KERALA STATE FINANCIAL ENTERPRISES LTD. Vs. T.M.RAGHUNATHAN
LAWS(KERCDRC)-2010-3-16
KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on March 08,2010

KERALA STATE FINANCIAL ENTERPRISES LTD. Appellant
VERSUS
T.M.Raghunathan Respondents

JUDGEMENT

K.R.UDAYABHANU,PRESIDENT - (1.) The appellant is the opposite party/KSFE in OP102/2000 in the file of CDRF, Wayanadu. The appellant is under orders to pay a sum of Rs. 50,000 as compensation and also to provide the other benefits and also to pay a sum of Rs. 1,000 as cost.
(2.) The case of the complainant is that he was a subscriber of chitty No.7/99 with a sala of Rs. 2,00,000 with 40 instalments of Rs.5000 each. He had given a proxy to the appellants authorizing to bid the chitty with up to a deduction of Rs.60,000 i.e. 30%. He was in direct need of money. Whenever he approached the opposite parties he was told that they could not bid successfully in favour of the complainant. In September 1999 he intimated the opposite party that he no longer required the amount and instructed to cancel the proxy. On 28.1.2000 when he went to enquire about the balance amount in his sugama account, one of the staff asked him to execute the cancellation of his proxy in writing, representing that it is only a formality. Subsequently on 31.1.2000 he received a letter informing him that he has prized the chitty as early as 16.11.1999 with a discount of Rs.60,000. According to him the appellant has misused the proxy to the disadvantage of the complainant. There is delay inordinate delay in intimating the prizing of the chitty. He sought for compensation of Rs.1,00,000 with interest.
(3.) The opposite parties/appellants has denied the allegations. According to them the entire case is a fabricated one. It is alleged that the complainant came to know that the bidding of chitty on 16.12.99 was for a discount of: only Rs. 10,050 whereas on 16.11.99 the discount amount was Rs. 60,000 i.e. 30% of the sala and hence he has raised the above contentions.;


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