CC Filed on 05.01.2011
Disposed on 04.06.2011
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, KOLAR.
Dated: 04th day of June 2011
PRESENT:
Sri. G.V.HEGDE, President.
Sri. T.NAGARAJA, Member.
Smt. K.G.SHANTALA, Member.
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Consumer Complaint No. 06/2011
Between:
Sri. V. Venkatesh, S/o. Venkataramanappa, Aged about 56 years, Working as S.D.A., District Industries Centre, D.C. Office Compound, Kolar. (By Advocate Sri. B.N. Vasudeva Murthy & others) V/S The Secretary, BEML Employees Credit Co-operative Society Limited, Maharaj Road, Robertsonpet, K.G.F – 563 122, Kolar District. | ….Complainant ….Opposite Party |
ORDERS
This is a complaint filed under section 12 of the Consumer Protection Act, 1986 praying for a direction against the opposite party to refund the deposit of Rs.30,000/- with interest at 10.25% p.a. from March 2009 and to pay compensation of Rs.5,000/- towards mental agony with costs, etc.,
2. The material facts of complainant’s case may be stated as follows:
That the OP-the BEML Employees Credit Co-operative Society Limited, K.G.F represented by its Secretary, is a society registered under the Karnataka Co-operative Societies Act 1959 and the complainant is a member/associate member of the said society. The complainant deposited Rs.30,000/- on 15.12.2007 for a period of 24 months and that the interest was payable every month at the rate of 10.25% p.a. and that after the maturity period the fixed deposit amount should be repaid and that in case of premature payment 2% interest could be reduced. It is alleged that the OP paid interest on the F.D. upto February 2009 and it did not pay the interest from March 2009. Further that the OP also failed to repay the fixed deposit amount after its maturity period which fell on 14.12.2009. It is alleged that the complainant made several requests and also got issued legal notice dated 25.11.2010 and inspite of it the OP failed to repay the fixed deposit amount and interest that became due. Hence the present complaint is filed on 05.01.2011.
3. Notice sent to OP was served and Sri. P.R. Advocate filed vakalath for OP. Inspite of granting sufficient opportunity the version of OP is not filed. The complainant filed affidavit in support of the allegations made in the complaint.
4. We heard the Learned Counsel for complainant and perused the records. There are similar other cases against the OP-Society for recovery of the deposits. In majority of cases, orders have been passed directing the OP-Society to pay the deposits with future interest at 7% p.a. subsequent to the agreed period of deposits. We think the same order may be passed in this case also. The deposit matured on 14.12.2009. The agreed rate of interest was 10.25% p.a. The interest was paid upto February 2009 at the agreed rate. Hence interest may be ordered to be paid at 10.25% p.a. from March 2009 to 14.12.2009 the date of maturity. For further period the interest may be awarded at 7% p.a. As interest is awarded, we think separate compensation need not be awarded for delay in payment of deposit and the consequential mental agony. Hence we pass the following:
O R D E R
The complaint is allowed with costs of Rs.1,000/-. The OP-Society shall repay Rs.30,000/- (rupees thirty thousand only) deposit to complainant with interest at 10.25% p.a. from 01.03.2009 till 14.12.2009 and at 7% p.a. from 15.12.2009 till the date of payment less the interest already paid if any for the said period. The amount due under the award shall be paid within 6 weeks from the date of order.
Dictated to the Stenographer, corrected and pronounced in open Forum this the 04th day of June 2011.
MEMBER MEMBER PRESIDENT
