Order by:

Smt.Aparana Kundi, Member.

1.       The complainant  has filed the instant complaint under section 35 of Consumer Protection Act, 2019 on the allegations that Opposite Party No.1 is Credit Cooperative Society and it used to get deposit  the amount from various consumers through different schemes on interest basis. Opposite Party No.2 is the Zonal head branch of the Opposite Party No.1, Opposite Party No.3 is the authorized centre of Opposite Party No.1 which is now working through Opposite Party No.2 from Ludhiana office. Opposite Party No.4 is incharge and responsible person working on behalf of Opposite Party No.1 at Ludhiana Office. Opposite Parties used to get deposit huge amount from the complainant in the shape of fixed deposit, on interest basis with receipts for the last many years. Complainant used to deposit the amount with the Opposite Parties and Opposite Parties issue fresh Fixed Deposit receipt to complainant. Further alleges that accordingly complainant deposited Rs.4,80,000/- with the Opposite Parties and Opposite Parties issued 15 receipts of different amounts in favour of the complainant with maturity dates mentioned in the receipts. The details of 15 receipts is as under:-

Further alleges that the membership number of the complainant with the Opposite Parties is 969858000019 and the same is mentioned on all the receipts mentioned above. In this way, the Opposite Parties was bound to repay Rs.2,55,000/- to the complainant alongwith joining points equal to Rs.2,25,600/- in total Rs.4,80,600/-. But the Opposite Parties have been lingering on the matter on one pretext or other and the assure that they will pay the above said maturity amount alongwith up-to-date interest @ 18% per annum. But now the Opposite Parties have flatly refused to pay any amount to the complainant. As such, there is deficiency in service on the part of Opposite Parties. Vide instant complaint, the complainant has sought the following reliefs.

a)       Opposite Parties may be directed to pay the maturity amount of Rs.4,80,600/- alongwith interest  @ 18 % per annum till its actual realization. 

b)      To pay the amount of Rs.50,000/- as damages alongwith costs of the present complaint.

c)       And any other relief to which this Commission may deem fit be granted in the interest of justice and equity.       

2.       Upon service of notice, none has come present on behalf of opposite parties. Hence, Opposite Parties were proceeded against exparte.

3.       In order to  prove  his  case, the complainant has tendered into evidence  his affidavit Ex.C1 alongwith copies of documents Ex.C2 to Ex.C17.

5.       We have heard the ld.counsel for the complainant and gone through the documents placed  on record.

6.       During the course of arguments, both the ld.counsel for the Complainant has mainly reiterated the facts as narrated in the complaint.  We have perused the contentions of ld. counsel for the complainant. The case of the complainant is that he deposited his hard earned money with Opposite Parties in the shape of different Fixed Deposit on interest basis. Accordingly complainant deposited Rs.4,80,000/- with the Opposite Parties and Opposite Parties issued 15 receipts of different amounts in favour of the complainant with maturity dates. On the maturity date when the complainant approached to Opposite Parties, they refused to pay any amount to the complainant. Hence, deficiency is writ large on the part of the opposite parties. To prove his case the complainant has produced on record his duly sworn affidavit Ex.C1 alongwith copies of documents Ex.C2 to Ex.C17. The evidence produced by the complainant has gone un-rebutted on record as  the Opposite Parties,  despite due service, did not opt to appear and contest the proceedings. In this way, the Opposite Parties  have impliedly admitted the correctness of the allegations made in the complaint. It also shows that Opposite Parties have no defence to offer or defend the complaint. The complainant has sought for direction to the Opposite Parties  to pay the amount of Rs.4,80,600/- (i.e. Rs.2,55,000/- plus Rs.2,25,600/- as joining points) alongwith interest and the Complainant also sought Rs.50,000/- on account of damages, compensation and costs of complaint.

6.         In view of the aforesaid facts and circumstances of the case, in our considered view, the Opposite Parties are  liable to pay the deposited amount with reasonable rate of interest, which we assess @ 8% per annum w.e.f. its respective deposit dates till its actual realization. As stated above, the Complainant has prayed for compensation for causing him mental tension and harassment, but  both compensation and interest can not be granted simultaneously for the same cause of action as the complainant has already been granted interest on the delayed period as mentioned above.   In this regard, it has been held by Hon’ble National Commission, New Delhi in case Oriental Insurance Company Limited Vs. B.Ramareddy, II(2006) CPJ 339 (NC) that where the interest on the amount is allowed, the awarding of compensation separately not justified.  So, in view of the supra ruling of Hon’ble National Commission, New Delhi, we disallow the prayer of the complainant for grant of compensation.  Opposite Parties are   granted one month time to comply with the order, failing which the Complainant shall be at liberty to get the order enforced through the indulgence of this Forum. Moreover, perusal of the receipts placed on record shows that complainant has deposited Rs.2,44,500/- only with the Opposite Parties.

12.     Resultantly, we partly allow the complaint of the complainant. The Opposite Parties are, jointly or severally, directed to make the payment of deposited amount i.e. Rs.2,44,500/- (Rupees Two Lac Forty Four Thousand Five Hundred only) alongwith interest @ 8% per annum from its respective dates of deposit till the date of refund of ordered amount. The compliance of this order be made by the Opposite Parties within 60 days from the date of receipt of copy of this order, failing which the Complainant shall be at liberty to get the order enforced through the indulgence of this Commission. Copies of the order be furnished to the parties free of costs. File is ordered to be consigned to the record room.

Announced in Open Commission.