Sri. P. Satheesh Chandran Nair (President):

                   The complainant filed this complaint u/s.12 of the C.P. Act 1986.

                   2. The case of the complainant is as follows.  According to the complainant the opposite parties are running non-banking financial institution as per Reserve Bank of India Act 1934.  It is contented that the complainant joint the ‘Sourakshika scheme’ with the opposite parties on the basis of an agreement by paying an amount of Rs.1,000/- as initial monthly payment which commenced on 31/03/2012 and the maturity period of the said scheme was April 2015.  According to him the complainant paid an amount of Rs.33,000/- in 33 monthly installment to the opposite parties as per the scheme.  When reducing the defaulted payment of 3 months he is eligible for an amount of Rs.37,000/- from the opposite party.  Though the complainant asked so many times for the refund of the said amount the opposite parties failed to repay any amount to the complainant.  The act of the opposite parties are clear deficiency in service and the opposite parties liable to the complainant.  Hence, the case is for refund of Rs.37,000/- along with a cost, compensation etc. 

                   3. This Forum entertained the complaint and issued notice to opposite parties for appearance.  Though all the opposite parties received notice from this Forum all of them are failed to appear before this Forum hence, this Forum declared ex parte against 1^st and 2^nd opposite party on 01/10/2018 and against 3^rd and 4^th opposite party on 16/02/2018. 

                   4. In the light of the complaint and records before us the points to be considered are:

                   1. Whether the complaint is allowable or not?

                   2. Regarding relief and cost?

                   5. In order to prove the case of the complainant, the complainant’s power of attorney holder Antony Abraham, he who filed a proof affidavit and examined him as PW1.  Though PW1 Ext.A1 to A3 were also marked.  Ext.A1 is the power of attorney.  Ext.A2 series are the receipt pay in slip (17 numbers).  Ext.A3 is the copy of pass book.  When we peruse the proof affidavit of the complainant - PW1 who depose that the complainant paid altogether for an amount of Rs.37,000/- to the opposite parties in 33 installment and inspite of his repeated request to the opposite party they failed to refund the deposited amount to the complainant.  According to him the Act of the opposite parties is clear deficiency in service against the complaint.  It is also deposed that the 3^rd and 4^th opposite parties are received the notice of this Forum but failed to appear on the scheduled date before this Forum.  When the notice of the 1^st and 2^nd opposite party where returned as – address left the complainant has taken substitute steps by pepper publication and 1^st and 2^nd opposite parties are also declared ex parte along with 3^rd and 4^th opposite party on the basis of paper publication.

                   6. Point No. 1 & 2:- For the sake of convenience, we would like to consider Point No.1 & 2 together.  In this case the evidence adduced by the complainant PW1 is unchallengeable since all opposite parties are declared ex parte.  As per Ext.A1 the complainant legally appointed PW1 as his power of attorney holder to conduct this case.  Ext.A2 series shows that the complainant paid an amount of Rs. 33,000/- to the opposite parties in 33 monthly installments.  When we peruse the 1^st page of Ext.A2 series the details of the payment and its dates can be understood.  Ext.A3 is a copy of the pass book issued by the opposite parties in favour of the complainant.  When we verify in Ext.A3 we can see that the complainant paid monthly installment to the opposite party under the ‘Sourakshika scheme’ as contented by the complainant. 

7. On the basis of the evidence adduced by the complainant we are all the view date the complainant succeeded to prove his contention against the opposite party and also find that nothing to disbelieve the credibility of the complainant’s evidence before us.  We also find that the opposite parties are directors and executive directors of Sigs Financial Services (India) Pvt. Ltd.  Therefore the 1^st to 4^th opposite parties are jointly and severally liable to the complainant.  Hence, Point No. 1 & 2 found in favour of the complainant.   

8. In the result we pass the following orders.   

1. The opposite parties are hereby directed to refund Rs.37,000/- (Rupees Thirty Seven Thousand Only) along with an interest of 10% to the complainant from the date of filing of this case i.e. 15/12/2017 onwards.

2. The opposite parties are also directed to pay a compensation of Rs.7,500/- (Rupees Seven Thousand and Five Hundred Only) along with a of cost Rs.2,500/- (Rupees Two Thousand and Five Hundred Only) to the complainant with 10% interest from the date of receipt of this order onwards.   

                          Dictated to the Confidential Assistant, transcribed and typed by her, corrected by me and pronounced in the Open Forum on this the 30^th day of October, 2018.

                                                                                             (Sd/-)

                                                                   P. Satheesh Chandran Nair,                                                                                                                                                                                                                                             

                                                                                           (President)

Smt. Sheela Jacob (Member)  :  (Sd/-)

Appendix:

Witness examined on the side of the complainant:

PW1  :  Antony Abraham

Exhibits marked on the side of the complainant:

A1 :  Power of attorney. 

A2 Series : Receipt pay in slip (17 numbers). 

A3 :  Copy of pass book. 

Witness examined on the side of the opposite parties:Nil.

Exhibits marked on the side of the opposite parties:Nil.

                                                                             (By Order)

Copy to:-

                             1. Teenu Anne Tony,

    W/o. Jaison Jasi, Santhome Cottage, Vayalathala P.O.,

Cherukol Village, Ranni Taluk, Pathanamthitta,

                                 Represented by Antony Abraham,

    S/o Late Abraham Thomas, Padinjaremannil House,

    Puthusserry South .P.O., Kalloppara Village,

    Mallappally Taluk, Pathanamthitta.

2.Vrinda Rajesh, Director,

SIGS TECH MARKETING, (SIGS FINANCIAL SERVICES(INDIA) Pvt. Ltd.), Pulickal Trade Centre,

S.H. Mount P.O., Nagampadom,Kottayam – 686 001,

Residing at: Kulangara House, Thirunakkara P.O.,

Kottayam – 686 001. (Set Ex parte on 01.10.2018 )

3.Rajeev. K.N,

S/o. Narayanan, Executive Director,

SIGS TECH MARKETING, (SIGS FINANCIAL SERVICES

(INDIA) Pvt. Ltd.), Residing at: Kulangara House,

Thirunakkara P.O., Kottayam – 686 001.

(Set Ex parte on 01.10.2018)

4. Sandhya K.V,

W/o. Rajeev K.N, Executive Director,

SIGS TECH MARKETING, (SIGS FINANCIAL SERVICES (INDIA) Pvt. Ltd.), Residing at: Kunnathuparambu,

Chakkaraparampu, Thammanam P.O., Kochi – 682 032.

(Set Ex parte on 16.02.2018)

5. George Vazhappally Thomas,

Director, SIGS TECH MARKETING, (SIGS FINANCIAL SERVICES (INDIA) Pvt. Ltd.), Vazhapally House,

Vasantha Nagar, Elthuruth P.O., Thrissur – 680 611.

(Set Ex parte on 16.02.2018)

6. The Stock file.