By. Smt. Saji Mathew, Member:-
The gist of the complaint is as follows:- The complainant deposited a total amount of Rs.45,000/- with the opposite parties on different dates by different receipts. He also deposited Rs.5,000/- in the name of his wife, Annamma. The complainant made the deposit believing the advertisements by the opposite parties that the deposit amount would double within two years and the depositors would get other benefits.
2. On maturity of the deposit, the complainant demanded for the deposited amount with all assured benefits. But the opposite parties evaded payments saying one or other excuses. Till the date, the amount is not repaid. Therefore the complainant prays for an Order directing the opposite parties to pay the double of deposited amount with all benefits and compensation of Rs.15,000/- with cost of Rs.5,000/-.
3. In their version, the opposite parties have not denied the matter of entrusting the money by the complainant. The opposite parties state that they received the money from the complainant for supplying lottery tickets and magazines. The opposite parties are not liable to pay any interest on the money entrusted with them. There is no contract to pay any interest between opposite parties and the complainant. Therefore they pray for an Order dismissing the complaint.
4. The complainant filed proof affidavit and Exts.A1 to A5 documents were marked on the side of the complainant. Opposite parties adduced no evidence.
5. The matters to be decided are:-
1. Whether there is any deficiency in service on the side of the opposite parties?
2. Relief and Cost.
6. Point No.1:- Exts.A1 to A5 shows that the complainant had entrusted a total amount of Rs.50,000/- with the opposite parties. Though the opposite parties state that they received the money for supplying lottery tickets and college magazines, there is no evidence that they have rendered any such service. They have no case that they repaid the amount. The proof affidavit of the complainant is not denied by the opposite party. Hence the case of the complainant is taken as true and Point No.1 is found against the opposite party.
7. Point No.2:- There is no written or recorded assurance on the side of the opposite party to double the deposit by two years. However, the complainant is entitled to get the amount he deposited with the opposite parties with reasonable interest and compensation.
Hence the complaint is partly allowed and the opposite parties are directed to give the complainant an amount of Rs.50,000/- ( Rupees Fifty Thousand Only) to the complainant with 9% interest from the date of deposit till payment. The opposite parties are also directed to pay the complainant a compensation and cost of Rs.3,000/- (Rupees Three Thousand Only) to the complainant. This Order is to be complied within 30 days of the receipt of this Order.
Pronounced in Open Forum on this the day of 17th April 2012.
Date of Filing:29.12.2011.
