BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

28^th DAY OF DECEMBER 2015

O R D E R

SMT. P.K SHANTHA, MEMBER

The complainant has filed this complaint U/s.12 of the Consumer Protection Act, 1986 against the Opposite Parties (herein after referred as OPs) with a prayer to direct the OPs to refund the principle amount of Rs.10,00,000/- along with interest @ 11.5%, compensation of Rs.1,00,000/- towards deficiency of service together with litigation cost of Rs.10,000/-.

2. The brief averments made in the complaint are as under:

On 04.06.2013 the complainant invested a sum of Rs.10,00,000/- in the form of Fixed Deposit with OPs Company refundable after one year along with interest at 11.5%.  After lapse of one year, the complainant submitted the copy of deposit receipt bearing No.1221306 to OP for repayment of the matured amount.  The complainant has not received the matured amount till date even after lapse of one year from the date of maturity.  However, the interest amount for one year i.e., up to 04.06.2014 was paid.  Inspite of repeated requests & personal visits OPs failed to refund the maturity amount.  The complainant wrote a letter to the OP and personally handed over the letter to OP on 14.08.2014.  There was no response from OPs.  Hence, the complainant felt deficiency in service against OPs.  Under the circumstances, the complainant filed this complaint against OPs for appropriate relief.

3. After registration of the complaint, notices were issued to OPs.1 & 2.  Despite service of notice, OPs remained absent.  Hence, OPs placed ex-parte and posted the case for filing affidavit of the complainant.

4. So as to prove his case, Mr.K.Jayaram Naik, who being the complainant filed his affidavit evidence in support of his complaint reiterating the complaint averments and produced four documents.

5. The above said assertions of the complainant have remained unchallenged.  OPs neither filed version nor denied the sworn testimony of the complainant.  So under the circumstances, we have no reasons to disbelieve the sworn testimony of the complainant.

6. Let us have a cursory glance at the documents produced by the complainant.  Document no.1 is the copy of Fixed Deposit Receipt bearing No.1221306 issued by OP in the name of the complainant for a sum of Rs.10,00,000/- for the period of one year, interest rate at 11.50% per annum for the period from 04.06.2013 to 04.06.2014, date of maturity being 04.06.2014 issued by the OPs to the complainant.  Document No.2 is the copy of letter from IDBI Bank Ltd., dated 04.06.2014 to the complainant stating that IDBI Bank has enclosed the cheque for a sum of Rs.1,21,259/- towards the interest amount for the period of one year from 04.06.2013 to 03.06.2014. Document no.3 is the copy of letter issued by the complainant to OP requesting to pay the F.D amount.  Document no.4 is the copy of notice of complainant issued to the OP-1 dated 04.06.2015.

7. On perusal of oral and documentary evidence of the complainant, it is crystal clear that the complainant has deposited a sum of Rs.10,00,000/- with OPs for the period of one year starting from 04.06.2013 to 04.06.2014 repayable along with interest at 11.5% p.a as per document No.1.  Complainant claims that he has returned the original fixed deposit receipt to OP towards refund.  The said fact has been proved by the complainant as per Annexure-A and OP has acknowledged its seal dated 04.06.2014 on Fixed Deposit Receipt.  OPs have failed to refund the amount.  After the date of maturity, complainant has sent a letter to OP on 14.08.2015 & 04.06.2015 requesting OP to refund the matured amount of Rs.10,00,000/- along with interest.

8. The complainant in the complaint itself submits that he has received interest of Rs.1,21,259/- from 04.06.2013 to 03.06.2014 and prays for the refund of the amount of Rs.10,00,000/- deposited by him together with interest from the date of maturity till the date of refund.  The OP did not appear and contest the claim put forth in the complaint.  We have no reason to disbelieve the allegations made in the complaint as well as sworn testimony of the complainant.  Though, the OPs have paid interest for a period of one year, but have failed to refund the Fixed Deposit amount of Rs.10,00,000/- without assigning any reasons.  The conduct of the OPs in not refunding the deposit amount of Rs.10,00,000/- and non-payment of interest on time amounts to deficiency in service.  The non-refunding of the Fixed Deposit amount must have put the complainant to hardship, inconvenience and mental agony.  The OPs have absolutely have no reason to withheld the payment of the said amount of Rs.10,00,000/-.  Therefore, we are of the opinion that the OPs are liable to refund the said amount of Rs.10,00,000/- to the complainant together with interest at the rate of 18% per annum from 03.06.2014 till the date of realization.  Further, OPs are also liable to pay compensation of Rs.25,000/- for deficiency in service together with litigation cost of Rs.3,000/-.

9. In the result, we proceed to pass the following:

         O R D E R

The complaint filed by the complainant is allowed in part.  OPs 1 & 2 are jointly and severally directed to refund Rs.10,00,000/- to the complainant along with interest at 18% per annum from 03.06.2014 till the date of realization.  Further OPs are directed to pay compensation of Rs.25,000/- to the complainant towards deficiency in service together with litigation cost of  Rs.3,000/-.

This order shall be complied within 30 days from today.

Supply free copy of this order to both the parties.

(Dictated to the Stenographer, got it transcribed and corrected, pronounced in the Forum on this 28^th day of December 2015)

MEMBER                            MEMBER                     PRESIDENT

Vln/Nrs* 

COMPLAINT NO.1173/2015

Complainant                 -        Sri.K Jayaram Naik,

Bangalore-560086.

                                          -vs-

Opposite Parties           -        1) The Manager,

UNITECH LIMITED.,

Bangalore-560001.

2) The Managing Director,

UNITECH LIMITED.,

Gurgaon,

Haryana-122016.

Witnesses examined on behalf of the complainant dated 26.11.2015.

1. Sri.K Jayaram Naik

          OPs.1 & 2        -       Absent

MEMBER                           MEMBER                      PRESIDENT