IN THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

                                         C.C.No. 132/2022

PRESENT

SMT. S.K.SREELA, B.A.L, LL.B, PRESIDENT

      SMT. S.SANDHYA   RANI. BSC, LL.B, MEMBER

  SRI.  STANLY HAROLD, B.A.LL.B, MEMBER

ORDER DATED:   26-07-2023

BETWEEN

P.Rameshan,

Anchappurayil,

Saravana nagar 300,

Eravipuram, Kollam 691011.                                      :         Complainant

(By Adv.P.Sajeev Babu)

AND

1. Thomas Daniel,

Managing Partner,

My Popular Marine Products LLP&

Popular Traders,

Regd.Office Popular Towers,

Vakayar, Pathanamthitta 689 698.

2. S.Peter,

Branch Manager of My Popular Marine Products LLP

& Popular Traders,

Kannanlloor,

Residing at

Shalom, Eravipuram P.O., Kollam 691011.                :      Opposite Parties

ORDER

Sri.Stanly Harold, B.A.LLB, Member

            This is a case based on a complaint filed U/s 35 of the Consumer Protection Act 2019.

The averments in the complaint in short are as follows:-

The 1^st opposite party is the Managing Partner of a financial institution with name and  style My Popular Marine Products LLP and Popular Traders, registered under the Indian Companies Act 2013.  The 2^nd opposite party is the Manager of the 1^st opposite party Kannanalloor Branch

The 1^st opposite party advertised in the newspaper dailies and other publications that the 1^st opposite party is offering interest @ 12% per annum to those who made deposits in the 1^st opposite party as fixed deposit for any particular period with the liberty to withdraw the accrued interest in each and every month or annually or on the maturity period, by the depositors.  Thereafter the 2^nd opposite party also personally approached the complainant and made believe that if the complainant deposits a sum of money as fixed deposit for a particular period, the financial institution would pay interest @ 12% per annum as assured above.

As attracted by the advertisement made by the 1^st opposite party in the newspaper dailies and other publications and also believing the words of 2^nd opposite party, on 03.06.2019 the complainant deposited Rs.2,50,000/- before the 2^nd opposite party as fixed deposit for a period of 24 months and in turn the 1^st opposite party signed and issued a fixed deposit receipt No.AAJ-1621-0004264, A/c No.1029991900651 of My Popular Marine Products LLP dated 03.06.2019.  Thereafter on 23.09.2019 the complainant deposited Rs.1,50,000/- before the 2^nd opposite party as fixed deposit for a period of 24 months and in turn the 1^st opposite party signed and issued a fixed deposit receipt No.AAJ-1621-0006484, A/c No.1029991902805 of My  Popular Marine Products LLP and thereafter on 26.08.2019 the complainant deposited Rs.56,500/- before the 2^nd opposite party as fixed deposit for a period of 12 months and in turn the opposite parties signed and issued a fixed deposit with receipt No.0570246, A/c No.1020321900178 of Popular Traders.

Again on 27.07.2020 the complainant deposited Rs.1,50,000/- before the 2^nd opposite party as fixed deposit for a period of 12 months and in turn the opposite parties signed and issued a fixed deposit receipt No.0589627, A/c No.1020322000151 of Popular Traders.  In the said fixed deposit receipts the opposite parties agreed to pay interest @ 12% per annum allowing the complainant to withdraw the accrued interest along with the fixed deposit amount on the maturity dates shown in each and every fixed deposit receipts.  As soon as the complainant made the fixed deposits, the complainant became the consumers of the opposite parties.   The opposite parties paid the monthly interest @ 12% per annum to the complainant up to the month of August 2020 as per the terms and conditions agreed by the opposite parties at the time of receiving the fixed deposits.  But thereafter the opposite parties failed to pay the monthly interest to the complainant.  Thereupon the complainant made several demands to pay the arrears of interest along with the fixed deposit amount to the complainant, but in vain. The act of the opposite parties is a clear case of contractual violation, deficiency in service and also unfair trade practice on their part. Now it is seen that the opposite parties have purposefully closed their offices.

This is a case in which the complainant availed the service of the opposite parties for consideration but the opposite parties willfully, illegally and arbitrarily failed to provide the service to the complainant as agreed by them.  The opposite parties failed in their service as they guaranteed, so the above said act and conduct of the opposite parties are a clear case of deficiency in service towards the complainant and also a clear case of contractual violation and also unfair trade practice and the opposite parties illegally withholding the money of the complainant for their illegal enrichment and in the circumstances the complainant is compelled to file this complaint for getting reliefs prayed for.

