Order-8.

       Date-11/12/2017.

       AUTHORED BY. SRI RABIDEB MUKHOPADHYAY

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

Complainant is a seniorcitizen of India and permanently residing at the above mentioned address The Complainant purchased one Bond under the OP-1 being the Company under the Companies Act, 1956 and OP 2 and 3 are the Director and Managing Director of OP-1. The Complainant invested a total sum of Rs.50,000/- only with the OPs in the following manner .

Sl.No.  Policy No.         Dt. of purchase             Invested amount      Maturity Amount

1. P1110065258              24.01.2013                      Rs.50, 000/-         Rs.60, 000/- to 1, 00,000

            From the month of maturity the OPs have failed and neglected in making payment of the aforesaid agreed returnable amount in connection with the said bond vide Policy No.P1110065258. Complainant immediately contacted with the OPs and they assured that all dues would be paid properly within very short time from the date of maturity. On Maturity the OPs denied to receive then original bond on various pretext and lastly on 7^th January,2016 the representative of the OPs received the original bond from the complainant and also put his signature and stamp on the Xerox copy of the said bond and further assured that the maturity payment will be made within a short period from the date of receiving the original bond i.e. 7^th January,2016. The Complainant based on such assurance of OPs waited a long period but in spite of such assurances ultimately the OPs failed to give honour to their commitment. The Complainant visited the office of the OPs, but found the office is under lock and key. The Complainant somehow managed to know of the present address of OP-2 and personally contacted with them and demanded his maturity amount but they just harassed the Complainant which is tantamount to the unfair trade practice on the part of the OPs. This is sheer pre-planned motive, the OPs induced the Complainant to deposit money in their Bond and ultimately they did not keep their assurances in any way and have misappropriated the money of the Complainant.

            The Complainant being a senior citizen has rushed from pillar to post for getting his deposited money but all efforts were in vain and with a view to get speedy justice for his invested money and harassment the Complainant has come before this Ld. Forum as he is in urgent need of money. Complainant submitted all relevant documents in support of this claim at the time of hearing of this case.

            The main objects of the OPs are to cheat the Complainant. The Complainant issued letter on 19^th July, 2017 and claimed his maturity amount but till date he has not received any amount from the OPs. The Complainant prays before your honour that he is legally entitled to get the total maturity amount which is up to Rs.1, 00,000/- from the OPs since the suit arose on and from 7^th January, 2016 when the OPs received the original Bond from the Complainant and the same is continuing day to day within the jurisdiction of this Ld. Court. The Complainant prayed to the Forum to pass an order by directing the OPs to refund Rs.1,00,000/- the highest maturity money which is lying to the OPs for investment plus bank rate of interest till realization of the said amount and to pay a compensation of Rs.30,000/- only for unfair trade practice and causing physical and mental harassment of the Complainant and Rs.10,000/- for litigation cost.

Point for Decision

1. Whether the complainant is a consumer under the OPs;
2.  Whether the complaint is maintainable;
3. Whether the complainant deserves Relief.

Decision with Reasons

 The OPs did not turn up in spite of the notices being received by the Director and the Managing Director themselves and failed to file their version against the allegations.

 This means that they indirectly admitted their fault of deficiency in not keeping their promises given in the Certificate/Bond of Flexi Potato Purchase.

            We have perused the said certificate, Evidence and the letter complainant sent to OPs on 19/7/2017 requesting payment of matured amount. The OPs did not even reply to that letter.

We observe that OP Company has withheld the amount deposited by the complainant even after the date of maturity and has been utilizing the same for their own ulterior gain.  OPs have failed and neglected to pay the matured amount of the certificate to the complainant.  We also observe with anxious thought that the OP Company is holding the public money for their own benefit and expansion of business and thus harassing the public inviting investment from their hard-earned income.  We think that OPs are deficient in rendering services to the complainant.  OPs have also indulged in unfair trade practice by extracting money from the public at large for their own benefit and ulterior gain.  The Evidence-on-Affidavit filed by the complainant also remains unchallenged and uncontroverted from the side of the OPs. The OPs could not file any version as well in controverting the allegations of the complainant, thereby admitting indirectly the allegations of the complainant.

As a logical corollary of the discussion as made above and having regard to the documents and evidences on record we think that the complainant being a consumer under the OPs is entitled to get the relief as prayed for.

Consequently the case merits success.

Hence, we are constrained to pass

ORDER

That the complaint be and the same is allowed exparte in terms of section 13(2)(b)(ii) of the Consumer Protection Act, 1986 as amended, against the OPs;

That the OPs are jointly and severally directed to pay back to the complainant the amount of Rs 100000/- as assured in the certificate, along with compensation of Rs 5000/- and litigation cost of Rs 5000/-within 30 days from the date of this order;

            That the OPs are further directed to jointly and severally pay Rs 20000/- for adopting unfair trade practice within 30 days from the date of this order, and the said amount is to be deposited with this Forum;

            That on non-compliance of above orders by the OPs, the complainant is at liberty to put the orders into execution under section 27 of the Act ibid.

             Let copies of the order be handed over to the parties when applied for.