DWARKADHISH CHITS PVT LTD Vs. SANJU RAM AGGARWAL

JUDGEMENT

(1.) THIS is an appeal against the Order dated 16th October, , 1992 passed by the State Consumer Disputes Redressal Commission, Delhi in Case No. C-294/91 on the complaint filed by the present Respondent-Sanju Ram Aggarwal. The complaint was against the present Appellants M/s. Dwarkadhish Chits Pvt Ltd. and its Director-Dalip Kumar. The facts as gathered from the record are that in February, 1988 Dalip Kumar-Opposite Party induced the Complainant to become a subscriber/member for chit No. D-4 being run by the Opposite Party for the total value of Rs. 90,000/- having 3(members. The monthly subscription was Rs 3,000/-for 30 months' period. The Complain ant started paying instalments w.e.f. March 1988 and up to September, 1989 he paid Rs 41,700/-in all. Besides that amount the Opposite Parties had been adjusting dividend of Rs 900/- per month in the amount of the Complainant except with respect of instalment Nos. 1 and 6. In this way Rs. 15,300/- have become due to the Complainant on account of dividend. Under the Madras Chit Fund Act and the Rules thereunder as applicable to the Union Territory of Delhi the Opposite Parties were bound to inform the Complainant about the date and time for draw of the chit but the Opposite Parties never informed the Complainant about that fact. The Complainant had been paying the instalments amount to the Opposite Parties in good faith. Thus they have violated the agreement as well as the provisions of the said Act and Rules. In October, 1989 the Complainant got suspicious of the malafide intention of the Opposite Parties and contacted the Opposite Party-Dalip Kumar to refund the amount paid so far but the Opposite Parties refused to pay back the deposited amount. The Complainant thereupon served notice dated 5.6.1991 on the Opposite Parties through his Counsel asking for the refund of the amount but to no effect. The amount of instalment paid and dividend accrued comes to Rs. 67,000/-. According to the Complainant he is a businessman and had he not been induced to part with that money by the Opposite Parties then certainly he would have invested the said amount in his business and would have at least made VA times to the amount invested in the chit within the period 3te years. Thus the Complainant claimed compensation/damages to the tune of Rs. 42,297/ -. According to the Complainant, he is entitled to Rs. 1,26,895/- in all on account of principal amount, interest, dividend, compensation/damages with further interests till realisation of the said amount from the Opposite Parties.

(2.) THE Opposite Parties contested the claim and denied the plea of the Complainant that he was not intimated about the date and time of the various auctions held by them. According to the Opposite Parties they had been sending intimation card during the first week of every month by post. They admitted about the factum of demand made by the Complainant for the refund of the amount but averred that the Complainant was told that he could be paid back after making a deduction of 5% of the chit amount or 25% of the net contribution which ever was less and as such the Opposite Party was liable to pay only Rs. 32,100/-. The said amount was payable only after the termination of the chit or when the substituted subscriber becomes prized subscriber whichever is earlier. The Complainant refused to accept the above amount of Rs. 32,100/- and asked for the immediate payment of the entire amount. It is also the case of the Opposite Parties that the Complainant had given guarantee for chit payments made to Maninder Pal Bel, Mahesh Kumar Sharma and one Subhash Chand Saini who are all prized subscribers of other chit groups and as per these guarantees the amount paid by the Complainant stood pledged to the Opposite Parties. All the abovenamed persons for whom the Complainant was guarantor, were defaulters of the Opposite Party-Company and as such the amount due to the Complainant has been adjusted towards the part payment recoverable from those defaulters.

(3.) IN view of the above findings the State Commission directed the Opposite Parties to pay an amount of Rs. 52,500/- with interest at the rate of 15% from 1st October, 1989 till the date of payment within a period of 60 day s from the date of the order. Feeling aggrieved of that order the Opposite Parties have come before this Commission by way to this appeal.