Notice was issued to the opposite parties and they failed to appear before the Commission hence they were set exparte.  The complainant filed chief affidavit in lieu of chief examination and reiterated the averments in the complaint and got marked Ext.P1 to P7 documents.  Ext.P1 is the advertisement published by the opposite parties.  Ext.P2 is the certificate of contribution to LLP No.AAJ-1621 for Rs.2,50,000/- Ext.P3 is the certificate of contribution to LLP No.AAJ-1621 for Rs.1,50,000/-. Ext.P4 is the fixed deposit receipt No.0570246 A/c No.1020321900178 for Rs.56,500/- dated 24.08.2019.  Ext.P5 is the fixed deposit receipt No.0589627 A/c No.1020322000151 for Rs.1,50,000/- dated 27.07.2020.  Ext.P6 is the statement of accounts from the State Bank of India dated 02.07.2019.  Ext.P7 is the copy of the bank passbook.

Based on the uncontroverted testimony of the complainant and the supporting documents, Ext.P1 to P7, it can be concluded that the complainant has presented sufficient evidence to support their case and justify the relief they are seeking.

It is important to note that the opposite parties had acknowledged receiving the fixed deposit amount deposited through State Bank of India, Eravipuram branch, on different occasions, as evidenced by the documents provided. However, after specific dates ie; 03.06.2019, 23.09.2019, 24.08.2019 and 26.07.2020 the opposite parties failed to provide the complainant with agreed interest or return the principal amount.

The available materials on record indicate that the complainant made repeated requests to the opposite parties for the withdrawal of their deposits, but the opposite parties refused to comply by withholding both the interest and principal amount. This clear and deliberate withholding of funds by the opposite parties amounts to illegal enrichment and demonstrates a breach of their contractual obligations which indicates a deficiency in service and an unfair trade practice on their part.

This case revolves around the complainants engaging the services of the opposite parties in exchange for payment. However, the opposite parties deliberately, unlawfully, and arbitrarily failed to fulfill their obligations and provide the agreed-upon service to the complainant. The opposite parties explicitly agreed to promptly pay interest on the fixed deposit amount on a monthly basis, as well as repay the fixed deposit amount upon maturity or upon the complainants' request. Nevertheless, the opposite parties failed to honor their commitments, thereby demonstrating clear deficiencies in their service provision to the complainants. This behavior constitutes a violation of the terms of their agreement, as well as unfair trade practices. Furthermore, the opposite parties' refusal to return the complainants' funds represents an illegal act of withholding money for their own illicit enrichment. Such actions further support the complainant’s claims of contractual violation, deficiency in service, and unfair trade practices. Therefore, it is evident that the opposite parties' conduct in this case demonstrates clear instances of deficiency in service, contractual violation, and unfair trade practices. The complainant is justified in seeking redress for the damages and losses incurred as a result of the opposite parties' actions.

Therefore, based on the evidence presented, it can be concluded that the complainants have established their case and are entitled to the relief they are seeking.

 In the result we are of the view the complaint is only to be allowed in the interest of justice.  Therefore, the complainant is entitled to realize Rs.6,06,500/- together with interest @ 12% per annum and compensation of Rs.10,000/- and Rs.5,000/- towards costs of the proceedings from the date of the complaint till realization.

In the result complaint stands allowed in the following terms: -

1. The opposite parties 1 and 2 are directed to pay Rs.6,06,500/- with interest @ 12% per annum from the date of the order till realization.
2. The opposite parties 1 and 2 are further directed to pay Rs.10,000/- as compensation and Rs.5,000/- towards costs to the complainant.
3. The opposite parties 1 and 2 are directed to comply with the above directions within 45 days from the date of receipt of the order failing which the complainant can initiate execution proceedings.

Dictated to the Confidential Assistant  Smt. Minimol S. transcribed and typed by her corrected by me and pronounced in the  Open Commission this the 26^th  day of  July 2023.

Sd/-

STANLY HAROLD

MEMBER

Sd/-

S.K.SREELA

PRESIDENT

Sd/-

S.SANDHYA RANI

MEMBER

     Forwarded/by Order                                                                                                          

                Senior superintendent

INDEX

Witnesses Examined for the Complainant:-Nil

Documents marked for the  complainant

Ext.P1    : Advertisement published by the opposite parties

Ext.P2    : Certificate of contribution to LLP No.AAJ-1621 for Rs.2,50,000/-

Ext.P3    : Certificate of contribution to LLP No.AAJ-1621 for Rs.1,50,000/-

Ext.P4    : Fixed deposit receipt No.0570246 A/c No.1020321900178

                 for Rs.56,500/- dated 24.08.2019.

Ext.P5    : Fixed deposit receipt No.0589627 A/c No.1020322000151

                 for Rs.1,50,000/- dated 27.07.2020

Ext.P6    : Statement of accounts from the State Bank of India dated 02.07.2019. 

Ext.P7    : Copy of the bank passbook.

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil