IN THE CONSUMER DISPUTES REDRESSAL FORUM, KOLLAM
DATED THIS THE 29th DAY OF APRIL , 2013
Present: Smt. G.Vasanthakumari,President
Adv.Ravisusha, Member
CC.NO.117/2011
Mr. Ayona, W/o Venugopal,
Vayalil Veedu,
Mulamkadakam Ward,
Thirumullavaram .P.O,
Kollam West Village,
Kollam.- Complainant
(Adv. Ramesh Kumar, Kollam) -Complainant
V/S
1.The Manager,
Shriram Transport Finance,
Company Ltd, Anand Towers,
V.R.M. Road, Ravipuram,
Kochi, Ernakulam – 682016
2. The Branch Manager,
Shriram Transport Finance,
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Company Ltd.,
Nazeema Complex, Hospital Road, Kollam.
(Adv. Renjith kumar, Kollam) -OPPOSITE PARTIESP
ORDER
SMT.G.VASANTHAKUMARI, PRESIDENT
Complainants case is that the complainant subscribed four private placement of bonds in the nature of secured redeemable non-convertible Debentures, inshort herein after referred to as ‘NCDs’ accepted from the 2nd op, that the N.C.D.s bearing No’s : 50054796 and 50054797 for Rs. 40,000/- each are matured on 25/04/2009, but the op’s even after the repeated request and requisition of the petitioner, did not release the redemption value, aggrieved by these inaction from the side of the op, the complainant caused to file a prelitigation petition before the Hon’ble District Legal service Authority Vide P.L.P 156/2011, in which both op’s appeared and they raised their untenable contentions before the Hon’ble Authority for withholding the said NCDs without any valid reason. That , on 18/04/2011, the complainant sent a demand notice against 1st op, that
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the continous acts from the side of the op’s amounts to unfair trade practice towards the complainant and also it amounts to deficiency in service on their part, and from the subsequent conducts of the op’s, the complainant is entitled to for closure of the NCDs bearing No’s: 10461718
and 10461719, for Rs. 50,000/-each, that from the inaction and deficiency in service on the side of Ops, the complainant sustained mental agony, inconvenience , hardships and loss which could not be equated in terms of money but for the purpose of computing the compensation amount against the Ops it is limited to Rs. 50,000/- and also it is highly necessary in the interest of justice to direct the Ops to release the redemption amount of Rs. 50,000/- each with its interest as agreed and also it is very highly necessary in the interest of justice to direct the Ops to release, the NCD’s amount in the certificate No’s 10461718, and in 10461719 with its interest, to the complainant and hence this complaint to direct the Ops to release the redemption value of Rs. 40000/- each for the NCD’s bearing No’s 50054796, and 50054797 with its interest till the date of realisation and also to direct the ops to release the amount of Rs.50000/- each for the NCD’s bearing No’s 10461718, 10461719 with its
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interest, till the date of realisation, to direct the ops to pay an amount of Rs. 50000/- as the compensation to the complainant and to direct the ops to pay Rs. 5000/- as the cost of this proceedings.
Op’s filed version contending that the complaint is not maintainable either in law or on facts, that the complaint will not come under the purview of Consumer Protection Act, that this forum has no jurisdiction to deal with the facts stated in the complaint as it comes under Civil Court jurisdiction and hence the complaint is liable to be dismissed, that the complaint is barred by limitation , that the complaint is bad for non
joinder of necessary parties, that the alleged private placement bond in the nature of secured redeemable non convertible Debentures was subscribed by Dr.R. Krishnaram, Dr.Ram’s Hospital, Lekshminada, Kollam on 25.04.2006 and not by the complainant as alleged in the complaint, that subsequently a dispute arose with respect to the above said bond transferred in the name of complainant by the subscriber Dr. R. Krishnaram alleging that it is a fraudulent transfer made by the complainant when he was mentally ill, that by filing this complaint, the complainant unnecessarily impleaded this opposite party without
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impleading Dr. Krishnaram the original subscriber by suppressing all the real facts and on that ground alone this petition is liable to be dismissed, that Dr. R. Krishnaram, Dr. Ram’s Hospital, Lekshminada, Kollam-691013 subscribed private placement of bonds in the nature of secured Redeemable Non- Convertible Debentures in short hereinafter referred to as “NCDs” accepted from M/s.Shriram Transport Finance Co.Ltd., Kollam Branch, on 25.04.2006, that while so 3 lady staff of Dr. Ram’s Hospital namely Ayona Stephen, the complainant in this case and T.S.Anitha and Bency. P approached the then Manager of M/s . Shriram Transport Finance Co.Ltd., with a letter dated 25.01.2007 of Dr.R.Krishnaram along with all the original bonds in the name of Dr.R.Krishnaram and requested the company to transfer the bonds to the respective ladies mentioned in the letter dated 25.01.2007, that the company after accepting the letter and original bonds and after consulting Dr. Krishnaram transferred the bonds in the names of respective ladies and a new certificate was issued to them, that while so on 17.05.2007 the company received a letter from Dr. Mangalam who is the wife of Dr. Krishnaram that her husband is at present mentally ill due
