Denduluru Large Seized Cooperative Society
This is a discussion on Denduluru Large Seized Cooperative Society within the Judgments forums, part of the General Discussions category; Jalipudi Large Seized Co-operative Society Ltd., Jalipudi, Eluru Mandal, W.G. Dist., Rep., by its President -- Complainant The Denduluru Large ...
- 09-13-2009, 03:26 PM #1
Denduluru Large Seized Cooperative Society
Jalipudi Large Seized Co-operative Society Ltd.,
Jalipudi, Eluru Mandal, W.G. Dist., Rep., by its
President -- Complainant
The Denduluru Large Seized Cooperative Society Ltd.,
Rep., by its President, Denduluru village, Denduluru
Mandal. W.G. Dist., -- Opposite Party
O R D E R
The complainant is a registered Co-operative society carrying on its business under the name and style of the Jalipudi Large Seized Co-operative Society Ltd., Jalipudi represented by its President.
The complainant stated that in the course of business and on requisition by the opposite party, it has deposited a sum of Rs.66,330/- on 10-1-2007 by way of Fixed deposit repayable after 12 months with interest at 8% pa., After the date of the maturity of the above said deposit, the complainant approached the opposite party and requested for payment of the matured value of the said FDR but the opposite party failed to repay the value of the FDR. As such, the complainant got issued a legal notice dt. 29-12-2008 demanding the opposite party to pay the matured value of the FDR amount but the opposite party having received the notice, failed to respond thereof. The complainant stated that due to non-payment of the FDR amount, the society sustained loss to a tune of Rs.10,000/-. Ascribing the non-payment of the FDR amount to the complainant after the date of maturity to deficiency in service, the complainant approached this Forum for redressal.
2. It is prayed to direct the opposite party to pay the matured value of Fixed deposit amount of Rs.66,330/- with interest at the rate of 8% from 9-1-2008 to 15-2-2009 and subsequent interest at the rate of 12% pa., from the date of complaint till realization along with Rs.10,000/- towards compensation and costs.
3. The opposite party received the notice of the complaint and remained exparte.
4. In support of its case, Sri. Manikonda Seetharama Babu, the President of the complainant/society filed affidavit on behalf of the complainant and relied upon documents marked as Ex A.1 to Ex A.4.
5. Arguments of the complainant heard.
6. Now the points for consideration are;
1) Whether the complainant could prove his case as alleged in the complaint ?
2) Whether the complainant is entitled to the reliefs ?
Point No. 1 :
As seen from the documentary evidence on hand, the complainant being a Co-operative society represented by its President made a fixed deposit of Rs.66,330/- under the original of Ex A.4 on 10-1-2007 with the opposite party and the said deposit matured on 10-1-2008 carrying interest at the rate of 8% pa., and it is ripe for payment. It is the duty of the opposite party to pay the value of the FDR as and when the deposit matured, but the silence on the part of the Opposite Party in not paying the maturity value of the FDR even after the date of maturity and even after receipt of the legal notice got issued by the complainant under Ex A.1 constitutes the deficiency in service. In the absence of any plea from the side of the opposite party, the case of the complainant deserves to be accepted. The affidavit testimony, the complaint and the documents tendered in evidence, remained unrebutted and unchallenged. The complaint is therefore held proved. Point No: 1 is answered accordingly.
Point No: 2
In view of finding on point No:1 the complainant is entitled to the relief.
In the result, the compliant is allowed. The opposite party is directed to pay the maturity value of fixed deposit under Ex A.4/Fixed Deposit Receipt with interest at the contracted rate from the date of deposit till realization and also pay Rs.3000/-(Rupees three thousands only) towards compensation for deficiency in service along with a sum of Rs.500/- (Rupees five hundred only) towards costs to the complainant within one month from the date of due dispatch of free copy of this order.
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