FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Sahara Q Shop Unique Product Range Ltd. is a Financial Institution. Complainant invested Rs. 2,23,850/- to the OP-2 on 19.07.2012. OP-2 issued certificate bearing No. 562014038497 to the complainant. Despite maturity the OPs 2 and 3 did not refund the maturity amount of the said certificate. Notice was issued to the OPs claiming the refund maturity amount. Such notice was unattended. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OPs.
In view of the gross deficiency in service and unfair trade practices of the OPs, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
Despite service of complaint, the OPs did not turn up to contest the case by filing WV within the statutory period as provided CP Act, 2019. Thus, the case runs ex parte against the OPs 2 and 3. The case against OP-1 SEBI is expunged vide order dated 22.02.2022.
Complainant has filed his evidence supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of his case. Despite given opportunities the OPs 2 and 3 failed to file their WV.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 2,23,850/- to the OP-2 against certificate bearing No. 562014038497 dated 19.07.2012. Despite several request and notice OPs 2 and 3 did not pay the matured amount to the complainant. OPs 2 and 3 are fully aware that they are liable to pay the matured amount to the complainant on its maturity. Complainant invested his hard earned money with the OPs 2 and 3. The OPs 2 and 3are deliberate to make illegal gains and to deprive the complainant from his lawful right. In fact, the OPs 2 and 3 withhold the maturity amount which no doubt deceitful manner of trade.
OPs 2 and 3 have not filed their WV denying the allegations made in the complaint petition. Complainant in his affidavit did support the allegations made out in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OPs 2 and 3. The act of the OPs 2 and 3 is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested his money to the OPs 2 and 3, he would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. In these circumstances, the complainant is entitled to get the maturity amount of Sahara Q Shop Unique Products Range Ltd. along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed in part ex parte against the OPs 2 and 3 with the following directions :-
- OPs 2 and 3 are directed to pay matured amount of Rs. 2,23,850/- (Rupees two lacs twenty three thousand eight hundred fifty) only to the complainant.
- OPs 2 and 3 are further directed to pay Rs. 30,000/- (Rupees thirty thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OPs 2 and 3 are also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OPs 2 and 3 within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
Copy of the judgment be supplied to the parties free of cost as per CP Act. Upload the judgment on the website of this Commission for perusal of the parties.
