| ORDER | BEFORE THE A.P.STATE CONSUMER DISPUTES REDRESSAL COMMISSION: HYDERABAD. C.D.No. 6 OF 2005 Between: Consumer Interests Protection and Research Association (CIPRA) 004 Sri Dharma Sasta Nilayam, Vigneswara Heaven Apartment, Khairatabad, Hyderabad-4. (on behalf of chit depositers in Udayatara Financiers.) ..Complainant. And Sri Siripurapu Vishnu Mohan, Proprietor, Udayatara Financiers 74-1-23, 1st floor, Bandar Road, Patamata,Vijayawada-520010. ..Opposite party For the Complainant:CIPRA For the Opposite party: Coram: SMT.M.SHREESHA, I/c. PRESIDENT. AND SRI G.BHOOPATHI REDDY, MEMBER. FRIDAY, THE TWENTY FIRST DAY OF SEPTEMBER, TWO THOUSAND SEVEN. Oral Order:(Per Smt.M.Shreesha, Hon’ble Incharge President). *** This complaint is filed on behalf of the de-facto complainants i.e. depositors of Udayatara Financiers by CIPRA. The complainant submits that the opposite party is the Proprietor of Udayatara Financiers and collected deposits from the depositors and has not refunded the principal amounts along with interest accrued on due dates The complainant submits that the defacto complainants have made the F.D.Rs. and details of deposit, maturity date and deposited amount and maturity amount are given as follows: | S. No. | Name of the complainant/ depositor | F.D.R & % of interest | Date of Deposit | Maturity date | DepositedAmount | Matured Amount + interest | | 1. | Smt.Mallela Ramana | 1075 | 10-3-00 | 10-3-04 | 50,000 | 1,00,000 | | 2 | Smt.Mallela Ramana | 1079 | 11-3-00 | 11-3-04 | 50,000 | 1,00,000 | | 3 | K.Sruthi (Minor) rep. by father K.Sivaji Rao | 1229 | 4.11.00 | 4.11.04 | 65,000 | 1,30,000 | | 4 | K.Sesharatnam | 1189 | 11.9.00 | 11.9.03 | 60,000 | 97,800 | | 5 | M.Venkateswara Rao | 1074 | 10.3.00 | 10.3.04 | 50,000 | 1,00,000 | | 6 | M.Venkateswara Rao | 1078 | 11.3.00 | 11.3.04 | 50,000 | 1,00,000 | | 7 | K.Dharama Rao or Smt.Bharathi | 1245 | 3.12.00 | 3.12.03 | 1,00,000 | 1,63,000 | | 8 | K.Dharma Rao | 1305 | 5.2.01 | 5.2.04 | 50,000 (-)10,750 | 39,250 Balance | | 9 | K. Koteswaramma | 1426 | 19-9-01 | 19-9-04 | 50,000 | 77,000/- | | 10 | K.Bhaskara Rao | 1424 | 19-9-01 | 19-9-04 | 50,000 | 50,000/- | | 11 | P. Pattabhi Ramaiah | 1433 | 24-9-01 | 24-9-04 | 33,000 | M.I. 33,000 Balance | | 12 | P.Pattabhi Ramiah | 1430 | 23-9-01 | 23-9-04 | 67,000 | M.I. 67,000 Balance | | 13 | R.Sambhu Prasad | 1218 | 11,1.01 | 11-1-04 | 50,000 | M.I. 50,000 Balance | | 14 | Smt.G.Koteswaramma | 1371 | 1-6-01 | 1-6-04 | 50,000 | M.I. 50,000 Balance + 8 months interst | | 15 | Sri G.Siva Ramaiah | 1412 | 23-8-01 | 23-8-04 | 1,00,000 | M.I. 1,00,000 Balance + 8 months interest | | 16 | K.Peda Nageswara Rao | 1121 | 13.5.00 | 13.5.03 | 19,000 | 19,000 + interest from depositing date | | 17 | K.Siva Nagendramma | 1122 | 14.5.00 | 14.5.03 | 11,000 | 11,000 + interest from depositing date | | 18 | K.Peda Nageswara Rao | 1400 | 4.8.01 | 4.8.04 | 10,000 | 10,000 + interest from