.V                                      :                   Complainant

Kavuvila EMP Cottage

Ambipoika P.O

Kundara.

[By Adv.P.Sajeev Babu]

V/s

1. Popular Traders                        :                  Opposite parties

          Popular Towers

        Vakayar, Pathanamthitta

        Represented by its Managing Partner

         Thomas Daniel.

2. T.Mathunni Panicker

          Branch Manager

           Popular Dealers

           Kundara

          Residing at Plavila Thekkathil

          Raju Nivas, Ambipoika.

FINAL  ORDER

Smt.S.Sandhya Rani (President I/C)

          The 1^st opposite party in this complaint is a company which is registered under the Indian Companies Act 2013.  The 2^nd opposite party is the Manager of Kundara Branch of 1^st opposite party company.  As attracted by advertisement made by 1^st opposite party in newspaper dailies and other publications that they are accepting money as fixed deposit for a period of 12 months by offering interest at the rate of 12% per annum with the liberty to accrue interest in each and every month by the depositors, the complainant deposited Rs.1,00,000/- with 2^nd opposite party on 04.03.2020 as per the receipt No.0582864(A/c No.1020381900769).  As per the terms and conditions agreed by opposite parties they have paid monthly interest to the complainant up to June 2020 and thereafter they have failed to pay the same.  Thereupon the complainant made several demands to opposite parties to pay the arrears of interest and also the fixed deposit amount, but they didn’t consider his demand and now it is seen that the opposite parties closed their offices.  This is a case in which the complainant availed the services of the opposite parties for consideration but the opposite parties have failed to provide the service as they have agreed.  By withholding the interest and fixed deposit amount of  the complainant, the opposite parties have committed illegal enrichment and which caused much mental agony and lot of inconvenience including financial loss to the complainant.  The above act of the opposite parties amounts to deficiency in service and unfair trade practice.  In the circumstances the opposite parties are directed 1. to pay Rs.1,00,000/- along with interest at the rate of 12% per annum from 04.03.2020 till the date of payment to the complainant.

2.       To pay Rs.25000/- to the complainant towards compensation for mental agony discomfort and inconvenience caused to the complainant.

3.       To pay Rs.10,000/- to the complainant towards the costs of the proceedings.

          Hence the complaint.

          Though notice issued from DCDRC, Kollam was received by the opposite parties No.1&2 they have not appeared before the Commission , hence opposite party No.1&2 set exparte.  Complainant filed 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 photocopy of advertisement notice issued by San Popular Finance.  Ext.A2 receipt dated 04.03.2020 issued by Popular Traders Kundara Branch evidencing that the complainant Sri.Mathew.K.V has deposited Rs.1,00,000/- in Popular Traders A/c No.1020381900769  for a period of 12 months at the rate of 12%  interest with nominee Preetha Mathew.

          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 2^nd  opposite party.

          The complainant has sworn in the complaint as well as in proof affidavit that he had not drawn interest since June 2020.  Even though the complainant had approached the opposite parties to get back the fixed deposit amount along with arrears of interest but not paid.  Later the complainant realized that the opposite parties have closed their offices.

 That the opposite parties are illegally withholding the money of the complainant for their illegal enrichment.  By refraining from discharging their contractual obligation the opposite parties have committed deficiency in service and unfair trade practice, which resulted in mental agony apart from financial loss to the complainant.

In view of the above materials available on records it is clear that there exists deficiency in service and unfair trade practice on the part of the opposite parties as they have failed to repay the fixed deposit amount Rs.1,00,000/- along with  12% interest since June 2020.  Therefore the complainant is entitled to get the deposit amount with agreed interest from 05.06.2020 and to get a reasonable compensation of  Rs.10,000/- and costs from opposite parties 1 to 3 jointly and severally and from their assets.

In the result complaint stands allowed.

1. Directing the opposite parties No.1&2 to pay Rs.1,00,000/- along with interest @ 12% per annum from 05.06.2020 till the date of payment to the complaint.
2. Directing the opposite parties to pay Rs.10,000/- to the complainant towards  compensation for mental agony, discomfort and inconveniences caused to the complainant.
3. Directing the opposite parties to pay Rs.5,000/- to the complainant towards the costs of the proceedings.

Dictated to the Confidential Assistant  Smt. Deepa.S transcribed and typed by her corrected by me and pronounced in the  Open Commission this the  17^th  day of  June   2022.

S.Sandhya Rani:Sd/-

(President I/C)

Stanly Harold:Sd/-

Forwarded/by Order

Senior Superintendent

INDEX  

Witnesses Examined for the Complainant:-Nil

Documents marked for the  complainant

Ext.A1:       Photocopy of advertisement notice issued by San Popular Finance.

Ext.A2:       Original receipt No.0582864 of  Popular Traders for Rs.1,00,000/-.

Witnesses Examined for the opposite party:-Nil

Documents marked for   opposite party:-Nil

S.Sandhya Rani:Sd/-

(President I/C)

Stanly Harold:Sd/-

Forwarded/by Order

Senior Superintendent