IN THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, KOLLAM

                                                       C.C.No. 340/2022

                                                             PRESENT

SMT. S.K.SREELA, B.A.L, LL.B, PRESIDENT

      SMT. S.SANDHYA   RANI. BSC, LL.B, MEMBER

  SRI.  STANLY HAROLD, B.A.LL.B, MEMBER

                                            ORDER DATED:   26-06-2023

BETWEEN

Surendran,

S/o Kunju Pillai, 70 years,

Veena, Vilakkuvattom P.O.,

Punalur.

(By Adv.K.B.Sreekumar)                              :      Complainant

AND

1. Venugopal S.,

Proprietor, Kechery Enterprises,

Hari Bhavanam,

Kariyara P.O., Punalur.

2. Bindu Venugopal,

Hari Bhavanam,

Kariyara P.O., Punalur.                                  :      Opposite Parties

ORDER

Sri.Stanly Harold, B.A.LLB, Member

          This is a case based on a complaint filed U/s 35 of the Consumer Protection Act 2019.

The summary of the allegations made in the complaint is as follows:

The complainant is an advocate by profession practicing before the courts of Punalur and Kottarakkara. The first opposite party is the proprietor of Kechery Enterprises located in Punalur. The second opposite party is the wife of the first opposite party and is responsible for the day-to-day management of Kechery Enterprises. The opposite parties are engaged in the activities of conducting chitties and accepting deposits in exchange for interest.

That the opposite parties accepted an amount of Rs.1,00,000/- as deposit from the complainant as per the fixed deposit receipt No.28066 dated 10.07.2018..  Subsequently, upon maturity of the fixed deposit on 10.07.2021, it was renewed. The opposite parties assured the complainant that they would provide monthly interest payments as specified in the fixed deposit receipts. It was agreed that the principal amount would be returned either upon the expiration of the agreed period or upon the complainant's demand. That the opposite parties led the complainant to believe that they had the freedom to withdraw the accumulated interest on a monthly, quarterly, or annual basis.

That the opposite parties are not giving the regular monthly interest to the subscribers from 2022 April onwards.  In spite of repeated demands the opposite parties failed to give interest as well as the deposited amount.  Thereafter the complainant approached the opposite parties 1 and 2 requesting them to release the amount due to them along with interest from the date of deposit of the amount till payment with arrears.  The opposite parties had promised the complainant that they would return the amount with interest on or before 30^th September 2022.  But thereafter the opposite parties failed to pay the said fixed deposit or the interest to the complainant.  The complainant had made several demands to the opposite parties to pay the arrears of interest and also to return the principal fixed deposit amount. 

The opposite parties have an obligation to reimburse the complainant for the amount they accepted as a deposit, along with the agreed-upon interest. Their actions constitute a contractual violation, deficiency in service, and unfair trade practice. The complainant has sustained heavy loss unexplainable difficulties, mental pain and hardships due to the illegal acts of the opposite parties.  The mental pain and hardship suffered by the complainant are immeasurable.  The opposite parties are liable to pay the complainant exemplary compensation and also the costs of the complaint.  The complainant came to know that the opposite parties have closed down their enterprises.  Hence the complaint.

Notice was issued to the opposite parties and they failed to appear before the Commission despite acceptance of the same and hence they were set exparte.  The complainant filed chief affidavit in lieu of chief examination and reiterated the averments in the complaint and got marked Ext.P1 document.  Ext.P1 is the fixed deposit receipt No.28066 for Rs.1,00,000/- dated 10.07.2018 in the name of the complainant.

Based on the uncontested testimony of the complainant, supported by Ext.P1 document, it is evident that the complainant has successfully established his case, justifying the relief sought. It is important to note that the opposite parties did provide interest on the fixed deposit amount deposited with their company until April 2022. However, they subsequently failed to pay the interest or principal amount to the complainant.

The available evidence indicates that the complainant approached the opposite parties and made repeated demands for the withdrawal of their deposits. Despite these requests, the opposite parties refused to return the interest or principal amount. This clear and deliberate act demonstrates that the opposite parties are unlawfully withholding the complainant's money for their own gain, disregarding their contractual obligations. This behavior clearly signifies a deficiency in service and unfair trade practice.

As a result, in the interest of justice, we are of the view the complaint is only to be allowed. Therefore, the complainants are entitled to recover Rs.1,00,000/- along with interest at a rate of 12% per annum, as well as compensation of Rs.10,000/-. and costs of the proceedings, amounting to Rs.5,000/-, from the date of the complaint until the realization of the awarded amounts.

In the result complaint stands allowed in the following terms: -

1. The opposite parties 1 and 2 are directed to pay Rs.1,00,000/- to the complainant as per Ext.P1 fixed deposit receipt, along with interest at a rate of 12% per annum from the date of the deposit until the realization of the amount.
2. The opposite parties 1 and 2 are further directed to pay Rs.10,000/- to the complainant as compensation and costs of Rs.5,000/- to the complainant.
3. The opposite parties 1 and 2 are directed to comply with the above directions within 45 days from the date of receipt of the order. In the event of their failure to do so, the complainant is entitled to initiate execution proceedings.

Dictated to the Confidential AssistantSmt. Minimol S. transcribed and typed by her corrected by me and pronounced in theOpen Commission this the 26^th day ofJune 2023. 

Sd/-

STANLY HAROLD:

MEMBER

Sd/-

S.K.SREELA:

                                                                                           PRESIDENT

Sd/-

S.SANDHYA RANI:

MEMBER

Forwarded/by Order                                                                                                           

                                                              Senior superintendent

INDEX

Witnesses Examined for the Complainant:-Nil

Documents marked for the  complainant:-

Ext.P1  : Fixed deposit receipt No.28066 for Rs.1,00,000/- dated 10.07.2018

              in the name of the complainant.

Witnesses Examined for the opposite party:-Nil

Documents marked for opposite party:-Nil