FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that the OP 1 is a company, engaged in the business of chit fund, OP 2 is the authorized signatory of OP 1 and OP 3 is the Branch Manager of Sahara India having its office at 8, Dr. Rajendra Road, Kolkata – 700 020. Complainant invested Rs. 3,41,000/- to the OP 1 on 31.05.2016 & 02.06.2016 for a period of 18 months and the OP 1 issued certificates bearing Nos. 002925333 to 002925338 and 002925348 to 002925360. The maturity dates of those certificates are 30.11.2017 and 02.12.2017. Maturity value of those certificates is Rs. 3,97,265/-. Despite several request and demand notice dated 11.01.2018 the OPs deliberately avoid to pay the matured amount. Complainant further allege that there is gross deficiency in service as committed by the OPs.
In view of the gross deficiency in service and unfair trade practices of the OPs, the complainant has filed the present consumer complaint seeking payment of matured amount along with compensation and litigation cost.
OPs contested the complaint by filing WV in which material facts of investment have not been denied. The complainant did not produce original certificates and KYC to the OPs for disbursement of payment. The complainant is not a “Consumer”, within the meaning of Consumer Protection Act, 2019, rather an investor and the complaint is not maintainable. There is no deficiency in service on the part of the OPs. In this context, it is pertinent to mention here that despite several opportunities given to the OPs they failed to file their E/chief supported by an affidavit.
Complainant has filed his evidence supporting the allegations made in the complaint petition. Complainant has also filed various document and evidence also have filed written argument.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 3,41,000/- to the OP 1 for a period of 18 months against certificate bearing Nos. 002925333 to 002925338 and 002925348 to 002925360 dated 31.05.2016 and 02.06.2016. The maturity dates of those certificates are 30.11.2017 and 02.12.2017. Maturity value of those certificates is Rs. 3,97,056/-. Despite several request and demand notice dated 11.01.2018, OPs did not pay the maturity amount of Sahara .A. Select to the complainant. OPs are fully aware that they are liable to pay the matured amount of Sahara .A. Select to the complainant on its maturity. Complainant invested his heard earned money with the OP 1. The OPs are deliberate to make illegal gains and to deprive the complainant from his lawful right. In fact to OPs withhold the maturity amount which no doubt deceitful manner of trade.
OPs have not filed their E/chief supported by an affidavit to controvert the allegations in the complaint petition. On the contrary, they have admitted the facts of investment of the complainant to Sahara .A. Select in their WV. Plea of the OPs is that the complainant did not produce original certificates and KYC for disbursement of payment. Complainant in his affidavit did support the allegations in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice. The act of the OPs is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested his money to the OP 1, he would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of Sahara .A. Select along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed on contest against the OPs with the following directions :-
- OPs are directed to pay matured amount of Rs. 3,97,056/- (Rupees three lacs ninety seven thousand fifty six) only to the complainant.
- OPs are further directed to pay Rs. 50,000/- (Rupees fifty thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OPs are also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OPs within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
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