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to oldage and illness and his one side is paralyzed and he is not in a fit condition to take a reasonable decision and she is the legal guardian of Dr. Krishnaram since he is mentally ill and infirm, that she also informed that Dr. Krishnaram made a few lakhs of Rupees as fixed deposit at M/s .Shriram transport Finance Co.Ltd. in which she is the nominee, that very recently she could understand that due to undue influence, fraud and coercion excerted by 3 female nurses who was deputed by her to nurse her husband transferred the fixed deposit in the name of Dr. Krishnaram in their favour, that the above said transfer has been made without her knowledge and consent and is liable to be cancelled and further requested to retransfer the amount to the name of Dr. Krishnaram immediately, that Subsequently on 26.05.2010 the company received a letter dated 24.05.2010 from Dr.R.Krishnaram stating that during January 2007 he was under the treatment of Dr. S.Ramanathan consultant Psychiatrist, that during that time 3 lady staffs who were working in his hospital managed to get his signature in some documents and they forged the signature of his wife Dr. Mangalam and tried to loot his savings which were kept safe with the company, that due to the timely intervention of
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his wife, the illegal acts of the 3 lady staffs Ayona Stephen the complainant in this case and T.S.Anitha and Bency were prevented, that on her request her deposit of Rs. 5 lakhs were kept hold and he further requested the company for releasing that amount, that on receiving the letter from Dr.Krishnaram, the company by letter informed Ayona Stephen, T.S .Anitha & Bency about the objection raised by the Doctor and directed the above 3 lady nurses to surrender the bond, but they did not surrender the same, that due to the above dispute the company could not release the redemption value of the bond which was matured on 25.04.2009, that the complainant Ayona Stephen filed a petition before the District Legal Service Authority, Kollam, vide petition No. 150/11 for releasing the bond, that the Hon’ble mediator directed her to examine the Doctor for proper disposal but she did not take steps to examine the doctor as directed by the mediator and after that she filed this complaint before this Forum to get released the redemption value with interest by suppressing all the real facts, that there is no deficiency in service on the part of the Ops and the complaint is only to be dismissed with cost .
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The points that would arise for consideration are:-
(1)Whether the complaint is barred by limitation?
(2)Whether the complaint is bad for non-joinder of necessary parties?
(3) Whether the complaint is maintainable?
(4) Whether there is any deficiency in service on the part of the opposite parties?
(5) Reliefs and costs?
The evidence in this case consists of the oral testimony of PW1 and documentary evidence Exbts P1 to P9 and D1 and D2.
The Points:- For the sake of convenience all points can be considered together. It is in evidence that Dr. R. Krishnaram , Dr. Ram’s Hospital, Lekshminada, Kollam-691013 subscribed, private placement of bonds in the nature of secured redeemable Non-Convertible Debentures (NCDs) accepted from M/s Shriram Transport Finance Co.Ltd, Kollam Branch, on 25-04-2006. While so 3 lady staff of Dr.Rams Hospital namely Ayona Stephen, the complainant in this case, T.S. Anitha and P.Bency approached the then Manager of M/s Shriram Transport Finance Co. Ltd, with Ext.D1 letter dated 25.01.2007 issued by Dr. R.Krishnaram along with
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all the original bonds in the name of Dr.R.Krishnaram and requested the company to transfer the bonds to the above ladies who are mentioned in the above letter. The company after accepting the letter and original bonds transferred the bonds to the names of the respective ladies and new certificates were issued to them. Exbts P1 to P4 are the bonds transferred to the name of the complainant . Here, it is pertinent to note that the above evidence falsifies the case of the complainant that she subscribed four private placement of bonds in the nature of secured redeemable non- convertible Debentures, (NCDs) accepted from the 2nd op.
