By Sri. MOHANDASAN.K, PRESIDENT
1. The complaint in short is as follows:-
The opposite party is a reputed co-operative society in the locality and thus the complainant approached the opposite party to deposit an amount of Rs. 10,00,000/- as FD with interest at the rate of 8.5% per annum on 07/06/2018. On attaining maturity, the complainant approached the opposite party to release the amount. Then the opposite party said that there is no enough amount in the bank to refund the deposit and directed the complainant to approach after one month. The complainant approached thereafter one month and subsequently several times. All the occasions the opposite party failed to release the FD amount. On 24/09/2019 the complainant approached the opposite party for the release of the amount and at that time the opposite party released half of the FD amount Rs. 5,00,000/- along with interest. The opposite party further assured the balance amount of Rs. 5,00,000/- with interest will be issued later and the complainant will be called in case sufficient amount arrives in the bank account. But thereafter months the opposite party did not call the complainant and no information was served on the complainant. Then the complainant again approached the opposite party, but the opposite party failed to release the FD amount. The complainant approached through the directors of the society and at that time it was disclosed that the deposited amount of complainant has been withdrawn by somebody and as per the records the complainant is not entitled any amount from the opposite party society. The complainant alleges deficiency in service and unfair trade practice on the part of the opposite party. The complainant approached the Commission seeking direction to the opposite party to refund the deposited amount of Rs. 5,00,000/- along with interest. The complainant further claimed compensation of Rs. 1,00,000/- and cost of Rs. 20,000/-.
2. On admission of the complaint notice was issued to the opposite party and the opposite party on receipt of notice entered appearance and filed version in detail.
3. The opposite party admitted the fact the complainant had deposited an amount of Rs. 10,00,000/- as FD No.1/665 on 07/06/2018 with the interest at the rate of 8.5% per annum. But the opposite party submitted that as per records of the opposite party the said amount was released on 28/07/2018 along with Rs. 8,384/- as interest.
4. The opposite party denied the allegation that the complainant approached the opposite party on 24/09/2018 and thereafter on various days. But the records reveal that there is no deposit amount is pending in favour of the complainant. The attender of the opposite party Mr. Abdul Jabbar did some malpractice in the computer software of the Sangam and thereafter he appropriated gold and other deposits from the Sangam. There is an enquiry is pending under Section 68 of the Co-operative Societies Act and under Section 65 of Co-operative Societies Act. The deposit of the complainant is included in the schedule of the premature close deposit. The Vengara police has registered a Crime as 48/2019 and which is pending before the JFCM Court, Malappuram. The hardware disk of the opposite party is kept under the court in sealed condition. Only on completion of the enquiry it will be decided whether the complainant is entitled the amount or not. The opposite party had issued public notice to verify the persons who lost their deposit from the opposite party. But the complainant did not reply for the same. The opposite party submitted that as per records the complainant deposited an amount of Rs. 10,00,000/- on 07/06/2018 as FD No.1/665. But the same stands closed on 28/07/2018 as premature closure. The opposite party on the issues of the society started enquiry and if it is proved correct the opposite party is ready to give back the money to the complainant. There is no deficiency or unfair trade practice on the part of opposite party.
5. The opposite party submitted that, due to detecting anomalies in the society, the opposite party started legal action duly. The Secretary of the Sangam and attender were put under suspension and domestic enquiry started. As per direction of Joint registrar, enquiry under Section 65 of Co-operative Society Act has finished. In case of the enquiry report under section 68 of Co-operative Society Act, the police enquiry will be initiated. It is submitted that only based on final report of the police, it can be determined whether the complainant is entitled any amount or not. The opposite party is ready and willing to refund the amount with the interest to the complainant. If they receive enquiry report, the opposite party is ready to refund the amount based on priority of maturity date. The opposite party further prayed for a breathing time to refund the deposited amount to the complainant.
6. The complainant and opposite party filed affidavits and documents. The documents on the side of complainant marked as Ext. A1 & A2. Ext. A1 is copy of fixed deposit receipt dated 07/06/2018. Ext. A2 is copy of Seizure Mahazar dated 04/11/2020. Documents on the side of opposite party marked as Ext.B1 to B3. Ext.B1 is ledger/deposit/ fixed deposit for the period from 07/06/2018 to 20/04/2021. Ext. B2 is copy of pages 1& 16 from the 65-enquiry report. Ext. B3 is copy of list of closed FD deposits without bond. The issue in this complaint is that whether the complainant is entitled the deposited amount, relief and cost.
