IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE     29^th  DAY OF SEPTEMBER 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.372/2020

1. Solomon N.,

              Snehalayam, Onamabalam,

         East Kallada P.O., Kollam.

       (By Adv. P.Sajeev Babu)

2. Sushama Solomon,

              Snehalayam, Onamabalam,

         East Kallada P.O., Kollam.

        (By Adv. P.Sajeev Babu)

3.  Sangeetha Solomon,

         Snehalayam, Onamabalam,

          East Kallada P.O., Kollam.                                    :            Complainants

           (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 Dealers,

           Kundara, Residing at Maliyekkal Mathew Bhavan,

           Punnamukku, Perumpuzha P.O.

3. T.Mathunni Panicker,

          Branch Manager,

               Popular Dealers,

              Kundara residing at Plavila Thekkathil

         Raju Nivas Ambipioka

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 dealers, registered under the Indian Companies Act.  The 2^nd opposite party is the former manager of the 1^st opposite party and 3^rd opposite party is the present manager and its Kundara branch of the 1^st opposite party. 

The opposite parties have made colourful advertisements, in both print and visual media that the 1^st opposite party is offering interest @ 12% per annum to those who have made deposit in the 1^st opposite party as Fixed deposit for a period of 12 months and the  2^nd and 3^rd opposite parties personally approached the complainants and made them to believe that if the complainants deposit a sum of money as fixed deposit in the opposite party company for a period of 1 year or more, the company would pay interest @ 12% per annum on monthly, quarterly or yearly whatever the depositors prefer and the fixed deposit amount will also be returned to the depositor at the time of maturity. As attracted by the advertisement made by the 1^st opposite party in the newspaper dailies and other publications and also believed the words of 2^nd and 3^rd opposite parties on 07.11.2016 the 2^nd complainant deposited Rs.3,00,000/- before the 2^nd opposite party as fixed deposit for a period of 72 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a Fixed Deposit Receipt No.0107287 with A/c No.7631 dated 07.11.2016 for an amount of Rs.3,00,000/- in the name of the 2^nd complainant, again on 20.08.2019 the 2^nd complainant deposited Rs.2,00,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt no 0153910 with A/c No.1029991903030 dated 20.08.2019 for an amount of Rs.2,00,000/- in the name of the 2^nd complainant and on the same day the 2^nd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt No.0153911 with A/c No.1029991903031 dated 20.08.2019 for an amount of Rs.1,50,000/- in the name of the 2^nd complainant, again on 22.08.2019 the 1^st complainant deposited Rs.1,50,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parries signed and issued a fixed deposit receipt No.0153934 with A/c No.1029991903054 dated 22.08.2019 for an amount of Rs.1,50,000/- in the name of the 1^st complainant, again on 07.09.2019 the 3^rd complainant deposited Rs.2,60,000/- before the 3^rd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt No.0154572 with A/c No.1029991903480 dated 07.09.2019 for an amount of Rs.2,60,000/- in the name of the 3^rd complainant, again on 09.12.2019 the 1^st complainant deposited Rs.1,00,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months@ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt No.0159127 with A/c No.1029991905484 dated 09.12.2019 for an amount of Rs.1,00,000/- in the name of the 1^st complainant, again on 16.12.2019 the 1^st complainant deposited Rs.1,00,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt No.0161039 with A/c No.1029991906184 dated 21.01.2020 for an amount of Rs.1,00,000/- in the name of the 3^rd complainant, again on the same day the 3^rd complainant again deposited Rs.1,20,000/- in the name of the 3^rd complainant, again on the same day the 3^rd complainant again deposited Rs.1,00,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 2^nd opposite parties signed and issued a fixed deposit receipt No.0161041 with A/c No. 1029991906186 dated 21.01.2020 for an amount of Rs.1,00,000/- in the complainant, again on 14.05.2020 the 1^st complainant deposited Rs.2,00,000/- before the 3^rd opposite party as fixed deposit for a period of 12 months @ 12% interest and in turn the 1^st and 3^rd opposite parties signed and issued a fixed deposit receipt No.0163644 with A/c No.102999200033 dated 14.05.2020 for an amount of Rs.2,00,000/- 9n the name of the 1^st complainant.,  In the said fixed deposit receipts the opposite parties agreed to pay interest @ 12% per annum allowing the complainants to withdraw the accrued monthly interest of each and every amount covered by fixed deposit receipts along with the deposited amount, at the time of maturity as shown in each and every fixed deposit certificates.  On 10.09.2020 complainant came to know that the opposite parties are not returning back the fixed deposit amount as well as regular monthly interest to the subscribers promptly as done in the previous years, they approached the opposite parties 1 to 3 to release the amount due to them along with interest from the date of deposit of the amount till payment, prior to the maturity dates shown in the above fixed deposit certificates.  They agreed to release the amount along with interest covered by the fixed deposit certificates to the complainants on or before 15.09.2020.  But thereafter the opposite parties failed to pay the said agreed amount to the complainants.  Thereupon the complainant made several demands to the opposite parties to pay the arrears of interest and also to return the principal fixed deposit amount, since there is contractual violation, deficiency in service and also unfair trade practice on the part of the opposite parties. But the opposite parties failed to return back the amount along with interest covered by the said fixed deposit and now it is seen that the opposite parties had closed their offices.  This is a case in which the complainant availed the service of the opposite parties for consideration but the opposite parties willfully, illegally and arbitrarily failed to provide the service to the complainant as they agreed.  But the opposite parties failed in their service as they had guaranteed, so the above said act and conduct of the opposite parties are a clear case of deficiency in service towards the complainants and also a clear case of contractual violation and also unfair trade practice and the opposite parties are illegally withholding the money of the complainants for their illegal enrichment.    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 series documents.  Ext.A1 is the photocopy of advertisement published by the opposite parties.  A2 (a) is the original Fixed deposit receipt No.0107287 for an amount of Rs.3,00,000/- for 72 months with A/c No. 7631 dated 07.11.2016, Ext.A2(b) is the photocopy of fixed receipt No.0153910 for an amount of  Rs.2,00,000/- for 12 months with A/c No.10299919030330/12 dated 20.08.2019, Ext.A2(c) is the photocopy of  fixed deposit receipt No. 0153911 for an amount of Rs.1,50,000/- for 12 months with A/c No. 1029991903031/12 dated 20.08.2019, Ext.A2(d) is the photocopy of fixed deposit receipt No.0153934 for an amount of Rs.1,50,000/-for 12 months with A/c No.1029991903054 dated 22.08.2019, Ext.A2 (e) is the original fixed deposit receipt No. 0154572 for an amount of Rs.2,60,000/- for 12 months with A/c No.1029991903480 dated 07.09.2019, Ext.A2 (f) is the original fixed receipt No. 0159127 for an amount of Rs.1,00,000/- for 12 months with A/c No.1029991905484 dated 09.12.2019, Ext.A2(g) is the original fixed receipt No.0159202 for an amount of Rs.1,00,000/- for 12 months with A/c No.1029991905558 dated 16.12.2019, Ext.A2(h) is the original fixed receipt No.0161039 for an amount of Rs.1,00,000/- for 12 months with A/c No.1029991906184 dated 21.01.2020, Ext.A2(i) is the original fixed receipt No.0161040 for an amount of Rs.1,20,000/- for 12 months with A/c No.1029991906185 dated 21.01.2020, Ext.A2(j) is the original fixed receipt No.0161041 for an amount of Rs.1,00,000/- for 12 months with A/c No.1029991906186 dated 21.01.2020 and Ext.A2(k) is the original fixed receipt No.0163644 for an amount of Rs.2,00,000/- for 12 months with A/c No.1029992000033 dated 14.05.2020.

