CC No.2166.2014

Filed on 19.12.2014

Disposed on:21.08.2017.

BEFORE THE III ADDITIONAL BANGALORE URBAN DISTRICT

CONSUMER DISPUTES REDRESSAL FORUM,

BANGALORE – 560 027

DATED THIS THE 21^st DAY OF AUGUST 2017

CONSUMER COMPLAINT NO.2166/2014

PRESENT:

Sri.  H.S.Ramakrishna, B.Sc., LL.B.

                           PRESIDENT

                   Smt.L.Mamatha, B.A., (Law), LL.B.

                          MEMBER

                                          V/S

ORDER

BY SMT.L.MAMATHA, MEMBER

1. This complaint was filed by the Complainant on 19.12.2014 u/s 12 of the Consumer Protection Act, 1986, and praying to pass an order directing the Opposite Party to pay to the Complainant No.1 Principal amount of Rs.50,000/-  interest at 18% for the delayed period starting 10.08.2014 (Approx. Rs.3,750/-) against FDR 1233899 and directing Opposite Party to pay to Complainant No.2 Principal amount of Rs.2,00,000/- interest at 18% p.a. for the delayed period starting 18.10.2014 (Approx. Rs.9,000/-) against FDR 1242715 and direct the Opposite Party to pay to the Complainant No.3 Principal amount of Rs.2,00,000/- interest at 18% p.a. for the delayed period starting 18.10.2014 (Approx. Rs.9000/-) against FDR 1242712.

2. The brief facts of the complaint can be stated as under:-

 In the complaint, the complainants states that she invested Rs.50,000/- with Opposite Party.  The FDR No.1233899 maturity dt.10.08.2014 and 2^nd complainant invested Rs.2,00,000/- with Opposite Party, the FDR No.1242715, maturity date 18.10.2014 and 3^rd complainant invested Rs.2,00,000/- the FDR No.1242717, the maturity date 18.10.2014, the Complainants submitted that above mentioned FDRs with the Opposite Party to make payment of maturity amount including the Principal and the Interest.  The Complainants further submitted that FDR’s with the Opposite Party well ahead of maturity date to make payment of maturity amount including the Principal and the Interest.  During the maturity date of the above FDRs the Complainants received only the interest warrants and not the principal amounts.  The Complainants constantly follow-up with Unitech Limited (Opposite Party) through emails and phone calls.  The emails are never responded to and calls are never picked up.  An employee of the Opposite Party picked up our calls twice so far only to say that he has no clue on when the principal repayment shall be made.  His point however is that an interest at the rate of 18% p.a. would be paid along with payment, while asking him to write in emails, he refused to do. The Complainants wrote an email on 06.11.2014.  Till date 18.12.2014 neither an update nor the cheques for principal amount is received.  In parallel, the Complainants were constantly touch with the broking firm Bajaj Capital, through whom they made these investments.  Bajaj Capital follow-up their matter with Opposite Party, only to state that the payments would be made soon.

3. The Complainant No.1 submits that the Complainant No.2 is a Senior Citizen has a serious medical condition with respect to his spinal cord and they are in urgent fund requirements too for his treatment which involves a surgery.  The Complainants explained same with Opposite Party.   But no response.  The Complainants submits that they spend their hard earned money.  They were worried about loss of money.  But the Opposite Party never responded to repay.  Hence, this complaint.

4. Even though notice was served on the Opposite Party No.1 and 2, fails to put their appearance, hence placed ex-parte. 

5.   In support of the complaint, the Complainant No.1 has filed her affidavit by way of evidence.  Heard the arguments of the Complainants.

 6.     Now the points that arise for consideration are:-

1. Whether the Complainants have proved the alleged deficiency in service by the Opposite Party?
2. If so, to what relief the Complainants are entitled?