It is also in evidence that on 17-05-2007 the company received a letter from Dr. Mangalam who is the wife of Dr. Krishnaram stating that her husband is at present mentally ill due to oldage and illness and his one side is paralised and he is not in a fit condition to take reasonable decisions, that Dr. Krishnaram has made a few lakhs of rupees in Fixed deposit in Op’s institution in respect of which she is the nominee, that now he is under her care and custody and under law she is his legal guardian since he is mentally ill and infirm, that very recently she could understand that due to undue influence, fraud and coercion
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exerted by three female nurses who were deputed by her to nurse him, got transferred the fixed deposit in the name of Dr. Krishnaram in their favour and they are trying to withdraw the amount, that the transfer has been made without her consent and knowledge and not valid in law and is liable to be cancelled and requested to transfer the amount in the name of Dr. Krishnaram immediately. Subsequently on 26-05-2010 the company received a letter dated 24-05-2010 from Dr.R. Krishnaram which is marked as Ext-D2 stating that he had deposited around Rs. 5 lakhs as fixed deposit with the 2nd o.p, that during January 2007 he was under the treatment of Dr.S. Ramanathan, consultant psychiatrist for domention of vascular type (H/o transient global amnesia), temporal lube epilepsy, cerebeovascular accidents, hypoperfusion due to coronary artery disease and chronic obstructive palmary disease causing poor oxygenation, that his coguitive and adoptive abilities were impaired at that time, that three lady staffs who were working in his hospital managed to get signature in some documents and they forged the signature of his wife Dr.Mangalam and tried to loot his savings which were kept safe with op company, that
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due to the timely intervension of his wife, the illegal acts of the three lady staffs Ayona Stephen, T.S. Anitha and Bency were prevented and that on the request of his wife , his deposit of around Rs. 5 lakhs were kept hold. Further by letter dated 24-05-10 Dr. R. Krishna Ram seen informed the op company that he recovered from the above said medical conditions by February 2008, that unfortunately within a short time he was hospitalized and bed ridden due to cardiac ailments, that he was under the treatment of Dr.Binu Ramesh of Upasana Hospital, Kollam and Dr. Vijayaraghavan of KIMS Hospital, Trivandrum, that for the last 2 years he was hospitalized several times in these hospitals and a huge amount was spent by his family to save his life, that still now the treatment is continuing, that he don’t like to bend his head even before his family members to meet the expenses of his treatment and so he is highly in need of money, and requested the company to do the needful for releasing the amount around Rs. 5 lakhs deposited by him with Op2 . According to Op’s on receiving the above letter from Dr.Krishnaram, the company by letter informed Ayona Stephen, T.S.Anitha and Bency about the objection raised by Doctor and
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directed them to surrender the bonds but they did not surrender the same. At this juncture it is to be noted that the above letter not forthcoming. As a counter to the ailments mentioned in the letters complainant produced Ext.P8 and P9 books written by Dr. R.Krishna Ram. But it is pertinent to note that Ext. P8 was written prior to 2004 and in Ext.P9 there is no mention about the period when it was written. Any way we are not going to probe into that matter since it is a matter to be decided by appropriate civil court.
Further it is to be noted that the bond matured on 25-04-2009 and this case filed after two years is barred by limitation. Even though it is the case of the parties that complainant approached the District Legal Services Authority, Kollam, vide petition No.150/11 fro releasing the bond and after that this complaint, the order not produced to go through the verdict to see as to whether there is anything to save limitation.
Further it is to be noted that for determining the real question in controversy between the parties Dr. Mangalam and Dr.R.Krishna Ram are necessary parties. So the complaint is bad for non-joinder of necessary
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parties. But it is also pertinent to note that on that ground alone a complaint cannot be dismissed.
In any view of the matter there is no deficiency in service on the part of the Op’s. As we have already mentioned it is a civil dispute and not maintainable before this Forum. To redress her grievances if any she can approach appropriate civil court.
In the result, the complaint is dismissed. In the circumstances of the case there is no order as to cost.
Dated this the 29th day of April ,2013
G. VASANTHAKUMARI
Adv.RAVI SUSHA
APPENDIX
Witness of the Complainant
PW1- Sri. Ayona
Documents of the Complainant
Ext.P1- Debenture Certificate
Ext.P2- Debenture Certificate
Ext.P3- Subordinate debt certificate
Ext.P4-Subordinate Debt Certificate dated 01/03/2005
Ext.P5 & Ext.P6-Letter dated 18/04/2011
Ext.P7- Acknowledgement Card
Ext.P8- Book
Ext.P9-Book
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Documents of the Opposite party
Ext.D1- Letter dated 25.01.2007
Ext.D2- Letter dated 24/05/10
