Date of Filing:17.11.2007<br /> Date of Order: 31.01.2008<br /> <br /> <br /> <br /> BEFORE THE II ADDITIONAL DISTRICT CONSUMER DISPUTES REDRESSAL FORUM SESHADRIPURAM BANGALORE-20<br /> <br /> Dated: 31ST DAY OF JANUARY 2008<br /> PRESENT<br /> <br /> <br /> <br /> Sri. S.S. NAGARALE, B.A, LL.B. (SPL.), President.<br /> Smt. D. LEELAVATHI, M.A.LL.B, Member.<br /> Sri. BALAKRISHNA. V. MASALI, B.A, LL.B. (SPL.), Member.<br /> <br /> <br /> <br /> <br /> <<br /> COMPLAINT NO: 2288 OF 2007 <br /> <br /> Smt. Yashoda.S,<br /> W/o R.V. Subramanya,<br /> R/at No.68, II Main, 208 Sector,<br /> KHB Colony, Yelhanka New Town,<br /> Bangalore-560064. Complainant<br /> <br /> COMPLAINT NO: 2289 OF 2007 <br /> <br /> Smt. K. Padma,<br /> W/o B.V. Srinivas,<br /> R/at No.68, II Main, 208 Sector,<br /> KHB Colony, Yelhanka New Town,<br /> Bangalore-560064. Complainant<br /> <br /> <br /> V/S<br /> <br /> 1. M/s Invest Tech Builders,<br /> & Developers Pvt. Ltd.,<br /> a Private Limited Company,<br /> having its registered office <br /> at No.377, I Floor, 7th Cross,<br /> II Main, Near Hotel Shanthisagar,<br /> Airport Road, Domlur Layout,<br /> Bangalore-560 071.<br /> <br /> 2. N. Suresh Krishnamurthy,<br /> Managing Director,<br /> M/s Invest Tech Builders,<br /> & Developers Pvt. Ltd.,<br /> No.377, I Floor, 7th Cross,<br /> II Main, Near Hotel Shanthisagar,<br /> Airport Road, Domlur Layout,<br /> Bangalore-560 071. <br /> (Common opposite party in both the cases) Opposite Parties<br /> <br /> ORDER<br /> By the President:- <br /> <br /> These two matters are clubbed for disposal since the question of facts and law involved in both the cases are one and the same and the opposite parties are one and the same.<br /> The respective complainants have filed complaints U/Sec.12 of the Consumer Protection Act, 1986 praying for refund of the amount deposited with the opposite party.<br /> 2. The facts of the case are that the complainants have invested amount with the opposite party and to that effect they have taken receipt for having deposited the amount. The complainant Smt. Yashoda.S in all deposited Rs.6,00,000/- on different dates and to that effect she had produced receipts. The copy of agreement also produced. The opposite parties have failed to repay the amount. Complainants have got issued legal notice calling upon the opposite party to pay the amount. Due to deficiency of service on the part of the opposite party the complainants have undergone greater hardship and suffered physical pain, mental stress and agony. Opposite party failed to settle the claims of the complainants and therefore, the complainants have prayed for relief. <br /> 3. Notice was issued to the opposite party. Notice was served through the Superintendent of Central Jail, Bangalore since the opposite party is in jail in respect of a criminal case lodged against him by the investors. <br /> 4. Affidavit evidence filed. Arguments heard.<br /> 5. The points for consideration are:-<br /> (1) Whether there is a deficiency in service?<br /> (2) Whether the opposite party can be directed to pay the deposits?<br /> <br /> <br /> REASONS<br /> 6. I have gone through the complaint and documents. As per the documents produced by the complainant, it is clear that they have invested amount with the opposite party. The opposite party also executed consultancy and advisory agreement. The complainant got issued legal notice demanding the repayment of amount. Notice was not answered. By the documents produced by the complainants, it is very clear that they have invested the amount with the opposite party. The case made out by the complainants has gone unchallenged. There is nothing to disbelieve the case of the complainants. The opposite party involved in financial fraud. Number of complaints have been lodged against him by the large number of investors. Therefore, a criminal case had been booked against him and the opposite party Suresh Krishnamurthy is lodged in Central Jail in connection with criminal case. All these facts clearly establish that, there was a deficiency in service on the part of the opposite party. Therefore, the complainants are entitled for an order for refund of the deposited amount with interest. In the result, I proceed to pass the following:-<br /> <br /> ORDER <br /> <br /> 7. Both the complaints are allowed. The complainant in Complaint No. 2288/2007 Smt. Yashoda.S is entitled for refund of Rs.6,00,000/- with interest. The opposite party is directed to pay a sum of Rs.6,00,000/- with interest at 18% p.a from 2/2/2005 till realization. The complainant in Complaint No. 2289/2007 Smt. K. Padma is entitled for refund of Rs.50,000/- with interest. The opposite party is directed to pay a sum of Rs.50,000/- with interest at 18% p.a from 16/3/2005 till realization. Both the complainants are entitled to costs of Rs.2,000/- each from the opposite party. <br /> <br /> 8. The original of this order shall be kept in complaint No.2288/2007 and a true copy thereof shall be kept in complaint No.2289/2007. <br /> <br /> 9. Send the copy of this Order to both the parties free of costs immediately.<br /> <br /> 10. Pronounced in the Open Forum on this 31ST DAY OF JANUARY 2008. <br /> Order accordingly, <br /> <br /> <br /> PRESIDENT<br /> We concur the above findings. <br /> <br /> MEMBER MEMBER <br /> <br /> <br />