Complaints filed on: 04-03-2024

                                                      Disposed on:20-11-2024

BEFORE THE DISTRICT CONSUMER DISPUTES

REDRESSAL COMMISSION, TUMAKURU

+

DATED THIS THE   20^th  DAY OF NOVEMBER, 2024

::P R E S E N T::

   SMT.G.T.VIJAYALAKSHMI, B.Com, L.L.M, ….....PRESIDENT

    SMT.NIVEDITA RAVISH, B.A., L.L.B. (Spl)., .LADY MEMBER

CONSUMER COMPLAINT No. 38/2024

       Smt.Vidya S,

       W/o. Badari Prasad J,

       No.495, Sri Lakshmi Venkateshwara Nilaya,

       6^th Cross, Gubbi Veeranna Road,

       SIT Extension,Tumakuru- 572 103.

       Karnataka.

……….Complainant

         (Party In person)

V/s

1. SRI. VALMIKA SOUHARDA CO-OPERATIVE LTD,

Above Uppena Kolaga Okkaliga VidyathriNilaya,

SIT Extension Main Road,

Tumkur-572103.

2. Sri.G.Ramanjanya, President,

SRI. VALMIKA SOUHARDA CO-OPERATIVE LTD,

Above Uppena Kolaga Okkaliga Vidyarthi Nilaya,

SIT Extension Main Road, Tumkur – 572103.

3. Smt.Bhavya,

Chief Executive Officer,

SRI VALMIKA SOUHARDA CO-OPERATIVE LTD,

Above Uppena Kolaga Okkaliga Vidyarthi Nilaya,

       (OP No.1 to 3 Sri. B.S.Yogeesh, Advocate.,)  

                                                 ::O R D E R ::

SMT.NIVEDITA RAVISH, LADY MEMBER

          This complaint filed by the complainant Under Section 35 of Consumer Protection Act, 2019 against the opposite parties to direct  them to pay sum of Rs.1,18,666-00 to the complainant.

2.  The opposite party No.1 is Sri. Valmika Souharda Co-Operative Ltd, Tumkuru (herein after called as OP.No.1) Opposite party No.2 is the President of the OP.No.1 (herein after called as OP.No.2) and opposite party No.3 is the Chief Executive Officer of the OP.No.1 (herein after called as OP.No.3).

3.      The case of the complainant is that, the complainant is the resident of Tumkur having fixed deposit accounts in the OP.No.1 Souharda      Co-Operative Ltd. The complainant having fixed deposit receipts vide No.193 dated 14^th August 2017 for Rs.83,666-00 with maturity date 14^th November 2024 and F.D. account No.10106600000536, receipt No.10100539 dated 26^th December 2018 for Rs.35,000-00 with maturity date 26^th  December 2025. The complainant was requested the OP.No.2 and 3 to release the pre maturity amount of the above said FD receipt, but the OP.No.2 and 3 were denied for payment due to shortage of funds and on 20^th July 2023 the OP.No.2 and 3 were requested the complainant to wait for some days for arrangement of funds. Though the complainant issued the legal notice to the OPs. The OPs have not paid/release the value of pre matured fixed deposits amount of the complainant. Hence this complaint.

4.       After issuing of notice by this Commission, the OP No.1 to 3 were appeared before this Commission through their common counsel and filed common version. 

5.       In the version, the OP.No.1 to 3 are admitted about FD (Fixed Deposit) bonds, the maturity date and maturity amount. But denied all other allegations made by the complainant as false. Further submitted that the complainant has drawn the interest amount of the said F.D. receipts through her savings Bank Account till 28^th March 2024 and the complainant claiming excess amount for pre-mature amount which is false. Hence OP.No.1 to 3 are prayed for dismissal of the complaint.

6.   The complainant has filed her affidavit evidence with 6 (six) documents. The OP.No.1 to 3 have not filed their affidavit evidence.    

7.    We have heard the arguments of complainant in person. By giving the several opportunities the OP.No.1 to 3 failed to address their arguments. We peruse the complaint, version and documents filed by the complainant and points would arise for determination as follows:-

1. Whether the complainants have proved there is deficiency in service on the part of the OPs?

2. What order?

   8.  Our findings on the aforesaid points are as under:-

1. Point No.1:- Partly Affirmative
2. Point No.2:- As per final order.

                                       :: REASON::

Point No.1 and 2:

