Haryana

Kurukshetra

CC/172/2021

Shanti Devi W/o Shri Charan Dass - Complainant(s)

Versus

Kuldeep Singh - Opp.Party(s)

Shekhar Kapoor

25 Oct 2021

ORDER

BEFORE THE DISTRICT CONSUMER DISPTUES REDRESSAL COMMISSION, KURUKSHETRA.

 

Complaint Case No.172 of 2021.

Date of instt: 1.07.2021. 

                                                          Date of Decision: 25.10.2021

 

Shanti Devi wife of Shri Charan Dass, resident of village Sandholi, District Kurukshetra.

                                                          ……..Complainant.

                             Vs.

 

1.Kuldeep Singh son of Balbir Singh son of Lal Singh, resident of village Dewana near Gupta Bricks Bhatta, Tehsil Pehowa District Kurukshetra Mobile No.9996087200.

 

2.Lotus Agricultural & Marketing Cooperative Society Limited, registered office at 605-A, Pearls Business Park, D-7, Netaji Subhash Place, Wazir Pur, Disitrict Centre, New Delhi 110034 through its Marketing Director/Authorized person.

 

                                                  ..………Opposite parties.

 

                Complaint under section 35 of Consumer Protection Act.             

 

Before         Smt.   Mrs. Neelam Kashyap, President.

                   Ms. Neelam, Member.

                   Sh.Issam Singh Sagwal, Member.

 

Present:      Sh. Shekhar Kapoor  Advocate for the complainant.

                   OP No.1 and 2 ex parte.

ORDER:

 

 

                   This is a complaint under Section 35 of the Consumer Protection Act, 1986 moved by complainant Smt. Shanti Devi  against  Kuldeep Singh  etc, the opposite parties.

2.                Brief  facts of the present complaint are that complainant  purchased Cash deposit Certificates bearing receipt No.F000001879 on 23.6.2015 for Rs.20,000/- with term 6 years and matured amount of the said Cash  deposit Certificate is Rs.36540/- and receipt No.F000001781 dated 21.5.2015 for Rs.50,000/- with  six years matured amount of the said Cash deposit Certificate is Rs./91350/- from OP No.2 through OP No.1. 10% extra expected return after expiry was also given.  The complainant also purchased share vide share application money receipt membership No. LOM1025000000369 dated 23.6.2015 for a sum of Rs.110/- on account of Rs.10/- fee and Rs.100/- as share application for 10 number of share of 10 each.  It is submitted that now the said Cash deposit  Certificates have matured and the complainant approached the Ops and requested to release the  matured amount . The Cash  deposit Certificates have been received by the OPs from the complainant but the Ops have not paid any amount to the complainant in spite of repeated requests and demands which amounts to deficiency in services on the part of the Ops.  Thus, the complainant has filed the present complaint alleging deficiency in services on the part of the Ops and prayed that the Ops be directed to release the matured amount alongwith 10 % extra  on the said amount as special offer and amount of shares with all benefits alongwith  compensation.

 

3.                Notice of the complaint was given to the Ops and the  Ops were duly served upon but failed to appear and contest the case. Therefore, both the Ops were proceeded against ex parte vide order dated 1.09.2021.

4.                The complainant in support of her case have filed affidavit Ex.CW1/A and tendered documents Ex.C-1 to Ex.C-5 and closed her evidence.

5.                We have heard the learned counsel for the complainant and gone through the material available on the case file.

