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. 1,18,250/- to the OP-1 on 25.05.2012, 16.10.2012 and 23.05.2012 and the OP-1 issued certificates bearing Nos. 562021223447, 562017042770 and 562006741135 respectively. The maturity dates of those certificates are 25.05.2018 ,16.10.2018 and 23.05.2018a and its maturity value is Rs. 2,79,297/-. Despite maturity, the OPs did not refund the invested 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, the complainant has filed the 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 an investor and the complaint is not maintainable. 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 and also have filed written argument.
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. 1,18,250/- to the OPs against certificate bearing Nos. Nos. 562021223447, 562017042770 and 562006741135 dated 25.05.2012, 16.10.2012 and 23.05.2012 . The maturity dates of those certificates is 25.05.2012, 16.10.2012 and 23.05.2012 respectively . Despite several request and demand notice dated 31.07.2019, OPs did not pay the maturity 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 his hard earned money with the OPs. The OPs are deliberate to make illegal gains and to deprive the complainant from his lawful right. In fact, the OPs withhold the maturity amount of the complainant 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 his 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 against 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 his money to the OPs, he 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 against the OPs with the following directions :-
- OPs are directed to pay matured amount of Rs. 2,79,297/- (Rupees two lacs seventy nine thousand two hundered ninety seven ) only to the complainant.
- OPs are further directed to pay Rs. 10,000/- (Rupees ten 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.
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