depositing date. | | 19 | V.Someswara Rao | 1480 | 26.12.01 | 26.12.04 | 15,000 | 15,000 + interest | | 20 | V.Venkata Subba Rao | 1536 | 1.6.02 | 1.6.04 | 20,000 | 20.000 + interest | | 21 | G.Koteswara Rao | 1665 | 15.6.04 | 15.6.05 | 50.000 | 50.000 + interest from depositing date | | 22 | Smt.G.Sulochana | 1664 | 15.6.04 | 15.6.05 | 50,000 | 50,000 + interest from depositing date | | 23 | K.Pattabhi Ramaiah | 1596 | 18-12-02 | 18-12-05 | 90,000 | 90,000 + interest from 8 months | | 24 | Smt.M.Venkata Sarojini | 1325 | 28.2.01 | 28.2.05 | 10.000 | 10,000 + interest from depositing date | | 25 | M.Ayyanna | 1324 | 28.2.01 | 28.2.05 | 10.000 | 10.000 | | 26 | V.Someswara Rao | 1572 | 14.9.02 | 14.9.05 | 16.000 | 16,000 + interest from depositing date | | 27 | V.Someswara Rao | 1588 | 1.12.02 | 1.12.05. | 15.000 | 15.000 + interest from depositing date | | 28 | V.Someswara Rao | 1601 | 1.2.03. | 1.2.06 | 15.000 | 15.000 + interest from depositing date | | 29 | V.Someswara Rao | | 17.3.03 | 17.3.06 | 10.000 | 10.000 + interest from depositing date | | 30 | V.Venkata Rama Rao | 1558 | 12.8.02 | 12.8.05. | 50.000 | 50.000 + interest from depositing date | | 31 | V.Venkata Rama Rao | 1559 | 12.8.02 | 12.8.05 | 50.000 | 50.000 + interest from depositing date | | 32 | V.Venkata Rama Rao | 1538 | 17.6.02 | 17.6.05 | 50.000 | 50.000 + interest from depositing date | | 33. | V.Venkata Rama Rao | 1557 | 7-8-02 | 7-8-05 | 20,000 | 20.000 + interest from depositing date | | 34 | V.Venkata Rama Rao | 1537 | 16.6.02 | 16.6.05 | 50.000 | 50.000 + interest from depositing date | | 35 | V.Siva parvathi | 1349 | 17.5.01 | 17.11.05 | 20.000 | 20.000 + interest from depositing date | | 36 | Y.Saraswathi | 1593 | 14.12.02 | 14.6.08 | 50.000 | 50.000 + interest from depositing date | | 37 | U.Venkateswara Rao | RC.No. 14/70 | | | 1.54.000 | 1.54.000 + interest from depositing date | | 38 | G.Naga Basavaiah | 1667 | 10.7.04 | 10.1.05 | 40.000 | 40.000 + interest from depositing date | | 39 | K.Kantaiah | 1085 | 25.3.00 | 25.3.03 | 1.00.000 | 1.00.000 + interest from depositing date | | 40 | K.Kantaiah | 1518 | 16.3.02 | 16.3.05 | 1.00.000 | 1.00.000 + interest from depositing date | | 41 | K.Kantaiah | 1650 | 25.3.04 | 25.305 | 1.00.000 | 1.00.000 + interest from depositing date | | 42 | D.Sita Mahalaxmi & DVS Rama Raju | 1581 | 25.9.02 | 25.9.03 | 50.000 | 57.500 (-) 17.500 40.000 28.375 68,375 + interest from due date | | 43 | DVS Rama Raju & Sita Mahalaxmi | 16/10 | 8.3.03 | 1.3.04 | 25.000 | 68.375 + interest from due date | | 44 | Movva Sree Gouthami | 1456 | 01.11.01 | 01.11.04 | 50.000 | 50.000 + interest from 01-6-04 | | 45 | Movva Sree Gouthami | 1457 | 01.11.01. | 01.11.04 | 50.000 | 50.000 + interest from 01.6.04 | | 46 | D.V.S.Rama Raju | 1489 | 08.1.02 | 08.1.05 | 50.000 | 50.000 + interest from depositing date | | 47 | D.V.S.Rama Raju | 1575 | 14.9.02 | 14.9.05 | 40.000 | 40.000 + interest from depositing date | | 48 | Shahanaz Sultana | 1594 | 17.12.02 | 13.8.03 | 81.550 | 87.972+ interest from due date | | 49 | V.Venkata Subba Rao | 16/09 | 8.3.03. | 8.3.04 | 50.000 | 50.000 + interest from due date | | 50 | Smt.T.Venkata Ramanamma | 1681 | 13.6.04 | 21.8.04 | 60.000 | 68.000 + interest from due date | | 51 | M.Rajendra Prasad | 1352 | 23.5.01 | 12.5.04 | 1.00.000 | 1.00.000 | | 52 | M.Sudha Rani | 1656 | 24.4.04 | 18.7.04 | 1.00.000 | 1.00.000 | | 53 | Kona Bhaskar Rao | 923 | 23.6.99 | 16.5.03 | 30.000. | 60.000 | | 54 | Kona Bhaskar Rao | 1149 | 21.6.00 | 4.2.05 | 40.000 | 80.000 | | 55 | Kona Kotaiah | 1255 | 13.12.00 | 13.12.04 | 50.000 | 1.00.000 | | 56 | Kona Chandra Kiran | 1494 | 18.01.02 | 13.7.06 | 26.000 | 26.000 | | 57 | K.Subhashini | 1181 | 4.9.00 | 14.9.04 | 50.000 | 1.00.000 | | 58 | Kum.P.Shilpa | 1372 | 19.6.01 | 01.6.04 | 40.000 | 40.000 | | 59 | Kum.P.Shilpa | 1408 | 20.8.01 | 20.8.04 | 10.000 | 10.000 | Complainants 51 to 59 have been added as per I.A.No.2624/2005. The Complainant submitted that in some cases the depositors have taken monthly interest and for some depositors monthly interest amounts were also not paid. The complainant submitted that some of the depositors F.D.Rs. have not matured but as they had no faith in Udayatara Financiers, they applied for withdrawal before the due date. The complainant stated that most of the defacto complainants are old people and have deposited the amounts with a view to take monthly interest but the opposite party neither paid the interest nor the principal amount. The complainant submitted that the defacto complainants requested many times for refund of their money along with interest but the opposite party refused all humble requests and failed to pay the amount. The complainant submitted that in some cases the opposite party issued cheques for refund of deposits but the cheques bounced under the caption “insufficient funds”. Therefore the defacto complainant got issued notice through CIPRA on 10-12-2004 and another notice on 27-12-2004 but there was no reply to these notices. Hence the complaint claiming Rs.33,84,597/- together with interest as per the percentages written on the F.D.Rs. and compensation of Rs.10,000/- to each of the complainant together with costs of Rs.20,000/-. Opposite party filed counter denying the allegations made in the complaint and submitted that there is no consumer relationship between opposite party and the complainant or defacto complainants. He submitted that the present complaint is not maintainable as there is no service between the complainant and opposite party and that the defacto complainants did not execute any GPA in favour of the complainant and therefore the complainant cannot initiate any proceedings on behalf of the complainants. He submitted that the alleged defacto complainants are not depositors of the opposite party and filed false