DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR

                                                                    Complaint No. 191

Instituted on:    09.05.2017

                                                                   Decided on:      18.10.2017

Gurmail Kaur wife of Shri Ram Singh, resident of Village Sultanpur Badrama, Tehsil Malerkotla, District Sangrur.

                                                        …. Complainant.      

                                         Versus

1.     Kanakdhara Bullion Ltd. through its Branch Manager, SCO-1, First Floor, Kaula Park, Near Hotel Hot Chop, Sangrur.

2.     Kanakdhara Bullion Ltd. through its Managing Director, Registered Office: 1166/1095/2, Kucha Mahajani, Chandani Chowk, Delhi-110006.

             ….Opposite parties.

FOR THE COMPLAINANT:     Shri Rohit Jain, Advocate                          

FOR OPP. PARTIES           :      Exparte.

Quorum

                   Sukhpal Singh Gill, President

                   Sarita Garg, Member

                   Vinod Kumar Gulati, Member

ORDER:  

Sukhpal Singh Gill, President

1.             Smt. Gurmail Kaur, complainant (referred to as complainant in short) has preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that she invested an amount of Rs.1,20,000/- with the Ops in single premium policy, namely, Gold/silver Accumulation Certificate bearing number Chd-012016008 on 10.2.2016 for one year and on maturity the OPs were liable to return/repay the amount in question i.e. Rs.1,20,000/- along with interest for twelve months i.e. Rs.11,256/- total Rs.1,31,256/- after one year i.e. on 10.2.2017. The grievance of the complainant is that on maturity the complainant approached the Ops for payment of the maturity amount, but the same was not paid despite requests and submission of the various desired documents.  As such, alleging deficiency in service on the part of OPs, the complainant has prayed that the Ops be directed to make the payment of Rs.1,31,256/- along with interest @24% per annum from the date of maturity till realization and further claimed compensation and litigation expenses.

2.             Record shows that the Ops did not appear and as such were proceeded exparte.

3.             The complainant has tendered documents Ex.C-1 affidavit, Ex.C-2 copy of certificate, Ex.C-3 copy of legal notice, Ex.C-4 and Ex.C-5 copies of postal receipts and closed evidence.

4.             From the perusal of the documents placed on the file and after hearing the arguments of the learned counsel for the parties, we find that the complainant had invested an amount of Rs.1,20,000/-  in single time installment for the period of one year i.e. on 10.02.2016 with the maturity date as 10.2.2017  by way of FDR, copy of which on record is as Ex.C-2 and it shows that that on maturity the amount of Rs.1,31,256/- was payable to the complainant, but the same was not paid despite approaching the OPs so many times.    Ex.C-2 is the copy of certificate/policy in question on record which clearly reveals that the complainant deposited the above said amount with the Ops.  It is worth mentioning here that the complainant got served a legal notice dated 4.4.2017 upon the Ops, a copy of which on record is Ex.C-3, but nothing happened nor the Ops replied the legal notice. As such, we feel that it is the duty of the OPs to release the agreed/maturity amount, which the Ops have failed to release. There is no explanation from the side of the Ops that why the Ops did not release the due amount to the complainant, as such, we find it to be a clear cut case of deficiency in service on the part of the Ops. 

5.             For the reasons recorded above, we feel that the OPs have miserably failed to repay the invested/ deposited amount to the complainant and as such we allow the complaint of the complainant and direct the OPs to pay to the complainant an amount of Rs.1,31,256/- along with interest @ 12% per annum from the date of maturity i.e. 10.02.2017 till realization. We further order the OPs to pay to the complainant a sum of Rs.3500/- as compensation on account of mental pain, agony and harassment and also to pay to the complainant a sum of Rs.1500/- as litigation expenses.

6.             This order of ours shall be complied with  within a period of 30 days from the receipt of copy of this order.  A copy of the order be supplied to the parties free of charge. File be consigned to records in due course.

Pronounced.

                October 18, 2017.

                                                        (Sukhpal Singh Gill)

                                                                President

                                                             (Sarita Garg)

                                                                 Member

                                                        (Vinod Kumar Gulati)

                                                                 Member