Chandigarh

DF-II

CC/846/2021

Bimlesh Kumar - Complainant(s)

Versus

Sahara Credit Co-Operative Society Ltd. - Opp.Party(s)

Adv. Deepak Aggarwal

03 Jul 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION-II

U.T. CHANDIGARH

 

Consumer Complaint No.	:	846/2021
Date of Institution	:	24.11.2021
Date of Decision	:	03.07.2023

 

                                               

                                                         

Bimlesh Kumar s/o Raj Kumar, H.No.10, Near Ahluwalia, Fatehpur, Sector 20, Panchkula.

          ...  Complainant.

Versus

1.      Sahara Credit Co-operative Society Ltd., Regd. Office: Sahara India Bhawan, 1, Kapoorthala Complex,  Aliganj Lucknow-226024 through its Managing Director.

2.      The Branch Manager, Sahara Credit Co-operative Society Ltd., Sahara Parivar, SCO No.541, 2^nd Floor, Gali No.5, Keshoram Complex, Burail, Sector 45, Chandigarh.

Second Address:-Sahara India, SCO No.1110-1111, Sector 22-B, Chandigarh

Third Address: Sahara India Parivar, SCO 84/A, Shahi Mazra, Balongi Road, Mohali, Punjab.

 

…. Opposite Parties.

BEFORE:-

 

SMT.SURJEET KAUR, PRESIDING MEMBER

SHRI B.M.SHARMA, MEMBER

 

Argued by:-

 

                Ms.Bijuli Sinha, Adv. Proxy for Sh.Deepak Aggarwal, Adv. for complainant

                        Sh.Ishneet Bhatia, Advocate for OPs.

 

PER SURJEET KAUR, PRESIDING MEMBER

1.           By this common order, we propose to dispose of 07 connected consumer complaints in which common questions of law and fact are involved. The particulars of the case and the details of the amount deposited by the complainant (s) in the scheme of the OPs are as under:-

1	2	3	4	5	6
Sr. No.	C.C. No.	Complainant’s Name		Opposite Party(s)  Name	Deposited Amount  & Joining Points
	846/2021	Bimlesh Kumar	Vs.	Sahara Credit Co-operative Society Ltd. & Anr.	60000/- (Recurring Deposit)
	847/2021	Bimlesh Kumar	Vs.	Sahara Credit Co-operative Society Ltd. & Anr.	118060/-
	848/2021	Meena Devi	Vs.	Sahara Credit Co-operative Society Ltd. & Anr.	210000/- (Recurring Deposit)
	966/2021	Navdeep Kaur	Vs.	Sahara Credit Co-operative Society Ltd. & Anr.	15000/- 15000/-
	661/2022	Tarun Kumar	Vs.	Saharayn Universal Multipurpose Society Ltd.	7000/-  & 186 Joining Points 8950/- & 238 Joining Points
	662/2022	Divya		Saharayn Universal Multipurpose Society Ltd.	8950/- & 240 Joining Points 7000/- & 188 Joining Points
	72/2023	Ajay		Sahara Credit Co-operative Society Ltd. & Anr.	228000/- (Recurring Deposit)

2.           The facts are gathered from C.C.No.846/2021–Bimlesh Kumar Versus  Sahara Credit Co-operative Society Ltd. and Anr.
3.           Brief facts of the case, as alleged by the complainant, are that the OPs-Company floated various schemes and invited public at large to invest amount therein whereby lucrative incentives and interest was offered.  Being allured by the scheme known as Sahara C Anokha of the OPs,  the complainant deposited a sum of Rs.60000/- in recurring deposit scheme having maturity dated 29.08.2022. The complainant deposited the money only uptill 19.06.2020 under the recurring deposit in A/c No.23977202664 and did not deposit the further money because after the deposit of the instalment in June, 2020, the complainant has come to know that the company has no intention to pay the maturity amount.  In second quarter of 2020, the complainant requested the OPs to release the deposited amount(s) and the complainant was told that the amount was to be directly transferred into the Bank account initially given to the OPs but the same was never done.  It has further been averred that the complainant visited the office of the OPs number of times for refund of the deposited amount along with interest and even served a legal notice (Annexure C-2) in this regard upon the OPs but to no effect. Alleging that the aforesaid acts amount to deficiency in service and unfair trade practice on the part of the OPs, the complainant has filed the instant complaint. 
4.           The OPs contested the consumer complaint, filed their written reply and, inter alia, raised the preliminary objections that the complaint is wholly misconceived and vexatious; the complaint is a premature; there is no relationship of consumer and service provider inter se the complainant and the OPs and that this Commission has no jurisdiction to entertain the complaint and the same is liable to be referred to the arbitrator as per Clause of the terms and conditions of the scheme. It has further been pleaded that the relationship between the complainant and the OPs is of Member and Society and therefore, for any dispute between the society and the Member, consumer complaint is not maintainable. It has been pleaded that the complainant after understanding the bylaws and objects of the society had become a member and after becoming a member of the society the complainant had shared the amount under the scheme of the OPs. It has further been pleaded that the complainant is not entitled to get the deposited amount with interest etc. It has further been pleaded that the rules and regulation of the Society is binding upon the complainant and the member can avail the benefits of the same scheme as per its terms and conditions. Pleading that there is no deficiency in service or unfair trade practice on their part, OPs prayed for dismissal of the consumer complaint.
5.           Parties led evidence by way of affidavits and documents.
6.           We have heard the learned counsel for the parties and gone through the record.
7.           The complainant’s claim before this Commission is with regard to non-payment of the amounts deposited by way of FDRs/recurring deposit in the Sahara Group of Cooperative Societies.
8.           It is pertinent mention here that the Hon’ble Supreme Court of India vide its judgment dated 29.03.2023 passed in I.A. bearing No.56308 of 2023 in Writ Petition(Civil) No.191 of 2022 titled as Pinak Pani Mohanty Versus Union of India and Others with W.P.(C)No.6/2023(X), has held, the relevant part of which is reproduced as under:-

