The present case has been filed by the complainant against OPs praying for an order directing the OPs to pay Rs. 87000/- with interest and to return the pre-matured certificates of deposit of Rs. 7000/- and Rs. 2000/- to the complainant.
The complainant’s case, in a nutshell, is that the complainant made a fixed deposit of Rs. 50000/-, a recurring deposit for 12 months @ of Rs. 4000/- per month, a deposit of Rs. 6000/-, Rs. 7000/- and Rs. 2000/- to the Goldmine Animal Husbandry Pvt. Ltd where the O.Ps involved as officials. According to the complainant, the FD of Rs. 50,000/- was matured on 11/9/2013 and an advance cheque of amount of Rs. 56,000/- was issued to the complainant by the O.P./O.Ps. The complainant has stated that he deposited Rs. 28,000/- in seven months against the recurring deposit which was matured on 15/9/13. The complainant has not received the said matured amount against the said deposited amount in spite of his application and prayer submitted to the O.P./O.Ps. for payment. The complainant had submitted an application to Shaymal Sen Commission for having his deposit amount since matured. After completion of five hearing before aforesaid Commission the company had stated that the full amount would be paid within one month from the last date of hearing i.e.20/10/2014. But the complainant was not paid the entire amount except Rs. 65,000/- paid by advance Cheque and Rs. Rs. 6,000/- which was transfered to the complainant’s account on 20/10/2014. The complainant had made a written complaint to SEBI. The complainant was not given the certificate of Rs. 6,000/- from the company/O.P. The complainant deposited Rs. 93,000/- in total to Goldmine Animal Husbandry Pvt. Ltd whose owner and MD are the O.Ps. Hence the case has been filed by the complainant.
The O.Ps have not appeared in spite of receiving the notice sent by this Forum. The instant case has been heard ex-parte against the O.Ps.
Points for consideration
- Is there any deficiency in service on the part of the O.P./O.Ps?
- Whether the complainant is entitled to get any compensation or relief?
Decision with Reason
Point Nos. 1&2
Having perused the facts as well as the documents filed by the complainant and argument made by the complainant, it appears that the complainant deposited to the O.P./O.Ps the total of Rs. 93,000/- in different plans such as Plan B12 includes Rs. 84,000/-, Plan C36 includes Rs. 7,000/- and plan C60 includes Rs. 2,000/-. From the money receipts of Goldmine Animal Husbandry Pvt. Ltd, we find that the complainant deposited the said amount in different date by cash. From the statement of the complainant and the Xerox copy of Advance for Sale of Debenture Application Book, it appears that the complainant has been entitled to get the matured amount of deposited money from the O.P./O.Ps.
As the O.P./O.Ps had received the said amount from the complainant on behalf of Goldmine Animal Husbandry Pvt. Ltd then it was the duty and obligation of the O.P./O.Ps to pay to the complainant the matured amount in respect of deposited amount paid by the complainant. From the facts and circumstances it appears to us that O.P./O.Ps has/have not done his/their duty as stated perfectly and fully. Here we find deficiency in service on the part of the O.P./O.Ps.
The complainant had deposited Rs. 93,000/- to the O.P./O.Ps in different plans of Goldmine Animal Husbandry Pvt. Ltd to get the benefit of maturity value which includes principal and interest on it. If complainant does not get the principle amount and interest amount then he will go through a large loss of money, so, the complainant is entitled to get Rs. 93,240/- against the deposit amount of Rs. 50,000, Rs. 28,000/- and Rs. 6,000/- along with pre-matured certificates of deposit of Rs. 7,000/- dt. 11/8/2012 and Rs. 2,000/- dt. 12/05/12 and compensation of Rs. 5,000/- from O.P/O.Ps. Be it mentioned here that there is no evidence that the complainant encashed the Cheque for Rs. 56,000/- against the deposited amount of Rs. 50,000/-
The above two points, are, thus disposed of with the above observation and findings.
Hence, it is,
ORDERED
that the instant case be and the same is allowed ex-parte against the O.Ps. The O.Ps are directed to pay Rs. 93,240/- (ninety three thousand two hundred forty) including principal and interest amount in respect of deposited amount of Rs. 50,000/- (fifty thousand), Rs. 28,000/-(twenty eight thousand) and Rs. 6,000/- (six thousand) paid by the complainant to the O.Ps along with compensation of Rs. 5,000/- (five thousand).The O.Ps are also directed to return the certificates of deposit of Rs. 7,000/- (seven thousand) and Rs. 2,000/- (two thousand) to the complainant. Above order must be complied with jointly/severally within 40 days from the date of issuance of this order, failing which the O.Ps will be liable to pay jointly/severally a fine of Rs. 200/- per day chargeable from the date of issuance of this order till compliance of the order in toto. The complainant is at liberty to put the order in execution after expiry of 40 days from the date of issuance of this order as per rule.
Let a copy of this judgement be supplied to the parties free of charge.
