BEFORE THE STATE CONSUMER DISPUTES REDRESSAL COMMISSION OF TELANGANA AT HYDERABAD RP.NO.70 OF 2024 AGAINST THE ORDERS IN IA 104 OF 2024 IN CC.NO.124 OF

2024, DISTRICT CONSUMER COMMISSION ADILABAD Between:

1. Kanakadurga Chit Fund Pvt. Ltd., Rep. by its Directors namely i. Thirupathaiah Ragidi, S/o.Mallaiah Ragidi Age: Major, Occ: Director of Kanakadurga Chit Funds Pvt., Ltd., R/o Flat No.107, Royal Enclave, Opp: Tejaswi High School, Nayeemnagar, Hanmakonda-506001.

ii. Adi Reddy Pendyala, S/o Sammi Reddy Pendyala, Aged: Major, Occ; Director of Kanakadurga Chit Fund Pvt., Ltd., R/o. H.No.2-178, Shambhunipally, Kamalapoor, Mandal, Huzurabad-505102.

Office Address of Opposite Party Nos. 1 & 2:

Office situated at H.No.5-11-503 & 504, 1st Floor, Kanakadurga Gateway, KUC Junction, Hanmkonda, Warangal-506009.

2. Kanakadurga Chit Fund Pvt. Ltd., Rep. by its Manager, Office situated at H. No.7-2-14 & 7-2-14/1/B, 1st Floor, Beside Bus Stand, Vidyanagar, Adilabad-504001.

Both Petitioner Nos.1 & 2 are rep. by its Manager (legal)

N. Ramesh, S/o Komaraiah, aged about 38 years, R/o. Nallakunta, Hyderabad.

…….Petitioners/Respondents/OP.Nos.1 & 2 And

1. Raipelly Ramesh, S/o Vasanth Kumar, Age: 51 years, Occ:

Charted Accountant, R/o H.No.7-7-44/5, Vidyanagar, Adilabad.

2. Govt. of Telangana, Rep. by its Registrar of Chits, O/o District Registration Office, Besides Shravya Nursing Home, Vidyanagar on service road of Old N.H. No.7 road, Adilabad.

3. DBS Bank, Hanumakonda Branch, Rep. by its Manager, Office situated at D.No.2-5-837, Circuit House road, Hanamkonda, Warangal-506001. …..Respondents/Complainant/OP.Nos. 3 & 4 Counsel for Petitioners/Respondents/Opposite parties1&2: M/s N.Amarnath Counsel for Respondent No.1/Complainant: Sri Vijay Kumar Counsel for Respondent No.2&3/Opposite Party No.3&4: Notice served QUORUM:

HON’BLE SMT MEENA RAMANATHAN, I/c PRESIDENT &

HON’BLE SRI V.V.SESHUBABU, MEMBER-JUDICIAL MONDAY, 23^rd DAY OF JUNE TWO THOUSAND TWENTY FIVE ******

Order: (HON’BLE SRI V.V.SESHUBABU, MEMBER-JUDICIAL)

01. This is a revision petition filed by the petitioners/opposite parties praying this Commission may be pleased to set aside the order dated 28.10.2024 in IA 104/2024 in CC 124/2024 passed by the District Consumer Commission, Adilabad.

02. The brief averments of the petition in IA 104/2024 filed by the complainant are that the he is subscriber of the chit of the opposite party in the registered chit group No.KADT04M for sum of Rs.10,00,000/- in 50 monthly installments at Rs.20,000/- per month commencing from October 2018; that he was regular in the payment of installments after adjusting the dividend; that he became prized bidder and even furnished sureties and executed the guarantee bond, besides demand promissory note to receive the bid amount, but the opposite parties 1 & 2 not paid the bid amount despite several requests; that opposite parties issued 04 post-dated cheques towards the prized amount; that on the request of opposite party the cheques were not presented on the dates, they bear to en-cash the same; that on 04.06.2024 the opposite party No.3 informed online to present the cheques for collection on 12.06.2024; that on presentation one cheque bearing no.005060 was returned with an endorsement of ‘account blocked’ and other three cheques was returned with an endorsement of ‘account closed’; that due to the dishonor of cheques the complainant suffered physically, mentally to financially; that the opposite parties 1&2 deposited the amount before the Chit Registrar relating to the chit group No.KADT04M by way of FDRs issued by the opposite party No.4; that still the FDRs to the tune of Rs.1,00,00,000/- are not en-cashed; hence, the petition to attach one crore amount and direct the OP.No.4 not to release the FDR amounts in favour of OPs 1 & 2 till the realization of prized bid amount of Rs.9,83,360/- in favour of complainant.

03. The OPs 1 & 2 filed the counter stating that the petition is not maintainable either on facts or under law; that the