COMPLAINTS FILED ON:17.03.2012
DISPOSED ON:30.05.2012.
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE (URBAN)
30th DAY OF MAY-2012
PRESENT:- SRI. B.S. REDDY PRESIDENT
SRI.A.MUNIYAPPA MEMBER
COMPLAINT Nos.591/2012
Complainant | D.T.Thimmappa Gowda S/o Late Teekappa Gowda, Age:55 years, Occ:Working at K.P.C.Ltd., Residing at Amagal Village, Masthi Katte (P), Hosanagara (Tq), Shimoga District. Adv:Sri.Prakash C. V/s |
OPPOSITE PARTY | The Managing Director, Guru Teak Investments Pvt.Ltd., Head Office No.93, LIC Colony, Basaveshwara Nagara Main Road, Shankar Mutt Circle, Bangalore-560 079. Adv:Sri.Shimoga Nagaraj H.H. |
O R D E R
SRI. B.S.REDDY, PRESIDENT
The complainant filed this complaint Under Section-12 of the Consumer Protection Act, 1986 seeking direction against the Opposite Party (herein after called as O.P) to pay sum of Rs.75,000/- with compensation of Rs.25,000/- along with interest at 18% p.a. and an amount of Rs.20,000/- towards traveling charges on the allegations of deficiency in service.
2. The complainant also filed I.A Under Section-24A of the Consumer Protection Act 1986 to condone the delay in filing the complaint.
3. OP though appeared through his counsel, but not filed version.
4. In order to substantiate complaint averments, complainant filed affidavit evidence.
5. Arguments on both sides heard.
6. We have gone through the complaint averments, the documents produced and affidavit evidence of the complainant. On the basis of these records it becomes clear that the complainant has invested Rs.25,000/- in the OP. OP has executed two Teak Bonds one for Rs.15,000/- and another for Rs.10,000/- on 11.09.2001. OP has also issued the receipts. Both the bonds issued by OP have been matured on 10.03.2009. As per the terms and conditions of the above said Teak Bonds complainant had approached the OP for refund of the matured amount of Rs.75,000/-, OP assured to pay the same. At the time of executing the said two Teak bonds OP has issued two post dated cheques dt.11.03.2009 one for Rs.45,000/- and another for Rs.30,000/- towards payment of matured amount. The complainant presented both cheques but the cheques were dishonoured as “INSUFFICIENT FUNDS”. The complainant filed Criminal complaint against the OP Under Section-138 of N.I.Act before the Civil Judge (Jr.Dn.) and J.M.F.C. at Hosanagara Taluk, the same is pending in CC.No.397/2009. Thus it becomes clear that the cheques issued towards payment of the matured amount being dishonoured and the criminal complaint filed against the OP is pending. Pendency of the Criminal complaint Under Section-138 of N.I.Act is no bar for recovery of the amount in the proceedings before the Consumer Forum. The act of OP in not paying the matured amount amounts to deficiency in service. The cause of action has arisen on 10.03.2009 when the Teak Bonds were matured and also on 22.02.2012 when the legal notice is duly served on the OP. The very fact of OP not filing version leads to draw inference that OP is admitting the claim. Under these circumstances, we are of the view that the complainant is entitled for refund of the amount with interest at 12% p.a. from 11.03.2009 till the date of realization along with litigation cost of Rs.2,000/- Accordingly, we proceed to pass the following:
O R D E R
The complaint filed by the complainant is allowed in part.
Op is directed to pay an amount of Rs.75,000/- with interest at 12% p.a. from 11.03.2009, till the date of realization and pay litigation cost of Rs.2,000/- to the complainant.
This order is to be complied within four weeks from the date of its communication.
Send copy of this order to both the parties free of costs.
(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 30th day of MAY-2012.)
MEMBER PRESIDENT
Cs.
