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

            The Complaint case, in brief, is as follows:-

The OPs 1 & 5 are the associate company with each other and OPs 2 to 4 are the Directors of OPs 1 & 5. Complainant invested Rs. 4,00,000/- and 2,30,000/- with the OPs 1 & 5 against Certificates/Bonds (Flexi Potato Purchase). The maturity date of those bonds were 30.03.2014, 21.05.2014,29.11.2013 and 14.12.2013 respectively. In spite of maturity, the OPs have failed and neglected to refund the agreed amount on different pretext and lastly on 10.12.2015 received the original bonds against receipts but ultimately failed to commit their assurance. The OPs have adopted unfair trade practice towards discharging their duties and liabilities and also cheated the Complainant. The Complainant has prayed for refund of the maturity amount including other reliefs in terms of Consumer Complaint.

            In spite of service of notices OPs 1 to 3 and 5 did not turn up to contest the case. As such, the case has proceeded ex parte against them.

OP No. 4 Mr. Soumen Ghosh has been exonerated from the case vide order no. 16 dated 12.11.2018 in connection with Misc. Application No. 32 of  2018 as he is no way connected with OP-1 with effect from 27.04.2013 i.e. prior to filing of the Complainant.

Point for Determination

1) Have the OPs 1 to 3 and 5 deficient in rendering service to the Complainant ?

2) Have the OPs 1 to 3 and 5 indulged in unfair trade practice?

3) Is the Complainant entitled to get the relief as prayed for?

Decision with Reasons

Points No. 1 to 3

All the points are taken up together for the sake of convenience and brevity in discussion.           

            To establish his case complainant has produced photocopies of certificates/bonds, money receipts, notice dated 15.09.2017 including postal registration receipts. On perusal of those certificates/bonds, we find that the Complainant invested Rs. 6,30,000/- with the OPs -1 & 5 and the maturity date of those certificates/ bonds were 30.03.2014, 21.05.2014, 29.11.2013, and 14.12.2013 respectively. In spite of maturity the OPs 1 to 3 and 5 did not refund the agreed amount. The complainant vide letter dated 15.09.2017 requested the OPs 1 to 3 and 5  to release the maturity amount but they have hot released any amount. We do not find any reason why the OPs collected the amounts from the depositors by issuing certificates/bonds and hold the amount as per their own discretion. We also observed that the OPs are holding public money for their own benefit and also harassing the public by inviting investment from their hard earned income. Therefore, we hold that the OPs demonstrated a gesture of deficiency in service and indulged in unfair trade practice. OPs have also caused harassment, mental pain and agony to the Complainant.

            Complainant corroborated his case by adducing evidence on affidavit as well as by producing documents. The evidence of the Complainant remains unchallenged and uncontroverted. In absence of any contrary and controverting materials on record and having regard to the documents on record, we are of the opinion that the Complainant has been able to prove his case. As such, the Complainant is entitled to get relief as prayed for. Thus, all the points under determination answered in the affirmative.

            In the result, the case succeeds in part.

Hence,

Ordered

            That  the Complaint case be and the same is allowed in part ex parte against the OPs 1 to 3 and 5 with litigation cost of Rs. 5,000/- (Rupees Five thousand) only.

            OPs 1 to 3 and 5 are jointly and severally directed to refund the maturity amount of Rs. 12,60,000/- (Rupees Twelve lacs sixty thousand) only to the Complainant within  45 days from the date of this order with litigation cost.

            OPs 1 to 3 and 5 are further directed to pay Rs. 25,000/- (Rupees. Twenty Five thousand) only to the Complainant for causing harassment, mental pain and agony within the stipulated period.

            OPs 1 to 3 and 5 are also directed to deposit Rs. 5,000/- (Rupees five Thousand) only to this Forum as punitive damage for practicing unfair trade within the specified period.

Liberty be given to the complainant to put the order into execution, if the OPs 1 to 3 and 5 transgress to comply the order.

Copy of the Judgment, be provided to the parties when applied for.