7. The case of the complainant is that, he deposited an amount of Rs. 10,00,000/-as FD with interest at the rate of 8.5% per annum on 07/06/2018 and subsequently the complainant received Rs.5,00,000/- from the account of the complainant. Thereafter the complainant approached opposite party for the refund of balance amount of Rs. 5,00,000/- But the opposite party failed to release the amount.
8. The opposite party admitted that, the complainant had deposited an amount of Rs. 10,00,000/- with interest at the rate of 8.5% per annum on 07/06/2018, but the amount was closed on 28/07/2018 along with Rs. 8384/- as interest. The opposite party denied the allegation that the complainant approached the opposite party for the refund of the deposited amount and said that there is no amount in deposit in the name of complainant. The opposite party submitted that there were malpractices from the side of attender Mr. Abul Jabbar, the attender of the society. The enquiry reports of the Co-operative Societies Act U/s 65 mentioned the name of complainant in the prematurely closed fixed deposit. There was Section 68 enquiry under co-operative societies Act. The Vengara Police registered a crime against the attender Abul Jabbar which is pending before JFCM Court Malappuram, the computer hard disk is with the police. On completion of the enquiry proceedings, it will be revealed whether the complainant is entitled for any amount from the deposited amount. The complainant had informed that only on completion of enquiry it will be revealed whether there was any manipulation and whether the complainant is entitled for any amount. There was a public notice to realise who are liable to pay by the society. But the complainant has not responded to that. The opposite party submitted that as per record there was a deposit of Rs. 10,00,000/- on 07/06/2018 and the same stands closed prematurely on 27/08/2018. The contention of the complainant is being that the deposit amount is Rs. 10,00,000/,- the opposite party is ready to give back the money if the enquiry reports reveal the liability towards the complainant. The opposite party has initiated all the legal procedures including Section 65 and 68 of Co-operative Societies Act and criminal complaint. The opposite party submitted that it is the responsibility of opposite party to refund the deposit of customers. They are ready and willing to repay the amount to the complainant on arriving sufficient amount in the account of the opposite party.
9. But from the documents and affidavit of the parties , it is evident that the complainant deposited Rs. 10,00,000/-and subsequently withdrawn Rs. 5,00,000/-. The claim of the complainant is that he is entitled for the balance amount of Rs. 5,00,000/- along with interest. The complainant submitted that due to the non-releasing of the deposited amount he suffered mental agony, in convenience, hardships and financial loss. Hence the claim of the complainant is to allow compensation of Rs. 1,00,000/- on that count. We find that complainant is entitled reasonable amount as compensation which we estimate Rs. 50,000/-. The opposite party is also liable to pay Rs. 5000/- as cost to the complainant.
10. In the light of the above facts and circumstances, we allow this complaint as follows:-
- The opposite party is directed to pay Rs. 5,00,000/- (Rupees Five lakh only) along with interest at the rate of 8.5 % per annum from the date of 07/06/2018 till the date of this order.
- The opposite party is directed to pay Rs. 50,000/- (Rupees Fifty thousand only) as compensation to the complainant due to deficiency in service and thereby caused inconvenience, hardship, and financial loss to the complainant .
- The opposite party is directed to pay Rs. 5000/-(Rupees Five thousand only) as cost to the complainant.
The opposite party shall comply this order within one month from the date of receipt of copy of this order, failing which the complainant is entitled interest at the rate of 12% per annum for the above said entire amount from the date of order to till date of payment.
Dated this 30thday of May, 2023.
MOHANDASAN K., PRESIDENT
PREETHI SIVARAMAN C., MEMBER
MOHAMED ISMAYIL C.V., MEMBER
APPENDIX
Witness examined on the side of the complainant : Nil
Documents marked on the side of the complainant : Ext.A1& A2
Ext.A1 :Copy of fixed deposit receipt dated 07/06/2018.
Ext.A2 :Copy of Seizure Mahazar dated 04/11/2020.
Witness examined on the side of the opposite party : Nil
Documents marked on the side of the opposite party : Ext. B1 to B3
Ext.B1 : Ledger/deposit/ fixed deposit for the period from 07/06/2018 to
20/04/2018.
Ext.B2 : Copy of pages 1 &16 from the 65 enquiry report.
Ext.B3 : Copy of list of closed FD deposits without bond.
MOHANDASAN K., PRESIDENT
PREETHI SIVARAMAN C., MEMBER
MOHAMED ISMAYIL C.V., MEMBER
