C.C. No.41/2002

Between:

1.Appam Laxmaiah, s/o.Ramachandraiah, age: 68 years.
2.Appam Laxmamma, W/o.Laxmaiah, age: 62 years
3.Kakumanu alivelu, w/o.Arlaiah,age: 45 years
4.Veshala Vijaya, w/o.Veeraiah age: 28 years,
All are r/o.H.No.8-1-22, Prasanth Nagar, Khammam.
….Complainants

and

1. The Managing Director, Nagarjuna Finance Co., Ltd., Nagarjuna Hills,
Panjagutta, Hyderabad-500082.

2. Sri K.G.Philip, s/o. Not known, age: Adult, Nagarjuna Investors
services Ltd., Nagarjuna Hills, Hyerabad – 500 082
….Opposite Party.
This C.C coming on before us for final hearing, in the presence of Sri.Y.Srinivasa Rao, Advocate for complainants and the notice of opposite parties served and called absent; upon perusing the material papers on record; and having stood over for consideration, this Forum passed the following:-

ORDER

(Per Sri.K.V.Kaladhar, Member)

1. This complaint is filed under section 12-A of the Consumer Protection Act, 1986 with the following averments;

2. The complainant No.2 is the wife, complainants No.3 and 4 are the daughters, of complainant No.1. Having attracted towards the publicity of the opposite parties, the complainants deposited an amount of Rs.6,000/-, 6,000/-, 5,000/- and 5,000/- respectively, vide application No.027621 to 027624 dt.9-11-1996 through Khammam branch and the same was acknowledged by Nagarjuna Finance Ltd., Khammam branch. After receipt of amount, the opposite parties issued four F.D.Rs. for a period of 45 months to the complainants for the amount deposited by them. After the date of maturity for the deposited amount, the complainants have approached the opposite parties at its office, the staff of the opposite parties advised the complainants to send the original F.D.Rs. by way of registered post to get back the matured mount. Believing the words of opposite parties, the complainants sent the original F.D.Rs. through registered post under acknowledgment due. But the opposite parties wrote many letters for extending the time from one date to another; so far the respondents did not make payment to the complainants. The complainants many times approached the opposite parties at Hyderabad and requested to make payment, but they avoid intentionally under one pretext or other. Hence the complaint to direct the opposite parties to pay the maturity amounts i.e. Rs.44,000/- (four F.D.Rs.) with interest as per the orders of the company law board, dt.29-2-2000 till the date of payment, to pay expenditure of Rs.3,000/- incurred to the petitioners to approach the opposite parties, to award costs and to grant any other relief which is deems fit in the circumstances.


4. The complainant filed the following documents. Ex.A.1, Xerox copy of F.D.R. No.C 450200001, Ex.A.2, Xerox copy of F.D.R. No.C 450200037, Ex.A.3, Xerox copy of F.D.R. No.C 450200038, Ex.A.4, Xerox copy of F.D.R. No.C 450200036, Ex.A.5, Xerox copies of letters (4) addressed to respondent, dt.30-9-2000, Ex.A.6, Xerox copy of postal receipt, Ex.A.7 xerox copy of acknowledgment, Ex.A.8, Xerox copy of order of Company Law Board, dt.29-2-2000, Ex.A.9, Xerox copy of Letter issued by Respondent, dt.4-6-2001, Ex.A.10, Xerox copy of Letter issued by respondent, dt.31-7-2001, Ex.A.11, Xerox copy Letter issued by respondent, dt.31-7-2001, Ex.A.12, Xerox copy of acknowledgment of payments issued by Nagarjuna Finance Ltd., Khammam banch, Ex.A.13, paper publication in Eenadu Khammam Edition.


5. The notice was served on opposite parties and the opposite parties sent a letter along with order of High Court of A.P., vide
W.P.No.14064/2001, the same writ petition was dismissed by the Hon’ble High Court of A.P. on 30-1-2009 and the said case is posted for enquiry. Inspite of several adjournments, the opposite party did not appear before this forum and did not file any counter.


6. Upon perusing the material paper on record, the point that arose for consideration is, whether the complainant is entitled as prayed for?
Point:



7. It is the contention of the complainants that they deposited an amount of Rs.6,000/-, 6,000/-, 5,000/- and 5,000/- respectively, vide application No.027621 to 027624 dt.9-11-1996 through Khammam branch and the same was acknowledged by Nagarjuna Finance Ltd., Khammam branch. After receipt of amount, the opposite parties issued four F.D.Rs. for a period of 45 months to the complainants for the amount deposited by them. After the date of maturity for the deposited amount, the complainants have approached the opposite parties at its office, the staff of the opposite parties advised the complainants to send the original F.D.Rs. by way of registered post to get back the matured mount. Believing the words of opposite parties, the complainants sent the original F.D.Rs. through registered post under acknowledgment due. But the opposite parties wrote many letters for extending the time from one date to another; so far the respondents did not make payment to the complainants. The complainants many times approached the opposite parties at Hyderabad and requested to make payment, but they avoid intentionally under one pretext or other. Hence, he filed a complaint.


As per the documentary evidence produced by the complainant, it is evident that they deposited amounts for which the opposite parties issued F.D.Rs. After receipt of Notice also, the opposite parties did not choose to produce any oral or documentary evidence, to disprove the contention of complainants, as such they are liable to repay the deposited amounts with interest.


9. In the result, the C.C. is allowed, directing the opposite parties to pay an amount of Rs.44,000/- with interest at 9% P.A. from the date of complaint i.e. 24-1-2002 till the date of payment and also pay an amount of Rs.1,000/- towards costs of this complaint.