cases and the amount of Rs.27,68,597/- claimed is not correct and has to be verified and submitted that the records are not available and are seized by the Commissioner of Police, Vijayawada and prayed for dismissal of the complaint. The complainant filed affidavit of Koneru Bhaskara Rao, on behalf of the other 49 defacto complainants and additional affidavits of the defacto complainants added in C.D.I.A.No.2624/2005 and Exs. A1 & A2 were marked on their behalf. The point for consideration is whether there is any deficiency of service on behalf of the opposite parties and if the complainant is entitled to the relief sought for in the complaint? Mr.Koneur Bhaskara Rao, 10th defacto complainant, filed affidavit on his behalf and on behalf of 49 other defacto complainants stating that the opposite party has not refunded the maturity amounts and hence prayed for refund of the principal amount with interest and defacto complainants 51 to 59 filed additional affidavits stating that the opposite party has not refunded the maturity amounts and hence prayed for refund of the principal amount with interest. Ex.A1 is the Registration Certificate of CIPRA and Ex.A2 are the details of F.D.Rs and bounced cheques of the defacto complainants. The complainant filed affidavit of Mr.Koneru Bhaskar Rao (defacto complainant No.10 as reflected in the statement), Katragadda Dharma Rao (defacto complainant No.8 as reflected in the statement) and Mallela Venkateswara Rao (defacto complainant No.6 as reflected in the statement) on his behalf and on behalf of other complainants at serial numbers 7,8,9,11 to 15 in which they have given details about the receipt of monthly interest and receipt of part payment and arrived at the figures to be paid as per the latest statement with respect to interest and maturity amounts due from the opposite party as follows: | S. No. | Name of the complainant/ depositor | Date of Deposit | Maturity date | DepositedAmount | Matured value with interest | Receipts/ refund | Balance as on date of maturity due | | 1. | Smt.Mallela Ramana | 10-3-00 | 10-3-04 | 50,000 | 1,00,000 | | 1,00,000/- | | 2 | Smt.Mallela Ramana | 11-3-00 | 11-3-04 | 50,000 | 1,00,000 | | 1,00,000/- | | 3 | K.Sruthi (Minor) rep. by father K.Sivaji Rao | 4.11.00 | 4.11.04 | 65,000 | 1,30,000 | | 1,30,000/- | | 4 | K.Sesharatnam | 11.9.00 | 11.9.03 | 60,000 | 60,000 | | 97,800/- | | 5 | M.Venkateswara Rao | 10.3.00 | 10.3.04 | 50,000 | 1,00,000 | | 1,00,000/- | | 6 | M.Venkateswara Rao | 11.3.00 | 11.3.04 | 50,000 | 1,00,000 | | 1,00,000/- | | 7 | K.Dharama Rao or Smt.Bharathi | 3.12.00 | 3.12.03 | 1,00,000 | 1,00,000 Balance | Monthly int. recd. | 1,00,000/- | | 8 | K.Dharma Rao | 5.2.01 | 5.2.04 | 50,000 (-)10,750 | 39,250 | Monthly int. & part payment recd. | 39,137.50 | | 9 | K. Koteswaramma | 19-9-01 | 19-9-04 | 50,000 | 50,000+22,000/- Int. due | Monthly int. recd | 77,000/- | | 10 | K.Bhaskara