D.O.F : 04/11/2023
D.O.O : 11/06/2024
IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KASARAGOD
CC.349/2023
Dated this, the11th day of June 2024
PRESENT:
SRI.KRISHNAN.K : PRESIDENT
SMT.BEENA.K.G : MEMBER
Joseph P. M., aged 77 years
Puthanpurakkal House
Mothirakkad, Thayannur,
Vellarikkund Taluk : Complainant
And
Administrator/ Secretary
Kanhangad Block Printing&
Publishing Co-operative society Ltd
No S 299, Malakkallu P O
Rajapuram (via) Vellarikkundu Taluk
Kasaragod district. : Opposite Party
ORDER
SMT.BEENA.K.G : MEMBER
The complainant is a senior citizen and opposite party is a printing and publishing cooperative society. On 14/09/2020, the complainant had deposited an amount of Rs. 4,60,000/- with opposite party and the interest offered was 8.25% yearly. The aforesaid FD renewed on 15/09/2021. And the amount was Rs.4,50,000/-. The said amount was again renewed with opposite party for interest at the rate of 7.75% per year. Maturity date of the FD was 16/09/2022. When the complainant approached the opposite party for closing the FD, opposite party was not ready to refund the matured amount. The complainant kept the amount as FD to meet her unforeseen emergencies. And due to the deficiency in service and unfair trade practice on the part of opposite party, the complainant suffered monitory loss and mental agony. Hence the complainant is seeking direction against opposite party to refund Rs. 4,50,000/- with interest along with a compensation of Rs. 40,000/- with cost of litigation.
Notice of opposite party returned stating unclaimed. Name of opposite party called absent set exparte.
The complainant filed proof affidavit. Ext.A1 FD receipt produced. Heard the complainant. The main questions raised for consideration are;
- Whether there is any deficiency in service or unfair trade practice in non-refund of the FD amount after maturity date?
- Whether the complainant is entitled for relief?
- If so, what is the relief?
All points can be discussed together. The case of the complainant is that, she had deposited an amount of Rs. 4,60,000/- as FD with opposite party for one year, with an interest rate of 8.25%. Ext. A1 is produced to prove the deposit with opposite party. The said FD was renewed on 15/9/2021 for one year at an interest rate of 7.75%, that deposit was matured on 16/09/2022. But when the complainant approached opposite party to withdraw the amount, opposite party was not ready to refund the amount. The cause of action for the complaint arose on the date of deposit and on the date of rejection of the matured amount in Kanhangad block, Kasaragod District within the jurisdiction of this commission.
The complainant is a senior citizen now aged 77 years. He kept the amount to meet her incidental expenses. But withholding the deposit after the maturity period amounts to unfair trade practice and deficiency in service. Complainant is entitled to get the FD with offered interest. In the absence of rebuttal evidence, the opposite party is liable for the hardships undergone by the complainant.
Therefore, the complaint is allowed, directing opposite party to refund Rs. 4,50,000/-, (Rupees Four lakhs and fifty thousand only) with interest with a compensation of Rs. 50,000/- (Rupees Fifty thousand only). The cost of litigation is allowed as Rs. 5,000/- (Rupees Five thousand only).
Sd/- Sd/-
MEMBER PRESIDENT
Exhibits
A1 – FD receipt
Sd/- Sd/-
MEMBER PRESIDENT
Forwarded by Order
Assistant Registrar
JJ/
