Haryana

Ambala

CC/50/2023

DARSHANA DEVI - Complainant(s)

Versus

SAHARA CREDIT COOPERATIVE SOCIETY LTD. - Opp.Party(s)

AMIT ,CLERK

07 Mar 2024

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, AMBALA.

Complaint case no.	:	50  of 2023
Date of Institution	:	07.02.2023
Date of decision	:	07.03.2024

 

1.       Darshna Devi wife of Shri Raghu Nath Dass, resident of House No.345, Sector-10, Ambala City.

2.       Darpan Aggarwal son of Shri Ajay Aggarwal, resident of House No.281,          Sector-9, Ambala City.

……. Complainants.

                                                Versus

1. Sahara Credit Cooperative Society Limited through its Authorized Signatory/Official having Regd. Office at Sahara India Bhawan, 1, Kapoorthala Complex, Aliganj, Lucknow-226024.  
2. Sahara Credit Cooperative Society Limited, through its Branch Manager, having its Branch Office at Sahara India Parivar, 5744-46, 1^st Floor, Nicholson Road, above Corporation Bank (now Union Bank), Ambala Cantt-133001.
3. Sahara India Parivar, Region Office, Gohana Road, Opposite Vishvakarma Mandir, Panipat through its Authorized Signatory/Official.  

 

                                                                             .…. Opposite Parties.

 Before:          Smt. Neena Sandhu, President.

                       Smt. Ruby Sharma, Member,

             Shri Vinod Kumar Sharma, Member.           

 

Present:       Shri Pawan Kumar Goel, Advocate, counsel for the complainants.

                     Shri Manish Sharma, Advocate, counsel for the OPs No.1 to 3.

 

Order:        Smt. Neena Sandhu, President.

1.                The complainants have filed the present complaint stating therein that OPs allured and induced the complainants to invest money in various schemes launched by it and offered high rate of interest with safety and security of money. The detail of the amount deposited under the Sahara E-Shine scheme is as under:-

 

Sahara E.Shine Scheme:-

(i)      Certificate No.351003376003, Receipt No.80132256297, Membership No.23981200262 of Rs.15,000/- dated 25.02.2012 for 96 months, issued in the name of complainant No.1 got matured on 25.02.2020, having maturity amount of  Rs.39,180/-.

(ii)     Certificate No.351003376004, Receipt No.80132256298, Membership No.23981200262 of Rs.10,000/- dated 25.02.2012 for 96 months, issued in the name of complainant No.1 got matured on 25.02.2020, having maturity amount of  Rs.26,120/-.

(iii)    Certificate No.351000672520, Receipt No.80110993049, Membership No.23981200015 of Rs.10,000/- dated 05.01.2012 for 96 months, issued in the name of complainant No.2 got matured on 05.01.2020, having maturity amount of  Rs.26,120/-.

          Complainants deposited the aforesaid amounts with the OPs through OP No.2, as its office was situated at Ambala and all the certificates were issued by OPs through OP No.2 to the complainants. On maturity of the certificates issued by Sahara E.Shine scheme, complainants requested to OPs to pay the maturity amounts, but they failed to pay the same. It has been prayed that the complaint may be allowed and OPs may be directed as under:- 

(i)                To pay the maturity amounts under the Sahara E.Shine of  Rs.91,420/- alongwith interest @11% per annum, from the date of                    maturity, till its realization.

(ii)               To pay Rs.50,000/- as compensation for the mental agony and   physical harassment suffered by the complainants and                                 Rs.50,000/-  for causing financial loss and for rendering deficiency in service  and also Rs.50,000/- as cost of litigation.

(iii)              Grant any other relief which this Hon’ble Commission may deems  fit.

2.           Upon notice, OPs No.1 to 3 appeared and filed written version wherein various objections were taken to the effect that the complainant is not a consumer of the OPs, as there is no relation of consumer and service provider between them; that for any dispute between society and its member, consumer complaint is not maintainable. As per Section 3 (N) of The Multi State Co-operative Society Act, 2002 definition of member is (Member means a person joining in the application for the registration of a multi State Co-operative Society and includes a person admitted to membership after such registration in accordance with the provisions of this Act, the rules and the byelaws).  As per Section 55 of The Multi State Co-operative Society Act, 2002, A Multi State Co-operative Society shall have a charge on the share or contribution or interest in the capital and on the deposits of a member or past or deceased member and on any dividend, bonus or profits payable to a member or past member or the estate of a deceased member to the society and may set-off any sum credited or payable to a member or past member or the estate of deceased member in or towards payment of any such debt. As per Section 83 of The Multi State Co-operative Society Act, 2002, Central Registrar has power to make an order after inquiry to repay or restore the money or property or any part thereof, with interest at such rate, or to pay contribution and costs or compensation to such extent, as the Central Registrar may consider just and equitable.  The complainant himself violated the rules of the society mentioned in Section 25 (5) of The Multi State Co-operative Society Act, 2002 that it shall be the duty of every member of a multi State Co- operative Society to promote and protect the interests and objects of such society. As per byelaws of the society, it is clearly mentioned that any dispute between the society and its member/ account holder should be decided by the arbitrator.  Rest of the averments of the complainant were denied by OPs No.1 to 3 and prayed for dismissal of the present complaint.
3.           Today, the case was fixed for leading evidence by the complainant subject to deposit of cost of Rs.200/-, in the legal aid account of this Commission. Heard. However, Shri Manish Sharma, Advocate, counsel for the OPs No.1 to 3 while relying upon the case Pinak Pani Mohanty Versus Union of India and Others with W.P.(C)No.6/2023(X),( 29.03.2023 passed in I.A. bearing No.56308 of 2023 in Writ Petition(Civil) No.191 of 2022)  decided by the Hon’ble Supreme Court has submitted that as per the order passed by the Hon’ble Supreme Court, in the said case,  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 Aggarwal, Amicus Curiae and for that purpose an amount of Rs.5000/- Crores has been ordered to be transferred  to the Special Authority out of “Sahara-SEBI Refund Account”  for further disbursal of the same against legitimate dues  of the depositors of the Sahara Group of Cooperative  Societies. As such, in compliance of the directions of the Hon’ble Supreme Court of India, the proceedings of the present complaint may be closed, at this stage only.
4.           We have gone through the contents of the judgment passed by the Hon’ble Apex Court titled as Pinak Pani Mohant  Vs.  Union of  India &  Ors (supra), which are reproduced hereunder:-

 “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:-

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.

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.

X xxxx xxx xx. Xxxx xxx

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”.

 

From the aforesaid judgment passed by the Hon’ble Apex Court titled as Pinak Pinak Pan 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 Aggarwal, Amicus Curiae and for that purpose an amount of Rs.5000/- Crores has been ordered to be transferred  to the Special Authority out of “Sahara-SEBI Refund Account”  for further disbursal of the same against legitimate dues  of the depositors of the Sahara Group of Cooperative  Societies.  Since, in the present case also, the complainant’s claim before this Commission is with regard to non-payment of the amounts deposited with 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.

5.           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 is closed, at this stage only with liberty to the complainant to approach the Central Registrar of Cooperative Societies (Special Authority) for determination of his claim and disbursal of the same. Accordingly, the application filed on behalf of OP No.4 and the present complaint stands disposed off.  Certified copies of the order be sent to the parties concerned as per rules.  File be annexed and consigned to the record room.        

 Announced:- 07.03.2024

 

(Vinod Kumar Sharma)	(Ruby Sharma)	(Neena Sandhu)
Member	Member	President