BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

30^th DAY OF NOVEMBER 2018

O R D E R

SMT. SHANTHA P.K, MEMBER

The complainant has filed this complaint U/s.12 of the Consumer Protection Act, 1986 against the Opposite Party (herein after referred as OP) with a prayer to direct OP to pass an award and compensation of Rs.50,000/- with interest @ 12.50%, Rs.25,000/- towards mental agony, Rs.10,000/- loss of energy and correspondence and Rs.5,000/- towards cost of the complaint and pass such other reliefs deems fit in the circumstances of the case in the interest of justice and equity.

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

On assurance and promise of the public notice through company brochures the complainant believed and decided to invest the amount as fixed deposit in the OP finance company.  The complainant invested the amount by way of fixed deposit receipts bearing No.FDR 1228450 for Rs.25,000/- on 09.07.2013 and by way of account No.100972 and Rs.25,000/- on 09.07.2013 vide FDR No.1228448 totaling in a sum of Rs.50,000/- for a period of three years.  The said fixed deposit receipts are sent to the OP and OP has been duly acknowledged the fixed deposit amount and issued receipts on 22.07.2013 in two receipts each Rs.25,000/-.  On several occasions the complainant wrote a letter and sent letter through e-mail for refund of the fixed deposit amount of Rs.50,000/- with interest @ 12.50% p.a to the OP and intimated to the OP has been transferred the amount to the account of complainant within 15 days and demanded the OP through phone calls but the said OP has not responded to the phone calls made by the complainant.  It clearly shows that OP has cheated the complainant by not refunding the fixed deposit amount of Rs.25,000/- each with interest even after maturity date and not responding to the complainant regarding FD amount.  Having no any other alternative complainant approached the Forum for seeking relief for his grievance. 

3. After registration of the complaint, notice was issued to OP.  Inspite of service of notice, OP remained absent without sufficient reason and cause.  Hence OP was placed ex-parte and the case was posted for filing affidavit evidence of the complainant.

4. So as to prove the case, the complainant has filed the affidavit evidence in support of his complaint reiterating the complaint averments and produced the copies of documents.

5. The above said assertions of the complainant have remained unchallenged.  OP 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 fixed deposit receipt No.1228448 for Rs.25,000/- deposited on 09.07.2013 for a period of three years @ 12.50% interest, issued on 22.07.2013.  Document No.2 is another receipt No.1228450 for Rs.25,000/- deposited on 09.07.2013 for a period of three years @ 12.50% interest, issued on 22.07.2013.  The complainant sent two FDR receipts bearing No.1228450 and 1228448 for Rs.25,000/- each by post duly signed on the said receipts and the same were matured on 09.07.2016.  The copies of postal receipts are produced as document No.3 and 4 respectively.  After maturity the complainant wrote a letter to OP to acknowledge the duly signed and send FD receipts of two numbers which are matured on 09.07.2016 and to transfer the amount into the account of complainant within 15 days.  The copy of the letter dated 01.08.2016 is produced as document No.5.  Before this letter OP sent a letter to complainant regarding submission of 15 H for non deduction of tax.  The said form is required to the company for the financial year 2016-17.  The copy of the letter issued by the OP is produced as document No.6.  The complainant has sent the reply to the OP by way of e-mail ID contact number and occupation with duly signed 15 H form.  The copy of the e-mail is produced as document No.7.

7. On perusal of oral and documentary evidence of the complainant, it is clear that, the complainant has deposited a sum of Rs.25,000/- each with OPs for a period of three years from 09.07.2013 to 09.07.2016 repayable along with interest @ 12.50% p.a.  The OP failed to pay the matured amount with interest.  The conduct of OP in not refunding the matured amount with interest amounts to unfair trade practice and gross deficiency of service.  The OP has no right to with held the amount of complainant which he deposited.

8. The OP did not appear and contest the claim put forth in the complaint.  The conduct of OP in not refunding total deposit amount of Rs.50,000/- along with interest on time amounts to deficiency of service.  The non-refunding of the fixed deposit amount must have put the complainant to hardship, inconvenience and mental agony.  We are satisfied that the complainant has successfully proved the deficiency of service on the part of OP.  Under the circumstances, we are of the considered view that, OP is liable to refund total fixed deposit amount of Rs.50,000/- to the complainant along with interest @ 12.50% p.a from the date of deposit till the date of maturity.  Further OP is directed to pay interest @ 18% p.a from the date of maturity till the date of realization and directed to pay compensation of Rs.5,000/- for having caused hardship, inconvenience and mental agony together with litigation cost of Rs.2,000/-.

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

       O R D E R

The complaint filed U/s.12 of the Consumer Protection Act, 1986 by the complainant is allowed in part. 

OP is directed to refund fixed deposit amount of Rs.50,000/- to the complainant together with interest @ 12.50% p.a from the date of deposit till the date of maturity.  Further OP is directed to pay interest @ 18% p.a from the date of maturity till the date of realization.  Further OP is directed to pay compensation of Rs.5,000/- for having caused hardship, inconvenience and mental agony together with litigation cost of Rs.2,000/- to the complainant.

OP shall comply the order passed by this Forum within a month from today.

Furnish free copy of this order to both the parties.

(Dictated to the Stenographer, got it transcribed and corrected, pronounced in the Forum on this 30^th day of November 2018)

MEMBER                                                               PRESIDENT

     Vln*      

Witnesses examined on behalf of complainant dated 11.10.2018.

Sri.R.G Geethacharan

                               OP     -       Absent

MEMBER                                                               PRESIDENT

Vln*