Fact of the case of the Complainant in short is that this Complainant purchased several certificates of Alchemist Capital Ltd. amounting to Rs.31,200/- in total from the O.P. no.1 which is branch office of O.P. no.2 Alchemist Capital Ltd.

Thereafter, on maturity of the said certificates amounting to Rs.8,320/-, Rs.7,280/-, Rs.8,000/- and Rs.7600/- in total amounting to Rs.31,200/-.  This Complainant submitted said certificates to O.P. no.1 Branch Office of O.P. no.2 for encashment.

Said cheques were presented in the concerned bank by Complainant but said cheques were dishonoured.  Thereafter, this Complainant made several approach to the branch office of the O.P. no.2 Company but they have not paid back the matured amount of Rs.31,200/- of said certificates.

So, this Complainant has filed this complaint and prayed for relief for return of the said amount from the O.Ps.

In this case notices were issued to the address of both the O.Ps. and both the notices were served upon both the O.Ps. who have not appeared .  so, this ca se was heard exparte.

In this case following documents have been marked as exhibit :-

1)  Exhibit – 1 series are the photocopy of the four (4) cheques.

                                                               Points for determination.

1)  Is the case maintainable ?

2)  Whether there was any unfair trade practice on the part of the O.Ps. Company.

3)  Whether the Complainant is entitled to relief as prayed for.

                                                                   Decision with reason.

This case is being conduct by the Complainant in person, who has submitted inter alia that he purchased several certificates of O.P. no.2 Company from O.P. no.1 Branch Office and thereafter he approached to the O.P. no.1 Branch Office of O.P. no.2 Company to pay maturity value of the said certificates after depositing said certificates in original.  Thereafter, O.P. no.1 Branch Office issued four cheques amounting to Rs. 31,200/- in total in favour of the Complainant against the said certificates ; but said cheques were not encashed.  So, this Complainant was approached to the O.P. no.1 Branch Office for realization of the amount on maturity of said certificates ; but O.P. did not pay the same.  So, he has filed this case and prayed for realization of the said amount.

We have gone through the petition of complaint and the Xerox copy of the cheques.  It appears from exhibit – 1(a) that a cheque was issued amounting to Rs.8320/- in favour of Complainant on 31-07-2015.

It also reveals from Exhibit – 1(b) that another cheque amounting to Rs.7,280/- was issued on 31-07-2015 in favour of Complainant.  It also reveals from exhibit – 1(c) that a cheque of Rs.8,000/- was also issued in favour of Complainant by the O.P. Company on 08-06-2015.

It also reveals from exhibit – 1(d) that a cheque of Rs.7,600/- dated 08-06-2015 was also issued in favour of Complainant by the O.P. Company from O.P. no.1 Branch Office of O.P.no.2.

Complainant stated that these cheques were dishonoured.  As such he made approach for giving him value of his certificates on maturity ; but O.P. Company did not pay any heed.

We find no reason to disbelieve unchallenged the contents of the petition of complaint and the contents exhibited documents.  So, we hold that this Complainant purchased certificates from the O.P. no.1 which is Branch Office of O.P. no.2 Company.  We also hold that the value of the said certificates on maturity to the extent of Rs.8320/- on 03-07-2015 and Rs.7,280/- on 31-07-2015 and Rs.8,000/- on 08-06-2015 and Rs.7,600/- on 08-06-2015 in total Rs.31,200/- have not paid.  So, we find both the O.Ps. jointly and severally liable to return the maturity value of said four certificates amounting to Rs.31,200/-.

We also find no reason to disbelieve the fact that the cheques those were issue against the maturity value of the certificates were not encashed.  So, we hold that it’s a pure case of unfair trade practice.  So, this Complainant is entitled to relief as prayed for.

In the result this complaint succeeds.

Hence, it is

                                                                             Ordered

That the Complaint Case no.60 of 2016 be and same is hereby allowed exparte.

Both the O.Ps. are directed to pay back Rs.31,200/- along with it’s interest @ 8% p.a. from the date of filing of this case till it’s full realization to the Complainant by thirty (30) days failing which Complainant is at liberty to realize the same with due course of law.

Rs.5,000/- is also awarded as Compensation as well as cost in favour of the Complainant.

O.Ps. are also further directed to pay the amount awarded above with cost and Compensation to the Complainant by thirty (30) days from this date ; failing which Complainant has liberty to realize the same with due course of law.

Let a plain copy of this order be given to the Complainant free of cost and another plain copy of Judgement be also sent to the address of both the O.Ps.