Rao | 19-9-01 | 19-9-04 | 50,000 | 50,000 | Monthly int. recd | 50,000 | | 11 | P. Pattabhi Ramaiah | 24-9-01 | 24-9-04 | 33,000 | 33,000 | Monthly int. recd | 33,000/- | | 12 | P.Pattabhi Ramiah | 23-9-01 | 23-9-04 | 67,000 | 67,000 | Monthly int. recd | 67,000/- | | 13 | R.Sambhu Prasad | 11,1.01 | 11-1-04 | 50,000 | 50,000+ interest | Every month int. not paid | 81,500/- | | 14 | Smt.G.Koteswaramma | 1-6-01 | 1-6-04 | 50,000 | 50,000 + 6000 int. due | 8 months int.not paid till maturity date | 56,000/- | | 15 | Sri G.Siva Ramaiah | 23-8-01 | 23-8-04 | 1,00,000 | 1,12,000 | 8 months int.not paid till maturity date | 1,12,000/- | | 16 | K.Peda Nageswara Rao | 13.5.00 | 13.5.03 | 19,000 | 19,000 | Monthly int. paid | 19,000/- | | 17 | K.Siva Nagendramma | 14.5.00 | 14.5.03 | 11,000 | 17,930 | | 11,000/- | | 18 | K.Peda Nageswara Rao | 4.8.01 | 4.8.04 | 10,000 | 10,600 | Interest due | 10,600/- | | 19 | V.Someswara Rao | 26.12.01 | 26.12.04 | 15,000 | 23,100/- | | 23,100/- | | 20 | V.Venkata Subba Rao | 1.6.02 | 1.6.04 | 20.000 | 26,000/- | Int. not paid | 26,100/- | | 21 | G.Koteswara Rao | 15.6.04 | 15.6.05 | 50.000 | 53,750/- | | 53,750/- | | 22 | Smt.G.Sulochana | 15.6.04 | 15.6.05 | 50,000 | 53,750/- | | 53,750/- | | 23 | K.Pattabhi Ramaiah | 18-12-02 | 18-12-05 | 90,000 | 1,30,500/- | | 1,30,500/- | | 24 | Smt.M.Venkata Sarojini | 28.2.01 | 28.2.05 | 10.000 | 20,000/- | | 20,000/- | | 25 | M.Ayyanna | 28.2.01 | 28.2.05 | 10.000 | 20,000 | | 20,000/- | | 26 | V.Someswara Rao | 14.9.02 | 14.9.05 | 16.000 | 23,920/- | | 23,920/- | | 27 | V.Someswara Rao | 1.12.02 | 1.12.05. | 15.000 | 21,750/- | | 21,750/- | | 28 | V.Someswara Rao | 1.2.03. | 1.2.06 | 15.000 | 21,750/- | | 21,750/- | | 29 | V.Someswara Rao | 17.3.03 | 17.3.06 | 10.000 | 14,500/- | | 14,500/- | | 30 | V.Venkata Rama Rao | 12.8.02 | 12.8.05. | 50.000 | 74,750/- | | 74,750/- | | 31 | V.Venkata Rama Rao | 12.8.02 | 12.8.05 | 50.000 | 74,750/- | | 74,750/- | | 32 | V.Venkata Rama Rao | 17.6.02 | 17.6.05 | 50.000 | 74,750/- | | 74,750/- | | 33. | V.Venkata Rama Rao | 7-8-02 | 7-8-05 | 20,000 | 29,990/- | | 29,990/- | | 34 | V.Venkata Rama Rao | 16.6.02 | 16.6.05 | 50.000 | 74,750/- | | 74,750/- | | 35 | V.Siva parvathi | 17.5.01 | 17.11.05 | 20.000 | 40,000/- | | 40,000/- | | 36 | Y.Saraswathi | 14.12.02 | 14.6.08 | 50.000 | 1,00,000/- | | 1,00,000/- | | 37 | U.Venkateswara Rao | | | 1.54.000 | 1.54.000 + 93,600/- int. upto July, 2007 | Int. paid upto July 2003. | 2,47,600/- | | 38 | G.Naga Basavaiah | 10.7.04 | 10.1.05 | 40.000 | 41,000/- | | 41,000/- | | 39 | K.Kantaiah | 25.3.00 | 25.3.03 | 1.00.000 | 1,63,000/- | | 1,63,000/- | | 40 | K.Kantaiah | 16.3.02 | 16.3.05 | 1.00.000 | 1.54.000/- | | 1,54,000/- | | 41 | K.Kantaiah | 25.3.04 | 25.305 | 1.00.000 | 1.09.000 | | 1,09,000/- | | 42 | D.Sita Mahalaxmi & DVS Rama Raju | 25.9.02 | 25.9.03 | 50.000 | 57.500 | 17.500 | 40,000/- | | 43 | DVS Rama Raju & Sita Mahalaxmi | 8.3.03 | 1.3.04 | 25.000 | 28.375 | | 28,375/- | | 44 | Movva Sree Gouthami | 01.11.01 | 01.11.04 | 50.000 | 3,750 | | 53,750/- | | 45 | Movva Sree Gouthami | 01.11.01. | 01.11.04 | 50.000 | 3,750 | | 53,750/- | | 46 | D.V.S.Rama Raju | 08.1.02 | 08.1.05 | 50.000 | 77,000 | | 77,000/- | | 47 | D.V.S.Rama Raju | 14.9.02 | 14.9.05 | 40.000 | 61,600 | | 61,600/- | | 48 | Shahanaz Sultana | 17.12.02 | 13.8.03 | 81.550 | 87.972 | | 87,972/- | | 49 | V.Venkata Subba Rao | 8.3.03. | 8.3.04 | 50.000 | 56.000 | | 56,000/- | | 50 | Smt.T.Venkata Ramanamma | 13.6.04 | 21.8.04 | 60.000 | 68.100 | | 68,100/- | | 51 | M.Rajendra Prasad | 23.5.01 | 12.5.04 | 1.00.000 | 1,12,000 | Int. paid upto 31-7-03 | 1,12,000/- | | 52 | M.Sudha Rani | 24.4.04 | 18.7.04 | 1.00.000 | 1.03.600 | | 1,03,600/- | | 53 | Kona Bhaskar Rao | 23.6.99 | 16.5.03 | 30.000. | 60.000 | | 60,000/- | | 54 | Kona Bhaskar Rao | 21.6.00 | 4.2.05 | 40.000 | 80.000 | | 80,000/- | | 55 | Kona Kotaiah | 13.12.00 | 13.12.04 | 50.000 | 1.00.000 | | 1,00,000/- | | 56 | Kona Chandra Kiran | 18.01.02 | 13.7.06 | 26.000 | 52.000 | | 52,000/- | | 57 | K.Subhashini | 4.9.00 | 14.9.04 | 50.000 | 1.00.000 | | 1,00,000/- | | 58 | Kum.P.Shilpa | 19.6.01 | 01.6.04 | 40.000 | 61,600 | | 61,000/- | | 59 | Kum.P.Shilpa | 20.8.01 | 20.8.04 | 10.000 | 10,000 | | 10,000/- | The statement filed by the complainant with respect to the amounts deposited and maturity and interests paid and is not rebutted by the opposite party at any point of time and the F.D.Rs. filed by the complainants and issued by the opposite party clearly show the name of the depositor, F.D.R. number, Amount deposited, Maturity amount. Having accepted the amounts and issued F.D.Rs., non payment of the maturity amounts is an act of deficiency of service for which act, the opposite parties are liable to pay the amounts de to the complainants. The opposite party apart from baldy stating that the records are not available and are seized by Police Department did not deny these amounts by way of any reply affidavit. Therefore, we are of the considered opinion that the opposite party, being a proprietary concern, is liable to refund the amounts as per the aforementioned statement accompanied with the affidavits of the defacto complainants together with interest at 9% p.a. from the date of filing of complaint till the date of realization together with costs of Rs.5,000/- to be paid to the complainant within a period of 6 weeks from the date of receipt of this order. INCHARGE PRESIDENT. MALE MEMBER. JM Dated 21-9-2007. //APPENDIX OF EVIDENCE// Witnesses examined for Complainant: Opposite Party -Nil- -Nil- Exhibits filed on behalf of the complainant: Ex.A1-Registration Certificate of CIPRA Ex.A2-Details of F.D.Rs and bounced cheques of the defacto complainants. Exhibits filed on behalf of the opposite party: -NIL- INCHARGE PRESIDENT. MALE MEMBER. JM Dated 21-9-2007. | |
