BEFORE THE  DIST. CONSUMERS DISPUTES REDRESSAL FORUM;  DHARWAD.

DATE:   31^st December 2015      

PRESENT:

1) Shri B.H.Shreeharsha       : President

2) Smt.M.Vijayalaxmi             : Member 

Complaint No.: 299/2015    

Complainant/s:                       Gurunath s/o. Irappa Pattankodi, Age: 71 years, Occ: Retired Personal, R/o.H.No.27, Mangalwar Peth, Near Potnis Galli, Dharwad.

(By Sri.N.M.Badiger, Adv.)

v/s

Respondent/s:             1)         The President, The Karnataka Vishwabramha Sahakari Pattin  Sangha Niyamita, Raviwar Peth, Dharwad

   2)          The Branch Manager, The Karnataka Vishwabrahma Sahakari Pattin Sangha Niyamita, Raviwar Peth, Dharwad

 (Exparte)

O R D E R

By: Shri. B.H.Shreeharsha : President.

1.     The complainant has filed this complaint claiming for a direction to the respondents to refund in total Rs.1.20 lakhs with respect to the FDR receipts 9129 & 1613 with interest @18% P.A., to pay Rs.1 lakh as compensation for mental agony and to order for payment of Rs.10000/- towards cost of the proceedings and to grant such other reliefs.

Brief facts of the case are as under:

2.     The case of the complainant is that, the complainant filed the instant complainant praying for refund of the amount by the respondent invested by him in the accounts as per the Table below:

 3.    While depositing the amount the respondent had assured to pay monthly interest on the deposits but, not paid as assured nor refund the amount even after several approaches made. Hence, complainant subjected to mental agony. Aggrieved by the conduct of the respondent, complainant got issued legal notice on 17.08.2015 calling upon the respondent to pay the amount but, the notice sent returned unserved as not claimed. Hence, complainant filed the instant complaint praying for the relief as sought.

4.     The notice sent by this Forum against the respondents returned unserved with postal endorsement “not claimed”. Based on the postal endorsement considering deemed service the respondents were placed exparte and exparte proceedings initiated.

5.     On the said pleadings the following points have arisen for consideration:

1. Whether complainant has proved that there was deficiency in service on the part of respondents ?
2. Whether complainant is entitled to the relief as claimed ?
3. To what relief the complainant is entitled ?

The complainant filed sworn to evidence affidavit, relied on documents.  Heard. Perused the records.

Finding on points is as under.

1. Affirmatively 
2. Accordingly  
3.  As per order

Reasons

Points 1 and 2

6.     Since respondents placed exparte contents of the complaint averments stood unimpeached.  Since the facts have been revealed in detail which requires no repetition.

7.     On perusal of Ex.C1 and C2 FD receipts disclose that the complainant being a senior citizen has invested the amount as per the FDRs Ex.C1 and 2. Further perusal of Ex.C1 and 2 the FDRs will be mature on 28.10.2017 and 15.10.2016 respectively. As rightly pointed out since the respondents remained absent the contention of the complainant remained unimpeached. The facts respondent has agreed to pay monthly interest not paid as such the complainant is entitled for the entire amount with interest as per Ex.C1 and C2 has remained undisputed. As discussed the FDRs not matured but are yet to be mature on 28.10.2017 & 15.10.2016 respectively. The grievance of the complainant is that the complainant is in need of amount hence he claimed pre maturity amount. Accordingly the respondent ought to have paid the amount by deducting the amount in accordance with their regulations but not paid which amounts to deficiency in service. On perusal of Ex.C1 and C2 there is no endorsement with regard to pre closure deductions. Under those circumstances complainant is entitled for premature refund of the amount as per the bank norms and regulations. Hence, the complainant made out his case of deficiency in service by the respondents. Hence, complainant is entitled for refund of the matured amount and for compensation as claimed.

8.     In view of the above discussions we have arrived and proceed to held issue.1 and 2 in affirmatively and accordingly.

9.     Point.3: In view of the finding on points 1 and 2 proceeded to pass the following 

O R D E R

        Complaint is allowed in part. The respondent 1 and 2 jointly and severally directed to refund the amount under FD Receipts with future interest @9.5% till realization along with Rs.1,000/- towards compensation and Rs.1,000/- towards cost of the proceedings within 30 days from the date of receipt of copy of this order.  

(Dictated to steno, transcribed by him and edited by us and pronounced in the open Forum on this day on 31^st day of December 2015)

(Smt.M.Vijayalaxmi)                                      (Sri.B.H.Shreeharsha)

Member                                                           President

Dist.Consumer Forum                                    Dist.Consumer Forum

MSR