IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, ALAPPUZHA
Saturday the 19th day of February 2022.
Filed on 20. 10. 2020
Present
- Sri.S.Santhosh Kumar BSc.,LL.B (President )
- Smt. P R Sholy, B.A., LLB (Member)In
CC/No.267/20
between
Complainant:- Opposite parties:-
1. Sri Manoj K S, 1. Sri Thomas Daniel,
Kandampara Madom, Managing Director,
SN Puram P O., Popular Finance Pvt. Ltd.,
Cherthala – 688582. Popular Towers, Vakayar,
2. Smt. Sreeja S Pathanamthitta – 689698
Kandampara Madom, 2. Sri Thomas Daniel,
SN Puram P O., Indikkattil, Maangaaram muri,
Cherthala – 688582 Vakayar,
3. Smt. Swetha Manoj, Pathanamthitta – 689698.
Kandampara Madom, 3. Smt.Prabha Daniel,
SN Puram P O., Additional Director/Managing Partner,
Cherthala – 688582 Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
4. Smt.Prabha Daniel,
Indikkattil, Maangaaram muri,
Vakayar, Pathanamthitta – 689698.
5. Smt. Rinu Mariyam Thomas,
Chief Executive Officer,
Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
6. Smt. Rinu Mariyam Thomas,
Aalinte Vadakkethil House,
Near S C Church,
Iringalakuda, Thrissur.
7. Sri. Mathew Varghese,
Chief Operating Officer,
Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
8. Smt.Ria Ann Thomas,
Member, Board of Directors,
Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
9. Smt.Marykutty Daniel,
Chairperson,
Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
10. Smt.Reba Mary Thomas,
Additional Director,
Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
11. Sri.Samuel Ambanatt Prakash,
Director, Popular Finance Pvt. Ltd.,
Popular Towers, Vakayar,
Pathanamthitta – 689698.
12 Sri. Thomas Daniel,
Managing Partner,
Popular Dealers and Designated Partner
My Popular Marine Products L L P Ltd.,
Mary Rani Trading LLP,
Regd Office 13/575, Popular Towers,
Vakayar, Pathanamthitta – 689698.
13. Sri. Hariharadas,
Manger,
Popular Finance No.4/180/29,
1st Floor, Cherthala Municipality Suvarna Jubilee Smaraka Shopping Complex, Cherthala – 688524.
14. Sri Hariharadas,
Govindavilasam House,
Maruthorvattam P O., Cherthala.
(Rep. Ops 13th & 14th by Adv.Jayamohan B)
O R D E R
SMT.P.R SHOLY (MEMBER)
Complaint filed under Sec.35 of the Consumer Protection Act, 2019.
1. Complainant and his wife are living with the hard earned money from their small paid job. While so they decided to save some amount in a financial institution which functions legally and offers maximum monetary benefit so that they could return the amount when demanded with interest, considering the future necessities of the education and marriage of their growing girl child. In addition to that account the complainant had got money on account of the sale of a portion of family share of the property. They, therefore, went through the advertisements of various financial institutions through various media and T.V. and also discussed the matter with several friends.
2. The Branch Manager of Popular Finance, Cherthala Sri.Hariharadas was a locally reputed person and known to the complainant, thereby he approached the complainant for depositing amount as desired by him with Popular Finance and manager described various deposit schemes and its legal authenticity and also informed about its establishment and its branches at various places across Kerala and other states. In order to convince the complainant more about the company and thereby to tempt the complainant to deposit money, the manager further described that various other activities are also carried out under the sister concerns such as Popular dealers, Popular developers, Popular printers etc and 17 other companies under the brand name of Popular are known collectively as Popular Group operated profitably by the company and all are legally registered and hence the deposits are safe. The words of the Manager influenced the complainant and finally he decided to deposit money in Popular Finance thereby he visited the branch office at Cherthala on 02/04/2018. There the manger gave a detailed description of various schemes and out of the 17 companies of Mother Company “Popular Finance” the company named “Mary Rani Trading LLP” is the best suited one for investment since the company is running more profitably than others. He offered monthly interest @ 12% to the deposit and that interest will be paid quarterly. The entire staff persuaded the complainant to deposit the amount in the said scheme of the company. Accordingly considering all the offers made by the manager being a reputed person of the locality the complainant decided to deposit an amount of Rs.1.5 lakhs on 04/04/2018.
3. The Manager accepted the amount and gave a Certificate showing the account No.as1056 dtd.04/04/2018 named “CERTIFICATE OF CONTRIBUTION TOWARDS HIS SHARE OF PARTNERSHIP IN THE LLP” in the name of the company “Mary Rani Trading LLP” signed by the designated partner Sri.Thomas Daniel. When enquired about the said writing the manager informed that if the amount is accepted as fixed deposit, only the low interest as per the RBI norms can be paid to depositors. Hence to ensure the offered 12% interest, the amount is accepted as contribution. Thereafter considering the frequent visit and request of the Manager and his attractive words about the profitable offers the complainant and his wife Sreeja deposited Rs.1.5 lakhs each on 03/10/2019 and 04/10/2019 respectively in which certificate issued in the name of MY POPULAR MARINE PRODUCTS LLP. On 17/10/2019 the complainant deposited an amount of Rs.1.5 lakhs in the name of his daughter Swetha Manoj, the certificate given was in the name of “POPULAR DEALERS”. The complainant deposited another amount of Rs.3 lakhs on 20/02/2020 in his name. The receipt in the name of POPULAR DEALERS was signed by Managing Partner, Accountant and Manager. The complainant informed the manager that the deposits are to be released on 2nd September and the same was agreed by the Manager. In the meanwhile the opposite party had been paying interest monthly/quarterly as promised at the time of deposit.