“3.     Having heard Shri Tushar Mehta, learned Solicitor General appearing on behalf of the Union of India and taking into consideration the facts narrated hereinabove and when it is reported that Rs. 2253 Crores had been taken out of the Sahara Credit Cooperative Society Ltd., i.e., one of the four Sahara Group Multi-State Cooperative Societies and deposited with SEBI in the “Sahara-SEBI Refund Account” and the amount lying in the “Sahara-SEBI Refund Account” is lying unutilized and the genuine depositors of the Sahara Group of Cooperative Societies, which otherwise, shall be entitled to get back their money, the prayer sought in the present application seems to be reasonable and which shall be in the larger public interest / interest of the genuine depositors of the Sahara Group of Cooperative Societies. Therefore, the present application stands disposed of with the following directions:-

1. Out of the total amount of Rs. 24,979.67 Crores lying in the “Sahara-SEBI Refund Account”, Rs. 5000 Crores be transferred to the Central Registrar of Cooperative Societies, who, in turn, shall disburse the same against the legitimate dues of the depositors of the Sahara Group of Cooperative Societies, which shall be paid to the genuine depositors in the most transparent manner and on proper identification and on submitting proof of their deposits and proof of their claims and to be deposited in their respective bank accounts directly.
2. The disbursement shall be supervised and monitored by Justice R. Subhash Reddy, Former Judge of this Court with the able assistance of Shri Gaurav Agarwal, learned Advocate, who is appointed as Amicus Curiae to assist Justice R. Subhash Reddy as well as the Central Registrar of Cooperative Societies in disbursing the amount to the genuine depositors of the Sahara Group of Cooperative Societies. The manner and modalities for making the payment is to be worked out by the Central Registrar of Cooperative Societies in consultation with Justice R. Subhash Reddy, Former Judge of this Court and Shri Gaurav Agarwal, learned Advocate.
3. xxxxx xxx xx. xxxx xxx
4. We direct that the amount be paid to the respective genuine depositors of the Sahara Group of Cooperative Societies out of the aforesaid amount of Rs. 5,000 Crores at the earliest, but not later than nine months from today. The balance amount thereafter be again transferred to the “Sahara-SEBI Refund Account”.

9.           From the aforesaid order passed by the Hon’ble Apex Court titled as Pinak Pani Mohant  Vs.  Union of  India &  Ors (supra), it is clear that the question of genuineness of the claims of the depositors/investors with the Sahara Group of Cooperative Societies  is to be exclusively determined by the Special Authority and the manner and modalities for making the payment is to be worked out by it in consultation with  Hon’ble Justice R. Subhash Reddy, Former Judge of the Apex Court and Sh. Gaurav Agarwal, Amicus Curiae and for that purpose an amount of Rs.5000/- Crores has been ordered to be transferred  to the Special Authority out of “Sahra-SEBI Refund Account”  for further disbursal of the same against legitimate dues  of the depositors of the Sahara Group of Cooperative  Societies.  Therefore, we have no hesitation to hold that no authority including this Commission has the power to decide the genuineness of claim or pass directions for disbursal of the claim except the Special Authority authorized by the  Hon’ble Apex Court vide the aforesaid order.
10.           In view of foregoing discussion and in compliance of the directions of the Hon’ble Supreme Court of India, as aforesaid, the proceedings of the instant complaint as well other connected complaint cases are closed with liberty to the complainant(s) to approach the Central Registrar of Cooperative Societies (Special Authority) for determination of his/her claim and disbursal of the same. Accordingly, the present complaint as well as other connected complaints, detailed in Para No.1 above, stand disposed off.  
11.           Pending miscellaneous application, if any, also stands disposed off.
12.           Certified copy of this order be communicated to the parties, free of charge. After compliance file be consigned to record room.

                                      Sd/-                                          sd/-           

Announced	(B.M.SHARMA)		(SURJEET KAUR)
03.07.2023	MEMBER		PRESIDING MEMBER