 7.    Our findings on the above points are:-

                POINT (1):- Affirmative

                POINT (2):-As per the final Order

REASONS

8. POINT NO.1:- On perusing the pleadings along with documents produced by the Complainants, it reveals that the Opposite Party is a Private Limited Company.  The Complainant No.1 invested Rs.50,000/- with Opposite Party and 2^nd Complainant invested Rs.2,00,000/- with Opposite Party and 3^rd Complainant invested Rs.2,00,000/- with Opposite Party.  It is supported by the FDR receipts.  To substantiate this fact, the Complainant No.1 filed her affidavit.  In her sworn testimony, she has reiterated the same and also in support of her sworn testimony, she produced FDR receipts and emails.  By looking into these documents, it clearly shows that the Complainant No.1 deposited Rs.50,000/- on 09.08.2013 maturity date is on 10.08.2014 interest 11.50% p.a. The FDR number is 1233899 and Complainant No.2 deposited Rs.2,00,000/- on 18.10.2013 maturity date 18.10.2014 interest 11.50% p.a.  The FDR number is 1242715 and the Complainant No.3 deposited Rs.2,00,000/- on 18.10.2013 maturity date 18.10.2014 interest 11.50% p.a.  The FDR number is 1242717.  During the maturity date of the FDRs the Complainants received only interest warrants and not the Principal amounts.  The Complainants continuously showing the Opposite Party and contacted the Opposite Party through emails.  But the Opposite Party never responded the emails.  The Complainants were contacted agent/broker i.e., Bajaj Capital through which they made deposits.  The Complainants contacted further through emails.  But Opposite Party neither replied nor fulfill the demand of the Complainants.  By all these it is very clear that the Opposite Parties failed to refund the FD amount infavour of the Complainants.  This evidence also remains unchallenged.  Therefore, from the evidence available on record, it clearly goes to show that the Opposite Parties have not rendered good service to the Complainants.  This fact is clear by looking into the various mail correspondences.  If at all, the Opposite Parties have rendered good service i.e., refunded Principal amount with interest to the Complainants as per their Company terms and conditions, the Opposite Parties ought to have produced relevant evidence.  But there is no such evidence.  Therefore, it is proper to accept the contention of the Complainants that the Opposite Parties have neither gave interest nor refunded the Principal amount in favour of the Complainants.  Due to the deficient act of Opposite Parties the Complainants suffered mental agony and financial loss, the Complainant No.2 is a Senior Citizen suffered from spinal cord problems.  The Complainants finally wrote email on 06.11.2014.  But the Opposite Party neither replied the email nor fulfill the demand of the Complainants.  To disbelieve the version of the Complainants, nothing was on record.  In spite of repeated requests, the Opposite Parties never bothered to fulfill the demand of the Complainants, thereby this clearly shows that there is deficiency in service on the part of the Opposite Parties.  Hence, this point is held in affirmative.   

9.  POINT NO.2:- In the result, for the foregoing reasons, we proceed to pass the following:

ORDER

The Complaint is allowed holding that there is deficiency of service on the part of the Opposite Parties.

The Opposite Parties are directed to refund Rs.50,000/-, Rs.2,00,000/- and Rs.2,00,000/- along with interest at 11.5% p.a. from the date of payment till the date of realization.

The Opposite Parties are further directed to pay Rs.50,000/- as compensation for causing mental agony.

The Opposite Parties are further directed to pay Rs.5,000/- as cost of this Litigation to the Complainants.

The Opposite Parties are granted 30 days’ time from this date to comply this Order.

Supply free copy of this order to both the parties. 

(Dictated to the Stenographer, got it transcribed, typed by her/him and corrected by me, then pronounced in the Open Forum on 21^st day of August 2017).

      MEMBER                                                   PRESIDENT         

LIST OF WITNESSES AND DOCUMENTS

Witness examined on behalf of the Complainant:

1. Sri.Karpagam S, who being Complainant No.1 has filed his affidavit.

List of documents filed by the Complainants:

1. Copy of Fixed Deposit Receipts dt.19.08.2013, 24.10.2013
2. E-mail correspondences

Witness examined on behalf of the Opposite Party:

-NIL-

List of documents filed by the Opposite Party:

                                  -NIL-

MEMBER                                              PRESIDENT