This complaint is filed by the Complainant u/S 35 of the Consumer Protection Act, 2019 alleging deficiency in service as well as unfair trade practice against the OPs as the OPs did not take anys step to refund the deposited amount along with agreed interest after its maturity till filing of this complaint.

The brief fact of the case of the Complainant is that the OPs are carrying on business all over India and running Non-Banking Financial Institution under the name and style ‘Sahara Credit Co-operative Society Limited’. The Complainant had purchased one certificate from the OPs under the head of ‘Sahara a Select’ being certificate no-925005898019, Account no-25586700709, date of issuance on 31.08.2017 amounting to Rs.45,000/- for the period of 18 months and the maturity date of the said certificate was on 28.02.2019. Upon maturity the Complainant visited the office of the OP-1 on several times and on each and every occasion the Branch Manager gave him false assurance that they are taking some time for disbursement of the maturity amount and after repeated request over telephone the OP-1 demanded the copy of the said certificate, photo identity card, address proof  document for settlement of the claim, which was duly provided by the Complainant to the OP-1, but since then no intimation is given to him regarding development of the matter. On 30.10.2020 the Complainant called up the OP-1 when he was informed that the earlier Branch Manager was transferred and a new Branch Manager is joined in the office and he is not aware of this issue. The Complainant narrated the entire episode to the new Branch Manager, who assured him to look into the matter, but no positive response is received as yet. Being compelled and having no other alternative the Complainant send a notice on 27.11.2020 to the OPs demanding the disbursement of the matured amount. The notice was duly served by him through speed post and the same was received by the OPs. After lapse of 22 months the OPs have failed and neglected to disburse the said amount to the Complainant and finding no other way the Complainant has approached before this Ld. Commission b y filing this complaint praying for direction upon the OPs to refund the matured amount of Rs.45,000/-along with interest @18% p.a. for the period from the date of making payment of the said amount i.e. 31.08.2017 till entire realization, to pay compensation to the tune of Rs.1,00,000/- for damages, mental agony, pain and harassment and litigation cost of Rs.20,00/- to him.

After admission hearing notices were issued to the OPs and date was fixed on 25.02.2021 for service return. On 25 02.2021 the Complainant filed the postal track reports from where it was evident that inspite of expiry of the statutory period for filing written version the OPs did not appear before this Ld. Commission to contest the complaint either orally or by filing written version inspite of receipt of the notices. Hence this Ld. Commission was pleased to pass an order to that effect that the complaint will run exparte against the OPs. Accordingly date was given for adducing evidence by the Complainant on 13.05.2021. After adducing evidence date was given for exparte argument and filing BNA on 30.09.2021. The Ld. Counsel for the Complainant was present on 30.09.2021, who had advanced his argument and also filed BNA.

We have carefully perused the record, documents and heard argument at length advanced by the Ld. Counsel for the Complainant. 

At the very outset we are to mention to the judgment passed by the Hon’ble NCDRC in the case of Singla Builders & Promoters Limited vs Aman Kumar Garg, reported in 2018 (1) CPR 314 (NC), decided on 16.10.2017, wherein it has been held that ‘non-filing of written version to complaint amounts to admission of allegations levelled against them in consumer complaint.’

The abovementioned Ruling can be applicable in the case in hand as in the instant complaint inspite of receipt of the notices the OPs did not bother to turn up to contest the complaint either orally or by filing written version. Therefore in view of the said judgment the allegations as made out by the Complainant in the petition of complaint can be admitted as no rebuttal is forthcoming against such allegations.

From the documents it is evident to us that admittedly the Complainant purchased A. Select by depositing a sum of Rs.45,000/- with the OPs on 31.08.2017. The maturity date of the said certificate was on 28.02.2019. In the certificate it is written that on maturity the Complainant will get a sum of Rs.52,335/-. After maturity the Complainant approached before the OP-1 requesting for disbursement of the maturity amount either to him or in his account. Though OP-1 had assured that the maturity amount will be disbursed, but to no effect. After repeated request the Complainant was asked to deposit the copy of the said certificate along with the copy of the photo identity and address proof with the OP-1 and the Complainant did the same as per direction of the OP-1. Inspite of this the OP-1 had failed to take any positive step regarding refund of the maturity amount to the Complainant. The Complainant had made written correspondences with the OP-1 along with legal notices to all the OPs, but inspite of receipt of the same the OPs did not bother to mitigate the grievance of the Complainant by refunding the maturity amount to him. Finding no other alternative this complaint is initiated by the Complainant against the OPs.

In our considered view that as the Complainant deposited the amount of Rs.45,000/- with the OPs by purchasing a certificate, the Complainant is very much entitled to get  refund of the maturity amount as mentioned in the said certificate. Admittedly after maturity date about 32 months have already been elapsed, but the Complainant did not get the maturity amount till date. Not only that for getting the maturity amount he had to run from pillar to post, but the OPs did not bother to comply with their commitment.  Such inaction on behalf of the OPs clearly reveals their deficiency in service as well as unfair trade practice. Due to this reason the Complainant had to approach before the Court of Law for redressal of his grievance and for this proceeding he has to incur some legal expenses, for which the Complainant is entitled to get some amount towards litigation cost from the OPs. The Complainant has also prayed for compensation on account of his harassment, mental agony and pain and in our view he is also entitled to get compensation but in the form of interest on the maturity amount.

 In this respect we are to rely on the judgment passed by the Hon’ble NCDRC in the case of Vishesh Sood & Another vs. M/s. Raheja Developers Limited, in the case no-2923/2017, decided on 15.11.2019, wherein Their Lordships have held that the developer shall refund the principal amount with compensation @12% p.a. from the date of deposit till the date of entire realization together with cost, in default the amount shall attract compensation @14% p.a. for the same period. In another case passed by the Hon’ble Supreme Court in the case of Pioneer Urban Land & Infrastructure Limited vs. Govindan Raghvan (2019)5 SCC 725 and Kolkata West International City (P) Limited vs. Devasis Rudra (2019) CPJ 29 (SC), wherein it has been held by Their Lordships that the Complainant cannot be made to wait indefinitely for possession of the unit. In the case of Kolkata West International (P) Limited the Hon’ble NCDRC was pleased to hold that the refund shall be made along with interest @12% p.a.

Therefore having regard to the abovementioned judgments passed by the Hon’ble Supreme Court as well as the Hon’ble NCDRC we are of the opinion that in case of refund of the paid amount by the service provider to the Complainant it will carry interest @12% p.a. from the date of maturity till its entire realization.

Going by the foregoing discussion hence it is ordered that the Consumer Complaint being no-401/2020 is hereby allowed exparte against all the OPs with cost. The OPs are directed either jointly or severally to refund the maturity amount of Rs.52,335/- along with interest in the form of compensation@12% p.a. from the date of maturity i.e. 28.02.2019 till its entire realization within a period of 45 days from the date of passing this judgment, in default the interest in the form of compensation shall carry @14% p.a. instead of 12%. The OPs shall pay either jointly or severally a sum of Rs.3,000/- to the Complainant as litigation cost within a period of 45 days from the date of passing this judgment, failing which the Complainant will be at liberty to put the entire order in execution as per provision of law.

Let plain copy of this judgment be given to the parties free of cost as per CPR. 

Dictated and corrected by

[HON'BLE MRS. Silpi Majumder]
               MEMBER