Order-9.

Date-15/01/2018.

       Smt. Sangita Paul, Member.

This is an application u/s.12 of the C.P. Act, 1986.

Complainant by filing this complaint states that he invested his money to the O.Ps. Complainant purchased three bonds from the O.Ps. Complainant invested a total sum of Rs.2,80,000/- before the O.Ps. in the following way-

   Policy Nos.             Sl. Nos.          Date of Sale              Invested                     Maturity

(Purchase Date)       Amount            Amount

P1110038877          S32598         11/10/2013              Rs.60,000/-              Rs.72,000/- to Rs.1,20,000/-

P1110043752           S36881          15/11/2013                Rs.70,000/-                Rs.84,000/- to Rs.1,40,000/-

P1110044286           536898           20/11/2013                Rs.1,50,000/-           Rs.1,80,000/-

to Rs.3,00,000/-

From the month of maturity the O.Ps. failed and neglected to make the aforesaid agreed return in connection with three bonds, vide policy Nos.P1110038877, P1110043752 and P1110044286. Immediately after such non-payment of return amount of the said two bonds. Complainant personally contacted with the O.Ps. and demanded his legitimate claim. It was assured by the O.Ps. that all dues will be paid properly within very short span of time from the date of maturity but at the time of maturity denied to receive original bonds from complainant showing excuse one after another and lastly on 24/08/2015 the office staff of the O.Ps. received the bonds from complainant and also put his signature on the photocopies of the said three bonds and further assured that maturity payment will be made within short period from the date of receiving the original bonds i.e. 24/08/2015. Depending upon such assurance on the part of the O.Ps. complainant waited for a long period from the date of receiving  the original three certificates. In spite of such assurances the O.Ps. failed to honour the commitment. Complainant requested for several times complainant again went to meet with the O.Ps. since then all offices of the O.Ps.-1 and 2 are lying under lock and key.

            Somehow, the complainant managed to get the present address of the O.Ps.-3 and 4, then he personally contacted with them and demanded his matured amount, but O.Ps.-3 and 4 harassed complainant which tantamount to unfair trade practice on the part of the O.Ps.

            In a pre-planned motive O.Ps. induced complainant to deposit money in their bonds and ultimately they did not keep their assurances and promises in any way and misappropriated the hard earned money of complainant. Complainant has rushed from pillar to post  for getting back his deposited money but all efforts were in vain. With a view to speedy justice for the invested money he approached the Ld. Forum. Complainant is in urgent need of fund. Complainant has been harassed and humiliated repeatedly by the O.Ps. The O.Ps. did not pay any amount to complainant till the institution of this complaint. Main object of the O.ps. is to cheat complainant  and complainant also issued letter on 16/06/2017 and claimed the maturity amount but complainant did not get any amount. Complainant submits that he is legally entitled to the maturity amount which is up to Rs.5,60,000/- only from the O.Ps. Hence complainant prays for directing to refund Rs.5,60,000/- the highest maturity amount which is lying to the O.Ps. for investment with banking rate of interest till utilization of the said amount. Complainant also prays for compensation of Rs.1,00,000/- for deficiency of service, for causing physical and mental harassment of complainant and Rs.20,000/- for litigation cost.

            Notice was sent to O.Ps.-3 and 4 on 02/08/2017, O.P.-1  on 28/08/2017, the name of O.P.-2 was expunged as per prayer of complainant. Other O.Ps. were also absent on call in spite of service of summons. On 10/10/2017 O.P.-1 and 3 were absent on call. No written version was filed by the above mentioned O.Ps.- On 27/10/2017 the case was fixed for ex-parte hearing. Complainant files BNA and evidence-in-chief on 13/11/2017. Argument was heard on 30/11/2017. Then we proceeded for giving judgement.

Decision with Reasons

We have travelled over the documents like complaint petition, evidence-in-chief, photocopies of annexures and letters to the O.Ps. lying on record. It appears that complainant purchased potato bond of Rs.60,000/- and the date of sale was 11/10/2013 and the return of investment value was supposed to be between Rs.72,000/- to Rs.1,20,000/- only. Complainant purchased another Flexi Potato Bond at Rs.70,000/- from the O.Ps. in respect of Flexi Potato purchased and the date of sale was 15/11/2013 and the return on investment value was supposed to be between Rs.84,000/- to Rs.1,40,000/- only. Complainant purchased another Flexi Potato Bond at Rs.1,50,000/- and the date of sale was 20/11/2013 and the return on investment value was Rs.1,80,000/- to Rs.3,00,000/- only. We have perused that O.Ps. have failed and neglected to repay the final return on investment of Rs.60,000/-, Rs.70,000/- and Rs.1,50,000/- only. Complainant is in great anxiety for not getting the assured return. His bonds have been matured on 11/10/2013, 15/11/2013 and 20/11/2013. He informed the O.P. company that his policies were matured. Complainant was anxious as to whether the O.P. company viz. Ma BhairabiHimghar Pvt. Ltd. would be able to refund the invested amount of Rs.2,80,000/-(three bonds taken together). He wrote letter to the O.Ps. and personally contacted with the O.Ps. He also mentioned that on 24/08/2015 the O.Ps. received the original bonds and assured complainant to pay the maturity amount within a short period of time. Therefore, complainant visited O.P.’s office and residential premises but O.Ps. failed to refund the invested amount and interest sharinglame excuse. At present, they are denying to pay the matured amount. Complainant requested earnestly but failed to get the matured amount. The O.P. has collected money by selling potato bonds, now they are not they are not in a position to pay the same. Earlier the O.Ps. assured complainant of assured return of invested amount in the form of potato flexi bond. But the O.ps. failed to render the adequate service which they are bound to discharge. It was not easy to track the O.ps. Somehow, he managed to get the address of the O.Ps. and contacted with them. In spite of several attempts complainant failed to track them. The O.Ps. are unable to disburse the amount. These kind of activities of the O.ps. constitute a case of deficiency in service and unfair trade practice. O.Ps. thus were holding public money for their own benefit and harassing complainant who invested hard earned money for earning profit. Complainant, a senior citizen has prayed for redressal against Ma Bhairabi Himghar Pvt. Ltd.  So the case is governed under deficiency of service as envisaged under C. P. Act, 1986. The company has committed unfair trade practice upon complainant and public at large. Obviously they are guilty of deficiency of service. As O.Ps. are absent and did not contest the case they are deficient in service and O.P. needs to give compensation for deficiency in service and unfair trade practice for intentional and deliberate negligence.

In result, the case succeeds.

Hence,

Ordered

That the case be and the same is allowed ex-parte against the O.Ps.

            O.Ps. are jointly and severally directed to pay the maturity amount  of Rs.72,000/-, Rs.84,000/- and Rs.1,80,000/- amounting to Rs.3,36,000/- with interest  at the rate of 9 percent p.a. along litigation cost of Rs.10,000/- within one month from the date of this order.

            O.ps. are directed to pay compensation of Rs.15,000/- within the stipulated period.

            O.Ps. are directed to pay Rs.10,000/- for practicing unfair trade practice to be paid to this Forum.

            In case of non-compliance of the order of this Forum complainant will be at liberty to put the order into execution and in that case O.Ps. have to pay penalty.