BEFORE THE ADDITIONAL BENCH DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT MYSURU.

Consumer Complaint (C.C.)No. 1535/2016

Complaint filed on 20.10.2016

Date of Judgement.21.08.2017

PRESENT                      :         1. Shri Ramachandra  M.S.,  B.A., LL.B.,

                                                   PRESIDENT

2. Shri  Thammanna,Y.S., B.Sc., LL.B., 

                                     MEMBER

Complainant/s       :       1. Sri. Srikantamurthy,

                                                S/o Sri. Shivananjappa,

                                                Aged about 34 years,

                                                R/at Someshwara village and post,

                                                Varuna Hobli,

                                                Mysuru Taluk.

 (Smt K.B. Gayathridevi., Advocate)

V/s

Opponent        /s             :       1. M/s Chanakya Finance

Corporation(Regd)

                                                No. 381, 1^st Floor, 2^nd cross,

Benki Nawab

                                                Street, Mandi Mohalla , Mysore,

                                                Represented by its Managing Partner

                                                Sri. A.L. Nanjundaraje Urs,

                                                S/o Late Lingaraje Urs,

                                                R/at 725/O, 2^nd cross,

                                                Vishwamanava Double road,

                                                Kuvempunagar,Mysuru.

                                                2. Sri. Rajeevalochana

                                                S/o V.V. Venkateshaiah,

                                                R/at No. 265, 8^th cross, M.Block,

                                                Kuvempunagar, Mysuru.

(OP no1 and 2 Exparte)

3. Sri. M.K. Bidappa

                                                S/o H.S. Kariyappa,

                                                R/at No. 20, K.Badagu Village,

                                                F.N.C College, Post, Madikeri.

4. Smt. Leelavathi

                                                W/o M.Shivanna

                                                R/at No. 453, 1^st cross, 1^st stage,

                                                Gayathripuram, Mysuru.

5. Smt. S.Nagarathnamma

                                                W/o R. Srinivas,

                                                R/at No. 834, 1^st cross, Kamatageri,

                                                Mandi Mohall, Mysuru.

6. Smt. H.N. Dakshayani

                                                W/o R. Ramesh,

                                                R/at No. 834, 1^st cross, Kamatageri,

                                                Mandi Mohall, Mysuru.

7. Smt. Lalitha

                                                W/o T.V. Venkataramu,

                                                R/at No. 3, Gokulam, 4^th stage,

                                                Manjunathapura, Mysuru.

                                                8. Sri. Jayaprakash

                                                S/o Late Apparoo Pillai,

                                                R/at No. 3047, 1^st cross, 1^st  stage,

                                                Gokulam, Mysuru.

9. Sri A.M. Monappa

                                                S/o A.P. Mandappa,

                                                R/at No. 22/41 Near Health Office,

                                                Madikeri-571201.

( OP 3 to 9 Sri  V.Venkataramaiah., Advocate)

SHRI RAMACHANDRA . M.S.,

     PRESIDENT

JUDGEMENT

The complainant filed the complaint under section 12 of the C.P.Act 1986, against the opposite parties seeking a direction to refund the fixed deposit total amount of Rs. 1,85,000/- along with 18% interest per annuam, on all the FDR’s from the date of investment to till the date of realization and to pay compensation and costs etc.,

2. The complainant deposited six FD amounts total sum of RS. 1,85,000/- with opposite party no 1 partnership firm. The opposite parties agreed to repay the FD amount along with 12% interest p.a. on its maturity. The opposite party issued the FDR’s , But the opposite parties have not paid any interest in spite of  repeated demands. Thereby, the opposite parties have failed to provide proper service to its customers as agreed, which amounts to deficiency in service on the part of opposite parties. Hence, the complaint against opposite parties, seeking reliefs.

          3.  Notice to the opposite party no 1 and 2 duly served remained absent they have been placed exparte.

4. The opposite party no 3 to 9 have appeared through counsel and only opposite party no 4,5, and 6 filed version and version of 3,7,8,9 taken as not filed, inspite of sufficient opportunity the opposite party 3 to 9 they have failed to file chief examination affidavit finally it is taken as not filed.

5. The opposite party no 4 to 6  in their version have admitted formation of a registered financial firm on partnership basis  and they admit , the receipt of FD amount to their firm by the complainant. and alleges that the opposite party no.2  has collected the FD in his personal capacity by violating the partnership deed. For which they claim they are not liable to pay any claim and further they claim the complaint filed is barred by limitation on this ground  they pray for dismissal of complaint. Thereafter since there is no deficiency in service they, claim that they are not liable to pay claims of complaint and prays for dismissal of complaint.

6. The prove the facts, the complainant filed chief examination affidavit and relied on several documents along with FD receipts ,the complainant filed written arguments , and heard oral arguments on perusing material documentary evidence on record and also by considering the affidavit matter is posted for orders.

7. The points arose for out consideration are:-

1. Whether the complainant entitled for the reliefs sought for?
2. What order?

8. Out findings on the aforesaid points are as follows;

                      Point  No.1: Partly in the affirmative

                   Point  No.2: As per the final order for the following:

REASONS

9. Point no:1       The first and fore most point raised by opposite party is limitation point they alleges the complaint is barred by limitation.Since it is filed after the lapse of limitation period they pray for dismissal of complaint. For which it is observed that, the point of limitation is not applicable to this complaint. For the reason that the cause of action in this complaint is “Continuing cause of action ”  as long as opposite party repay the FD amount. When such being the case the complaint is filed well within limitation period.

10. The complainant relied upon the documents in support of his case i.e., totally three FD receipts issued by opposite party firm has been placed on record. The FD receipts confirms that the complainant had deposited amount with opposite party firm on various dates. Further the FD receipts got matured subsequently. As such the opposite party firm is liable to honour the FD receipts and to pay the accrued interest till date to the complainant. In spite of issue of the notice demanding to pay the FD receipt  amount with accrued interest opposite party  has  neither complied nor replied. This clearly shows the deficiency on the part of opposite parties. Therefore, the complainant entitled for the FD receipt amount along with agreed interest at the rate of 15% p.a. from the date of its deposit till the realization of the same. Further, the complainant is entitled for compensation for the mental agony, hardship and inconvenience caused by opposite parties. Hence the point no 1 is answered partly in the affirmative.

11. Point no.2:-  From the above discussion we hereby proceed to pass the following :-

ORDER

1. The complaint is hereby allowed in part.
2. The opposite parties are jointly and severally directed to pay the total FD amount of Rs. 1,85,000/- to the complainant, along with interest at the rate of 15% p.a from their  respective date of deposits , till the date of payment.
3. The opposite parties are jointly and severally directed to pay  Rs.5,000/- towards compensation for the mental agony, hardship caused and Rs.3,000/- towards deficiency in service and Rs.3,000/- towards costs of the proceedings, to the complainant, within 60 days of this order.
4. In default to comply the opposite party shall pay interest at 12% p.a. on the said total sum of Rs. 11,000/- from the date of this order till payment.
5. In case of default to comply this order, the opposite party shallundergo imprisonment and also liable for fine under section 27 of

 the CP Act, 1986.

6. Give copies of this order to the parties as per rules.

(Dictated to the stenographer transcribed , typed by her, transcript corrected by us and then pronounced in open court on the  21^st  August  2017)  

Shri Thammanna Y.S.,                                 Shri Ramachandra M.S.,    

          Member.                                                          President.