Per Mr.B.S.Wasekar, Hon’ble President 

 1)                The present complaint has been filed by the complainant u/s 12 of the Consumer Protection Act, 1986. According to the complainant, he had invested amount of Rs.20,000/- with the O.P./Company in fixed deposit scheme on 11^th December, 2009 at the rate of 10.50% per annum payable quarterly.  The maturity date was 10^th December, 2011. Earlier, the opponent/Company issued two cheques for Rs.121/- and Rs.518/- being the interest for the period from 11^th December, 2009 to 31^st December, 2009 and 1^st January, 2010 to 31^st March, 2010.  Thereafter, the opponent failed to pay the interest.  The opponent informed the complainant that the company is facing various problems and the company had already almost stopped the working. The complainant requested the opponent to release his amount for his urgent need being the senior citizen of 92 years. The complainant has to recover from the opponent principal amount of Rs.20,000/- and interest total amount of Rs.27,682/-.  Therefore, the complainant has filed this complaint. He has also claimed compensation for mental agony Rs.5,000/- and cost of Rs.5,000/-. 

2)                The opponent/Company remained absent though duly served therefore the matter is proceeded exparte against it.  The complainant filed affidavit of evidence and produced the copies of documents and notices.  The complainant has produced copy of fixed deposit receipt showing that the complainant invested Rs.20,000/- with the opponent/Company with interest at the rate of 10.50% per annum. The opponent/Company paid interest only for one quarter and thereafter failed to pay interest as well as to refund the principal amount. The opponent/Company has shown the problem with company. The complainant is a senior citizen aged about 92 years.  It is his hard money.  He is in need of money.  Even though the company is under liquidation still the complainant is entitled to recover the amount from the opponent/Company after following due procedure. The evidence produced by the complainant is not challenged by the opponent/Company.  The evidence on record is sufficient to show that the complainant invested Rs.20,000/- with the opponent/Company. The opponent has not refunded the amount therefore the complainant is entitled to recover it from the opponent/Company. 

3)                The learned advocate for the complainant has placed reliance on the judgment of our State Commission in First Appeal No.180 of 2006 dated 6^th June, 2008 in the case of Ms.Mabel D’Souza –Versus- M/s.Alpic Finance Limited and Anr.  In this judgment, the Hon’ble State Commission has laid down as under

The depositors at present are unsecured creditors. The secured creditors can very well approach the Official Liquidator appointed by the Hon’ble Bombay High Court.  The District Consumer Forum ought to have decided the complaint on merits and should have passed appropriate award. The Form below in case of Recovery Application could look into the directions of the Hon’ble Bombay High Court as to how and in what manner the award passed by the Consumer For a has to be enforced.  If there are restrictions put by the Hon’ble Bombay High Court, the Executing Court will consider the directions of the Hon’ble Bombay High Court at the time of executing the award.  The Forum below has committed a serious error in dismissing the complaint without going into the merits of the case. 

Similar situation is in the present complaint. Therefore, the complainant is entitled to recover the amount from the opponent after following due procedure as stated in the abovecited judgment.

4)                The complainant claimed compensation Rs.5,000/- for mental agony and Rs.5,000/- as cost of this proceeding.  The opponent failed to pay the amount in spite of demand thereby the complainant suffered form mental agony.  Hence, the opponent is liable to pay compensation to the complainant. We think compensation of Rs.5,000/- is reasonable.  Besides this, the complainant is entitled for cost of this proceeding Rs.2,000/-.  Hence, we proceed to pass the following order.

O R D E R

1. Complaint is allowed.
2. The opponent/Company is directed to pay Rs.27,682/- (Rs.Twenty Seven Thousand Six Hundred Eight Two Only)  to the complainant with interest at the rate of 9% per annum from the date of filing of the complaint i.e. 13^th August, 2013 till realization.
3. The opponent/Company is also directed to pay Rs.5,000/- (Rs.Five Thousand Only) to the complainant as compensation towards mental agony and Rs.2,000/- (Rs.Two Thousand Only) as cost of this proceeding.  
4. The above order shall be complied with within a period one month from today.
5. Copies of this order be sent to the parties free of cost.

Dictated and Pronounced on

19^th June, 2014