DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, BATHINDA

CC.No.346 of 23-08-2013

Decided on 22-11-2013

Hoshiar Aulakh aged about 43 years S/o Jugraj Singh R/o 27334, Hari Singh Nagar, near Police Colony, St.No.5, Bathinda.

........Complainant

Versus

1.NGK Agriculture, (Formerly NGHI Developers India Ltd.), HO:B-36, Multan Nagar, Rohtak Road, New Delhi-110056, through its Chairman/Managing Director.

2.NGK Agriculture, (Formerly NGHI Developers India Ltd.), Regional Office:O/s Zira Gate, near Anaz Mandi, Ferozepur City, through its Regional Manager.

3.Branch Manager, NGK Agriculture, (Formerly NGHI Developers India Ltd.), SCF 33, IInd floor, Bharat Nagar, Shopping Complex, Bathinda.

.......Opposite parties

Complaint under Section 12 of the Consumer Protection Act, 1986.

QUORUM

Smt.Vikramjit Kaur Soni, President.

Sh.Amarjeet Paul, Member.

Smt.Sukhwinder Kaur, Member.

Present:-

For the Complainant: Sh.Hanish Bansal, counsel for the complainant.

For Opposite parties: Opposite parties ex-parte.

ORDER

VIKRAMJIT KAUR SONI, PRESIDENT:-

1. The instant complaint has been filed under section 12 of the Consumer Protection Act, 1986 as amended upto date (Here-in-after referred to as an 'Act') by the complainant. Briefly stated the case of the complainant is that Harjinder Singh @ Happy agent of the opposite parties approached him and allured him to deposit the money in fixed deposit with the opposite party No.1 for earning the handsome interest thereon and informed him that if he deposits Rs.1 lac with their company for the period of 84 months, on maturity, he would be paid Rs.2 lacs. The abovesaid agent further assured the complainant that after two and half years from the date of deposit, he can withdraw the amount deposited by him and would be paid interest by the company for the period of deposit @ 12% p.a. On the allurement of the abovesaid agent, the complainant agreed to deposit the amount in fixed deposit. The complainant approached the opposite party No.3 and deposited Rs.1 lac with the opposite party No.1 on 25.9.2010 for the period of 84 months till 25.9.2017 in the name of his minor daughter Parminder Kaur and was issued registration letter-cum-receipt bearing No.0055126 dated 25.9.2010 by the opposite party No.1, according to this on 25.9.2017 an amount of Rs.2 lacs was payable to the complainant. Thereafter the complainant deposited Rs.1 lac with the opposite party No.1 in his name on 30.9.2010 for the period of 84 months till 30.9.2017 and was issued registration letter-cum-receipt bearing No.0055163 dated 30.9.2010 by the opposite party No.1, according to this an amount of Rs.2 lacs was payable to the complainant. Due to some unavoidable circumstances, the complainant was in need of money and in the last week of March 2013, he approached the opposite party No.3 to withdraw the amount of Rs.1 lac each deposited in his name and in the name of his daughter and requested the officials to pay the due interest thereon for the period of two and half years but they refused to return the fixed deposit amount and told him that the double of deposited amount would be paid after the completion of 84 months from the date of its deposit and till then no amount would be paid to him. The complainant has got issued a legal notice on 17.7.2013 to the opposite parties but no heed was paid to his requests by them. Hence the complainant has filed the present complaint to seek the directions to the opposite parties to pay the amount of Rs.2 lacs alongwith upto date interest @ 12% per annum for the period of two and half years besides cost and compensation.

2. Registered notice has been sent to the opposite party No.1 vide postal receipt No.A RP276738803IN on dated 4.9.2013 but RC has been received back with endorsement 'Left'. Notice through registered post again sent on fresh address given by the complainant on 11.10.2013 to the opposite party No.1 and to the opposite party No.2 vide postal receipt No.A RP276738825IN on dated 4.9.2013 and notice by hand/dasti has been sent to the opposite party No.3 that has been received by Narinder Singh on dated 20.9.2013 but despite receiving the summons none appeared on behalf of any of the opposite parties before this Forum, hence ex-parte proceedings are taken against all the opposite parties.

3. The complainant has led ex-parte evidence to support his allegations. He has produced Ex.C1 his own affidavit dated 22.8.2013; Ex.C2 & Ex.C3 photocopies of FDRs; Ex.C4 photocopy of postal receipts; Ex.C5 photocopy of legal notice and Ex.C6 his own affidavit dated 21.11.2013.

4. The arguments advanced by the learned counsel of the complainant heard at length. Record alongwith written submissions submitted by the learned counsel of the complainant perused.

5. The allegations of the complainant is that he has deposited Rs.1 lac in the shape of FDR for the period of 84 months on 25.9.2010 vide registration letter-cum-receipt bearing No.0055126 dated 25.9.2010, according to this, the complainant would be paid Rs.2 lacs on 25.9.2017. Thereafter the complainant deposited Rs.1 lac with the opposite party No.1 in his name on 30.9.2010 for the period of 84 months till 30.9.2017 vide registration letter-cum-receipt bearing No.0055163 dated 30.9.2010, according to this, the complainant would be paid Rs.2 lacs on 30.9.2017. As the complainant was in need of money, he requested the opposite party No.3 in the last week of March 2013 to withdraw the amount of Rs.1 lac each deposited in his name and in the name of his daughter and requested the officials to pay 12% p.a. interest thereon for the period of two and half years but they refused to return the fixed deposit amount and told him that double of deposited amount would be paid after the completion of the period of 84 months.

6. A perusal of Ex.C2 and Ex.C3 show that Rs.1 lac has been deposited in the name of his minor daughter Parminder Kaur D/o Hoshiar Aulakh for the period of 84 months on 25.9.2010 till 25.9.2017. The opposite party No.1 issued a letter-cum-receipt bearing No.0055120 dated 25.9.2010 to the complainant, according to this the estimated releasable value at the end of the term will payable Rs.2 lacs. Ex.C3 is issued in the name of the complainant Hushiar Aulakh S/o Jugraj Singh himself. The amount of Rs.1 lac has been deposited in the name of the complainant on 30.9.2010 for the period of 84 months till 30.9.2017 and the opposite party No.1 issued letter-cum-receipt bearing No.0055163 dated 30.9.2010 to the complainant and the estimated releasable value at the end of the term will payable Rs.2 lacs. As the complainant was in the need of money, he requested the opposite party No.3 to pay the amount of his FDRs after two and half years but they have refused to return the same.

7. As per agreement the amount will be paid in double after the end of the term but as the complainant has requested after two and half years, he is not entitled to double of the amount and the same rate of interest which has to be calculated if the amount of Rs.1 lac would have been remained deposited till 2017. Thus it would meet the ends of justice if the complainant be allowed with interest @ 12% on the amount of Rs.1 lac for two and half years.

8. Therefore in view of what has been discussed above this complaint is accepted with Rs.2000/- as cost against the opposite parties. The opposite parties are directed to pay Rs.2 lacs to the complainant against both the aforementioned FDRs, with interest @ 12% per annum from the date of their deposits till 22.11.2013.

9. The compliance of this order be done by the opposite parties jointly and severally within 45 days from the date of receipt of the copy of this order.

10. In case of non-compliance within the stipulated period, the aforesaid amount of Rs.2 lacs plus interest @ 12% per annum, as detailed above, will carry further interest @ 6% per annum till realization.

11. A copy of this order be sent to the parties concerned free of cost and file be consigned to the record room.

Pronounced in open Forum

22-11-2013

(Vikramjit Kaur Soni)

President

(Amarjeet Paul)

Member

(Sukhwinder Kaur)

Member