BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

4^TH DAY OF JANUARY 2016

O R D E R

SMT. M. YASHODHAMMA, MEMBER

This is a complaint filed by the complainants in person under section 12 of the Consumer Protection Act, 1986 seeking direction against Opposite Parties (herein after referred as OPs) to pay the matured Fixed Deposit amount along with interest, incidental charges of Rs.1,000/-, compensation of Rs.10,000/- towards mental agony on the  allegation of deficiency in service.

2.  The brief averments made in the complaint are as follows:

Complainant No.1 & 2 being husband and wife invested a total sum of Rs.9,50,000/- in the Fixed Deposit scheme of OP Company, at their Bangalore office in the year 2012 and 2013.  The details of Fixed Deposit are as under:

Out of four Fixed Deposits one Fixed Deposit got matured on October-2014 and remaining Fixed Deposits are yet to be matured.  Complainants gave pre-closure request to OP-2 at their Bangalore office due to their urgent requirement of fund for the treatment of their parents’ illness and on 25.01.2014 the complainant sent a letter requesting the OP to pre-close the Fixed Deposit and to release the Fixed Deposit amount along with interest.  Inspite of repeated email correspondences from complainant, there is no response from OP.  Hence, complainants felt deficiency in service on the part of the OP.  Under the circumstances, they are advised to file this complaint against OPs for appropriate relief.

3.  After registration of the complaint, notice was issued to OP 1 & 2.  Inspite of service of notice OPs remained absent without any sufficient reason or cause.  Hence OPs are placed exparte and posted the case for filing affidavit of the complainant.

4. So as to prove her case, complainant No.1 & 2 being husband and wife filed their affidavit evidence in support of complaint reiterating the complaint averments and produced documents.

5. The above said assertions of the complainant have remained unchallenged. OPs neither filed version nor denied the sworn testimony of the complainant.  So under the circumstances, we have no reasons to disbelieve the sworn testimony of the complainant.

6.  Let us have a cursory glance at the documents produced by the complainant.  Document No.1 is copy of a Fixed Deposit receipt issued by OP in the name of complainant No.2 bearing No.1195373 date of deposit being 01.10.2012 for a sum of Rs.3,00,000/- for the period of 2 years repayable along with interest at the rate of 12% per annum on the date of maturity i.e., on 01.10.2014.  Document No.2 is also Fixed Deposit Receipt issued by OP in the name of complainant No.1 bearing FDR No.1216781 date of deposit being 29.04.2013 for a sum of Rs.1,50,000/- for the period of 3 years repayable at the rate of interest at 12.50% per annum, date of maturity  being 29.04.2016. Document No.3 is also Fixed Deposit Receipt issued by OP in the name of complainant No.1 bearing FDR No.1228390 for Rs.4,00,000/- on 15.07.2013 repayable after three years along with interest at 12.5% per annum, date of maturity being 15.07.2016.  Document No.4 is also a copy of a Fixed Deposit receipt issued by OP in the name of complainant No.2 bearing No.1195357 date of deposit 28.09.2012 for a sum of Rs.1,00,000/- for the period of 3 years interest at the rate of 12.50%, date of maturity being 28.09.2016.  Document No.5 is copy of a letter of pre-closure dated 25.11.2014 issued by the complainant No.1 requesting OP to            pre-close 3 Nos. Fixed Deposit due to some personal reason.  Document No.6 is copy of e-mail correspondences dated 10.10.2014, 07.11.2014, 28.11.2014 and 11.12.2014 from complainant No.2 to OP requesting OP to release the Fixed Deposit amount due to some urgent financial requirements.  

