Complaint Filed on: 31.01.2015
Disposed On: 20.02.2016
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN
20TH DAY OF FEBRUARY 2016
PRESENT:- SRI. P.V.SINGRI : PRESIDENT
SMT. M. YASHODHAMMA : : MEMBER
SMT. P.K.SHANTHA : MEMBER
COMPLAINT No.199/2015
COMPLAINANT
D.Venkataramaiah
No.1752, Amruthaganga,
6th Main, Judicial Layout,
G K V K Post,
Bangalore-560065
Karnataka
Party in person
V/s
OPPOSITE PARTIES 1. The Manager
Karvy Stock Broking Limited,
No.54, Yadalamma Heritage,
Ground Floor, Vani Vilas Road, Basavanagudi,
Bangalore-560004.
2. The Managing Director,
Neesa Leisure Limited,
Plot No.X-22-24,
GIDC Electronic Estate
Sector-25, Opp.Hillwood School, Cpmbay Square,
Gandhinagar-382044
Gujarat
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 Parties (herein after referred as OPs) to refund maturity amount of Rs.56,138/- on both the fixed deposits along with interest at 18% per annum from the date of maturity till realization along with compensation of Rs.50,000/- on the allegations of deficiency in service.
2. The brief averments made in the complaint are as follows:
OP-1 is a Broker Company and OP-2 is Head Office situated in Gandhinagar, Gujarat. Complainant and his wife had deposited two fixed deposits bearing No.13692 and 13691 with OPs through OP-1 and paid a sum of Rs.50,000/- each towards principle. The date of deposit being 14.06.2013 repayable after 12 months along with interest at 11.75% per annum and date of maturity being 13.06.2014. Further on the date of maturity complainant approached OPs seeking refund of the fixed deposit amounts. Inspite of several requests there was no positive response from the OPs for a long time. Complainant sent a letter dated 06.07.2014 to OP-2 seeking redemption of fixed deposit. The cheque issued by OP-2 dated 13.06.2014 towards refund got dishonoured. Complainant had undergone Coronary Artery Bypass Graft surgery and Knee Joint Replacement surgery to his left leg. Now, he has to undergo right leg knee replacement surgery and open heart surgery. Hence he requested OP to consider his case on priority basis and arrange for refund. The said letter was served to OP on 15.07.2014. There was no response from OP. Hence complainant sent a mail dated 06.07.2014, 11.07.2014 and 10.08.2014 with the same request to arrange for refund of the amounts. There was no response. Hence, on 08.12.2014 complainant got issued legal notice calling upon OPs to refund the fixed deposit amount of Rs.56,138/- each in both the fixed deposits along with interest at 18% per annum from the date of maturity till realization along with compensation of Rs.50,000/- within 15 days failing which he will ask his advocate to file a consumer complaint for gross negligence and deficiency in service along with civil suit for redressal of the same. The said notice was sent through First Flight Couriers Ltd. Inspite of said notice there was no response from OP. Hence complainant felt deficiency in service against OPs and has come up with the present complaint.
3. After registration of the complaint notice was issued to OP 1 & 2. Inspite of service of notice OP-2 remained absent. Hence, OP-2 is placed exparte.
4. On appearance OP-1 filed version contending that complaint is not maintainable either in law or in facts. Complainant does not come within the meaning of the definition ‘Consumer’ under section 2(1)(g) of Consumer Protection Act, 1986. Since OP has performed his obligation and there is no ‘Consumer’ dispute. Hence, complaint is liable to be dismissed in limine. OP-1 is a service provider and gets commission for the services rendered. OP-2 has availed the service of OP-1 for marketing their products. Complainant has invested with OP-2 through OP-1. The application received from the complainant for investing in deposits was sent by this OP-1 for issuing deposit certificates which they have done. When the deposit certificates were matured for payment, complainant directly approached OP-2 and has not given any information or sought any assistance of OP-1. Hence, OP-1 has exonerated from any liability. In the meanwhile, OP-2 has issued a cheque bearing No.031921 dated 13.06.2014 drawn on Axis Bank, Gandhinagar for payment, which was returned on 14.06.2014 by the Axis Bank for the reasons funds insufficient. Complainant should have preferred a criminal proceedings under section 138 of N.I. Act. This fact has been suppressed by the complainant. Complainant has not come with clean hands before this Forum. Further complainant has not made Smt.K.V.Lalithamba as another complainant. Hence, complaint requires to be dismissed for non-joinder of necessary parties. There is no deficiency in service on the part of OP-1. Hence, OP-1 prayed for dismissal of the complaint.
5. In support of defence version of OP-1, its Assistant General Manager filed affidavit by way of evidence and also filed written arguments.
6. So as to prove his case, Sri.D.Venkataramaiah, who being the complainant filed his affidavit evidence in support of complaint reiterating the complaint averments and also filed written arguments.
7. The above said assertions of the complainant have remained unchallenged. OP-2 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.
8. Let us have a cursory glance at the documents produced by the complainant. Document No.1 and 2 are copies of the two fixed deposit receipts issued by OP-2 bearing FDR No.NLL/13691 and No.NLL/13692 in the name of the complainant and his wife Smt.K.V.Lalithamba jointly for having deposited a sum of Rs.50,000/- each on 14.06.2013 repayable after 12 months along with interest at 11.75% per annum. The maturity date being 13.06.2014 and maturity amount of Rs.56,138./- each. Document No.3 is original cheque drawn on Axis Bank for a sum of Rs.50,000/- dated 13.06.2014 issued by OP-2 in the name of the complainant. Document No.4 is bank return memo/debit advice dated 04.06.2014 for the reason funds insufficient. Document No.5 is copy of the letter of the complainant dated 06.07.2014 issued to OP-2 seeking for repayment of the fixed deposit No.13692 stating the medical grounds. Document No.6 is served postal acknowledgement card. Document No.7 is copy of the e-mail correspondences between complainant and OP-2 stating that complainant is a senior citizen and have no other source of income to meet his medical expenses. He has undergone Coronary Artery Bypass Graft surgery and Knee joint replacement surgery of left leg. Now he has to undergo his right leg knee joint replacement and open heart surgery immediately.
