Complaints filed on: 04-10-2021

                                                      Disposed on: 07-03-2022

BEFORE THE DISTRICT CONSUMER DISPUTES

REDRESSAL COMMISSION, TUMAKURU

CC.No.78/2021

DATED THIS THE 7^th DAY OF MARCH, 2022

PRESENT

SRI.KUMARA.N, B.Sc. (Agri), MBA, L.L.B, PRESIDENT (I/c)

SMT.NIVEDITA RAVISH, B.A., L.L.B, LADY MEMBER

Complainant: -

Muniraju

S/o Venkataraju,

Aged about 68 years,

Resident of Sri Sai Nilaya,

Near Pump House, 5^th Cross,

Siddaganga Extension, Tumkur

(By Sri. Manjunatha.S, Advocate)

V/s

Opposite parties:-    

1. The President

Sri Vinayaka Souharda Pattina Sahakari Niyamitha, behind Dwaraka Hotel, M.G. Road, Lakshmiram building, Tumkur

2. Vice President

Sri Vinayaka Souharda Pattina Sahakari Niyamitha, behind Dwaraka Hotel, M.G. Road, Lakshmiram building, Tumkur

3. The Secretary,

Sri Vinayaka Souharda Pattina Sahakari Niyamitha, behind Dwaraka Hotel, M.G. Road, Lakshmiram building, Tumkur

4. B.N.Puttanarasareddy,

S/o late B.N.Narayanareddy,

Aged about 55 years,

Ex-President,

Sri Vinayaka Souharda Pattina Sahakari Niyamitha, behind Dwaraka Hotel, M.G. Road, Lakshmiram building, Tumkur

R/at “Siri Nilaya” Hanumanthapura

SSMC post, Bellavi hobli, Tumakuru Taluk and District

5. Radha.T.R

W/o B.N.Puttanarasareddy,

Aged about 51 years,

Ex. Director,

Sri Vinayaka Souharda Pattina Sahakari Niyamitha,

Behind Dwaraka Hotel, MG Road, Lakshmiram Building, Tumakuru

R/at “Siri Nilaya” Hanumanthapura village, SSMC post, Bellavi hobli, Tumakuru Taluk and District

(OP Nos.1 to 5- Exparte)

ORDER

SMT.NIVEDITA RAVISH, LADY MEMBER

This complaint was filed under Section 35 of Consumer Protection Act, 2019 to direct the Opposite Parties (hereinafter called as OP Nos.1 to 5) to return the FDs bonds amount of Rs.6,00,000-00 with accrued interest @ 11% p.a. as per the terms of FDRs,  interest accumulated in SB account of complainant bearing no.714 and to pay damages of Rs.2,00,000-00 for deficiency of service and cost of complaint.

2. It was the case of complainant on 23-3-2016 the complainant deposited Rs.2,00,000-00, Rs.2,00,000-00 and Rs.2,00,000-00 under FDs bearing no.309/CF No.382, FD bond No.308/CF No.381 and No.307/CF No.380 respectively in the OPs society and said FDs matured on 23-9-2017. Further the complainant submits that the said FDs renewed for 3.5 years accordingly maturity date was 23-3-2021, the OP transferred the interest to saving account of complainant. After the maturity of the said FDs the complainant has approached the OP society to refund the FDs amount of Rs.6,00,000-00 with accrued interest @ 11% p.a., but the OPs had given evasive answer. Despite issued legal notice the OPs not complied nor replied hence, this complaint.

3. After registering the complaint, notice issued to the OP Nos.1 to 5, but OPs have refused to receive the notice hence, they have placed exparte.

4. The complainant has filed his affidavit and produced documents which were marked as Ex.P1, Ex.P1 (a), Ex.P1 (b), Ex.P2 and Ex.P3.

5. We have heard the oral arguments of learned counsel for complainant and points that would arise for determination are as under.

1. Whether the complainant proves the deficiency on the part of OPs not releasing the FD amount with accrued interest after the maturity date?
2. Is complainant entitled to the reliefs sought for?

6. Our findings on the aforesaid points are as follows:

Point No.1: In the affirmative  

Point No.2: As per final order for the below

REASONS

7. Point No.1 and 2: The learned counsel for the complainant submitted that the OPs have failed to return the FD amount along with accrued interest. Further the complainant in his affidavit has reiterated the averments of complaint.

8. The complainant has produced documents which are marked as Ex.P1, Ex.P1 (a) and Ex.(b)/copy of fixed deposit receipts dated 23-3-3016 bearing Nos.307, 308 and 309 for Rs.2,00,000-00, Rs.2,00,000-00 and Rs.2,00,000-00 respectively which were signed by the Secretary, Vice-President and President of the OP Society,  which proves that the complainant has deposited Rs.2,00,000-000, Rs.2,00,000-00 and Rs.2,00,000-00 on 23-3-2016 and maturity date was on 23-9-2017. Further the complainant has produced Ex.P2 which was statement of account of complainant issued by the OP society and Ex.P3 which was Aadhar card of complainant. Further the complainant produced requisition letter dated 22-9-2021 issued to the OP society to return the FD amount with accrued interest, but the OP society though have served notice, did not respond nor returned FD amount with accrued interest. The OPs have agreed to give interest @ 11% p.a. on the FD amount. At present bank rate of interest has come down as such the complainant is entitled to interest @ 8% p.a. on the amount payable by OPs. The OPs have committed deficiency of service in not returning the amount deposited by the complainant. The OPs have compelled the complainant to approach this Commission thereby the complainant suffered mental agony and for that the OPs shall pay compensation of Rs.5,000=-00 and litigation cost of Rs.5,000-000. Accordingly, we proceed to pass the following.

ORDER

The complaint is partly allowed with costs.

The OP Nos.1 to 5 are jointly and severally directed to pay Rs.6,00,000-00 (FD No.3079 amount of Rs.2,00,000-00, FD No.308 amount of Rs.2,00,000-00 and FD No.309 amount of Rs.2,00,000=00) to the complainant with interest @ 8% p.a. from 23-3-2016 till the date of payment.

It is further ordered that the OP Nos.1 to 5 are  jointly and severally shall liable to pay litigation cost of Rs.5,000=00 and compensation of Rs.5,000=00 to the complainant within 45 days from the date of this order. Otherwise, it carries interest at the rate of 8% per annum from the date of filing complaint till the date of realization.

Furnish the copy of order to the complainant and opposite parties at free of cost.

          (Dictated to the Stenographer, got it transcribed, corrected and then pronounced in the Open Commission on this the 7^th day of March, 2022).

LADY MEMBER                                PRESIDENT (I/c)