Date of Complaint : 06/07/2015

                                  Date of Disposal: 26/11/2015

IN THE KODAGU DISTRICT CONSUMER DISPUTES REDRESSAL FORUM MADIKERI

 JUDGEMENT BY SRI. V.A. PATIL, PRESIDENT

O R D E R

1. This complaint is filed by the complainant under section 12 of Consumer Protection Act 1986 against the opponent for deficiency of service and prays for directing the opponent to pay Rs.3,000/- being the maturity value of the teak bond along with interest anda sum of Rs.5,000/-towards loss, inconvenience and damages sustained towards mental agonyand also award Rs.5,000/- being the cost of the proceedings.

    

2. The brief facts of the complaint are, the complainant had invested a sum of Rs.3,000/-.The OP issued a bond bearing the receipt No.340518, dated 19/06/2004 which will be matured on 19/06/2016.As the complainant was in need of money the complainant asked for the refund of the deposited amount.As per the request of the OP, the complainant had returned all the original papers and the OP had issued the acknowledgement on 21/06/2013. Inspite of many oral requests the opponent neither paid the amount nor replied.Hence, the complainant approached this Forum seeking for the remedy.

    

3. After admission of the complaint, the notice was issued to the opponent by RPAD.But notice was returned back with postal endorsement “NOT CLAIMED”.Hence, the opponent has been placed exparte on 21/08/2015 and posted the case for filing the affidavit of the complainant.There upon the complainant has filed her affidavit in lieu of oral evidence and has relied upon documents in support of her case.The arguments of the complainant was heard and then posted the case for orders.

    

4. In view of the facts and circumstances of the case and hearing the arguments submitted by the complainant the following points that would arise for our consideration are as follows;

    

5. Whether the complainant proves deficiency of service against the opponent and the complainant is entitled for the reliefs sought for in the complaint?

    

6. To what order the party is entitled ?

7. Our findings on the aforesaid points are as follows;

           Point No.1:- Partly in the affirmative

           Point No.2:- As per order.

    

   R E A S O N S

8. Point No.1 :- The complainant in her complaint and, affidavit has stated that the complainant had purchased Guru Teak Bond for Rs.3,000/- bearing receipt No.340518, Application No.N-21351, dated 19/06/2004 from the opponent. The complainant states that the opponent had not repaid the amount and the assured interest on the said amount, which shows deficiency in service on the part of opponent.

    

9. The complainant has produced the Acknowledgement of the Teak Bond bearing application No. N-21351, and receipt No.340518, dated 21/06/2013 for Rs.3,000/-which clearly shows that the opponent had received a totalsum of Rs.3,000/- from the complainant.The documentary evidence placed on record fully supports the case of the complainant that she had invested a sum of Rs.3,000/- in the opponent company on 19/06/2004.The notice was served to the opponent was returned and hence the opponent placed exparte.The evidence adduced by the complainant remained unchallenged.There is nothing on record to disbelieve the evidence of the complainant which is supported by documents.

    

10. In view of the afore said reasons, we are of the opinion, that the complainant has established her case as made out in the complaint by placing sufficient materials on record.The complainant is entitled to receive the amount of Rs.3,000/- along with 9% interest from the date of joining i.e., from 19/06/2004 till the date of realization and also Rs.2,000/- towards mental agony and Rs.2,000/-towards the cost of this proceedings from the opponent.Accordingly we answer point no.1 partly in the affirmative.

     

11. Point No.2:- In view of our findings, we proceed to pass the following;

     

    O R D E R

          The complaint filed under section 12 of the Consumer Protection Act by Smt. N.M. Kavery against the Managing Director, Guru Teak Investments Pvt.Ltd., is hereby partly allowed. 

12. The opponent is directed to pay the sum of Rs.3,000/- (Rupees three thousand only) to the complainant along with interest at the rate of 9% from the date ofinvestment i.e., on 19/06/2004, till the date of full realization.

13. The opponent is also liable to pay a sum of Rs.2,000/- (Rupees two thousand only) towards mental agony and a sum of Rs.2,000/-(Rupees two thousand only) towards the cost of this proceedings to the complainant within one month from the date of this order, failing which the complainant is at liberty to recover the said total amount of Rs.4,000/- (Rupees Four thousand only) with interest at the rate of 10% per annum from the date of this order till realization of the entire amount.

14. If this order is violated the complainant is also at liberty to file complaint against the opponent for the offences punishable under section 27 of Consumer Protection Act, which is punishable with imprisonment as well as fine.

15. Issue certified copies of this order at free of cost to both the parties.

(Dictated to the Stenographer and got it transcribed and corrected and pronounced in the open Forum on this 26^th day of November 2015)

                        (LATHA.M.S.)                    (V.A. PATIL)                 

                           MEMBER                        PRESIDENT         

ANNEXURE