Complainants in person
Opponent exparte
*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-**-
Per Hon’ble Shri. V. P. Utpat, President
:- JUDGMENT :-
Date – 28th May 2013
This complaint is filed by two complainants against Investment Company for deficiency in service u/s 12 of the Consumer Protection Act, 1986. Brief facts are as follows-
[1] Complainant No.1 Shivanjali Vivek Sawant Bhosale is resident of Vasant Kunj, Ambegaon Bk., Pune. Complainant No.2 Sumitra Sambhaji Pawar is resident of Guruwar Peth, Pune. Complainant No.1 had invested Rs.1,00,000/- and Complainant No.2 had invested Rs.2,00,000/- with the Opponent No.1 who had agreed to pay dividend @ 3% per month on the invested amount. The entire money was invested by paying the amount through cheques. Initially the Opponent had paid dividend as per the agreement. But subsequently he had stopped to pay dividend. He had returned Rs.65,000/- to the Complainant No.1 in installments. But had did not return any amount to the Complainant No.2. It is the case of the complainants that non payment of dividend as well as principal amount amounts to deficiency in service. Hence the Opponents is liable to pay compensation as well as the principal amount. They have claimed principal amount alongwith dividend and interest on the said amount to the tune of 12% p.a.
[2] The Opponent though duly served remained absent. Hence complaint is proceeded exparte against him.
[3] Complainants have produced documentary evidence in order to substantiate the claim. It reveals from the same that the Complainant No.1 has paid Rs.1,00,000/- to the Opponent on 29/10/2009 and the Complainant No.2 paid Rs.2,00,000/- by issuing two cheques to the tune of Rs.50,000/- and Rs.1,50,000/-. Admittedly the Complainant No.1 has received Rs.65,000/- from the Opponent. It is also admitted by the complainants that they have received dividend for the period of December 2009 to May 2011, April 2010 to May 2011 and June 2010 to May 2011 on the amount invested by them at different times. It reveals from the documentary evidence that Opponent agreed to pay 3 % dividend to the complainant No.2. But the complainant No.1 has not produced any documentary evidence in the form of agreement or receipt to show that the Opponent had agreed to pay 3% dividend per month to the Complainant No.1. She has admitted that she has received Rs.65,000/- hence she is entitled to receive remaining amount of Rs.35,000/- from the Opponent. However there is no record before the Forum to show that opponent had returned the amount of the complainant No.2. Hence she is entitled to receive Rs.2,00,000/- from the Opponent. As the amount was invested by both the complainants for getting certain dividend or interest hence they are entitled to receive interest @ 9% p.a. on the amount which is due from the Opponents. It is established by the complainants that Opponent has caused deficiency in service due to non payment of he principal amount as well as interest. Hence I pass the following order-
:- ORDER :-
1. Complaint is partly allowed.
2. It is hereby declared that the Opponent has caused deficiency in service by non payment of principal amount as well as dividend and interest on the said amount to the complainants.
3. The Opponent is directed to pay Rs.35,000/- along with
9 % p.a. interest from June 2011 till its realization to the Complainant No.1 Shivanjali Vivek Sawant Bhosale within six weeks from the date of receipt of copy of order.
4. The Opponent is directed to pay Rs.50,000/- to the complainant No.2 Sumitra Sambhaji Pawar alongwith interest @ 9% p.a. from June 2011 till its realization within six weeks from the date of receipt of copy of order.
5. The Opponent is directed to pay Rs.1,50,000/- to the complainant No.2 Sumitra Sambhaji Pawar alongwith interest @ 9% p.a. from June 2011 till its realization within six weeks from the date of receipt of copy of order.
6. The Opponent is directed to pay Rs.5,000/- to each of the complainant by way of compensation for mental agony and cost of proceeding within six weeks from the date of receipt of copy of order.
Copy of order be supplied to both the parties free of cost.