6.                The learned counsel for the complainant while reiterating the averments made in the complaint has argued that that complainant  purchased Cash deposit  Certificates bearing receipt No.F000001879 on 23.6.2015 for Rs.20,000/- with term 6 years and matured amount of the said Cash deposit  Certificate is Rs.365540/- and receipt No.F000001781 dated 21.5.2015 for Rs.50,000/- with  six years matured amount of the said Cash deposit  Certificate is Rs./91350/- from OP No.2 through OP No.1. 10% extra expected return after expiry was also given.  The complainant also purchased share vide share application money receipt membership No. LOM1025000000369 dated 23.6.2015 for a sum of Rs.110/- on account of Rs.10/- fee and Rs.100/- as share application for 10 number of share of 10 each.  It is submitted that now the said Cash deposited have matured and the complainant approached the Ops and requested to release the  matured amount .The Cash Certificates have been received by the OPs from the complainant but the Ops have not paid matured  amount to the complainant in spite of repeated requests and demands which amounts to deficiency in services on the part of the Ops. 

 

                As per Master Direction DCBR.Dir.No.1/13.01.000/2015-16 May 12, 2016 (Updated as on July 02, 2021) Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016

               

                 In exercise of the powers conferred by Sections 21 and 35 A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter specified..

         

             In this case Ex.C-1 shows membership No.LOM1025000000349 and contribution No.LONI025000000937 for Rs.50,000/- for a period of six years and as per Ex.C-2 shows membership No.LOM1025000000369 and contribution No.LONI025000000937 for Rs.20,000/- for a term period of six years and  in both the deposits the complainant/depositor is entitled to Rs.91350/-   and Rs. 36540/- respectively with 10% special offer in both the cases and as per Section  xviii) of the above Master Direction , "Term deposit" means interest bearing deposit received by the bank for a fixed period and shall also include deposits such as Recurring / Cumulative / Annuity / Reinvestment deposits and Cash Certificates.  The cash deposit is term deposit as per definition of Reserve Bank of India. The Ops  refused to pay the matured amount amounts to deficiency in services on the part of the Ops.

 

7.                The version put forwarded by the learned counsel for the complainant completely goes unrebutted and unchallenged and it is proved that complainant deposited Rs.50,000/-   vide  membership No.LOM1025000000349 and contribution No.LONI025000000937 Ex.C-1 with term 6 years and matured amount of the said cash deposit certificate FICATE/Membership/contribution  is Rs. 1,08020/- with 10% extra special offer and  as per membership No.LOM1025000000369 and . contribution No.LONI025000000937 Ex.C-2 for Rs.20,000/- for a term period of six years and  in both the deposits the complainant/depositor is entitled to Rs. 40,194/-/- respectively.  These facts are also corroborated from the copy of Cash deposit Certificate Ex.C-1 and Ex.C-2. Therefore, the complainant is entitled to payment of Rs.1,00,485/- in respect of Cash deposit certificate Ex.C-1 and also entitled to Rs.40194/- in respect of Cash deposit certificate Ex.C-2 alongwith interest and compensation etc from OP No No.2. However, OP No.1 is merely an agent and complaint qua OP No.1 deserves to be dismissed.  No case is made out so far as purchase of share etc. is concerned.

8.                In view of our above discussion, we accept the present complaint and direct the OP No.2 to make the payment of Rs.1,00,485/- in respect of Cash deposit certificate Ex.C-1 and also entitled to Rs.40194/- in respect of Cash deposit certificate Ex.C-2 alongwith interest further interest on both the amounts as mentioned above   @ 6% per annum from the date of filing of the present complaint i.e. 1.07.2021 till its actual realization. The  complainant shall also be entitled to Rs.10000/- in lump sum as compensation for the mental harassment and agony caused to the complainant  and for the litigation expenses. The OP No.2 is   further directed to make the compliance of this order within a  period of  45 days from the date of preparation of certified copy of this order, failing which, the complainant will be at liberty to initiate proceedings under Section 71 of the Act against the OP No.2. However, the complaint qua OP no.1 is hereby dismissed. Certified copy of this order be supplied to the parties concerned, forthwith, free of cost as permissible under Rules. File be indexed and consigned to the record-room, after due compliance.

 

Announced in open commission:

Dt.:25.10.2021                                                     (Neelam Kashyap)

                                                                                  President.

 

 

(Issam Singh Sagwal),              (Neelam)         

 Member                                   Member.