IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

DATED THIS THE   14^th  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.295/2021

Thankappan Pillai V.,

Sreepadam, Mammoodu,

Chandanathope P.O.,

Kollam 691014.                                                 :               Complainant

(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. 689698.

2. Y.Mathew Panicker,

               Former Branch ManagerPopular Dealers,

              Kundara, Residing at Maliyekkal Mathew Bhavan,

             Punnamukku, Perumpuzha P.O.,691504.

3. T.Mathunni Panicker,

         Branch Manager,

               Popular Dealers, 

              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  1^st opposite party is the Managing Partner as well as Designated Partner of financial institution in the name and style ‘Popular dealers’.  The 2^nd and 3^rd opposite parties are the former and present Managers respectively ofKundara Branch of the 1^st opposite party.  The 1^st opposite party advertised in the newspaper dailies and other publication that the 1^st opposite party is offering interest at the rate of 12% per annum to those who have made deposit with the 1^st 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 2^nd and 3^rd opposite parties personally approached the complainant and made him 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 1^st opposite party and also by believing the words of 2^nd and 3^rd opposite parties, the complainant has deposited Rs.8,00,000/- before 2^nd opposite party as fixed deposit for a period of 12 months on 07.06.2019 and in turn the 1^st and 2^nd opposite parties issued a jointly signed Fixed Deposit Receipt bearing No.0152561 with a/c No.1029991902229 dated 18.07.2019 for an amount of Rs.8,00,000/- in his favour.  On 16.07.2020 complainant approached the opposite parties for the renewal of the receipt and the same was submitted to the 3^rd opposite party for the renewal of the principal amount along with interest.  In token to the receipt of the original certificate, the opposite parties issued him an authenticated copy of the same.  But on 17.08.2020 he 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.  So on 20.08.2020 he approached the opposite parties 1 to 3 to release the amount due to him along with 12% annual interest.  The 3^rd opposite party Mathunni Panicker has received his application for closure and all the opposite parties assured him that the entire amount would be released within one week from the date of receipt of the closure application.  The same was endorsed on overleaf of the photocopy of the receipt.  But the

opposite parties have failed to pay the agreed amount to him.  Thereupon he had made several demands to the opposite parties to pay the amount covered by the fixed deposit receipt along with arrears of interest but they have not returned the same.  Thereafter the complainant could realize 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 wilfully illegally and arbitrarily failed to provide their service to the complainant as they have agreed.  According to the complainant the opposite parties are illegally withholding his money 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.8,00,000/- 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 opposite parties 1 to 3 are 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 copy of receipt No.0152561 dated 18.07.2019 issued by Popular Dealers, Kundara Branch in favour of the complainant V.Thankappan Pillai would indicates that the complainant has deposited a sum of Rs.8,00,000/- on 18.07.2019 as fixed deposit in Popular Dealers.

The unchallenged averments in the affidavit coupled with Exts.A1 and A2 documents would establish prima facie that the complainant has deposited Rs.8,00,000/- with opposite parties and the interest agreed to be paid was 12% per annum.

The complainant has sworn in the chief affidavit that on 16.07.2020 when the complainant approached the opposite parties for the renewal of the receipt, the same was submitted to the 3^rd opposite party for the renewal of the principal amount along with interest.  In token to the receipt of the original certificate, the opposite parties have issued an authenticated copy of the same with endorsement that Original Received for Renewal on 16.07.2020.  Thereafter he came to know that the opposite parties are not returning back the fixed deposit amount as well as regular monthly interest then the complainant approached the opposite parties to release the entire amount along with interest covered by the fixed deposit amount.  Thereupon the 3^rd opposite party, Mathunni Panicker received his application for closure and all the opposite parties assured to him that he could release the entire amount within one week from the date of receipt of the closure application and the same is evidenced from the endorsement on overleaf of the photocopy of the Ext.A2 document.  But the opposite parties have failed to repay the Rs.8,00,000/- along with interest.  The materials available on record would indicate that though the complainant had approached the opposite parties several times to get back the amount he did not 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.  In the circumstances the complainant is entitled to get an order as prayed for.

                In the result complaint stands allowed in the following terms:-

1. The opposite parties 1 to 3 are directed to pay Rs.8,00,000/- to the complainant along with interest @ 12 % per annum from 11.07.2019 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.25,000/- to the complainant towards compensation for mental agony discomfort and inconveniences caused to him.
3. The opposite parties 1 to 3 are directed to pay Rs.5,000/- to the complainant towards costs of the proceedings.
4. 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

14^th  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                   : Copy of receipt No.0152561 dated 18.07.2019 issued by Popular Dealers,

          Kundara

Witnesses Examined for the opposite party:-Nil

 Documents marked for opposite party:-Nil