By. Sri. P. Raveendran, Member:-
Brief of the complaint:- The opposite parties made wide advertisements in medias to the fact that the amount deposited in the project would be doubled and multiple to 208% including lottery commission within a few months. This also mentioned in the notice issued by the opposite parties. At the time of making deposit it was specifically told that deposit will be renewed and redeposited every two years unless withdrawn. So complainant has deposited Rs.12,500/- on 03.12.2005 in receipt No.134880 and Rs.25,000/- on 24.01.2006 in receipt No.164250. It has been specifically mentioned in the letter dated 20.03.2007 of the opposite parties that double amount would be given to all deposits made after 06.05.2005 as promised and the first list of depositors entitled for double amount will be published on 18.04.2007. By this the opposite parties reiterated that they will provide double amount within two years of deposit. This complainant renewed the deposits every two years. Accordingly deposits stand renewed in 12/2007, 12/2009, 12/2011 and in 01/2008, 01/2010 and 01/2012 respectively. As on this date deposits stands renewed three times. No separate receipts were issued on such renewals. This complainant had approached the opposite parties at their Branch office, Kalpetta many times to know the growth of the deposits. On that occasion the Branch Manager of the opposite parties informed orally that the project is running smoothly and deposits are being grown and the deposited amounts and accretions thereon at the promised rate will be repaid shortly.
2. On 01.03.2012 when complainant went to the Branch Office, surprisingly noted that the opposite parties closed down the branch office and revealed that they have shifted all records from here to there office at Ernakulam. Immediately the complainant contacted the opposite parties and demanded to refund of the amount deposited and increments thereof. That time they informed that they cannot repay the amount. The complainant has no information regarding shifting of Branch Office from Kalpetta to Ernakulam. The deposits of the complainant's are with the opposite parties for last 6 years. According to the promise of the opposite parties the deposit amount would have been multiple to Rs.1,00,000/-+2,00,000= 3,00,000/-. Opposite parties are not repaying the amount even after demand is made. The acts of the opposite parties are unfair trade practice and deficiency in service on the part of the opposite parties. The complainant is also entitled to get Rs.15,000/- as compensation and Rs.5,000/- as cost. Hence it is prayed to pass an Order directing the opposite parties to pay an amount of Rs.3,20,000/- to the complainant.
3. Notices served on the opposite parties, vakalath is proposed for the opposite parties. But thereafter they have not appeared and filed their version. Hence the opposite parties are set exparty and proceeded with the case.
4. On considering the complaint the following points are to be considered:-
1. Whether there is any deficiency in service on the part of the opposite parties?
2. Relief and Cost.
5. Point No.1:- To prove the complainant's case he has filed his chief affidavit and Ext.A1 to A4 documents were also marked. Ext.A1 is the receipt issued by the opposite parties to the complainant. It shows that the complainant has deposited an amount of Rs.12,500/- on 03.12.2005 with the opposite parties. Ext.A2 is the receipt issued by the opposite party to the complainant. On perusing the above documents it is found that the complainant has deposited an amount of Rs.25,000/- on 24.01.2006 with the opposite parties. Ext.A3 is the copy of the advertisements regarding LIS Deepasthambham Project. Ext.A4 is the copy of the letter sent by the opposite parties to the complainant. On perusing Ext.A3 it is seen that the deposit amount would be multiple increase to 108% profit. On going through Ext.A4 it is found that the amount will be multiple. So not giving the deposited amount with their promise is deficiency of service on the part of the opposite parties. Point No.1 is decided accordingly.
6. Point No.2:- As per Exts.A3 and A4 the complainant is entitled to get the deposited amount with 108% increase. He is also entitled to get Rs.3,000/- as cost and compensation.
In the result the complaint is partly allowed. The opposite parties are directed to pay an amount of Rs.37,500/- (Rupees Thirty Seven Thousand and Five Hundred Only) with 108% increase. The opposite parties are also directed to pay an amount of Rs.3,000/- (Rupees Three Thousand Only) as cost and compensation. This is to be complied by the opposite parties within 30 days from the date of receipt of this Order.
Pronounced in Open Forum on this the day of 30th April 2012.
Date of Filing:15.03.2012.
