By Smt. Saji Mathew, Member:-
The gist of the case is as follows:- The complainant and opposite party entered into an agreement for sale of tea leaves. As per a clause of the agreement, the complainant was requested to make a fixed deposit with the opposite party for a sum of Rs.5,00,000/-. The deposit was made on 21.07.2009. The deposit is matured on 31.07.2010. The assured rate of interest was 5%.
2. On maturity of the deposit, the opposite party has not paid the deposited amount even after repeated demands by the complainant. This is deficiency in service on the side of the opposite party and caused much financial loss and hardship to the complainant. Therefore, the complainant prays for an order directing the opposite parties to pay an amount of Rs.5,00,000/- to the complainant with 5% interest for the period of deposit and with interest of 25% after the period of deposit. The complainant also prays for a cost and compensation of Rs.45,000/-.
3. The complainant appeared and filed their version. The opposite party admitted that there was an agreement between opposite party and complainant. As per that agreement, the complainant had deposited Rs.5,00,000/- with opposite party. But the factories suggested by the complainant had returned the tea leaves sent to them by the opposite party saying that the product was substandard. The tea leaves were became useless and the complainant was made to pay the price to the farmers. Hence, the opposite party had incurred huge financial loss. The complainant had not paid the price of leaves purchased by him which would amount to Rs.12,000/-.
4. As per the audit made by Kerala State Co-operative department, the opposite party is functioning at a loss of Rs.36,80,872.76/-. The opposite party is functioning at a rented building and even the monthly rent is due. Huge amount is due to be paid to the farmers and depositors. Hence the opposite party is not in a position to return the deposit to the complainant.
5. The complainant filed affidavit and documents were marked as Exts.A1 to Exts.A6. No evidence was adduced by the opposite party.
6. The matters to be decided are:-
1. Whether there is any deficiency in service on the side of the opposite party?.
2. Whether the complainant is entitled for any relief?.
7. Point No.1:- The Ext.A1 is the receipt for the deposit of Rs.5,00,000/- made by the complainant with the opposite party. The opposite party admits the deposit and admit the fact that the amount is not returned to the complainant. Though the opposite party content that Rs.12,000/- is
due from the complainant to opposite party, no evidence is brought before this Forum. Ext.A1 shows that the deposit is made for one year and the amount is not given back till this date. A mere statement that the opposite party is undergoing financial difficulties cannot absolve the opposite party from its liabilities. Hence point No.1 is found against the opposite party.
8. Point No.2:- The complainant is entitled to get the deposited amount with reasonable interest, cost and compensation.
Therefore, the complaint is partly allowed and the opposite party is directed to give the complainant an amount of Rs.5,00,000/- (Rupees Five Lakh Only) with 5% interest from the date of deposit till payment. The opposite party is also directed to give cost and compensation Rs.1,000/- (Rupees One Thousand Only) to the complainant. This order is to be complied within 30 days from the receipt of this order.
Pronounced in Open Forum on this the day of 25th October 2011.
Date of filing:11.07.2011.
