C D.o.F:23/10/2008

D.o.O:22/01/2010

IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD

                                              CC.73/09           

                        Dated this, the 22nd   day of January 2010.

PRESENT

SRI.K.T.SIDHIQ                                            : PRESIDENT

SMT.P.RAMADEVI                                                : MEMBER

SMT.P.P.SYAMALADEVI                        : MEMBER

P.V.Amboonhi,

S/o Parammal Vaniyankunhi,

Kannamkulam,Po.Bekal

Hosdurg.                                                                    : Complainant

 A.Vijayarajan,

 Managing Director,

 Prathibha Business Group, Head office                  : Opposite party

 Palakunnu, Po.Bekal,Kasaragod

 (Subash Bozz.V.M,Adv,Kasaragod)

                                                              ORDER

SMT.P.RAMADEVI            : MEMBER

   The facts of the case in brief are as follows:

   The  complainant is a depositor under the opposite party’s business group namely Prathibha Finance Corporation and business group.  He was attracted with the advertisement of opposite party  showing that for fixed deposits attractive interests will be given .  The opposite party offered Rs.96,000/- as interest for the deposit of Rs.1,00,000/- for 49 months.  The complainant deposited Rs.1,00,000/- on 7/8/2004 for a period of 49 months for that he received FD receipt.  The due date of the deposit was 7.9.08, On maturity of the deposit the complainant approached the opposite party and asked the deposit with interest ie, Rs.1,96,000/-  But the opposite party evaded the payment on one pretext or the other.  The complainant contacted the opposite parties many  a times but there was no avail.    Hence the complaint filed for necessary relief.

      After receiving the notice the opposite party appeared through his counsel and filed the version.  As per the version the opposite party denied all the allegations made against him in the complaint.  He submits that the complainant has made two deposits for Rs.1, 00,000/- on 7/8/2004 and for Rs.25, 000/- on 7/8/2001 as per fixed deposit receipt No.825/2004 and 890/06 and the opposite party liable to pay Rs.2, 80,000/- to the complainant on its maturity.  To the said amount of  2,80,000/- the opposite party paid Rs, 2,50,000/-  and he  is liable to pay only the balance of Rs.30, 000/- to the complainant and therefore the complaint is liable to be dismissed.

      The evidence in this case consists of the evidence of PW1 the complainant and Ext.A1 F.D receipt issued by the opposite party.  No evidence is adduced by the opposite party.

   The issue raised in this case is whether there is any deficiency in service on the part of the opposite party and if so, what is the relief?

   Ext.A1 clearly shows that the amount of deposit and the amount payable on maturity.  There is no contra evidence on the part of the opposite party .   We do not find any reason to disbelieve the version of the complainant regarding the facts of the case.

    Considering all the facts and circumstances of the case and Ext.A1 we are of the opinion that there is deficiency in service on the part of the opposite party and hence we allow the complaint and direct the opposite party, the Managing Director of Prathibha Finance Corporation and Business Group, Palakkunnu to pay Rs.1, 96,000/- being the fixed deposit  maturity amount  with interest @10% per annum from 7/9/2008 till the date of payment to the complainant and also  Rs.2000/- as costs.  Time for compliance is 30 days from the date of receipt of copy of this order.

MEMBER                                        MEMBER                        PRESIDENT

Ext.A1-F.D.receipt