O R D E R

(Delivered by Hon’ble President (FAC) Smt N. Tripura Sundari)

This complaint is filed under Section 12 of the Consumer Protection Act, 1986.

1.         The averments of the complaint are in brief:

            The complainants jointly deposited Rs.90,000/- on 12.8.2010.  The interest accrued on the deposit was adjusted towards monthly subscription of the chit on completion of chit in March, 2013, the opposite parties’ company was closed due to heavy loses and failed to pay interest.  Hence the complainants filed this complaint praying the Forum to direct the opposite parties to pay deposit amount of Rs.90,000/- with interest at 12% per annum from April, 2013, to pay compensation of Rs.9,000/-and to pay costs.

2.         After registering the complaint summons were issued to opposite parties and they were returned unserved and again the summons were given through paper publication and the opposite parties remained absent. 

3.         On behalf of the complainants the 1^st complainant filed his affidavit and got marked Ex.A.1 to Ex.A.14.

4.         Heard and perused.

5.         Now the points that arise for consideration in this complaint are;

            1. Whether there is any deficiency in service on the part of the opposite parties

    towards the complainants in not refunding the deposit amount with interest?

2. If so are the complainants entitled for any relief?

3. To what relief the complainants are entitled?

POINTS 1 AND 2:-

6.         On perusing the documents on hand the complainants deposited Rs.90,000/- with the opposite parties under Ex.A.1 dated 12.8.2010.  The interest accrued on the said deposit was adjusted towards monthly subscription to the chit of the complainants.  On completion of the said chit in March, 2013, the opposite parties failed to pay interest. The complainants came to know through paper publications Ex.A.2 to Ex.A.5 that the opposite parties closed their business due to heavy loss.  Then the complainants got issued a legal notice Ex.A.6 dated 25.8.2014 to the opposite parties demanding the opposite parties to pay deposit amount with interest within seven days from the date of receipt of notices if failing compliance they will compel to take appropriate civil and criminal actions against the opposite  parties.  The said notices returned unserved under Ex.A.7 and Ex.A.8.  The copies of postal acknowledgments of Registrar of Chits, Vijayawada, Reserve Bank of India, Hyderabad, Station House officer, Krishna Lanka, Vijayawada and Commissioner of Police, Vijayawada were received under Ex.A.9 to Ex.A.12.  The complainants came to know that (1) T.Bhargavi and (2) Senagala Venkateswaramma who were suffered by the opposite parties gave criminal complaints to the police authorities, the said police authorities enquired the same, arrested the opposite parties and submitted remand reports to the Hon’ble 2^nd Additional Chief Metropolitan Magistrate, Vijayawada under Ex.A.13 and Ex.A.14.  The opposite parties failed to pay either interest or deposit amount with interest from April, 2013 to the complainants.  Therefore we hold that there is deficiency in service on the apart of the opposite parties and they are liable to refund the deposit amount with interest to the complainants.  The complainants are entitled for the same.  Accordingly these points are answered.

POINT NO.3:-

7.         In the result, the complaint is allowed in part and the opposite  parties are directed to pay the deposit amount of Rs.90,000/- with interest at the rate of 9% per annum from 1.4.2013 to till realization and to pay costs of Rs.2,000/- to the complainants.  Time for compliance one month.  Rest of the claims of the complainants are dismissed.

            Dictated to the Stenographer K.Sivaram Prasad, transcribed by him, corrected by me and pronounced by us in the open Forum, this the 23^rd day of February, 2015.

PRESIDENT(FAC)                                                                           MEMBER

Appendix of evidence

Witnesses examined

For the complainants:                                                             For the opposite parties:-

P.W.1 K.Vimala Devi                                                      None. 

1^st Complainant,                                                                       

            (by affidavit)                                                             

                                                        Documents marked

On behalf of the complainants:

Ex.A.1            12.08.2010    Photocopy of receipt issued by the opposite party.

Ex.A.2                .    .              Photocopy of paper clipping.

Ex.A.3                .    .              Photocopy of paper clipping.

Ex.A.4                .    .              Photocopy of paper clipping.

Ex.A.5                .    .              Photocopy of paper clipping.

Ex.A.6            25.08.2014    Office copy of legal notice.

Ex.A.7                .    .              Photocopy of returned cover.

Ex.A.8                .    .              Photocopy of returned cover.

Ex.A.9                .    .              Photocopy of postal acknowledgement.

Ex.A.10              .    .              Photocopy of postal acknowledgement.

Ex.A.11              .    .              Photocopy of postal acknowledgement.

Ex.A.12              .    .              Photocopy of postal acknowledgement.

Ex.A.13          30.06.2014    Photocopy of FIR along with three remand reports.

Ex.A.14          01.07.2014    Photocopy of FIR along with three remand reports.

On behalf of the opposite parties:

                        Nil.     

                                                                                                                         PRESIDENT(FAC)