Date of Filing : 14.03.2012
Date of Order : 16.06.2012
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, KOLAR
Dated 16th JUNE 2012
PRESENT
Sri. H.V. RAMACHANDRA RAO, B.Sc., BL, ……. PRESIDENT
Sri. T.NAGARAJA, B.Sc., LLB. …….. MEMBER
Smt. K.G.SHANTALA …….. MEMBER
CC No. 44 / 2012
Mr. Jeevanandam,
S/o. Amavasayai, Aged 56 years,
R/at: No. 149, Kuvempu Nagar, D.K. Halli Post,
Bangarpet.
(By Sri. Sama Rangappa, Adv.) ……. Complainant
V/s.
1. The Secretary,
BEML Workers Unity Forum Credit
Co-operative Society Ltd., BEML Nagar,
KGF – 563 115.
2. The President,
BEML Workers Unity Forum Credit
Co-operative Society Ltd., BEML Nagar,
KGF – 563 115.
(By A. Lakshmi Narayana, Adv. Adv.) …… Opposite Parties
ORDER
By Sri. H.V. RAMACHANDRA RAO, PRESIDENT
The brief antecedents that led to the filing of the complaint u/s. 12 of the Consumer Protection Act, seeking direction to OPs to pay Rs.4,00,000/- are necessary:-
Complainant had deposited Rs.50,000/- on 22.01.2004, Rs.1,50,000/- on 24.01.2004 & Rs.1,00,000/- on 28.01.2004 with the OPs in F.D. which carries interest @ 10% P.A. Ops have not paid the amount even after maturity and they were postponing for the payment of principal amount on one pretext or the other. When the Complainant had to celebrate his daughters’ marriage, he issued notice to the OP on 21.02.2012. In spite of that Ops have not paid the amount. Hence, the Complaint seeking refund of the amount of F.D. and damages of Rs.1,00,000/-.
2. In brief the version of OPs are:-
Complainant is one of the founder members of the OPs. Depositing of Rs.3,00,000/- with the OPs is admitted. Ops are paying the interest regularly and up-to-date interest is paid. Ops are in difficulties and hence they could not pay the amount.
3. Parties have filed their respective affidavits and documents. Arguments were heard.
4. Upon the contention actually urged at the hearing matter in controversy revolves around on the following
POINTS
(A) Whether the Ops are entitled to pay the amount in installments to the Complainant ?
(B) What order ?
5. Our answers for the above points are as under:
(A) Positive
(B) As per detailed order for the following reasons
REASONS
6. Pleadings of the parties are summarized supra and the same be read herein again.
7. Reading the pleadings in conjunction with the affidavits & documents on record, it is an admitted fact that the Complainant had deposited Rs.50,000/- on 22.01.2004 under CCFS No. 2437, Rs.1,50,000/- on 24.01.2004 under CCFS No. 2438 & Rs.1,00,000/- on 28.01.2004 under CCFS No. 2439 which carries certain interest. It is also established that Ops were paying the interest accrued on the FDs at the rate of Rs.2,500/- per month from 01.09.2004 to 01.05.2012 and the said amount has been received by the Complainant. That means, even after filing of the Complaint Ops have paid the interest on those FDs, but they have not paid the principal amount.
8. It is also an admitted fact that the Complainant was in dire need of money because of celebration of his daughters’ marriage and hence he issued notice to the OP on 21.02.2012. But, Ops have sent back the notices and have not paid the principal amount. Receiving the amount in FD and not paying the amount on its maturity is nothing but deficiency in service.
9. During the course of arguments, the Counsel for the Ops submitted that Ops are in difficulties and they may be granted installments in paying the amount. The Learned Counsel for the Complainant submitted that the installments question may be adjudicated in the executing proceedings. We have to consider whether installment has to be granted and what would be the rate of installment and what are the terms of the installment. In this case, OP is a Society and it has to pay other dues also. It also has to pay the amount to the Complainant. The Counsel for the Ops submitted that Rs.20,000/- per month may be ordered to be paid as installment. Here Complainant has invested his money since 8 years and Ops are keeping the amount paying meager interest. If the Complainant had invested the amount elsewhere, he could have earned more money. Looking to the circumstances of the OPs, if we order OPs to pay the amount of installment of Rs.50,000/- per month with single deposit default clause and grant rate of interest that is being ordered in every case by this Forum @ 12% P.A., it will meet the ends of justice. Hence, we hold the above points accordingly and pass the following order:
ORDER
1. Complaint is allowed in part.
2. Ops are directed to pay Rs.3,00,000/- to the Complainant with interest @ 12% P.A. from the date of the Complaint until payment.
3. Ops shall pay the said amount in installments at Rs.50,000/- per month with single deposit default clause commencing from 16.07.2012.
4. Payment shall be made as under:
(a) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.07.2012 to the Complainant by DD through RPAD.
(b) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.08.2012 to the Complainant by DD through RPAD.
(c) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.09.2012 to the Complainant by DD through RPAD.
(d) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.10.2012 to the Complainant by DD through RPAD.
(e) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.11.2012 to the Complainant by DD through RPAD.
(f) Ops shall send Rs.50,000/- with interest @ 12% P.A. from the date of this Complaint until payment on or before 16.12.2012 to the Complainant by DD through RPAD.
5. Ops are directed to pay Rs.2,000/- as costs of this litigation to the Complainant.
6. Ops shall submit compliance report with necessary documents as and when the installments/costs are paid.
7. Send copy of this Order to the parties free of costs.
8. Return extra sets to the parties concerned under the Regulation 20(3) of the Consumer Protection Regulations 2005.
(Dictated to the Stenographer, got it transcribed and corrected and pronounced in the open Forum on this the 16th day of June 2012)
T. NAGARAJA K.G.SHANTALA H.V.RAMACHANDRA RAO
Member Member President
SSS