9. On perusal of oral and documentary evidence produced by the complainant, we are satisfied that complainant along with his wife jointly invested a sum of Rs.50,000/- each, on two fixed deposits on 14.06.2013 repayable along with interest at the rate of 11.75% per annum on 13.06.2014 as per Document No.1 and 2 fixed deposit receipts issued by OP-2. After the date of maturity complainant has approached OPs for refund of maturity amount. OP-2 has issued a cheque dated 13.06.2014 for a sum of Rs.50,000/- towards refund. On presentation for encashment said cheque returned dishonoured for the reasons ‘funds insufficient’ as per Document No.4 bank return memo. Left with no alternative complainant got issued letter dated 06.07.2014 calling upon OP-2 to arrange for refund of the maturity amount on priority basis on medical ground within 15 days. The said letter served on OP-2 on 15.07.2014 as per Document No.5 and 6. The said letter ws sent through First Flight Couriers. There was no response from OPs. Hence, this complaint.
10. From the available materials on record it is crystal clear that complainant along with his wife had invested Rs.50,000/- each on 14.06.2013 with OP-2, through OP-1 agent, repayable along with interest at 11.75% per annum on 15.06.2014. After maturity complainant approached OP-2 for repayment. The cheque issued by OP-2 towards refund got dishonoured. Inspite of letter dated 06.07.2014 and several emails, OP-2 has failed to refund the maturity amount of Rs.56,138/- each to the complainant and his wife. OP-1 being an agent has facilitated the transaction between complainant and OP-2. He has received the commission for his service rendered. Hence, OP-1 is not liable to refund the amount to the complainant. The complainant’s wife Smt.K.V.Lalithamba, who being the joint holder of the fixed deposit is not a party to this complaint. However complainant’s wife Smt.K.Lalithamba appeared before this Forum and filed her consent letter stating she has no objection to issue the maturity amount of fixed deposit receipt No.13691 along with interest to her husband/complainant vide memo dated 19.02.2016. Thus, OP-2 has failed to refund the maturity amount of Rs.56,138/- in respect of each fixed deposits, after the date of maturity to the complainant who is aged about 70 years now. This act of OP-2 in retaining the matured fixed deposit amounts even, after lapse of 1 ½ years from date of maturity amounts to deficiency in service on its part. We are satisfied that complainant proved deficiency in service against OP-2. Under the circumstances we are of the considered view that OP-2 is liable to refund Rs.56,138/- each in respect of said two fixed deposits along with interest at the rate of 18% per annum from the date of maturity till realization along with compensation of Rs.5,000/- for deficiency in services and litigation cost of Rs.3,000/- to the complainant. Accordingly, we proceed to pass the following:
O R D E R
1. The complaint filed by complainant is allowed in part.
2. Complaint against OP-1 is dismissed.
3. OP-2 is directed to refund Rs.56,138/- in respect of fixed deposit No.NLL/13691 and Rs.56,138/- in respect of fixed deposit No.NLL/13692 along with interest at the rate of 18% per annum from the date of maturity i.e., 13.06.2014 till realization to the complainant.
4. OP-2 further directed to pay compensation of Rs.5,000/- for deficiency in service along with litigation cost of Rs.3,000/- to the complainant.
5. This order shall be complied within 30 days from the date of receipt of this order.
6. 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 Forum by us on this the 20th day of February 2016)
MEMBER MEMBER PRESIDENT
NRS*
CC.No.199/2015
Complainant Opposite Parties
D.Venkataramaiah
No.1752, Amruthaganga,
6th Main, Judicial Layout,
G K V K Post,
Bangalore-560065
Karnataka
1. The Manager
Karvy Stock Broking Limited,
No.54, Yadalamma Heritage,
Ground Floor, Vani Vilas Road, Basavanagudi,
Bangalore-560004.
2. The Managing Director,
Neesa Leisure Limited,
Plot No.X-22-24,
GIDC Electronic Estate
Sector-25, Opp.Hillwood School, Cpmbay Square,
Gandhinagar-382044
Witnesses examined on behalf of the complainant dated 10.06.2015-Sri.D.Venkataramaiah
LIST OF DOCUMENTS PRODUCED BY THE COMPLAINANT
1. Doc No. 1 and 2 are copies of the two fixed deposit receipts issued by OP-2 bearing FDR No.NLL/13691 and No.NLL/13692
2. Doc No. 3 is original cheque drawn on Axis Bank returning memo for a sum of Rs.50,000/- dated 13.06.2014
3. Doc No. 4 is bank return memo debit advice dated 04.06.2014
4. Doc No. 5 is copy of the letter of the complainant dated 06.07.2014
5. Doc No. 6 is served postal acknowledgement card
6. Doc No. 7 is copy of the e-mail correspondences between complainant and OP-2
Witnesses examined
on behalf of the OP-1 dated 20.07.2015
Sri.G.N.Sridhar
List of documents produced by the OP – Nil
MEMBER MEMBER PRESIDENT