Though the complainant had given the original fixed deposit receipt of the Ext.A2 series (b), (c) and (d) bearing No.0153910, 0153911, 0153934 for an amount of Rs.2,00,000/-, Rs.1,50,000/- and 1,50,000/- respectively and was received  by 3^rd opposite party after making his signature in the photocopy of the receipts for payment and agreed to disburse the amount covered by the said 3 fixed deposit receipts on or before 15.09.2020 they failed to do so.

The unchallenged averments in the complaint coupled with Ext.A2 series (A2 to A2(k)) documents would establish prima facie that the 1^st and 2^nd complainants have deposited Rs.17,80,000/- with the opposite parties partnership firm at Kundara.  Though the complainant had approached the opposite parties demanding repayment of the amount and interest the opposite parties have not paid the same.  It is also clear from the available materials that the opposite parties have closed their firms and left the place without repayment of the fixed deposit amount or interest and thereby they committed deficiency in service and unfair trade practice.

The averments in the complaint and proof affidavit that the complainants have suffered much mental agony and inconvenience apart from financial loss.  Since the opposite parties have been 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 that 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.17,80,000/- covered by Ext.A2 series fixed deposit receipts along with  12% share of profit/interest.  Therefore the complainants No.1 and 2 are entitled to get the amount covered by Ext.A2 series fixed deposit receipts 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 series fixed deposit receipts with agreed share of profit/ interest @12% per annum from the date of deposit  till realization to the complainants No.1 & 2.
2. The opposite parties are also directed to pay compensation of Rs.50,000/- and costs Rs.5,000/- to the complainants.
3. Opposite parties are directed to comply with above directions within 45 days from today failing which the complainants are 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 29^th day of  September  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            : The photocopy of advertisement

Ext.A2 series

Ext.A2(a)        : The original Fixed deposit receipt No.0107287 for an amount of Rs.3,00,000/-

Ext.A2(b)        : The photocopy of fixed receipt No.0153910 for an amount of  Rs.2,00,000/-

Ext.A2(c)        : The photocopy of  fixed deposit receipt No. 0153911 for an amount of Rs.1,50,000/-

Ext.A2(d)        : The photocopy of fixed deposit receipt No.0153934 for an amount of Rs.1,50,000/-

Ext.A2(e)        : The original fixed deposit receipt No. 0154572 for an amount of Rs.2,60,000/-

Ext.A2(f)        : The original fixed receipt No. 0159127 for an amount of Rs.1,00,000/-

Ext.A2(g)        : The original fixed receipt No.0159202 for an amount of Rs.1,00,000/-

Ext.A2(h)        : The original fixed receipt No.0161039 for an amount of Rs.1,00,000/-

Ext.A2(i)         : The original fixed receipt No.0161040 for an amount of Rs.1,20,000/-

Ext.A2(j)         : The original fixed receipt No.0161041 for an amount of Rs.1,00,000/-

Ext.A2(k)        :  The original fixed receipt No.0163644 for an amount of Rs.2,00,000/-

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil