The case of the complainant is that he was trading in commodities through the OP with the Multi Commodity Exchange of India and the Multi Commodity Exchange of India suspended the OP from further dealings in the market. That a sum of Rs. 2,64,185.55 was lying in the books of OP to the credit of the complainant. Despite several reminders, the OP did not credit such amount to the bank account of the complainant for which complainant was compelled to file a complaint dated 12.12.2019 to Multi Commodity Exchange of India. The Multi Commodity Exchange of India passed an order directing the OP to immediately pay Rs. 2,64,185.55. Ultimately on 19.09.2020 the OP credited such amount to the bank account of the complainant but failed to pay interest @ 24% P.A. to the tune of Rs. 51,583/-. The act of the OP caused mental agony of the complainant and it is a serious breach of deficiency in service. Having no other alternative, complainant issued legal notice dated 26.02.2020 to the OP. Legal notice was unattended. Hence, the consumer complaint. Despite service of notice of the complaint, the OP did not appear to contest the case by filing written version. Thus, the case runs ex-parte against the OP. In support of his case, complainant Rajesh Choudhary tendered his evidence supported by an affidavit along with documents. We have heard the learned counsel for the complainant and have also carefully gone through the record of the case. The main grievance of the complainant is that despite legal notice dated 26.02.2020 the OP did not credit interest @ 24 % P.A. to the bank account of the complainant and there is clear deficiency in service and unfair trade practice on the part of the OP. Fact remains that complainant was trading in commodities through the OP with the Multi Commodity Exchange of India and the complainant was compelled to file a complaint to Multi Commodity Exchange of India. The Multi Commodity Exchange of India passed an order directing the OP to pay the balance amount of Rs. 2,64,185.55 to the complainant and ultimately the OP credited such amount to the bank account of the complainant on 19.09.2020 but failed to pay interest to the tune of Rs. 51,583/- despite legal notice dated 26.02.2020. Such act of the OP is tantamount to unfair trade practice as well as deficient in service. Due to non payment of interest complainant suffered mental agony. Thus, the allegation of the complainant regarding non payment of interest is true. Multi Commodity Exchange of India passed an order dated 30.12.2019 directing the OP to pay the claim amount to the complainant immediately but despite such order the OP did not credit Rs. 2,64,185.55 to the bank account of the complainant and ultimately on 19.09.2020 they credited such amount to the bank account of the complainant. There is delay in payment of Rs. 2,64,185.55 for which the complainant is entitled to get interest over the amount of Rs. 2,64,185.55. There is deficiency in service and unfair trade practice on the part of the OP. Complainant claims interest @ 24 % P.A. which in our opinion is too much. In our opinion the complainant is entitled to get interest @ 7 % P.A. from 19.09.2020 till realization, compensation and litigation cost. In view of the aforesaid discussion, we are inclined to allow the prayer of the complainant in part and the following direction is given to the OP :- - The OP is directed to pay interest @ 7 % P.A. since 20.09.2020 till the date of realization over the amount of Rs. 2,64,185.55.
- The OP is also directed to pay compensation of Rs. 10,000/- to the complainant for his mental agony.
- The OP is further directed to pay Rs. 5,000/- towards litigation cost to the complainant.
Thus the consumer case is disposed of in part ex-parte against the OP. The OP is directed to comply the order within 90 days from the date of this order. Supply free copy of the judgment to the parties and upload the judgment on the website of the commission. | 