7. On perusal of oral and documentary evidence of the complainant, it is made crystal clear that the complainant No.1 & 2 have deposited four Fixed Deposits with OP on different dates.  The details of Fixed Deposit are as under:

Out of four Fixed Deposit, one Fixed Deposit matured on 01.10.2014 before filing of this complaint for a sum of Rs.3,00,000/- repayable along with interest at 12% per annum after two years.  After filing of this complaint another Fixed Deposit for a sum of Rs.1,00,000/- got matured on 28.09.2015 repayable after three years along with interest at 12.50% per annum for a sum of Rs.1,00,000/-, but the other two Fixed Deposits are yet to be matured on 29.04.2016 and 15.07.2016 for a sum of Rs.1,50,000/- and Rs.4,00,000/-.  In respect of these two Fixed Deposits we cannot direct the OP to refund the amount before the date of maturity.  Complainant has to approach the OP only after the date of maturity as per Document No.1 & 4.  Complainant No.2 has deposited a sum of Rs.3,00,000/- and Rs.1,00,000/- on 01.10.2012 and 28.09.2012 with OPs repayable after period of 2 years and 3 years along with interest at the rate of 12% and 12.50% on 01.10.2014 and 28.09.2015.  The complainant has made a request with OP as per Document No.5 letter dated 25.11.2014 the same has been acknowledged by OP on the same day requesting OP to release the amount due to their personal reason.  There was no response from OP, inspite of repeated email correspondences made by the complainants.  The act of OP in not refunding the Fixed Deposit amount along with accrued interest in respect of the above said two Fixed Deposits amounts to deficiency in service.  We are satisfied that complainant No.2 proves deficiency in service against OPs. Under the circumstances in respect of FDR No.1195373 OPs are liable to refund Rs.3,00,000/- to the complainant No.2 along with interest at 12% per annum from the date of deposit to till the date of realization i.e., 01.10.2014 and interest at the rate of 18% per annum from the date of maturity till realization.  In respect of FDR No.1195357 OPs are liable to refund a sum of Rs.1,00,000/- along with interest at 12.50% from the date of deposit till the date of maturity and interest at the rate of 18% per annum from date of maturity till realization along with litigation cost of Rs.3,000/- to complainant No.2.  The deficiency in service on the part of the OPs must have caused hardship, inconvenience apart from mental agony to complainants.  Hence, OPs are directed to pay compensation of R.s.10,000/-(Ten thousand) to the complainant No.2. In respect of other two Fixed Deposits since the said Fixed Deposits are not yet matured, complainant No.1 has to approach the OPs after the respective dates of maturity.  Accordingly, we proceed to pass the following:

                                  O R D E R

1. The complaint filed by complainant is partly allowed. 

2. OPs are jointly and severally directed to refund a sum of Rs.3,00,000/- in respect of FDR No.1195373 along with interest at 12% per annum from 01.10.2012  to till the date of maturity i.e.,01.10.2014 to complainant No.2 and to pay interest at the rate of 18% per annum from the date of  maturity till realization.
3. OPs are jointly and severally directed to refund a sum of Rs.1,00,000/- in respect of FDR No.1195357 along with interest at 12.50% per annum from 28.09.2012  to till the date of maturity i.e., 28.09.2015 to complainant No.2 and to pay interest at the rate of 18% per annum from the date of  maturity till realization.

4. OPs are jointly and severally shall pay compensation of Rs.10,000/- to the complainant No.2.

5. Further OPs are directed to pay litigation cost of Rs.3,000/- to complainant No.2

6. This order shall be complied within 30 days from the date of receipt of this order.

7. Supply free copy of this order to both the parties.

(Dictated to the Stenographer and typed in the computer and transcribed by her, verified and corrected, and then pronounced in the Open Court by us on this the 4^th day of January 2016)

 MEMBER                         MEMBER                       PRESIDENT

NRS* 

CC.No.2122/2014

Witnesses examined on behalf of the complainant dated 20.06.2015

Sri.Himangka sarma & Smt.Kuntala Goswami

Witnesses examined on behalf of the OPs – Absent

List of documents produced by the OPs - Nil

MEMBER                          MEMBER                       PRESIDENT

NRS*