9.  The complainant has argued that she is having F.D. receipts which are deposited in the OP.No.1 Souharda Co-Operative Ltd vide No.193, 10100539 and the maturity amount of said deposits are Rs.83,666-00 and Rs.35,000-00 respectively. To prove the same the complainant has produced the two copies of the fixed deposit receipts. Copy of one F.D. receipt as reflecting Account No.10106600000536, receipt No.10100539, Amount 35,000-00, Accepted date 26-12-2018, Maturity date 26-12-2020. The same copy is further establishing that the  F.D is renewed from 20-01-2021 to 26-12-2022 and from 26-12-2022 to        26-12-2025 and renewal amount showing as Rs.35,000-00. Maturity value is reflecting as MIS. Hence the receipt No.10100539 is establishing that there is principle amount of Rs.35,000-00 in the F.D receipt No. 10100539. Another copy of F.D. receipt produced by the complainant is reflecting that Account No.193, Receipt No.193, Amount Rs.35,000-00, Maturity value:46,370-00, Accepted date:14/08/2017, Maturity date:14/11/2019. Further same copy is establishing that the same F.D amount is renewed from 02-12-2019 to 14-11-2021 and from 05-01-2022 to 14-11-2024. Same copy is reflecting renewed amount Rs.46,370-00 as on  02-12-2019 and maturity amount is Rs.59,543-00 as on 14-11-2021. Further reflecting as maturity value is Rs.59,543-00 as on 05-01-2022 and maturity value is Rs.83,666-00 as on 14-11-2024. These receipts also having seal and signature of OP.No.1 to 3.  Therefore it is considered that there is the deposited principle amount is   Rs.59,543-00 for the F.D. receipt No.193 as on 05-01-2022.   

10.    Further the complainant in person has argued that, she has requested the OP.No.2 and 3 for pre maturity value of the above F.D. receipts, but was denied by the OP.No.2 and 3 for payment due to shortage of funds and OPs requested with the complainant to wait for some days for arrangements of funds. Further the complainant has contended that, though the complainant issued a notice to the OPs on  02-02-2024, the OP.No.1 to 3 have not paid the pre-matured F.D amount to the complainant. The copies of notice issued dated 02-02-2024, postal receipts, postal acknowledgements establishes the above arguments of the complainant.

11.    In the version, the OP.No.1 to 3 have submitted that the complainant has received the interest on said F.D. receipts through her SB account in the OP.No.1 up to 28^th March 2024. In the time of arguments, the complainant also admitted the same. Therefore it is considered that the complainant is eligible to get only principle amount in the said F.D receipts. Customers have been deposits their savings in the Co-Operative Societies/banks, for the use in their hard times and it is the duty of the banks or Co-Operative Societies to release the eligible amount when they want. Copy of notice issued to OP.No.2 and 3 on     02-02-2024 establishes that complainant approached for amount which is in F.D receipts in the OP.No.1. Being authorized persons it is the duty of OP.No.2 and 3 to release/pay the eligible hard earned money of the complainant when she wants to withdraw the amount. The OP.No.1 to 3 were not released/paid the principle amount of the F.D receipts of the complainant. This act of the OP.No.1 to 3 is amounts to deficiency in service on the part of the OP.No.1 to 3. Therefore the OP.No.1 to 3 are liable to pay the principle amount of F.D. receipt No.10100539 and 193 to the complainant.  

12.   The complainant prays for sum of Rs.1,18,666-00. But complainant herself admitted that she has received interest on the F.D receipts to her SB account upto 28^th March 2024. Therefore the principle amount of F.D. receipts calculated as Rs.35,000-00 (pertaining to F.D. receipt No.10100539) + Rs.59,543-00 (pertaining to FD receipt No.193)             = Rs.94,543-00. But on perusing the order sheet, on 09-08-2024 the complainant has herself reported that she has received Rs.50,000-00 from the OP and she has surrendered the Original F.D. bond pertaining to F.D receipt No.193. Further the complainant has produced the copy of acknowledgement of surrender of the F.D. receipt No.193. The same copy is reflecting the sign and signature of OP.No.3 and the complainant and the same copy is establishing that the OP.No.3 has received original F.D. bond pertaining to F.D receipt No.193. Therefore, when the complainant has received Rs.50,000-00 from OP.No.1 to 3 on               05-08-2024, then  the complainant is eligible to get Rs.88,543-00(-) Rs.50,000-00= Rs.44,543-00 from OP.No.1 to 3. Therefore the OP.No.1 to 3 are liable to pay Rs.44,543-00 to the complainant with interest @ 8% p.a. from the date of complaint, i.e., 04-03-2024 to till realization. Further the OP.No.1 to 3 are compelled the complainant to approach the Commission. Therefore the OP.No.1 to 3 shall liable to pay litigation cost of Rs.5,000-00 and compensation of Rs.5,000-00 to the complainant. Accordingly we proceed to pass the following:-  

                                              :O R D E R:

The complaint filed by the complainant is allowed in part.

It is directed that the OP.No.1 to 3 are jointly and severally shall pay Rs.44,543-00(Rupees Forty Four Thousand Five Hundred and Forty Three only) to the complainant with interest @ 8% from 04-03-2024 to till realization.

Further it is directed that the OP.No.1 to 3 are jointly and severally shall pay compensation of Rs.5,000-00 (Rupees Five Thousand Only) and litigation cost of Rs.5,000-00(Rupees Five Thousand Only) to the complainant.

Further it is also directed that the OP.No.1 to 3 shall comply the above order within the 45 days from the date of receipt/knowledge of this order.