Shri Swapan Kumar Mahanty, President.
This is an application u/s.12 of the C.P. Act, 1986.
The complaint, in brief, as follows :-
The OP Alchemist Township India Ltd. launched a deposit scheme to the public at large for investment and the complainants invested Rs.3,00,000/- dividing into three parts i.e. Rs.1,00,000/- each to the OP for a period of 29 moths, 30 months and 19 months respectively against Certificates Nos. TA01435201, TA01435200 and
-: (2) :-
TA01435199 all dated 19.07.2013. The maturity dates of those certificates were on 31.01.2016, 02.02.2016 and 13.05.2015 respectively. In spite of maturity, the OP did not refund the invested amount along with interest thereon. The O.P. issued an account payee cheque bearing no.402138 dated 15.09.2015 of Rs.1,00,000/- against certificate no.TA01435201 to the Complainant no.1 but he did not deposit the said account payee to their banker on the request of the O.P. The OP assured to transfer the invested amount along with interest to the Bank A/C of the complainants but no payment has been credited to their bank account. It is further alleged that the OP has adopted unfair trade practice towards discharging their duties and liabilities. The complainants have prayed for refund of the matured amount including other reliefs in terms of the petition of complaint.
In spite of service of notice OP did not turn up to contest the case. As such, the case has proceeded ex-parte against the O.P.
Point for Decision
- Is the OP deficient in rendering service to the complainant ?
- Is the OP indulged in unfair trade practice ?
- Are the complainants entitled to get the relief as prayed for ?
Decision with Reasons
Points No.-1 to 3.
All the points are taken up together for the sake of convenience and brevity in discussion.
To establish their case the complainant no.1 has produced photocopies of Certificates bearing nos.TA01435199, TA01435200 and TA01435210 all dated 19.07.2013 of Alchemist Township India Ltd. and photocopy of an account payee cheque bearing no.402138 dated 15.09.2015 of Rs.1,00,000/-.On perusal of those certificates, we find that complainant invested Rs.3,00,000/- with the OP company and the maturity dates of those certificates were 31.01.2016, 02.02.2016 and 15.03.2015. Photocopy of the cheque bearing no.402138 dated 15.09.2015 of Rs.1,00,000/- goes to show that the O.P. issued such cheque in favour of Complainant no.1 against certificate
-: (3) :-
no.TA01435201 but the Complainants did not deposit such cheque to their banker for encashment on the request of the O.P. The OP assured to credit the matured amount to the Bank A/C of the complainants, but the matured amount never credited to their bank account.
We do not find any reason why the OP collected the amount from the depositors by issuing certificates and hold the amount as per their own discretion. Therefore, we hold that the OP demonstrated a gesture of deficiency in service and indulged in unfair trade practice. OP has also caused harassment, mental pain and agony to the Complainants.
Complainants corroborate their case by adducing evidence on affidavit as well as by producing documents. The evidence of complainant no.1 remains unchallenged and uncontroverted. In absence of any contrary and controverting materials on record and having regard to the documents on record, we are of the opinion that the complainants have been able to prove their case. As such, the complainants are entitled to get relief as prayed for. Thus, all the points under determination answered in the affirmative.
In the result, the case succeeds in part.
Hence,
Ordered
That the complaint case be and the same is allowed ex-parte against the OP in part with litigation cost of Rs.3,000/- (Rupees Three Thousand) only.
OP is directed to refund Rs.3,00,000/- (Rupees Three Lakhs) only to the complainants within 45 days from the date of this order with litigation cost in default to pay interest at the rate of 10 percent p.a. on the invested amount.
-: (4) :-
O.P. is also directed to deposit Rs.5,000/- (Rupees Five Thousand) only to this Forum as punitive damage for practicing unfair trade within the stipulated period.
Liberty be given to the complainant to put the order into execution, if the OP transgresses to comply the order.
