BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

10^th DAY OF SEPTEMBER 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 Parties (herein after referred as OPs) with a prayer to direct OPs to return the amount of Rs.56,635/- with interest @ 18% p.a from the date of payment till the date of realization and Rs.20,000/- towards compensation for mental agony and tension undergone along with cost of the complaint also grant such other reliefs in the interest of justice and equity.

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

OP-1 is registered and listed both in BSE and NSE and a Company, incorporated on 11.12.1998, having its registered office at New Delhi.  The branch office of Unitech Limited locally promoting the deposit schemes located at Bangalore.  The complainant applied for the fixed deposits in the prescribed application form of OP-1 through OP-2 deposited a sum of Rs.39,000/- on 15.05.2013 for a period of three years and the rate of interest is 12.50% p.a, date of maturity was 15.05.2016 and the maturity amount was Rs.56,635/-.  The complainant received the deposit receipt from OP-1.  After the date of maturity the complainant sent original receipt.  OPs did not send the maturity amount of Rs.56,635/- to the complainant.

After waiting some time the complainant sent e-mail to OP-1 on 24.06.2016, requesting to send the repayment warrant without fail.  OP-1 did not respond for the same nor send the repayment warrant to complainant.  OP-1 has not paid quarterly interest for the deposited amount.  Complainant did not receive any response from OPs.  Again on 27.01.2017 complainant sent a letter through registered post to both OPs requesting them to return the amount.  OPs failed to respond to the said letter.  Hence, left with no other alternative complainant approached this Forum seeking relief for his grievance.  

3. After registration of the complaint, notices were issued to OPs.  Inspite of service of notices, OPs remained absent without sufficient reason and cause.  Hence OPs were 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.  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 fixed deposit receipt No.1218429 for Rs.39,000/- deposited on 15.05.2013 for a period of three years @ 12.50% interest, issued on 21.05.2013.  Document No.2 is the copy of e-mail dated 26.06.2014 in which it is the request letter of the complainant to send repayment warrant.  When the complainant did not receive any response from OPs again the complainant sent a letter through registered post to both OPs to return the amount, the copy of the letter and the postal window receipt are produced as document No.3 & 4.

7. On perusal of oral and documentary evidence of the complainant, it is clear that, the complainant has deposited a sum of Rs.39,000/- with OPs for a period of three years from 15.05.2013 to 15.05.2016 repayable along with interest @ 12.50% p.a.  The OPs failed to pay the matured amount with interest.  The conduct of OPs in not refunding the matured amount with interest amounts to unfair trade practice and gross deficiency of service.  The OPs have no right to with held the amount of complainant which is his hard earned money and he saved and deposited for the sake of his daughters marriage.

8. 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.75,000/- 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 OPs.  Under the circumstances, we are of the considered view that, OPs are liable to refund total fixed deposit amount of Rs.39,000/- to the complainant along with interest @ 12.50% p.a from the date of deposit till the date of maturity.  Further OPs are directed to pay interest @ 18% p.a from the date of maturity till the date of realization and directed to pay compensation of Rs.10,000/- for having caused hardship, inconvenience and mental agony together with litigation cost of Rs.4,000/-.

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. 

OPs are directed to refund fixed deposit amount of Rs.39,000/- to the complainant together with interest @ 12.50% p.a from the date of deposit till the date of maturity.  Further OPs are directed to pay interest @ 18% p.a from the date of maturity till the date of realization.  Further OPs are directed to pay compensation of Rs.10,000/- for having caused hardship, inconvenience and mental agony together with litigation cost of Rs.4,000/- to the complainant.

OPs 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 10^th day of September 2018)

MEMBER                                                               PRESIDENT

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Witnesses examined on behalf of complainant dated 23.08.2018.

Sri.K.V Sathya Prakash,

                               OPs    -       Absent

MEMBER                                                               PRESIDENT

Vln*