IN THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM MYSORE<br /> <br /> Dated this 11TH day of October 2010<br /> <br /> Complaint No. 616/2010<br /> <br /> Present: 1) Sri. T.H. Narayangowda, President.<br /> 2) Smt. Y.V.Uma Shenoi Member.<br /> 3) Sri. Shivakumar.J, Member.<br /> <br /> Complainant: Sri R.Krishnappa, S/o Late Rangaiah,<br /> R/at No.381, E Block, 12th Cross, J.P.Nagar, <br /> Mysore.<br /> <br /> (By Sri. K.R.Shivashankar, Advocate).<br /> <br /> Vs.<br /> <br /> Opponents: Sri Nanjundaraje Urs, Managing Partner, <br /> Chanaykya Finance Corporation (Regd.), <br /> Office at II Cross, B.N.Road, Mandi MOhalla,<br /> Mysore..<br /> <br /> (Opponent is exparte)<br /> <br /> (Order dictated by Sri. T.H.Narayana Gowda, President)<br /> <br /> ORDER<br /> <br /> This is a complaint filed by the complainant u/s. 12 of the C.P. Act against the opponent for directing to pay the F.D. amounts of Rs.2,00,000/ in all along with interest at the rate of 18% p.a., damages of Rs.10,000/-, and cost of the complaint Rs.5,000/- etc., <br /> <br /> 2) The case of the complainant in brief as set out in the complaint is as follows:-<br /> That on the pursuation of the opponent, the complainant has deposited the total sum of Rs.2,00,000/- in the opponent’s Finance Corporation as three F.D.’s of Rs.1,00,000/-, Rs.50,000/- and Rs.50,000/- on different dates for different periods. The opponent has agreed to pay the monthly interest at the rate of 12% p.a. on the aforesaid F.D. amounts. Accordingly, the opponent has issued F.D. receipt bearing Nos. 746, 168 and 1015 dated 04.12.2003, 21.12.2004 and 19.05.2008 respectively. Subsequently, the opponent has also got renewed the F.D.R’s bearing Nos. 168 and 1015 upto 21.12.2010 and 19.05.2010 respectively. The opponent has paid the monthly interest at the agreed rate of 12% p.a. upto December 2009 and thereafter, the opponent has failed to pay the monthly interest on the said F.D. amounts from 01.01.2010 and onwards in spite of repeated demands. The opponent has also failed to pay the matured F.D. amounts along with balance interest even after the dates of maturity inspite of repeated demands. Hence, the complainant has got issued the legal notice dated 28.06.2010 to the opponent demanding him to pay all the F.D. amounts along with interest from 01.01.2010. In spite of the same, the opponent has failed to comply with the said notice. Thus, the opponent has deliberately avoided to pay the F.D. amounts belonging to the complainant and thereby committed the deficiency in service. Therefore, the opponent is also liable to pay the compensation apart from refunding the F.D. amounts along with interest from 01.01.2010. Hence, this complaint is filed against the opponent for recovery of the F.D. amounts along with compensation and cost of the complaint. <br /> 3) The notice issued to the opponent by RPAD returned unserved as not claimed. Hence, the opponent has been placed exparte and posted the case for evidence of the complainant. Thereupon, the complainant has filed his affidavit in lieu of evidence and relied upon several documents and closed his side. Hence, thereafter, heard the arguments of the complainant’s counsel and then posted the case for orders. <br /> <br /> 4) In view of the facts and circumstances of the case and the arguments submitted by the complainant’s counsel, the points that would arise for our consideration are as follows:-<br /> <br /> 1) Whether the complainant is entitled for the reliefs sought for in the complaint?<br /> 2) What Order?<br /> <br /> <br /> <br /> <br /> <br /> 5) Our findings on the aforesaid points are as follows:-<br /> <br /> Point No.1:- Partly in the affirmative. <br /> Point No.2:- As per final order for the following, <br /> <br /> REASONS<br /> <br /> 6) Point No.1:- As already stated above, in order to establish his case, the complainant has filed his affidavit in lieu of evidence and relied upon several documents. In the affidavit, the complainant has duly sworn on oath in respect of all the averments of his case made out in the complaint. Thus the oral evidence of the complainant fully support his case made out in the complaint including the demands made by him for the payment of F.D. amounts along with interest. Apart from the said oral evidence, the complainant has also relied upon the documents namely, original F.D. receipts bearing Nos.746, 168 and 1015 dated 04.12.03, 21.12.04 and 19.05.08 respectively, office copy of the legal notice dated 28.06.2010, postal receipt and returned postal envelop in support of his case made out in the complaint. The contents of the said documents relied upon by the complainant also fully support his case made out in the complaint. Thus, the oral and documentary evidence placed on record by the complainant fully support his case made out in the complaint. The said evidence of the complainant is neither challenged nor rebutted by the opponent in any manner. Thus, the said evidence of the complainant remained unchallenged. Hence, under these circumstances, we have no other alternative except to believe the said evidence and the case of the complainant. <br /> 7) In view of all the aforesaid reasons, we have no other alternative except to hold that the complainant has established his case by placing sufficient material on record. The facts and circumstances of the case and the material discussed above, clearly indicate that the opponent has failed to pay the F.D. amounts along with balance interest from January 2010 and onwards, in spite of repeated demands made by the complainant and thereby caused inconvenience to the complainant and thus, there is deficiency in service. Therefore, the opponent is also liable to pay the reasonable compensation and cost of Rs.1,000/- apart from the refund of the F.D. amounts along with interest. Admittedly, the opponent has paid the monthly interest upto December 2009 and therefore, the complainant is entitled for the interest from 01.01.2010 and onwards. Having regard to the present banking rate of interest, we feel it just and reasonable to grant further interest at the rate of 6% p.a. from 01.01.2010 till the date of payment. Accordingly, we answer point no.1 partly in the affirmative.<br /> <br /> 8) Point No.2:- In view of the reasons and finding recorded on the point No.1, we hold that the complainant is entitled for the recovery of the F.D. amounts along with further interest, compensation and costs as stated above. Accordingly, the complaint deserves to be allowed in part in the ends of justice. Hence in the final result, we proceed to pass the following, <br /> :: O R D E R ::<br /> <br /> The complaint is allowed in part and the opponent is directed to pay the F.D. amounts of Rs.2,00,000/- in all to the complainant along with further interest at the rate of 6% P.A. from 01.01.2010 till the date of payment. <br /> <br /> The opponent is also directed to pay the compensation and costs of Rs.1,000/- to the complainant. <br /> <br /> All the aforesaid amounts shall be paid to the complainant within 45 days from the date of receipt of copy of this order. <br /> <br /> <br /> <br /> <br /> (Order dictated, corrected and then pronounced in the open Forum on this 11th day of October 2010)<br /> <br /> <br /> <br /> Member. Member. President.<br /> <br /> S.R.L.<br />