Ld. Advocate(s)

          For complainant    .. Makbul Rahaman

          For OP/OPs     .. Amal Kr. Dawn

Date of Filing           : 19.03.2018

Date of Disposal      : 19.11.2018

:    JUDGMENT & ORDER  dtd. 19.11.2018  :         

 Nonpayment of the maturity value of one investment plan of the depositor herein the complainant has obliged her to lodge this complaint u/s 12 of the C.P. Act 1986 for redressal.

The brief fact of the case is that the complainant had one investment plan for 60 months @ Rs. 1,300/- for each month started on and from 05.09.2012 bearing A/C No.  55704201232 with the OPs.

During the period according to the scheme, the complainant had deposited Rs.44,200/- in total for 34 months out of 60 months. According to the condition of the investment plan, the complainant is entitled to get total maturity value of Rs. 44,200/- as principal amount + up to date interest as per norms of the OPs.  The complainant has made claim as per rule, but no payment has been made by the OPs.  The complainant in his averment had prayed for directing the OPs to make payment Rs. 44,200/- as principal amount + up to date interest as per norms of the OPs till the date of the full realization, a compensation of Rs. 20,000/- and other reliefs.

After receiving the notice, the OP No. 1, one Amal Kumar Dawn, Franchise Manager appeared on behalf of Sahara India Pariwar before this Forum several times but he did not file any WV.  Lastly, on 28.08.2018, i.e., on the date of argument he filed a petition on the ground stated therein which is kept in the record.   He also verbally submitted that the OPs are not in a position to make payment to the complainant.

On argument the Ld. Lawyer for the complainant argued that the complainant had submitted proper demand notice but the OP-1 gave no reply. 

From the above discussion, it is clear that the complainant is entitled to get the maturity value of the deposit with the OPs.  It is the deficiency in service of the OPs not to make payment of the maturity amount in time.  The complainant is not responsible for the internal disturbance of the OP Company.

Hence, it is

                                                O R D E R E D,

The OPs are directed to make payment of Rs. 44,200/- + up-to-date interest as per norms of the OPs within 30 days from the date of this order, failing which an interest @ 10% p.a. shall be imposed on the total amount up to the date of this order.  A compensation of Rs. 15,000/- for harassment, mental pain and agony and litigation cost of Rs. 5,000/- are to be paid to the complainant by the OPs within 30 days from the date of this order.

The case be and the same succeeds on contest.

Let a plain copy of this order be furnished to the parties forthwith free of cost.