IN THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM MYSORE<br /> <br /> Dated this 15th day of November 2010<br /> <br /> Complaint No. 666/2010<br /> <br /> Present: 1) Sri. T.H. Narayanagowda, President.<br /> 2) Smt. Y.V.Uma Shenoi, Member.<br /> <br /> <br /> Complainant: K.R.Jayashree,<br /> No.CH-3, 7th Main, <br /> Saraswathipuram, Mysore.<br /> <br /> (INPERSON)<br /> <br /> Vs.<br /> <br /> Opponents: The Managing Partner, <br /> M/s Chanakya Finance Corporation (Regd.), <br /> No.381, 2nd Cross, Benki Nawab Street, <br /> Mandi Mohalla, II Cross, Mysore.<br /> <br /> (Opponent - 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.1,35,000/ in all along with interest from October 2009, compensation of Rs.2,000/- and cost of the complaint 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.1,35,000/- in the opponent’s Finance Corporation as 3 F.D’s of Rs.50,000/-, Rs.35,000/- and Rs.50,000/- on 05.09.2006, 10.09.2007 and 10.09.2007 respectively initially for a period of one year. The opponent has agreed to pay the interest at the rate of 12% p.a. on monthly basis. Accordingly, the opponent has issued the F.D. receipts bearing Nos.256, 050 and 051 dated 05.09.2006, 10.09.2007 and 10.09.2007 respectively. Subsequently, they have been renewed from time to time upto September 2010. The opponent has paid the interest upto September 2009 and thereafter, the opponent has failed to pay the monthly interest as well as the principal amount of the F.Ds in spite of repeated demands. Hence, she has got issued the legal notice dated 11.08.2010 to the opponent demanding the payment of the said amounts along with interest. 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 the refund of the F.D. amounts along with interest from October 2009 and onwards. Hence, this complaint is filed against the opponent for recovery of the F.D. amounts along with interest, compensation and cost of the complaint etc.,. <br /> 3) Inspite of service of notice, the opponent remained absent. Hence, he has been placed exparte and posted the case for evidence of the complainant. Thereupon, the complainant has filed her affidavit in lieu of evidence and relied upon several documents and closed her side. Hence, thereafter, heard the arguments of the complainant 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, 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 /> 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 her case, the complainant has filed her 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 her case made out in the complaint. Thus the said evidence of the complainant fully support her case made out in the complaint including the demands made by her 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. 256, 050 and 051 dated 05.09.2006, 10.09.2007 and 10.09.2007 respectively, office copy of the legal notice dated 11.08.2010, postal receipt and returned postal envelope in support of her case made out in the complaint. The contents of the said documents relied upon by the complainant also fully support her case made out in the complaint. Thus, the oral and documentary evidence placed on record by the complainant fully support her 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 establish her 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 monthly interest from October 2009 and onwards and also F.D. amounts 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.750/- apart from the refund of the F.D. amounts along with interest. Admittedly, the opponent has paid the interest upto September 2009 and therefore, the complainant is entitled for the interest from October 2009 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 October 2009 till the date of payment. Accordingly, we answer point no.1 partly in the affirmative.<br /> <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 /> <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.1,35,000/- in all to the complainant along with further interest at the rate of 6% P.A. from October 2009 till the date of payment. <br /> <br /> <br /> The opponent is also directed to pay the compensation and costs of Rs.750/- 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 /> (Order dictated, corrected and then pronounced in the open Forum on this 15th day of November 2010)<br /> <br /> <br /> <br /> <br /> Member. President.<br />