IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE   26^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.417/2020

Sindhu Prasad,

Sarangi, Kumbalam P.O.,

Mulavana.                                                                              

(By Adv. P.Sajeev Babu)                                            :           Complainant

V/s

1. Popular Traders,

              Regd.Office Popular Towers,

        Vakayar P.O, Konni,

        Pathanamthitta 689 698

        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., 691504

3. T.Mathunni Panicker,

         Branch Manager,

              Popular Traders,

             Kundara residing at Plavila Thekkathil

              Raju Nivas Ambipoika 691501

ORDER

Sri.Stanly Harold, B.A.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 the Managing Partner of Popular traders, registered under the Indian Companies Act.  The 2^nd opposite party is the former manager and 3^rd opposite party is the present manager and its Kundara branch of the 1^st opposite party. 

The complainant attracted  by the colourful advertisements, in both print and visual media that the 1^st opposite party is offering interest @ 12% per annum for the Fixed deposit with them and  also by believing the representation of the opposite party the complainant deposited Rs.30,000/- on 14.05.2015.  The opposite parties had issued a receipt bearing No.04441248 dated 14.05.2015 for Rs.30,000/- by which the opposite parties provided with facility of withdrawing the offered interest monthly.  As the complainant has made fixed deposit before the opposite parties he became the consumers of the opposite parties.  Thereafter the complainant made several demands for the arrears of interest and for return of the amount deposited.  The opposite parties failed to do so and now their offices are closed.  The opposite parties are illegally withholding the money of the complainant for illegal enrichment.  There is clear deficiency in service and unfair trade practice on the part of the opposite parties.  According to the complainant the above act of the opposite parties caused severe mental pain and hardships to him and he is entitled to compensation besides the refund of principal amount and the agreed interest.  Hence the complaint.

Though notice was served to the opposite parties No.1 to 3 they remained absent.  Hence they were set exparte.  Complainant filed proof affidavit by reiterating the averments in the complaint and got marked Exts.A1 and A2 documents.  Ext.A1 is the copy of advertisement published by the opposite parties.  A2 is the original Fixed deposit receipt No.0441248  with A/c No. 004200000004208 dated 14.05.2015 for an amount of  Rs.30,000/- in the name of the complainant issued by the opposite parties. 

The unchallenged averments in the complaint coupled with Ext.A2 document would establish prima facie that the complainant had deposited Rs.30,000/- with the opposite parties partnership firm at Kundara.  Though the complainant had approached the opposite parties to get back the fixed deposit amount along with arrears of interest they have not paid.  Later the complainant realized that the opposite parties had closed their business.  The opposite parties are illegally withholding the money of the complainant for their illegal enrichment. 

In the view of the materials available on record we are of the view there is deficiency in service and unfair trade practice on the part of the opposite parties as they have failed to repay the amount of Rs.30,000/- covered by Ext.A2 fixed deposit receipt along with  12% share of profit/interest.  Therefore the complainant is entitled to get the amount covered by the Ext.A2 fixed deposit receipt along with agreed share of profit/interest and reasonable compensation and costs from the opposite parties 1 to 3 jointly and severally.

            In the result complaint stands allowed in the following terms.

1. Opposite parties  1 to 3 are directed to pay the principal amount covered by Ext.A2 fixed deposit receipt with share of profit/ interest @12% per annum from the date of deposit till realization.
2. Opposite parties are also directed to pay compensation of Rs.3,000/- and costs Rs.2,000/- to the complainant.
3. Opposite parties are directed to comply with above directions within 45 days from today failing which the complainant is at liberty to recover the same from the opposite parties No.1 to 3 jointly and severally and also 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  26^th   day of  August  2022.  

STANLY HAROLD:Sd/-

                               E.M .MUHAMMED IBRAHIM:Sd/-

S.SANDHYA RANI: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             : Original F.D.Receipt No.0441248 with A/c No. 004200000004208 dated 14.05.2015

   for an amount of  Rs.30,000/-

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil