This is an application u/s.35 of the C.P. Act, 2019. The case of the complainant, in a nutshell; is that he invested Rs. 2,10,000/- with the OP-4 and the OP-1 issued certificate bearing Nos. 925008853908-912 & 925008853944 in his favour for period of 18 months. Maturity date of those certificate were 06.01.2020, 18.02.2020 and 01.03.2020 respectively. Totally maturity amount is Rs. 4,38,396/-. Despite repeated request and reminder, the OPs have failed and neglected to refund the matured amount without assigning any cogent reason. Complainant has no source of income to maintain himself including his family members. Complainant alleged that the acts, activities and conduct of the OPs constitute a clear case of deficiency of service and unfair trade practice. Hence, the complainant has prayed for directing the OPs to refund matured amount of Rs. 4,38,396/- along with interest at the rate of of 18 percent p.a. till the date of making payment including compensation of Rs. 2,00,000/- and litigation cost.
The complaint is not resisted by the OPs and they did not come forward to file any WV within the specified period from the date of notice. As such, the consumer case has proceeded ex parte against the OPs vide proceedings dated 17.03.2021. Decision with Reasons Complainant Sri Mantu Prasad Lall has filed his evidence by way of affidavit supporting the allegations made in the complaint. Ld. Advocate for the complainant has taken us through the consumer complaint as also evidence adduced in support of the complaint. On perusal of the photocopy of certificate bearing Nos. 925008853908-912 & 925008853944, it appears that the complainant invested Rs. 2,10,000/- to the OP-4 on 06.07.2018, 18.08.2018, and the maturity date of the subject certificates are 06.01.2020, 18.02.2020 & 01.03.2020 respectively. Certificates have already been matured and despite legal notice dated 23.06.2020 the OPs did not refund the maturity amount. Thus, it stands to prove that the OPs have failed to refund the deposited amount of Rs. 2,10,000/- to the complainant against certificate Nos. 925008853908-912 & 92500885394. In absence of any explanation and failure to comply the legal notice dated 23.06.2020, we have no hesitation in concluding that the OPs have committed deficiency in service as also have indulged unfair trade practice. We do not find any reason why the OPs collected the amount from the complainant by issuing certificate and hold such amount as per their own discretion without paying any monthly interest. The complainant needs money for maintenance of himself and his family. Now, the question as to what should be the amount of compensation to be granted to the complainant? The Ld. Advocate for the complainant however, has pressed interest at the rate of 18 percent p.a. on the deposited amount of Rs. 2,10,000/- including compensation of Rs. 2,00,000/- and litigation cost. In our opinion, the claim of interest at the rate of 18 percent p.a. and compensation of Rs. 2,00,000/- is too much excessive. In our considered view, it would adequately meet ends of justice, if simple interest at the rate of 6 percent p.a. and Rs. 10,000/- as compensation are allowed on account of mental agony and physical harassment suffered by complainant. In view of the foregoing discussion, the consumer complaint is allowed ex parte in part against OPs with the following directions:- - OPs are directed to refund matured amount of Rs. 4,38,396/- only to the complainant along with simple interest at the rate of 6 percent p.a. from date of maturity of the certificates till actual payment.
- OPs are directed to pay Rs. 10,000/- only as compensation on account of mental and physical harassment suffered by the complainant.
- OPs are directed to pay Rs. 1,000/- only towards litigation cost to the complainant.
- OPs are directed to pay Rs. 5,000/- only to this Commission as punitive damage for unfair trade practice.
The above directions be complied by the OPs within a period of 60 days from today, failing which the complainant shall be at liberty to execute the order by filing application under Sections 71 & 72 of the C.P Act, 2019 against the OPs. Copy of the final order be supplied to the parties as per rules and also be uploaded on the website of this commission forthwith. |
