Case No. 150 of 2022

Content of the complaint petition is that this complainant invested Rs. 6,00,000/- for 18 months to the Ops Sahara Company on 01.12.2018 under receipt no 787003174702, 787003174784, 787003174785, 787003174786, 787003174787, 787003174788, 787003174789 . The complainant is entitled to get Rs. 7,02,600/- on 01.06.2020. But on expiry of such period this Ops did not pay any single amount to the Complainant, though he repeatedly went to their office and deposited all documents of investments. Hence it is an unfair trade practice on behalf of the Sahara Company and also a deficiency service at their part. Hence he approached before this commission for an amount of Rs. 7,02,600/- and Rs 50,000/- for compensation for his mental agony and harassment and 10,000/- for litigation cost.

OP contested the case on submission that they are willing to pay but due to embargo by the apex court unable to pay. Apart from that complainant did not produce KYC documents and original certificate of investment. Moreover this complainant is not consumer. The relation in between them as debtor and creditor and the transaction between them is as commercial or financial transaction. So the remedy is “The Civil Court” not this Commission. Due to the dispute with company and SEBI, this delay in payment arises. Finally due to the embargo in apex court, the company cannot dispose their asset and could not pay the investors. They have no fault at all.

C.F paid is correct.

DECISION

In order to substantiate the Complaint complainant examined himself and filed the Xerox copy of document i.e certificates of investment.  

This commission carefully perused the untested testimony of the complainant and unchallenged document.

Considering all of these documentary and oral evidence, this commission is directing the OP company jointly and severally to disburse the amount of Rs 6,00,000/- behind his investment and Rs 20,000/- for compensation for his mental agony and harassment and Rs 5,000/- for litigation cost.

HENCE ORDERED

that the complaint petition be and same is allowed with a direction to pay the complainant amount of Rs 6,00,000/-in respect of his investment and also compensation of Rs 20,000/- for his mental agony and harassment and Rs 5,000/- as litigation cost jointly and severally within forty five (45) days from the date of this order.    

Let a copy of this judgment be given to the Complainant/ O.Ps free of cost on proper application.