By Sri. K. Gheevarghese, President:-
The complaint filed against the Opposite Party for the refund of the amount deposited in the scheme run by the Opposite Party.
2. The complaint in brief is as follows:- The Complainant has taken 40 units of the scheme run by the Opposite Parties in the name of Deepasthambham Project. Each unit price of Rs.1,250/- and in total Rs.50,000/- was deposited and at the time of purchase of this unit the assurance of the Opposite Party was that the Complainant would be given double the sum of the deposited amount within 2 years and in addition benefit of lottery tickets purchased in behalf of the Complainant for each unit worth of Rs.10/- and its benefit would also be accumulated in the income. The Opposite Party had given wide extensive advertisements which trapped this Complainant to invest Rs.50,000/- for the purchase of 40 units. The Complainant on completion of the deposited period demanded the return of the amount with added profit on 10.11.2009 and thereafter in several occasions the Complainant approached the Opposite Party to get the amount refunded. The Opposite Party is not ready to refund the deposited sum with assured profits. It is a clear deficiency in service. There may be an order directing the Opposite Party to refund the Complainant the amount of Rs.50,000/- deposited with an interest at the rate of 15% from the date of 11.11.2005 and towards cost and compensation Rs.10,000/- and Rs.1,500/- respectively.
3. The Opposite Party filed version in brief it is as follows:- The amount entrusted to the Opposite Party on 11.11.2005 is admitted but the dispute in this stage is highly time barred. There was no advertisement in visual or other medias to return the double of the amount deposited along with commission of lottery prize. The Complainant joined the scheme after convincing of the facts and merits of the scheme. The allegation of the Complainant that Rs.50,000/- was deposited in the project is not absolutely correct. It is not accustomed to the Opposite Party to receive the deposit amount instead the amount entrusted by interested parties are invested for the purchase of lottery tickets and for the issuance of the college magazines to the members. The amount as such invested has no maturity period as avered in the complaint. The benefits are given to the members strictly basing on the seniority. In the case of this complaint the Complainant was given Rs.4,255/- as commission of the lottery prize.
4. The smooth running of the scheme has some legal impediments which caused delay in the refunding of the entrusted amount along with commission. The complaint itself is not maintainable hence it is to be dismissed with cost.
5. Points in consideration are:-
Is there any deficiency in service on the part of the Opposite Parties?
Relief and cost.
6. Points No.1 and 2:- The evidence in this case consists of the proof affidavit of the Complainant and Ext.A1 the document. The Opposite Parties have not tendered any evidence and no documents in support of their contention are produced.
7. The Complainants case is that Rs.50,000/- was deposited in the scheme run by the Opposite Party and it is also admitted by the Opposite Party that the Complainant entrusted Rs.50,000/- in the project named Deepasthambham. Ext.A1 is the copy of the receipt given to the Complainant admitting in the Deepasthambham Project. The scheme as avered in the Complainant is liable to be refunded with profits. The Opposite Party on the other hand contended that the amount was entrusted to them for the purchase of lottery tickets and college magazines and the complainant was given Rs.4,555/- as the commission of prize won in lottery but no document in that respect is produced by the Opposite Party to substantiate their contention. From the light of the above inferences it is to be considered that the Opposite Party received Rs.50,000/- and it is not refunded with added profits. The scheme is having a continuous cause of action. The Complainant is not entitled for double the amount of the deposited sum and no document in that respect is produced. Any how the amount deposited by the Complainant is to be refunded with interest along with cost and compensation.
In the result, the complaint is partly allowed. The Opposite Parties are directed to pay the Complainant Rs.50,000/- (Rupees Fifty thousand only) with an interest at the rate of 12% from the date of joining the scheme that was on 11.11.2005 till the realization of the amount. The Opposite Party is also directed to give the Complainant Rs. 3,000/- (Rupees Three thousand only) towards cost and compensation. This is to be complied by the Opposite Party within one month from he date of receipt of this order.
Pronounced in open Forum on this the day of 23rd August 2011.
Date of filing: 29.03.2011.
PRESIDENT: Sd/-
MEMBER : Sd/-
MEMBER : Sd/-
/True Copy/ Sd/-
PRESIDENT, CDRF, WAYANAD.
A P P E N D I X
Witness for the Complainant:
Nil.
Witness for the Opposite Parties:
Nil.
Exhibit for the Complainant:
A1. Copy of Receipt 124817.
Exhibit for the Opposite Parties:
Nil.
