For the Complainant                       -   Mr. Avijit Bhuina, Advocate.

FINAL ORDER/JUDGEMENT

SHRI SWAPAN KUMAR MAHANTY, PRESIDENT

This is an application u/s.12 of the C.P. Act, 1986.

The complaint, in brief, as follows:-

That being convinced and allured by the representative of the OP, the complainant invested Rs.70,000/- against certificate Nos. AIRL/RDD0061493, AIRL/RDD0343351 & AIRL/RD00665521 on 30.12.2010, 03.11.2011 & 27.02.2012 respectively. The maturity date of those certificates were on 30.12.2016, 03.11.2017 & 27.02.2018. On maturity, the complainant submitted those certificates to the OP for payment of matured amount but the OP did not refund the matured amount. It is further alleged that the OP has adopted unfair trade practice towards discharging their liabilities. Hence, the complainant has prayed for refund of matured amount of Rs. 1,40,000/-, including interest  at the rate of 18  percentp.a. from the date of maturity till the date of actual payment, compensation of Rs. 50,000/- for causing harassment and mental agony and Rs. 25,000/- toward the litigation cost.

OP despite service of notice of the complaint has failed to file WV within the limitation provided U/s 13 (2) of the CP Act, 1986. No request for condonation or extension of time for filing WV was made. Thus, the right of OP to file WV was closed vide procedural order dated 18.12.2019.

                    Decision with Reasons

             Complainant Smt. Bela Rani Sarkar has filed her evidence by way of affidavit supporting the allegations made in the complaint. Ld. Advocate for the complainant has taken us thorough the consumer complaint as also the evidence adduced in support of the complaint. On perusal of photocopies of the certificate bearing Nos. AIRL/RDD0061493, AIRL/RDD0343351 & AIRL/RD00665521 dated 30.12.2010, 03.11.2011 & 27.02.2012 it appears that the complainant invested Rs. 70,000/- to the OP and the maturity dates of those certificates were on 30.12.2016, 03.11.2017 & 27.02.2018. Complainant furnished those certificates to the OP for refund of the matured amount but the OP failed and neglected to refund the matured amount. As the OP has opted not to file WV despite service of notice of complainant, the above allegations are deemed to have been as correct.  In order to prove said allegations complainant Smt. Bela Rani Sarkar has filed her evidence reaffirming the allegations. Thus, it stands to prove that despite of having investment of Rs. 70,000/- the OP has failed to refund the matured amount of Rs. 1,40,000/- to the complainant against those certificates  after its maturity. In absence of any explanation failure to comply the terms and conditions of those certificates, we have no hesitation in conducing that the OP has committed deficiency in service as also have indulged unfair trade practice. We do not find any reason why the OP collected the amount from the complainant by issuing certificates and hold the amount as per their own discretion.

Now the question as to what should be the amount of compensation to be granted to complainant? Ld. Advocate for the complainant, however, has pressed interest  at the rate of 18 percent p.a. on the matured amount including compensation of Rs. 50,000/- and Rs. 25,000/- as litigation cost. The claim of the interest  at the rate of 18  percentp.a. and compensation of Rs. 50,000/- is too much excessive.

In our considered view, it would adequately meet the ends of justice, if  simple interest  at the rate of 5  percentp.a. and Rs. 20,000/- as compensation on account of mental agony and  physical harassment suffered by the complainant.

In view of the above discussion, the consumer complaint is allowed in part ex parte against the OP with following directions:-

1)         The OP is directed to pay Rs.1,40,000/- (Rupees one lac fourty thousand) only  to the complainant  along with simple interest  at the rate of 5  percentp.a. from the date of maturity of  those certificates till actual payment.

2)         The OP is directed to pay Rs. 20,000/- (Rupees twenty thousand) only as compensation on account of mental agony and physical harassment suffered by the complainant.

3)         The OP is directed to pay Rs.5,000/- (Rupees five thousand) only towards litigation expenses to the complainant.

            The above directions are complied by the OP within a period of 60 days from the date of order, failing which the complainant shall at the liberty to execute order by filing application U/ss. 25 & 27 of the Consumer Protection Act, 1986 against the OP.

            Order be communicated to the complainant as per rules.