1. Satyabrata Banerjee,
2. Aparna Banerjee,  both of

            33/1, Mahatma Gandhi Road, Budge Budge,

            Dist. 24 Parganas South, Kolkata-700137.                                                       _________ Complainants

____Versus____

1. MPS Greenary Developers Ltd.

            MPS ENCLAVE, P-112, Block-B,

            Lake Town, Kolkata-89.

1. The Director,    

MPS Greenary Developers Ltd.

15/A, Fern Road, Ballygunge,

Kolkata-19, P.S. Ballygunge.                                                                        ________ Opposite Parties

Present :           Sri Sankar Nath Das, Hon’ble President

                          Dr. Subir Kumar Chaudhuri, Member.

                        Smt.  Samiksha Bhattacharya, Member

Order No.   9    Dated   20/11/2014.

          The case of the complainant in short is that complainants purchased an Agro Bond for 36 months from o.p. by paying Rs.7000/- as 1^st payment on 26.8.10. The mode of payment was Rs.7000/- monthly. The date of return was 26.8.13  and the quantum of final return was Rs.3,02,984/-. Accordingly, complainants made the payment of Rs.7000/- regularly to o.ps. for every month within the reasonable period of time on and from 26.8.10 to 19.3.13. Complainants paid 32 installments instead of 36 installments as o.ps. are refused to accept the last 4 installments. As per terms and conditions on 25.7.13 i.e. before one month from the date of maturity of the Bond complainants duly deposited the original Bond to o.ps. to get back the maturity amount after deducting the amount Rs.28,000/- (Rs.7000 x 4). O.ps. duly received the same. O.ps. assured that the matured amount shall be sent to complainants within 7 days from the date of maturity. But o.ps. did not send any amount. On 4.10.13 complainants sent a letter to o.ps. with a further request to return the amount for the aforesaid Bond, but o.ps. did not pay any heed though they have received the letter. Finding no other alternative complainants have filed the instant case with prayer for refund the amount of Rs.2,74,984/- along with compensation and cost.

            Though the notices were served upon o.ps. they did not turn, so the matter was fixed ex parte as against them.

Decision with reasons:

            We have gone through the evidence and documents in particular. it is admitted fact that complainants have purchased the Agro Bond in question being PR No. 1108540 and the Bond No.FR010 A/08/10/013607 on 26.8.10. The consideration amount was Rs.7000/- and the quantum of final return was Rs.3,02,984/-. We have gone through the receipts of Rs.7000/- paid by complainants. Complainants have annexed 32 periodical investment deposit slip towards the payment of their 32 EMIs. Due to unchallenged testimony there is nothing to disbelieve the documents and we are of the view that there is deficiency in service on the part of o.ps. Complainants have paid for Rs.2,24,000/- in total for the period from 26.8.10 to 19.03.13. The original Agro Bond was received by o.p. no.2. So, complainants have substantiated their case and they are entitled to get relief.

            Hence, ordered,

            That the case is allowed ex parte against the o.ps. with cost. O.ps. are jointly and/or severally directed to refund Rs.2,24,000/- (Rupees two lakhs twenty four thousand) only which was paid by complainants and are further directed to pay to the complainant compensation of Rs.60,000/- (Rupees sixty 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 @ 10% 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.