By Sri. K. Gheevarghese, President:
The complaint filed against the Opposite Party for the refund of the amount deposited in the scheme named Accumulated Income Programme.
2. The complaint in brief is as follows:- The Complainant was lured by the advertisement of the Opposite Party that the amount entrusted in the scheme would be given back in double of the entrusted sum. Within 2 years as an additional benefits, the members who joined the scheme would be getting in commission out of winning tickets taken by the Opposite Party in behalf of the Complainant.
3. The Complainant deposited Rs. 36,000/- purchasing 36 units, each units cost Rs.1,000/- and in turn the Opposite Party has given receipts. The maturity period of the deposited sum was on 20.04.2009 and afterwards the Complainant approached the Opposite Party in person and over phone. The Opposite Parties are not ready to refund the deposited sum in double of the amount as assured.
4. There may be an order directing the Opposite Party to refund the double of the sum deposited along with other benefits offered by the Opposite Party. In case if it found that the Opposite Parties are not in a position to refund the assured benefits. The Complainant is entitled for the refund of the deposited sum with an interest at the rate of 18% from the date of deposited till the realisation of the amount.
5. There may be an order directing the Opposite Party to:-
Refund Rs.36,000/- along with other benefits assured.
If it found the Opposite Parties are not in a position to give back the offered benefits the Complainant is to be given back the deposited sum with an interest at the rate of 18%.
The Complainant is also entitle to get Rs.3,000/- towards compensation and Rs.1,000/- as cost.
6. The gist of the version is as follows:- The Complaint itself is not maintainable hence it is to be dismissed in limine. The Complainant joined the scheme fully conceding to the rules and regulations of the scheme. There was no advertisement in visual or other medias that the amount deposited would be given back in double actually it was a wrong assessment of the Complainant. The Complainant entrusted Rs.36,000/- in the Jyothis Project run by the Opposite Party but the scheme does not entertain any deposit and no interest is paid to the members including the Complainant. The scheme is envisaged for the purpose of taking lottery tickets and the issuance of the college magazines to its members. Admittedly Rs.36,000/- was entrusted and the Opposite Party purchased lottery tickets worth of Rs.3,560/- magazines were also duly sent to the Complainant. The averment of the complaint as such the MO1 deposited reached maturity on 20.04.2009 are incorrect. There is no maturity period for the amount invested. In fact out of purchasing lottery tickets if the lottery tickets won prizes that would be credited in to the account of the member and the amount entrusted is refunded on priority basis. In running of the scheme sum impediments were met with and smooth running of the scheme was objected. The reimbursement of the amount is only through lottery commission and that too was relying on the seniority joining date. The running of the scheme though refrained by Police officials the Hon'ble High Court of Kerala was pleased to order the sanction of the scheme. The Opposite Party is ready to give back the entrusted amount after deducting the cost of lottery tickets purchased and the magazines issued.
7. The Complainant is not in a position to refund the amount with interest and what more there is no stipulation in the contract between the Complainant and Opposite Party that the interest is refundable. The Opposite Party is not bound by any legal responsibility to compensate the Complainant as prayed for. The complaint is to be dismissed with cost.
8. Points in consideration are:
Whether any deficiency in service on the part of the Opposite Party?
Relief and cost.
9. Points No.1 and 2:- The evidence in this case consists of the photocopy of the beneficiary certificate which are 7 in numbers that are marked Ext.A1 series. No oral testimony of the Complainant and Opposite Parties are rendered in this case. Ext.A1 series are the certificate issued to the Complainant worth of Rs.36,000/-. The Opposite Party has not bring forth any evidence to show that a contract exist between the Complainant and Opposite Party that the amount is not to be refunded with interest. The contention of the Opposite Party that lottery tickets were purchased worth of Rs.3,560/- and no document in that respect was produced to substantiate the contention of the Opposite Party. The Complainant was not refunded the amount invested in the scheme as admitted by the Opposite Party. The offer of the Opposite Party as alleged by the Complainant was to refund double of the deposited sum. No documents were produced for the Complainant to establish that contention how ever the Opposite Party admitted the acceptance of Rs.36,000/- in the scheme and the amount entrusted to the Opposite Party is not refunded. The scheme is having an another face that it would not reach maturity. The Opposite Party had under taken that the amount entrusted would be given back after deducting the cost of lottery tickets and price of magazines. Apart from the averment in version that the lottery tickets worth of 3,560/- and magazines were purchased for the Complainant, no documentary evidence brought out to support that contention. The non refund of the deposited sum of the Complainant is a deficiency in service.
In the result, the complaint is partly allowed. The Opposite Parties are directed to refund Rs.36,000/- (Rupees Thirty Six thousand only) with an interest at the rate of 12% from the date of deposit of the sum till the date of payment. The Complainant is also entitled to get Rs.3,000/- (Rupees Three thousand only) towards cost and compensation. The Opposite Parties are jointly and severally liable to comply with this order within one month from the date of receipt.
Pronounced in open Forum on this the day of 22nd March 2011.
Date of filing:27.10.2010.
PRESIDENT: Sd/-
MEMBER : Sd/-
MEMBER : Sd/-
A P P E N D I X
Witness for the Complainant:
Nil.
Witness for the Opposite Parties:
Nil.
Exhibit for the Complainant:
A1 series (7 in numbers) Receipts.
Exhibit for the Opposite Parties:
Nil.
