FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Sahara India Commercial Corporation Ltd. is a financial institution. OPs 1 and 2 are the Branch Manager and Director of Sahara India Commercial Corporation Ltd. Complainant invested Rs. 80,200/- to the OP-1 on 25.10.2012 and 16.10.2012 respectively. OP-1 issued certificates bearing Nos. 562006741136 & 5620067433096 to the complainant. The maturity dates of those certificates is 25.10.2018 and 16.10.2018 and its maturity value of the those certificate is Rs. 1,88,407/-. Complainant issued notice dated 31.07.2019 requsting the OP-1 to refund the matured amount. Despite maturity, the OPs did not refund the matured amount. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OPs.
In view of the gross deficiency in service and unfair trade practices of the OPs, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
OPs contested the complaint by filing WV in which material facts of investment have not been denied. The complainant did not produce original certificates and KYC to the OPs for disbursement of payment. The complainant is not a “Consumer”, within the meaning of Consumer Protection Act, 2019, rather the OPs are a commercial, financial institution and any grievance and on it should be redress in the Civil Court. The relationship between the parties is debitor and creditor. There is no deficiency in service on the part of the OPs. In this context, it is pertinent to mention here that despite several opportunities given to the OPs they failed to file their E/chief supported by an affidavit.
Complainant has filed her evidence supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of her case.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 80,200/- to the OP 1 against certificate bearing Nos. 562006741136 & 562006743096 dated 25.10.2012 and 16.10.2012. The maturity date of those certificates is 25.10.2018 and 16.10.2018. Despite several request and demand notice dated 31.07.2019, OPs did not pay the matured amount to the complainant. OPs are fully aware that they are liable to pay the matured amount to the complainant on its maturity. Complainant invested her hard earned money with the OPs. The OPs are deliberate to make illegal gains and to deprive the complainant from her lawful right. In fact, the OPs withhold the maturity amount which no doubt deceitful manner of trade.
OPs have not filed their E/chief supported by an affidavit to controvert the allegations in the complaint petition. On the contrary, they have admitted the facts of investment of the complainant to Sahara Q Shop Unique Products Range Ltd. in their WV. Plea of the OPs is that the complainant did not produce original certificates and KYC for disbursement of payment. Complainant in her affidavit did support the allegations made out in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OPs. The act of the OPs is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested her money to the OPs, she would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of Sahara Q Shop Unique Products Range Ltd. along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed on contest in part against the OPs with the following directions :-
- OPs are directed to pay matured amount of Rs. 1,88,470/- (Rupees one lac eighty eight thousand four hundred seventy) only to the complainant.
- OPs are further directed to pay Rs. 20,000/- (Rupees twenty thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OPs are also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OPs within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
Copy of the judgment be supplied to the parties as per rules. Upload the judgment on the website of this Commission for perusal of the parties.
