FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The case of the complainant, in a nutshell; is that he enrolled himself in the Sahara Q- Shop Unique Products Range Limited, Plan-H and invested Rs.36,100/- against certificate Nos. 562006743083 and 5620223448 dated 16.10.2012 and 28.10.2012. The period of investment is for 6 years. Maturity dates of those certificates are 16.10.2018 & 28.05.2018 and its maturity value is Rs 84,835/-. On maturity, the complainant approached the OP-1 to refund the redemption value and/or matured value. The OP 1 refused to refund the redemption value and/or matured value of the certificates. Complainant vide letter dated 31.07.2019 requested the OP 1 to pay the redemption value but such letter was unattended. There is deficiency in service and unfair trade practice on the part of the OPs. Finding no other alternative, the complainant approached this Commission for necessary reliefs as mentioned in the prayer portion of the Consumer Complaint.
The OPs have contested the case by filing WV denying all the material allegations made out in the Consumer Complaint. The specific case of the answering OPs is that the Complainant is not a consumer as defined under the CP Act and relationship between the parties are debtor and creditor. The complainant did not come to the office of the OP 2 along with original documents and KYC for process of disbursement of payment. There is no deficiency in service and/or unfair trade practice on the part of the answering OPs. Thus, the answering OPs have prayed for dismissal of the Consumer Complaint with cost.
In support of his case, complainant has filed E/chief supported by an affidavit and relied the documents annexed with the complaint petition. We have heard argument. .
On perusal of the photocopies of certificate bearing Nos. 562006743083 and 5620223448 dated 16.10.2012 and 28.10.2012, it appears to us that the complainant enrolled himself in the Sahara Q Shop Products Range limited by paying Rs.36,100/-. We have it from photocopies of documents that the redemption value of those certificates is Rs 84,835/- . Despite expiry of redemption period the OPs did not pay the redemption value and/or matured value.
The OPs collected money from various investors and amassed their wealth attracting the investors for lucrative returns. But when time comes for repayment of redemption value, OPs did not respond to the representations of the investors, neither did they act in response to their duties and obligations. This is not only deficiency in service but also unfair trade to some extent. As soon as the complainant paid money of anticipation of getting that with assured interest, he/she becomes the Consumer under
the OPs in terms of Consumer Protection Act.
The OPs did not carry out their liabilities and obligations as promised and did not pay back the redemption value. This is nothing but deficiency in service on the part of the OPs. The deficiency of the OPs led the complainant to face physical, mental harassment and financial distress to some extent.
Despite given opportunity to the OPs they did not file their E/chief. They did not assist the Commission to find out the truth because truth was known to them. The evidence of the complainant is remained unchallenged. The answering OPs did not controvert the allegations leveled against them by filing E-chief.
In the foregoing observation, the complaint is allowed in part against the OPs on contest with following directions:-
- OPs are directed to pay redemption amount of Rs. Rs 84,835/- (Rupees eighty four thousand eight hundred thirty five) only bto the complainant within 90 days from today.
- OPs are further directed to pay compensation of Rs. 5,000/- (five thousand) only to the complainant for her mental agony and harassment within the specified period.
- OPs are also directed to pay Rs. 3,000/- (Rupees three thousand) only to the complainant as litigation cost.
Copy of the judgment be given to the parties as per rules. The judgment be uploaded on the website of this Commission for perusal of the parties.
