BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

01^ST DAY OF JANUARY 2016

O R D E R

SMT. M. YASHODHAMMA, MEMBER

This is a complaint filed by the complainant in person under section 12 of the Consumer Protection Act, 1986 seeking direction against Opposite Parties (herein after referred as OPs) to refund Fixed Deposit amount of Rs.4,00,000/- along with interest at 18% per annum from the date of maturity i.e., 07.12.2013 till settlement and Rs.17,235/- deducted as T.D.S. since OP has failed to issue TDS certificate and failed to file income tax return and same amount has been paid as tax by the complainant while filing his income tax returns and to pay compensation of Rs.5,000/- towards deficiency in not releasing Fixed Deposit amount in time and Rs.5,000/- towards legal expenses on the allegation of deficiency in service.

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

On 07.12.2010 the complainant invested a sum of Rs.4,00,000/- with OP Company vide Fixed Deposit Receipt No.1006170 for the period of three years repayable along with interest at 12% per annum after 3 years on 07.12.2013.  OP has paid the interest amount of Rs.1,55,085/- by making a TDS at 10% Rs.17,235/-, but failed to issue TDS certificate and failed to refund the principle amount.  Inspite of repeated requests OP has not shown any interest in returning the amount.  For more than 14 months since maturity of Fixed Deposit complainant incurred losses due to non-availability of funds on time and could not meet her financial commitments.  Hence, complainant felt deficiency in service on the part of the OP.  Under the circumstances, she is advised to file this complaint against OPs for appropriate relief.

3.  After registration of the complaint, notice was issued to OPs. Inspite of service of notice OPs remained absent.  Hence OPs are placed exparte and posted the case for filing affidavit of the complainant.

4. So as to prove her case, Smt.Meenakumari V.Deshpande, who being the complainant has filed her affidavit evidence in support of her complaint reiterating the complaint averments and produced 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 copy of a Fixed Deposit receipt bearing No.1006170 issued by OP to the complainant for a sum of Rs.4,00,000/- for the period of three years repayable along with interest at 12% per annum on 07.12.2013.  Document No.2 is application form of the complainant for Fixed Deposit.  Document No.3 is email dated 31.10.2014 calling upon OP to refund principle amount within 21 days failing which complainant will approach the Consumer Forum.

7. On perusal of oral and documentary evidence of the complainant, it is made crystal clear that the complainant on 07.12.2010 invested a sum of Rs.4,00,000/- with OP Company repayable along with interest at 12% per annum after three years as per Document No.1 Fixed Deposit Receipt issued by OP.  It is contended by the complainant that OP has paid the accrued interest for three years, but failed to refund the Fixed Deposit amount.  Inspite of repeated request emails as per Document No.3 OP has failed to respond.   Hence this complaint. 

8.  As per the material available on record OP has accepted Rs.4,00,000/- towards Fixed Deposit from the complainant on 07.12.2010 repayable after three years along with interest at 12% per annum.  OP has paid interest amount, but has failed to refund the principle amount for more than two years.  Inspite of email correspondences and notices OP has failed to respond.  This act of OP in not refunding the principle amount of Rs.4,00,000/- since two years after the date of maturity amounts to deficiency in service on its part.  We are satisfied that complainant proved deficiency in service against OP.  It is further contended by the complainant that though OP has deducted the TDS amount of Rs.17,235/- has failed to issue TDS certificate to the complainant.  In the absence of the same complainant cannot claim the tax amount.  Hence complainant paid the tax amount once again.  Hence, we are of the considered view that OP is liable to refund Rs.4,00,000/- being Fixed Deposit amount along with interest at 18% per annum from the date of maturity till payment and OP is also liable to refund  Rs.17,235/- deducted towards TDS with litigation cost of Rs.3,000/-.  Hence, the complaint of the complainant is partly sustainable.   Accordingly, we proceed to pass the following:

                                  O R D E R

1. The complaint filed by complainant is partly allowed. 

2. OPs are jointly and severally directed to refund Rs.4,00,000/- along with interest at 18% per annum from the date of maturity till the date of realization.
3. Further OPs are directed to pay Rs.17,235/- deducted towards TDS amount along with litigation cost of Rs.3,000/- to the complainant.

4. This order shall be complied within 30 days from the date of receipt of this order.

5. Supply free copy of this order to both the parties.

(Dictated to the Stenographer and typed in the computer and transcribed by her, verified and corrected, and then pronounced in the Open Court by us on this the 1^st day of January 2016)

 MEMBER                         MEMBER                       PRESIDENT

NRS* 

C.C.No.925/2015

Witnesses examined on behalf of the complainant dated 26.11.2015

Meenakumari V Deshpande

Witnesses examined on behalf of the OPs – Absent

List of documents produced by the OPs - Nil

MEMBER                          MEMBER                       PRESIDENT

NRS*