BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

21^ST DAY OF DECEMBER 2015

O R D E R

SMT. M. YASHODHAMMA, MEMBER

This is a complaint filed by the complainant in person under section 12 of the Consumer Protection Act, 1986 seeking direction against Opposite Party (herein after referred as OP) to refund matured Fixed Deposit amount of Rs.3,00,000/- along with interest at 18% per annum and compensation of Rs.30,000/- and cost on the allegation of deficiency in service. 

2.  The brief averments made in the complaint are as follows:

On 13.02.2014 complainant deposited a sum of Rs.3,00,000/- with OP for the period of one year repayable along with interest at 11.50% as per Fixed Deposit Receipt No.78915.  Complainant claims that she received the interest for one year, thereafter there was no communication from the OP Company about the principal amount and delayed interest after the maturity date.  Hence, complainant sent e-mails to OP, but there was no communication from OP till date.  Complainant and her husband were working in private sector Company and lost their job in the year 2013.  Since, OP had not given the principal amount, they had a very tough time and the delay impacted very badly to their family needs. For payment of school fee for their children’s education,  Complainant borrowed loan from relatives and friends for medical purposes etc.  Inspite of repeated request and e-mail correspondences OP failed to refund the matured Fixed Deposit amount.  Hence, complainant felt deficiency in service against OP. Under the circumstances, she is advised to file this complaint against OP for appropriate relief.

3.  After registration of the complaint, notice was issued to OP.  Inspite of service of notice OP remained absent without any sufficient reason or cause.  Hence, OP is placed exparte and posted the case for filing affidavit of the complainant.  

4.  So as to prove her case, Smt.Geetha Sanjeevkumar Math., who being the complainant has filed her affidavit evidence in support of her complaint reiterating the complaint averments and produced copy of three documents.  Heard the arguments of complainant.

5. The above said assertions of the complainant have remained unchallenged. OP neither filed version nor denied the sworn testimony of the complainant.  So under the circumstances, we have no reasons to disbelieve the sworn testimony of the complainant.

6.  Let us have a cursory glance at the documents produced by the complainant. Document No.1 is the copy of the Fixed Deposit Receipt bearing No.78915 issued by OP to the complainant, date of deposit being 13.02.2014, deposit amount of Rs.3,00,000/- for the period of 12 months, the rate of interest being 11.50% per annum, maturity date 12.02.2015 and maturity amount Rs.3,36,390/- Document No.2 is copy of e-mail dated 09.04.2015 sent by complainant to OP stating she has submitted her original Fixed Deposit Receipt through broker to Jaypee Infra Tech in the first week of December 2014 till date she has not received the maturity amount and requested OP to send the amount at the earliest.  Document No.3 is also e-mail requesting OP to refund of matured Fixed Deposit amount.

7. On perusal of oral and documentary evidence of the complainant, it is made crystal clear that on 13.02.2014 she has deposited a sum of Rs.3,00,000/- with OP repayable along with interest at the rate of 11.50% per annum.   After the date of maturity complainant approached OP requesting OP to refund the maturity amount, but inspite of repeated e-mail correspondences there was no single communication from OP.  Hence, this complaint.

8. In the affidavit evidence filed by the complainant she has stated that after filing this complaint on 10.04.2015 OP has refunded the principal amount of Rs.3,00,000/- to the complainant on 12.05.2015 vide cheque bearing No.000000043888 of IDBI Bank.  Complainant claims till date she has not received interest towards delayed period from February 2015 to May 2015.  Hence, she has requested the Forum to direct the OP to pay the delayed  interest for the month of February to May 2015 along with compensation of Rs.30,000/- for deficiency in service and legal expenses of Rs.5,000/-.

9.  From the material available on record, it is clear that complainant has received back the Fixed Deposit amount of Rs.3,00,000/- on 12.05.2015 from the OP and she is entitled only for the interest amount for the period February 2015 to May 2015.  OP failed to refund the maturity amount along with interest as per the date of maturity as per Document No.1. Inspite of repeated e-mail correspondences OP has failed to responded.  Hence, complainant has filed this complaint on 10.04.2015.  After filing this complaint before this Forum, OP has refunded the principal amount belatedly on 12.05.2015.  OP has failed to pay the interest amount from the date of maturity to till the date of payment.  This act of OP amounts to deficiency in service on its part.  We are satisfied that the complainant has proved deficiency in service against OP.  Under the circumstances she is entitled for the interest amount at 18% per annum on the Fixed Deposit amount of Rs.3,00,000/- from the date of maturity till the date of refund was made along with litigation cost of Rs.3,000/-.  Accordingly, we proceed to pass the following:

                                  O R D E R

1. The complaint filed by complainant is allowed in part. 

2. OP is directed to pay interest at 18% per annum on the Fixed Deposit amount of Rs.3,00,000/- for the period 12.02.2015 to 12.05.2015 i.e., from the date of maturity till the date of refund made to the complainant along with litigation cost of Rs.3,000/-.
3. The OP shall comply this order within a period of six weeks from today.

4. Supply free copy of this order to both the parties.

(Dictated to the Stenographer and typed in the computer and transcribed by her, verified and corrected, and then pronounced in the Open Court by us on this the 21^st day of December 2015)

 MEMBER                          MEMBER                        PRESIDENT

NRS* 

C.C.No.674/2015

Witnesses examined on behalf of the complainant dated 28.09.2015

1. Smt.Geetha Sanjeevkumar Math

Witnesses examined on behalf of the OP – Absent

List of documents produced by the OP – Nil

MEMBER                           MEMBER                        PRESIDENT

NRS*