K. RANGA RAO, R. S. RAJESHREE
M. Nagamalleshwar Rao – Appellant
Versus
Neeladri Chit Fund Pvt. Ltd. – Respondent
ORDER
R.S. Rajeshree, Member-Non-Judicial—This is a complaint filed by the Complainant u/s. 17(1)(a)(i) of Consumer Protection Act, 1986 on 14.6.2016 against the opposite party to direct it as follows:—
i. To pay the bid amount covered under the chit series no.20L-3LP/9 with interest @ 24% p.a. from the date of auction;
ii. To pay damages of Rs.2,00,000/- for causing mental agony to the complainant; and
iii. To pay Rs.5,000/- towards costs.
2. The brief facts of the case are:
The complainant became a chit member in chit series no.20L-3LP/9 being run by the opposite party for an amount of Rs.20 lakhs which is payable in 40 instalments @ Rs.50,000/- per month after foregoing the dividend amount. The said chit commenced on 31.3.2011 and he had paid the instalments by way of cheque or cash regularly without there being any default; that on 24.6.2014 he has become a successful bidder and as per the agreement, the opposite party was supposed to deduct commission of Rs.1 lakh and to pay Rs.19 lakhs to the complainant; that he had completed all the formalities and signed on all the documents as per the directions of the opposite party, but till date the opposite party had not paid the
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