Ex- P A R T E   O R D E R

PER SHRI. S. G. CHABUKSWAR – HON’BLE  MEMBER

1)        This is a complaint for recovery of amount from Opposite Party invested in fix deposit with interest @ 13% total Rs.93,230/- and Rs.5,000/- compensation for mental harassment and cost of the complaint.

2)        The case of Complainant in short is as under –

The Complainant is residing at Hansnagar, Thane (W).  Opposite Party is the Co-operative Credit Society having it’s Registered/Main Office at Maulana Azad Road, Mumbai–400 004. Opposite Party is carrying the banking business by collecting money deposits under different schemes. The financial activities were managed by the members of the working committee of the Opposite Party.  In the month of November, 2008, Mr. Jadhav then Secretary and Shri. B.K. Raje, Advocate advised the Complainant for investing amount in the fix deposit.  On 29/11/2008 the Complainant had invested with Opposite Party Rs.50,000/- in fixed deposit as per advice of B.K. Raje, Advocate and Mr. Jadhav. 

3)        The further case of the Complainant is that, the amount of fix deposit Rs.50,000/- was repayable with simple interest @ 13% p.a. with benefit of reinvestment every quarter as the deposit was repayable after 37 months.  The amount payable on maturity at the existing rate of interest was Rs.73,999/-.  On 16/03/2012 Complainant had approached to Opposite Party and produced fixed deposit receipt and requested for repayment of the amount.  On that day the Manager accepted the said receipt and expressed his inability to pay the agreed amount Rs.73,999/-.  The said Manager advised the Complainant to come after a week and contact to Shri. Mandhare then Secretary of the Society.  The Complainant had contacted with Shri. Mandhare on several dates but he failed to make the payment.  The Complainant had also made contract with Mr. B.K. Raje, Advocate but he neglected for repayment of the amount.  The Complainant made several request for repayment of amount but in vain.  Opposite Party has adopted unfair trade practice by neglecting repayment of amount of fix deposit with interest and it is deficiency in service on the part of Opposite Party. Hence, this complaint for the reliefs mentioned in above para no.1.

4)        Opposite Party duly served with notice but remained absent hence, complaint proceeded ex-parte against Opposite Party. 

5)        Complainant has sumitted her affidavit of evidence.  The Complainant has filed written notes of argument.  We have gone through the documents filed by the Complainant.  we heard oral argument of Shri. Mansingh Patankar, Ld.Advocate for the Complainant.

6)        The Complainant has produced alongwith complaint xerox copy of special fixed deposit receipt bearing No.1087, dtd.29/11/2008.  On perusal of said document it is clear that Janseva Co-operative Credit Society Ltd., 457/9, Maulana Azad Road, Mumbai – 400 004 issued special terms deposit receipt in the name of Rajani B Rane and Complainant by accepting Rs.50,000/- and agreed to pay simple interest thereon @ 13% p.a. with benefit of reinvestment every quarter as a deposit repayable after 37 months.  the amount payable on maturity at the existing rate will be Rs.73,999/- i.e. on 29/12/2011.  The Complainant has submitted the said receipt with Opposite Party and requested for repayment of maturity amount on 16/03/2012. Opposite Party has received the receipt on 16/03/2012.  The concern officer made endorsement to that effect on the said receipt. The Complainant has deposed on oath in her affidavit of evidence all the above facts mentioned in the special terms deposit receipt. The Complainant has also stated on oath in her affidavit of evidence all the facts narrated by her in the complaint.  The Complainant has also submitted affidavit of evidence of one witness Shri. Mangesh Shankarrao Patankar.  The witness Mansingh Patankar has corroborated the evidence of the Complainant. As per the evidence of the Complainant and Mansingh Patankar, Rajani B. Rane is the sister of the Complainant.  Complainant is the joint holder of fixed deposit receipt and any one holder is entitled to the maturity amount.  The above evidence and document remained unchallenged.  There is nothing on record to disbelieve the above evidence and document. The evidence available on record shows that Complainant and her sister had invested Rs.50,000/- with Opposite Party on 29/11/2008 for the period of 37 months.  Opposite Party had agreed to pay simple interest thereon @ 13% p.a. and on its maturity amount was Rs.73,999/- on 29/12/2011.  The evidence of Complainant and witness Mansingh Patankar shows that the Complainant had requested on several times to the Opposite Party, its officer and Shri. B.K. Raje, Advocate for repayment of amount but in vain. The act of Opposite Party of non repayment of claim amount to the Complainant is deficiency in service on the part of Opposite Party. The Complainant has claimed interest on the maturity amount Rs.73,999/- @ 13% p.a. from the date of maturity i.e. 29/12/2011. Opposite Party is doing business of banking. The Complainant had invested the said amount to get the profit by way of interest.  The Complainant has claimed maturity amount Rs.73,999/- and interest thereon from 29/12/2011 till filing of complaint and Rs.19,240/- total Rs.93,230/-.  In view of the above discussion we hold that Complainant is entitled to Rs.93,230/- with interest thereon @ 13% p.a. from the date of filing of complaint, Rs.5,000/- compensation for mental harassment caused to her and Rs.3,000/- cost of the complaint.

            In the result complaint deserves to be allowed with cost.  Hence, we proceeds to pass following order –

O R D E R

i.       Complaint No.282/2013 is allowed with cost.

            ii.       Opposite Party is directed  to  pay  to  the  Complainant  Rs.93,230/- (Rs. Ninety Three Thousand Two Hundred Thirty Only) with

                      interest @ 13% p.a. from the date of filing of complaint till realization of the amount.  

                   iii.        Opposite Party is directed to pay to the Complainant Rs.5,000/-(Rs. Five Thousand Only)  compensation  for  mental torture

                              caused to her.

                 iv.         Opposite Party is directed to pay to the Complainant Rs.3,000/-(Rs. Three Thousand Only) towards cost of the complaint. 

          v.        Opposite Party is directed to pay the amount mentioned in above para Nos. ii to iv to the Complainant within one month from the

                     date of this order.  

         vi.        Certified copies of this order be furnished to the parties.