Present : Sri. C.T. Sabu, President
Smt. Sreeja. S., Member
Sri. Ram Mohan R., Member
24th day of February 2023
CC 460/20 filed on 12/11/2020
Complainants : 1) Antu, S/o Thaliyath Antony, Mullakkara Desom,
Ollukkara Village, Thrissur.
2) Gracy, W/o Thaliyath Antu, Mullakkara Desom,
Ollukkara Village, Thrissur.
(By Advs. Sojan C.D. & N.S. Ramesh, Thrissur)
Opposite Parties : 1) Ollukkara Benefit Fund Nidhi Ltd.,
Menachery Square, Market Road, Mannuthy,
Thrissur. Rep. by Managing Director, Biju Raphael.
2) Biju Raphael, S/o Raphael,
Areeppadam Chirayath House, P.O. Areepadam,
Veliyathunadu Kara, Aluva West Village,
Aluva Taluk, Ernakulam,
3) Elizebeth Eve Devis, W/o Biju Raphael,
Areepadam Chirayath House, P.O. Areepadam,
Veliyathunadu kara, Aluva West Village,
Aluva Taluk, Ernakulam.
4) Thomas, S/o Marangattil Mathayi, P.O. Areeppadam,
Veliyathunadu Kara, Aluva West Village,
Aluva Taluk, Ernakulam.
(Ex-parte)
O R D E R
By Sri. C.T. Sabu, President :
The facts of the case are as follows:
The 1st opposite party is the company which was accepting deposits from the public. The 2nd to the 4th opposite parties are the Managing Director and Directors of the 1st opposite party company. The complainants deposited a total of Rs.12,70,000/- (Rupees Twelve lakh seventy thousand only) all together as fixed deposits and Rs.76,393/- (Rupees Seventy six thousand three hundred and ninety three only) in the current account of the 1st opposite party company in varying amounts on different dates. When depositing the amount, the opposite parties assured 10.5% interest every month to both the fixed deposits and the balance amount remaining with the current account. But when the complainants demanded the interest, the opposite parties failed to give the same. The other party abruptly stopped their work and closed down without warning, intending to deceive those who had deposited their money. The complainants sent a lawyer notice demanding the deposit amount and interest. Even after receiving the notice, they neither replied nor paid the amount. Hence this complaint.
2) After receiving the complaint, the Commission sent notice to all the Opposite Parties. However, the notice was returned unclaimed. Hence the opposite parties were set ex-parte, and the case was posted for the complainant's evidence.
3) When the case came for evidence, the first complainant filed the proof affidavit on behalf of both complainants, in which he affirmed and explained all the averments in tune with the complaint. The complainants produced six documents marked as Exts. A1 to A6. Ext A1 series (10 Nos.) are the Term Deposit Receipts No.63 dtd. 16/10/2019 for Rs.50,000/-, No.45 dtd. 28/08/19 for Rs.50,000/-, No. 46 dtd. 03/09/2019 for Rs.50,000/-, No. 48 dtd.05/09/19 for Rs.50,000/-, No.52 dtd. 17/09/19 for Rs.1,00,000/-; No. 65 dtd. 10/01/20 for Rs 50,000, No.57 dtd. 25/09/19 for Rs.1,00,000/-, No. 42 dtd. 24/07/19 for Rs.1,00,000/, No. 26 dtd. 21/03/19 for Rs.2,00,000/-, dtd. 24/02/20 for Rs.20,000/- respectively. Ext. A2 series (6 Nos.) Term Deposit Receipts No.49 dtd. 05/09/19 for Rs. 50,000/- No. 47 dtd.03/09/19 Rs.50,000/-, No. 44 dtd. 28/08/19 for Rs.50,000/-, No. 38 dtd. 14/06/19 for Rs.1,50,000/-, No. 34 dtd. 27/05/19 for Rs. 1,00,000/-, No. 58 dtd. 25/09/19 for Rs.1.00.000/- respectively. Ext. A3 is the Savings Pass Book issued by the first Opposite Party, Ext. A4 is the copy of the Lawyer notice sent by the complainant dtd. 15/09/20, Ext. A5 are the Postal Receipts dtd. 15/09/20 (4 Nos.) and Ext. A6 are the Postal A/D cards (3 Nos.).
4) We have reviewed the affidavit filed and perused the documents produced. The Exts. A1 & A2 series prove that the complainants deposited Rs.12,70,000/- as fixed deposits, as mentioned in the complaint. Ext A3 shows that the complainants deposited Rs.76,393/- in the current account. The other documents produced also substantiate the allegations in the complaint. Since no contra evidence is available before us, we are inclined to accept the proof affidavit filed by the complainant. The act of opposite parties tantamounts to deficiency in service and unfair trade practice. Hence, the complainant is entitled to get all those amounts deposited with the OP Company with interest, and we are inclined to allow the complaint.
In the result, the complaint is allowed, and the opposite parties are directed to return to the complainant, the deposit amount Rs.13,46,393/- (12,70,000 + 76,393/-) (Rupees Thirteen lakh forty six thousand three hundred and ninety three only) with 12% interest p.a., from the date of filing of complaint, till realisation. Also directed to pay Rs.15,000/- (Rupees Fifteen thousand only) towards compensation and cost of this complaint.
Dictated to the Confidential Assistant, transcribed by her, corrected by me and pronounced in the open Commission this the 24th day of February 2023.
Sd/- Sd/- Sd/-
Sreeja S. Ram Mohan R C. T. Sabu
Member Member President
Appendix
Complainant’s Exhibits :
Ext A1 series (10 Nos.) are the Term Deposit Receipts No.63 dtd. 16/10/2019
for Rs.50,000/-, No.45 dtd. 28/08/19 for Rs.50,000/-, No. 46 dtd.
03/09/2019 for Rs.50,000/-, No. 48 dtd.05/09/19 for Rs.50,000/-,
No.52 dtd. 17/09/19 for Rs.1,00,000/-; No. 65 dtd. 10/01/20 for
Rs 50,000, No.57 dtd. 25/09/19 for Rs.1,00,000/-, No. 42 dtd. 24/07/19
for Rs.1,00,000/, No. 26 dtd. 21/03/19 for Rs.2,00,000/-, dtd. 24/02/20
for Rs.20,000/- respectively.
Ext. A2 series (6 Nos.) Term Deposit Receipts No.49 dtd. 05/09/19 for
Rs 50,000/- No. 47 dtd.03/09/19 Rs.50,000/-, No. 44 dtd. 28/08/19 for
Rs.50,000/-, No. 38 dtd. 14/06/19 for Rs.1,50,000/-, No. 34 dtd.
27/05/19 for Rs. 1,00,000/-, No. 58 dtd. 25/09/19 for Rs.1.00.000/-
respectively.
Ext. A3 Savings Pass Book issued by the first Opposite Party,
Ext. A4 copy of the Lawyer notice sent by the complainant dtd. 15/09/20,
Ext. A5 Postal Receipts dtd. 15/09/20 (4 Nos.)
Ext. A6 Postal A/D cards (3 Nos.)
Id/- President
