Karnataka

Belgaum

CC/187/2015

Shankar B Savadi - Complainant(s)

Versus

The Manager PACL India Ltd - Opp.Party(s)

K B Khadakbhavi

17 Dec 2016

ORDER

                

ADDITIONAL  DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, BELAGAVI

C.C.No.187/2015

                     Date of filing: 25/03/2015

                                                                  Date of disposal: 17/12/2016

 

P R E S E N T :-

 

	(1)	Shri. A.G.Maldar, B.Com,LL.B. (Spl.) President.
	(2)	Smt.J.S. Kajagar, B.Sc. LLB. (Spl.)  Lady Member.

 

 

COMPLAINANT/S   -

Shri. Shankar S/o Bhimappa Savadi, Age: Major, Occ: Service, R/o: Kokatnur (Suttatti) Tq: Athani, Dist. Belagavi.                (Rep. by Shri.K.B.Khadakbhavi, Adv.)

 

- V/S -

 

OPPOSITE PARTIES  -

1.             2.

The Manager, PACL India Ltd., 2nd Floor, Ashray Empire Building, Near RPD Cross, Opp.Uday Bhavan Hotel, Tilakawadi,  Belagavi.   The Manager, PACL India Ltd., 2nd & 3rd Floor, Parekh Arcade, Lingad Road, Bijapur, Near BLD Hospital, Bijapur.                                                     (OP.No.1 & 2 Ex-parte)

 

JUDGEMENT

 

By  Smt.J.S. Kajagar, Lady Member

 

 

This is a Complaint filed by the complainant under Section 12 of the Consumer Protection Act, 1986 (herein after referred to as Act) against the Opposite Parties (in short the “Ops”) directed to pay the matured PACL bond of Rs.1,14,035/- with interest as on today payable and compensation of Rs.10,000/- towards Mental agony and any other reliefs.

 

2.      The facts of the case in brief are that;

 

          It is case of the complainant is that, the complainant is  the member of OPs and he is having a PACL bond of Rs.50,000/- on 25.01.2007 from OPs bearing Certificate No.VI83072946, dtd:14.03.2014 and the said bond is matured on 25.01.2014, after maturity the complainant is entitled to get Rs.1,14,035/- with accrued interest. It is further contended that, after the maturity, the complainant has submitted the original PACL bond to the OP office to get the maturity amount and the OP official authority by getting the original PACL bond and they have issued acknowledgement receipt on 14.03.2014 to the complainant, since then, the Original PACL bond is in the custody of OP Company. So, that the complainant is producing the original acknowledgment receipt for claiming the PACL maturity bond amount with interest.

 

          It is further case of the complainant is that, the complainant has invested the said amount out of his own earnings and hard earned money to the OPs Company and the complainant had made several request to OPs to refund the maturity PACL bond amount and also reminders to the OP concerned official persons inspite of it the OPs are not giving any response or heed the request of complainant and postponing the same with one or the other reasons and avoiding to pay the matured PACL bond amount without any valid reasons, it goes to show that, there is a deficiency of service on the part of the OPs company.   

 

          It is further also the case of the complainant is that, the complainant had issued legal notice on 26.12.2014 through his Counsel to the OPs company  and notice was duly served to the OPs company neither sent any reply nor coming forward to make the payment of matured PACL bond as on today. Hence, ultimately  the complainant has constrained to file this complaint.

 

  3.    After issue of notice to the Opponents, the notice duly served on Op.No.1 & 2 have neither appeared nor filed any version before this Forum. Hence, the opponent No.1 & 2 are placed Ex-parte.

  

4.      The complainant has filed his affidavit in lieu of evidence in support of his case. The documents produced on behalf of the complainant for shake of our convenience we have marked as Ex.P-1 to Ex.P-4 and argument of complainant taken as heard. 

 

Now, the following points that arise for our consideration in deciding the case are;

 

1. Whether the complainant has proved that there is deficiency in service on the part of the OPs for not refund the matured PACL bond?

 

2. What order?

 

5.         Our findings to the above points are as under:

 

1. Affirmative.
2. As per final Order.

 

R E A S O N S

 

6.      Point No.1 : We have gone through the pleadings, affidavit evidence of complainant and as well as documents on record. It is true that, the complainant is the member of OPs and having a PACL bond of Rs.50,000/- on 25.01.2007 from OPs bearing Certificate No.VI83072946, dtd:14.03.2014 and the said bond is matured on 25.01.2014 for value of Rs.1,14,035/-. After the maturity, the complainant has requested to refund maturity amount submitted to the original PACL bond to the OP office and OP getting the original PACL bond and issued acknowledgement receipt on 14.03.2014 which is marked as Ex.P-1 for sake of our convenience. Though, the opponents have getting original bond and failed to pay the matured amount and postpone the same with one or other reasons. Thereafter the complainant got issued legal notice calling upon opponents to pay the maturity F.D. amount. Inspite of service of notice OPs have failed to reply the notice nor paid PACL maturity bond.

 

On perusal affidavit evidence and documents produced by the complainant i.e. the Original acknowledgement receipt for claiming the PACL maturity bond amount with interest which is already marked as Ex.P-1 standing in the name of complainant. On perusal of PACL bond Certificate No.V183072946 which is purchased by the complainant for Rs.50,000/- on dated 25.01.2007, maturity of Rs.1,14,035/- dated 25.01.2014.  Inspite of repeated request and demands made, the O.Ps. failed to pay the maturity amount in favour of the complainant. Therefore, the complainant has established as alleged in the complaint and affidavit evidence and as there is deficiency in service on the part of the OPs has been proved by the complainant.

 

Moreover, the OPs not only liable to pay the matured PACL bond amount, but they are also liable to pay with interest @ 8 % p.a. from the date of maturity on maturity amount, till the date of payment.  Hence, in our considered opinion that, the Ops not only liable to pay the matured amount, but they are also liable to pay compensation of Rs.2,000/- towards inconvenience and mental agony and Rs.1,000/- towards cost of litigation to the complainant, with this we answer to the Point No.1 in partly Affirmative.

       

7.      Point No: 2:- With these findings on Point No.1, we proceed to pass the following;

 

 

           

O R D E R

For the reason discuss above, the complaint filed by the complainant U/s 12 of the C.P. Act – 1986 is here by partly allowed with costs.

 

          The O.Ps. are hereby directed to pay the PACL bond an amount of Rs.1,14,035/- in respect of Certificate NO.V183072946  to the complainant with interest @ 8 % P.A. from the date of maturity i.e. 25.01.2014 till realization.

 

Further, the O.Ps. are hereby directed to pay a sum of Rs.2,000/-  towards mental agony and Rs.1,000/-  being the cost of the litigation to the Complainant.

 

          The order shall be complied within 10 weeks from the date of this order.

 

            (This order is dictated to the Stenographer, transcript edited, corrected and then pronounced in the open forum on this 17^th day of December, 2016).

 

Sri. A.G.Maldar,     President.

Smt. J.S. Kajagar,    Lady Member.