Date of filing : 18/11/2014

Order no. 23

         The case of the complainant in brief is that the complainant deposited a sum of Rs.2 lakhs to o.p. at its branch office at Jamshedpur. The name was deposited to get 2000 nos. preference shares each of Rs.100/-. The complainant was provided with letter of allotment including 2000 nos. of shares with a redemption amount of Rs.3,40,000/-. The complainant received the same by a post dated cheque dt.7.10.13 amounting to Rs.3,40,000/-. The complainant received the said amount by a cheque dt.24.6.13 being branch code no.5512 and the same was signed by the accountant since the accountant had no authority to sign the cheque, therefore the cheque was not accepted by the bank and the same was returned to the complainant. On the basis of the said fact the complainant filed this case praying for direction upon the o.ps. for refund of amount of Rs.3,40,000/- and compensation of Rs.16 lakhs and litigation cost of Rs.5000/-.

         In spite of receipt of notices the o.ps. did not contest this case by filing w/v and as such, the case has proceeded ex parte against the o.ps.

          In order to prove the case the complainant filed an affidavit on evidence whereby he stated that he deposited a sum of Rs.2 lakh s to o.p. at its branch office at Jamshedpur. The name was deposited to get 2000 nos. preference shares each of Rs.100/-. The complainant was provided with letter of allotment including 2000 nos. of shares with a redemption amount of Rs.3,40,000/-. The complainant received the same by a post dated cheque dt.7.10.13 amounting to Rs.3,40,000/-. The complainant received the said amount by a cheque dt.24.6.13 being branch code no.5512 and the same was signed by the accountant since the accountant had no authority to sign the cheque, therefore the cheque was not accepted by the bank and the same was returned to the complainant. On the basis of the said fact the complainant filed this case praying for direction upon the o.ps. for refund of amount of Rs.3,40,000/- and other reliefs.

          The complainant in order to prove the case also filed photocopy of the cheque issued by o.ps. The evidence of the complainant has remained unchallenged; therefore we have no other alternative but to accept the case of the complainant. Accordingly we hold that there is deficiency in service on the part of o.ps. and as such, the complainant will be entitled to get the relief as prayed for. Thus all the points are disposed of accordingly.

          Hence, ordered,

         that the case no. CC/698/2014 is allowed ex-parte with cost against the o.p.s. The o.p.s are jointly and/or severally directed to pay the amount of Rs. 3,40,000/- (Rupees three lakhs forty thousand) only to the complainant along with compensation of Rs. 30,000/- (Rupees thirty thousand) only for harassment and mental agony and litigation cost of Rs. 5000/- (Rupees five thousand) only within 30 days from the date of communication of this order, i.d. an interest @08% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.        

         Supply certified copy of this order to the parties free of cost.