BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION AT BANGALORE (URBAN)

DATED 28^th DAY OF SEPTEMBER 2021

O R D E R

Smt.P.K.SHANTHA, MEMBER

The complainants filed this complaint under Section 12 of Consumer Protection Act, 1986 against Opposite Parties (herein after referred as OPs) with a prayer to direct the OPs to refund the entire amount of Rs.1,25,000/- along with 12.50% p.a. interest from the date of making payments till realization, direct the OPs to pay the complainants Rs.1,00,000/- towards compensation for deficiency in service, direct the OPs to pay compensation of Rs.1,00,000/- to the complainant towards shock, mental agony, physical suffering and loss of time due to the deficiency of service on the part of the OPs and grant such other reliefs deemed fit and proper under circumstances of the case in the interest of justice and equity.

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

The OP No.1 is the company incorporated under the registrar of companies and OP No.2 being the Chairman and Managing Director of the companies by name Unitech Ltd. And having many branches that the complainants have invested a sum of Rs.25,000/- as fixed deposit in OPs company on 07.12.2012 bearing F.D.No.1198763 and already matured on 07.12.2015 repayable together with interest at the rate of 12.50% p.a. and Rs.1,00,000/- fixed deposit in OPs company on 13.08.2013 bearing F.D.No.1229604 and this F.D. is already matured on 13.08.2016 repayable together with interest at  the rate of 12.50% p.a.

The captioned FDR was submitted for repayment along with a request for payment of principle and interest from the month of December, 2012.  However, no payment was made at all there is no communication.  It is hereby brought to the notice of OPs company, the company has not made any payment neither principal nor interest on the deposit amount from 2012 to till today.

The second fixed deposit amount had matured on 13.08.2016.  The OPs company has made payment only interest amount on fixed deposit till the year 2016.  Thereafter the OPs have not made any payment of principal nor interest from the year 2016 till the due date for which the Ops company had issued an acknowledgement, since the OPs failed to return the amount with interest.  Hence, the complainants gave a complaint to the Ministry of Corporate in online.

The OPs failed to return the deposited amount with interest not only to the complainants but several such depositors who invested their amount with Ops.  There are several complaints have been filed by the persons to the Ministry of Corporate Office of register of companies, NGT of Delhi and Haryana.

The complainants are harassed mentally, physically and financially due to unfair trade practice of the OPs.  The complainants got issued a legal notice dated 03.10.2019 calling upon the OPs to refund the amount within seven days is returned with an endorsement, the addressee left.  In spite of the legal notice, the OPs have not returned the amount due to the complainants.  Hence, this complaint.

3. After registration of the complaint, notices were issued to OPs.  In spite of service of notice, OPs remained absent without sufficient reason and cause, hence OPs placed exparte and the case was posted for filing affidavit evidence of the complainants.
4. Thereafter complainants were called upon to tender his evidence by way of affidavit.  Accordingly, complainant No.1 tendered his evidence by way of affidavit along with list of documents reiterating the allegations made in the complaint. The documents are marked as Ex.A.1 to Ex.A.6.  Heard the counsel for complainant.

5. The points that arise for our consideration are:

1.  Whether the Complainants prove the deficiency of service on the part of OPs, if so, entitled for the relief sought for?
2. What order?

  6.  Our answers to the above points are as under:

       Point No.1:  Partly in the affirmative.

      Point No.2:  As per the final order for the following

REASONS

7. Point No.1:  The above said assertions of the complainants have remained unchallenged, OPs neither filed version nor denied the sworn testimony of the complainants, so under circumstances, we have no reasons to disbelieve the sworn testimony of the complainant.
8. Let us have a cursory glance at the documents produced by the complainants.  Document No.1 is the F.D. receipt No.1229604 for Rs.1,00,000/- deposited on 13.08.2013 for a period of 3 years at 12.50%p.a. interest, document No.2 is the online complaint given by the complainants, document No.3 is the letter given to Company Law Board, New Delhi, document No.4 is the copy of legal notice issued by the complainants to OPs, document No.5 is the postal receipts and document No.6 copies of the postal acknowledgement.
9. On perusal of the oral and documentary evidence of the complainants, it is evident that the complainants have deposited Rs.1,00,000/- with Ops for a period of 3 years from 13.08.2013 to 13.08.2016 and Rs.25,000/- for a period of 3 years from 07.12.2012 to 07.12.2015.  The OPs did not appear and contest the claim put forth in the complaint.  The conduct of OPs in not refunding the deposit amount of Rs.1,25,000/- and non-payment of interest on time amounts to deficiency of service.  The non-refunding of the fixed deposit amount must have put the complainants to hardship, inconvenience and mental agony.  The OPs absolutely have no reason to withheld the said amount of Rs.1,25,000/-.  We are satisfied that the complainants have proved deficiency in service against OPs.   OPs have paid interest of 12.50% on Rs.1,00,000/- (Rupees one lakhs only) FD from the date of payment till realization.  Hence, OPs are liable to pay agreed rate of interest at 12.50% p.a. from the date of maturity till realization.  Ops have not made payment nor interest on Rs.25,000/- from the date of deposit till today. Hence, OPs are liable to pay interest at 12.50% p.a. on Rs.25,000/- from the date of deposit till realization. Under such circumstances, we are of the considered view that Ops are liable to refund of Rs.1,00,000/- to the complainants along with interest at 12.50% p.a. from the date of maturity till the date of realization.  Further Ops are directed to refund Rs.25,000/- along with interest at 12.50% from the date of deposit till realization, to pay litigation cost of Rs.5,000/-. Accordingly, we answered the point no.1 partly in the affirmative.

          9. Point No.2:- In the result, we pass the following

ORDER

1. The complaint filed by the complainants u/s.12 of the Consumer Protection Act, 1986 is allowed in part.
2. OPs are jointly and severally directed to refund an amount of Rs.1,00,000/- (Rupees one lakh only)  with interest at 12.50% p.a from the date of maturity till realization. Further Ops are jointly and severally directed to pay Rs.25,000/- (Rupees twenty five thousand only) with interest at 12.50% p.a. from the date of deposit till realization together with litigation cost of Rs.5,000/- (Rupees five thousand only) to the complainants.
3. OPs shall comply this order within six weeks from the date of receipt of the order, failing which the complainants are at liberty to take steps as per Law.
4. Furnish free copy of this order to both the parties.

(Dictated to the Stenographer, got it transcribed and corrected, pronounced in the Commission on this 28^th day of September, 2021).

List of documents produced by the complainants marked as Ex.A.1 to 6 are as follows:-