D.o.F:24/12/11

D.o.O:19/7/12

 IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD

                             CC.No.359 /2011

                        Dated this, the 19th  day of July 2012

PRESENT

SRI.K.T.SIDHIQ                                 : PRESIDENT

SMT.RAMADEVI.P                       : MEMBER   

SMT.BEENA.K.G                               : MEMBER

Mr.Yajnheswaran, S/o Devaki Amma,

Bannur House, Madhur,Kasaragod.

Now R/at Kizhakke Neelamana,                          : Complainant

Karimkuzhi, Kankol PO, Payyanur, Kannur Dt.

(  Adv.P.V.Jayaraj,Kasaragod)

1. The Kasaragod Co-operative Marketing &

Processing Society Ltd No.FF-104,

Vidyanagar Po, Kasaragod-671123

Represented by its Secretary.

(Adv.M.Balagopal,Kasaragod)                                : Opposite parties

2. The President,

The Kasaragod Co-operative Marketing &

Processing Society Ltd No.FF-104,

Vidyanagar Po, Kasaragod-671123

( Exparte).

ORDER

SRI.K.T.SIDHIQ         : PRESIDENT

      Pared of unnecessaries the case of complainant is that the opposite parties are not redeeming the amount with interest that he deposited as fixed deposit even after it’s the maturity date. As a result he suffered.  According to him he deposited `1,00,000/- for 3 years and it was matured  on 16/11/2010 and the matured value was ` 109750/-.  But on request of the opposite parties complainant renewed the Fixed deposit for a further period of 13 months from 16/11/2010 maturing on 15/11/2011 @ 9.5% per annum.  But even after the maturity date the opposite party did not repay the  money with the interest.  As a result complainant could not fulfill a land deed and he had to obtain money from 3^rd parties as  handloan.  Hence the complaint

2.  In response to the notice issued  by registered post  opposite party No.1 appeared and filed version.  But notice to 2^nd opposite party neither returned unserved nor the  acknowledgment received back.  Hence  notice to 2^nd opposite party presumed to have served in terms of Sec.28(3) of Consumer Protection Act and the  2^nd opposite party is set exparte.

3.  According to  1^st opposite party the complainant had deposited a sum of `1,00,000/- with them @ interest 9.5% per annum.  But  the Ist opposite party is  in great financial difficulty.  But they have sufficient assets by way of landed properties and they are approached the government for permission to sell a portion of the land and the govt. had sanctioned the request of 1st opposite party and they would clear all the liabilities at the earliest.  Opposite party also had a contention that complaint is not maintainable in view of Sec.69 of co-operative Societies Act

4.  Complainant filed a proof affidavit in lieu of examination –in –chief and Exts.A1 to A3 marked.  He is cross examined by the learned counsel for opposite party  Sri. M  Balagopal.  No evidence adduced by Ist opposite party.  Both sides heard.  Documents perused.

5.  Ext.A1 is the copy of the Deposit receipt issued by Ist opposite party to the  complainant.  It shows that complainant had deposited `109750/-  on 26/11/2010 for a period of 13 months from 16/11/2010 to 15/12/2011 at the rate of 9.5% per annum.  Exts.A2&A3 are  the copies of title deeds to prove the land transaction of the complainant.

6.  The non  repayment of the fixed deposit even after the maturity date is a deficiency in service on the part of opposite parties.

7.   The Ist opposite party had taken another contention that the complaint is not maintainable in view of Sec.69 of the Kerala Co-operative Societies Act .  The said contention is also not sustainable in view of the judgment of the Hon’ble Supreme Court in the case of  Secretary, Thirumurugan Co-operative Agricultural Credit Society vs. M.Lalitha reported in (2004) 1 SCC 305.  In that case the Hon’ble Apex Court has held  that in a dispute between  member and co-operative Society, the arbitration clause did not   have the effect of ousting the jurisdiction of the Consumer Forum.

      Therefore the complaint is allowed and opposite parties are directed to repay a sum of `109750/- with interest @9.5% per annum from 16/12/2010 within 2 months from  16/12/2010, the date of receipt of copy of the order with a cost of `3000/-.  Failing which the complainant will be entitled to get  an enhanced interest @15% from today till payment with the cost aforesaid.

Exts:

A1- Copy of F.D.Receipt

A2&A3- Copy of title deeds

PW1- Yajnheswaran-complainant

Sd/                                                               Sd/                                             Sd/

MEMBER                                            MEMBER                                PRESIDENT

eva                                                               /Forwarded by Order/

                                                              SENIOR SUPERINTENDENT