FINAL ORDER/JUDGEMENT           

SHRI SWAPAN KUMAR MAHANTY,   PRESIDENT

The complainant alleges that she invested  Rs.  1,62,518/-  to the OP-4 against Membership No.  624687000114 and the OP-4 issued certificates bearing Nos.  555000362324 to 555000362327 and 555000362332 to 555000362334 against Account Nos. 24686900622 to 24686900625 and 24686900720 to 24686900722.   The maturity dates of those certificates are 23.09.2019 and 30.09.2019.  Maturity value of those certificates are Rs. 2,32,793/-. Despite several request, the OPs failed and neglected to pay the matured  amount. Complainant vide letter dated 23.06.2020 requested the OPs to refund the matured amount.   In spite of letter dated  23.06.2020, the OPs failed and neglected to refund the matured amount to the complainant . The act of the OPs tantamount to deficiency in service and unfair trade practice. Hence, the complainant approached the Commission by way of consumer complaint  seeking refund of matured  amount along with interest, compensation and litigation cost.

OPs contested the case by filing by WV challenging the maintainability of the consumer case. The specific case of the OPs is that the complainant is not a consumer under the definition of Consumer Protection Act and the OPs are commercial/ financial institution and the grievance of the complainant should be redress in Civil Court. The complainant did not produce original certificates and  KYC documents to the OPs for internal process of disbursement of payment. Hence, the consumer complaint is liable to be dismissed.

Complainant Smt Puja Lal filed her E/chief supported by an affidavit and she has also relied relevant documents which are annexed with the consumer complaint. Despite several opportunities, the OPs failed to file their E/chief.

We have heard argument. Perused the evidence of the complainant coupled with material on record. The Ld. Advocate for the complainant has argued that the OPs in spite of receiving huge amount  has miserably failed to pay matured amount to the complainant. Complainant further alleged to have been cheated and having no other option left the complainant before this commission praying for refund of the matured amount along with interest, compensation and litigation cost.

Upon perusal of the consumer complaint coupled with evidence of the complainant and photocopies of the certificates dated  23.03.2017 and 31.03.2017 respectively. We find that complainant invested Rs. 1,62,518/- to the OP-4 for a period of  30 months. The OPs failed and neglected to pay the matured amount to  the complainant without assigning any reason. We have also gone through the photocopy of letter dated  23.06.2020 of the complainant. The said letter goes to show that despite request the OPs failed to refund the invested amount. The OPs are fully aware that they are liable to refund  the mtaured amount to the complainant against the certificates. 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 invested  amount which no doubt deceitful manner of trade. Despite filing of  WV, the OPs did not file their E/chief to controvert the allegations of the complainant. Thus, the allegation in the complaint are deemed to have been admitted as correct. It is well settled that the allegation made in the complaint, if not denied is deemed to be admitted as correct. Complainant in her E/chief did support the allegations of the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service.

According to C.P. Act,  it is benevolent piece of legislation  to protect  the consumers from exploitation. The spirit of the benevolent legislation cannot be overlooked and its object is not to be frustrated. The complainant has invested Rs. 1,62,518/- to the OP-4 against certificate Nos. 555000362324 to 555000362327 and 555000362332 to 555000362334 against Account Nos. 24686900622 to 24686900625 and 24686900720 to 24686900722 with the hope to get Rs. 2,32,793/-. The OPs arbitrarily withhold the invested amount of the complainant.

 The act and conduct of the OPs is a clear case of the depiction, which resulted in the injury and loss of opportunity to  the complainant.  Had the complainant not invested her money with the OPs, she would have invested same elsewhere. The complainant cannot be wait indefinitely to get invested amount. The complainant has suffered mental agony and harassment. It is settled principle of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable not arbitrary. To get relief, the complainant has wage a long drawn tedious battle. In this circumstance, the complainant is entitled to get matured amount along with interest, compensation and litigation cost.

On the basis of above discussions, the consumer complaint is allowed on contest against the OPs with the following directions:-

1. The OPs are directed to refund Rs.  2,32,793/- (Rupees two lacs thirty two thousand seven hundred ninety three) only along with interest  at the rate of 5  percent p.a. from 23.09.2019 and 30.09.2019  till realization to the complainant.

2. The 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.

3. OPs are also directed to 5,000/- (Rupees five thousand) only to the complainant  as litigation  cost.

The above directions be complied by the OPs with in a period 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 under the provisions of CP Act, 2019.

Copy of the judgment be supplied to the parties as per rules. Judgment be uploaded on the website of this Commission forthwith for perusal of the parties.