4. When the complainant reached the office at Cherthala on 2nd September for releasing the amount it was found closed. The Branch Manager (Opposite party 14) was not available over phone. Complainant came to know that the company will not open in near future due to fraud committed by the management of Popular Finance Ltd and its allied concerns and consequent arrest of Managing Director and others. The complainant preferred complaints before Sub Inspector of Police, Konni on 28/08/2020 and before the Sub Inspector of Police, Cherthala on 09/09/2020, but there has been no remedial action. Hence the complaint is filed for realizing an amount of Rs.9/- lakhs along with due interest, Rs.5/- lakhs as compensation and Rs.2/-lakhs as cost.
5. Opposite parties 1 to 12 remained exparte. Opposite parties 13 and 14 who are one and the same filed a version mainly contenting as follows:-
The complaint is not maintainable. Opposite parties 13 and 14 are the same person and is an employee of M/s Popular Finance. This opposite party has not approached the complainant. This opposite party is not a necessary party in the complaint. This opposite party has not visited the complainant and has not canvassed for fixed deposits. Complainant has not visited the branch office, Cherthala on 02/04/2018.
6. This opposite party has not accepted any amount from the complainant and not issued any certificate. One Thomas Daniel, the designated partner has issued the document. It is a certificate from M/s MARY RANI TRADING LLP. This opposite party has no connection with this company. This opposite party has not visited the complainant and persuaded to deposit any money in the institution. The certificates are issued from My Popular Marine Products LLP and Popular Dealers and this opposite party is not connected with that company. There was no negligence, lack of proper service, unfair trade practice and irresponsible behavior from the side of this opposite party.
7. The complainant is not entitled for any of the reliefs and there is no deficiency in service from the side of this opposite party. Complainant was looking for depositing the money in a financial institution offering maximum monetary benefits and selected the institution without the help of this opposite party. This opposite party is an employee of Popular Finance and the duty is only office administration of the branch. Collecting money by canvassing the public is not the part of his duty. The documents produced are not reliable. Hence it is prayed that the complaint may be dismissed with cost.
8. On the above pleadings following points were raised for consideration.
- Whether the complainant entitled to realize an amount of Rs.9 lakhs along with interest from the opposite parties as prayed for?
- Whether the complainant is entitled to realize an amount of Rs.5 lakhs as compensation for deficiency in service on the part of opposite parties?
- Reliefs and cost.
Evidence in this case consists of oral evidence of PW1 and Ext. A1 to A9 (A6 is in series) from the side of the complainant and oral evidence of RW1 from the side of opposite parties.
Point No.1 and 2
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- ചെയ്തത് ചേർത്തല Popular Finance Manager വഴിയാണെന്ന് തെളിവ് ഹാജരാക്കിയിട്ടുണ്ടോ” “ഇല്ല” Further it is to be noted that even though the signature shown in Ext A8 is admitted by RW1, the 14th opposite party it is realized that the same is only a temporary receipt of receiving a cheque towards M/s MARY RANI TRADING LLP and it also reveals that the final receipt would be issued from Head Office. In the said circumstance the 13th and 14th opposite party is not liable to repayment of the amount shown in Ext A1 to A5 to the complainant.
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In the result complaint is allowed in part.
- Complainants are allowed to realize an amount of Rs.9 lakhs along with interest @ 12% from the date of complaint till realization from opposite parties 1.3.5.7.8. 9,10 and 11jointly and severally.
- Complainants are allowed to realize an amount of Rs.1,50,000/-as compensation from opposite parties 1,3,5,7,8,9,10 and 11 jointly and severally.
- Complainants are allowed to realize an amount of Rs.5,000/- as cost.
Dictated to the Confidential Assistant, transcribed by her corrected by me and pronounced in open Commission on this the 19th day of February, 2022.
Sd/-Smt. P.R.Sholy (Member)
Sd/-Sri.S.Santhosh Kumar (President)
Appendix:-
Evidence of the complainant:-
PW1 - Sri. Manoj K S (Complainant)
Ext.A1 - Copy of Certificate of Contribution to the LLP
Ext.A2 - Certificate of Contribution to the LLP No.0006686 dtd 03.10.2019
Ext.A3 - Certificate of Contribution to the LLP No.0006668 dtd 04.10.2019
Ext.A4 - Receipt No.0155454 dtd 17.10.2019
Ext.A5 - Receipt No.0161937 dtd 20.2.2020
Ext.A6 series - Copy of the Receipt No.75 dtd 28.8.2020
Ext A6 (a) - Copy of the Receipt No.41 dtd 28.8.2020
Ext.A7 - Copy of the Receipt No.76 dtd 09.9.2020
Ext.A8 - Temporary Receipt dtd 03. 4. 2018
Ext.A9 - Copy of application form for Retirement of Partners from LLP dtd 11. 7. 2020
Evidence of the opposite parties:-
RW1 - Sri. Hariharadas
///True Copy ///
To
Complainant/Oppo. party/S.F.
By Order
Assistant Registrar
Typed by:-Br/-
Compared by:-
