DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, PALAKKAD

Dated this the   8^th day of April, 2022

Present    :  Sri.Vinay Menon V.,  President

                :  Smt.Vidya A., Member

    :  Sri.Krishnankutty N.K., Member                          Date of Filing: 18/08/2020 

     CC/88/2020

John Thomas,

S/o.Thomas,

Parayilveedu,Vidya Nagar,
Kallekulangara PO, Palakkad – 678 009

 (By Adv.Benny Job)                                                                -                       Complainant

                                                                                      Vs

1.The Secretary,

    The  Palakkad Rural Co-operative Society Ltd.,

    Near Stadium Bus stand

    Kunnathurmedu, Palakkad

2. President

    The  Palakkad Rural Co-operative Society Ltd.,

    Near Stadium Bus stand

    Kunnathurmedu, Palakkad

3.The Cashier

    The  Palakkad Rural Co-operative Society Ltd.,

    Near Stadium Bus stand

    Kunnathurmedu, Palakkad                                                   -                      Opposite parties

   (By Adv.U.Suresh)

O R D E R

By Sri. Vinay Menon V.,  President

1. Pleadings are undisputed.
2. The complainant deposited an amount of Rs.2 lakhs with the opposite party as fixed deposit for a period of one year from 31/10/2018. The FDR bearing       No.1/734/2018-19 is produced. When the complainant sought for maturity amount the opposite parties did not pay  the maturity amount. Aggrieved there by this complaint is filed.  Opposite parties entered appearance and filed version stating that the maturity amount would be returned as and when it attains maturity.
3. The opposite party has admitted the complaint pleadings even though they have formally objected to the complaint pleadings.  Deposit of the amount and the period of maturity are all admitted. Hence, this Commission took up the matter for orders based on admissions and merits.
4. The FD period covered a one year period from 31/10/2018 till 31/10/2019. This complaint was filed on 18/8/2020.  Version was filed on  8/1/2021.   Till the date this complaint  was taken up for orders, i.e. 24/3/2022, the opposite party had not handed over the principal or the interest accrued thereof. 
5. This tantamount to a prima facie deficiency in service as well as an unfair trade practice. The opposite parties have resorted to gross unjust enrichment at the expense of the complainant. Therefore, we allow the complaint with the following directions.

1. The opposite parties shall return the principal amount of Rs.2 lakhs with interest @8.5% per annum from 31/10/2018 till the date of repayment.
2. The complainant is entitled to a compensation of Rs.15,000/- (Rupees Fifteen thousand only)
3. The complainant is also entitled to a cost of Rs.10,000/- (Rupees Ten thousand only)
4. This order shall be complied within a period of 45 days from the date of receipt of this order.
5. In the event the payments as stated in 1 to 3 are not effected within 45 days, the complainant is also entitled to a solatium of Rs.100/- per month or part thereof till the date of payment of amounts in 1 to 3.
6. This order is to be complied by the Society and not by the opposite parties in their personal capacity.

            Pronounced in  open court on this the  8^th day of April, 2022.

 Sd/-

                                                                              Vinay Menon V.

                                                 President

     Sd/-

Vidya A.

                    Member      

Sd/-

                                                                                       Krishnankutty N.K.

                                                                                             Member