Order No. 11 Dated 15-01-2016
The case of the complainant in short is that complainant invested Rs.5,23,000/- for 5 nos. of MIS with o.ps. The dates of deposit were 26.2.11, 2.6.11, 3.10.12, 3.10.12 and 3.10.12. Complainant deposited Rs.1 lakh for the certificate no.2584415, Rs.1,73,000 for the certificate no.2585224, Rs.1 lakh each for the rest of 3 MIS being certificates nos.2590748, 2590749 and 2590750 to receive Rs.5614.58 per month in total. But unfortunately complainant did not receive last 11 months interest from o.p. as on date of filing of the case i.e. 25.6.14 excepting one payment of Rs.3000/- in the month of Feb. 2014. As on 15.6.14 the due interest amount for the MIS deposit of the complainant is Rs.67,739.54. When complainant did not receive any amount from o.p. he contacted with them but they did not response. Then complainant sent a notice to them through speed post but no reply came from the o.p. Hence the application praying for refund of deposited amount with interest along with compensation and cost.
In spite of receipt of notice o.p. did not contest the case by filing w/v and as such, matter was heard ex parte against the o.p.
Decision with reasons:
We have gone through the evidence of the complainant and documents in particular. It is admitted fact that complainant invested Rs.5,23,000/- after his retirement for 5 nos. of MIS with o.ps. The dates of deposit were 26.2.11, 2.6.11, 3.10.12, 3.10.12 and 3.10.12. Complainant deposited Rs.1 lakh for the certificate no.2584415, Rs.1,73,000 for the certificate no.2585224, Rs.1 lakh each for the rest of 3 MIS being certificates nos.2590748, 2590749 and 2590750 to receive Rs.5614.58 per month. From the documents it is evident that complainant invested the aforesaid amount after his retirement as monthly income scheme. The photocopies of all the certificates have been annexed by complainant. But all on a sudden o.p. stopped to pay the interest amount to the complainant. When complainant contacted with o.p. company they did not response. Due to unchallenged testimony we have nothing to disbelieve the evidence adduced by complainant. We find deficiency in service on the part of o.p. and as such, complainant is entitled to relief.
Hence, ordered,
That the case is allowed ex parte against the o.p. with cost. O.p. is directed to refund a sum of Rs.5,23,000/- (Rupees five lakhs twenty three thousand) only to the complainant and is further directed to pay compensation of Rs.1,00,000/- (Rupees one lakh) only for harassment and mental agony and litigation cost of Rs.5,000/- (Rupees five thousand) only within 30 days from the date of communication of this order, i.d. an interest @ 10% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.
Supply certified copy of this order to the parties free of cost.
