IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Wednesday the 31st day of March, 2010
Filed on 03.10.09
Present
- Sri. Jimmy Korah (President)
- Sri. K. Anirudhan (Member)
- Smt. Shajitha Beevi (Member)
in
C.C.No.322/09
between
Complainants:- Opposite Parties:-
1. Sri.K.Balachandran Nair, 1. M/s.Providence Finance, Eramalloor.P.O.,
Aasirvadh, Cherthala- 688 537, Alappuzha Dist.
Eramalloor.P.O.,
Cherthala Thaluk-688 537 2. Smt.Kathreena Augustine,
Alappuzha. Nalampurackal Veedu,
Thuravoor South Village,
2. Smt.S.Syamala Nair, Thuravoor.P.O., Cherthala.
W/o Balachandran Nair,
-do- 3. Sri.Saji,
-do-
3. Sri.B.Rajesh,
S/o Balachandran Nair, 4. Sri.Sibi,
-do- -do-
5. Smt.Sony, W/o Jiby,
Thazhethu Veedu,
Ezhupunna South.P.O.,
Cherthala Thaluk.
6. Smt.Joyse Antony,
Nalampurackal Veedu,
Thuravoor South Village,
Thuravoor.P.O., Cherthala.
7. Smt.Lissy, D/o Antony, -do-
8. Smt.Leena, D/o Antony,
-do-
9. Sri.Sojan,
-do-
10. Sri.Varghese Antony,
-do-
11. Sri.Willson Antony,
-do-
O R D E R
SRI.JIMMY KORAH (PRESIDENT)
The complainants’ case is that the 1st and the 2nd opposite parties are firms that carry out chitty and financial business in the name and style 'Providence Finance' and Providence chitty fund respectively. The 3 to 11 opposite parties are the partners as well as the administrators of the said firm. The 1st complainant on 31st January 2001 deposited an amount of Rs.1,00,000/-(Rupees one lac only) with the opposite parties. Similarly, the 2nd complainant, on 30th January 2001 deposited an amount of Rs.15,000/-(Rupees fifteen thousand only) and on 22nd March 2005 deposited another amount of Rs.25,000/-(Rupees twenty five thousand only) with the opposite parties. The 3rd complainant on 11th March 2004 deposited an amount of Rs.20,000/-(Rupees twenty thousand only) with the opposite parties. The opposite parties issued pass books to the complainants wherein the statement of accounts as to the deposit amounts is available. The 1st complainant availed interest only up to 28th October 2008 from the opposite parties. The 2nd complainant was not receiving the interest to compound the same with the principal amount. As such the 2nd complainant is entitled to an amount of Rs.58,000/-(Rupees fifty eight thousand only) with interest from the opposite parties. The 3rd complainant also was not procuring the interest, and the same was compounded with the principal. Thus the 3rd complainant is entitled to get an amount of Rs.32,028/- (Rupees thirty two thousand and twenty eight only) with interest from the opposite parties. By the end of 2008, the opposite parties locked up their firm and stopped functioning. The complainants on a number of occasions approached the opposite parties and demanded the deposited amounts with interest from the opposite parties. The opposite parties declined to hand back the amount the complainants deposited with them. There is deficiency of service on the part of the opposite parties. The complainants sustained immeasurable mental agony. Aggrieved on this the complainants approached this Forum.
1. Notwithstanding notices was sent to the opposite prates, they did not appear before this Forum or file version and they were set exparte.
2. The evidence of the complainants, filed proof affidavit by the 1st complainant and the documents Exbts. Al to A5 were marked.
3. Bearing in mind the contentions of the complaints the sole question arises for consideration is:-
Whether the complainants are entitled to the relief sought for?
4. We carefully perused the materials placed before us. We went through the three Account books and the Pass books. The complainants’ case stands well-substantiated by the evidence put on record by the complainants. It appears from the respective pass books that the complainants have deposited the amounts with the opposite parties, and the opposite parties disbursed the offered interest only for some time. As we have already observed, the opposite parties did not make it a point to turn up or filed version. Needless to say the case of the complainants stands unassailed. We are of the considered view that the complainants are entitled to the relief sought for.
In the result, the opposite parties are directed to pay the 1st complainant an amount of Rs.1,00,000/-(Rupees one lac only) with interest @12% from 28th October 2008, to the 2nd complainant an amount of Rs.58,000/-(Rupees fifty eight thousand only) with 12% interest from January 2009 and to the 3rd complainant an amount of Rs.32,028/- (Rupees thirty two thousand and twenty eight only) with 12% interest from 28th May 2008 till the realization of the aforesaid amounts. The opposite parties are further directed to pay a compensation of Rs.5,000/(Rupees five thousand only) each to the three complainants. The complainants are at liberty to recover the said amounts both from the movable and immovable assets of the 1st and the 2nd opposite parties and the respective shares of the other opposite parties. The opposite party shall comply with the order within 30 days of receipt of this order.
The complaint is allowed accordingly. No order as to cost.
Pronounced in open Forum on this the 31st day of March, 2010.
Sd/-Sri. Jimmy Korah
Sd/-Sri. K. Anirudhan
Sd/-Smt. N. Shajitha Beevi
Appendix:-
Evidence of the complainants:-
Ext. A1 series - The Letter of Authorization dated, 26.11.2009 (2 Nos.)
Ext.A2 - The original Pass Book No.26/04
Ext. A3 - The original Pass Book No.12/01
Ext. A4 - The original Pass Book No.26/05
Ext. A5 - The original Pass Book No.11/01
Evidence of the opposite party:-
RW1 - M.Sulekha (Witness)
Ext. B1 - The copy of the Circular and Annexure
Ext. B2 - The Loan Sanction Order dated, 22.03.06
// True Copy //
By Order
Senior Superintendent
To
Complainant/Opposite Parties/S.F.
Typed by:- k.x/-
Compared by:-
