Haryana

Ambala

CC/127/2023

MUKESH BEDI - Complainant(s)

Versus

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

IN PERSON

15 May 2024

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, AMBALA.

Complaint case no.	:	127  of 2023
Date of Institution	:	10.04.2023
Date of decision	:	15.05.2024

 

Mukesh Bedi son of Shri Tara Chand Bedi, R/o House No.21-J, Palam Vihar, Block D, Ambala Cantt. (Mb. No.94162-46375).

……. Complainant.

                                                Versus

1. Sahara Credit Co-operative Society Limited, Sahara India Bhawan, Kapurthala Complex, Aliganj, Lucknow (UP) Pincode 226 024, through its authorized signatory.  
2. Shri Naushad Ahmed-Branch Manager, Sahara Credit Co-operative Society Limited, # 5744-3746, Sehgal Golden Transport Building, Ambala Cantt.
3. Ms. Monika Bhardwaj wife of Shri Manish Bhardwaj, Authorized Agent, R/o Aman Nagar, Near Mahesh Nagar, Ambala Cantt (Mb.90341-02002).   

 

                                                                                                                                                      .…. Opposite Parties.

 Before:         Smt. Neena Sandhu, President.

                       Smt. Ruby Sharma, Member,

             Shri Vinod Kumar Sharma, Member.           

 

Present:       Ms. Suman Goel, Advocate, counsel for the complainant.

                     OPs No.1 & 3 already ex parte.

                    Shri Manish Sharma, Advocate, counsel for the OP No.2.

 

Order:        Smt. Neena Sandhu, President.

1.                The complainant has filed the present complaint stating therein that on 22.12.2012, complainant opened RD account No.23984202386 for deposit of Rs.1,500/- per month for 5 years. At the time of deposit of the amount, the OP No.3 was present in the Branch office of OP No.2 and in her presence, the branch Manager assured the complainant that on 22.12.2017, the maturity amount of Rs.1,15,000/-, will be paid and also disclosed to the complainant that Rs.90,000/-, will be received by the OP No.1 on deposit and Rs.25,000/- will be given by the company as interest. Accordingly, the complainant kept depositing the said amount of Rs.1,500/- per month regularly in his aforesaid RD account till 22.12.2017. Thereafter, complainant approached the OP No.2 and requested to make the payment of maturity amount of Rs.1,15,000/- at which the OP No.2 asked the complainant to fill up the maturity form and OP No.3 being present in the branch office of the OP No.3 filed the maturity form of the complainant and assured him that he can collect the cheque of maturity amount within 15 days from the branch of OP No.2, if he does not receive at home through post. Since the complainant did not receive any cheque of maturity form the OPs at his home, consequently after waiting 15 days, he contacted the OP No.2 at which the OP again asked the complainant to wait for 3 months, as the OP No.1 will send the cheque after concluding closing i.e after March 2018, however the OPs No.2 and 3 assured the complainant that he will be paid interest upto date even on the maturity amount. Accordingly, the complainant in the second week of April, 2018 approached the OP No.2 to take his maturity amount but the OPs No.2 and 3 again postponed the payment by making excuses that the OPs have no funds at present however, the OPs induced the complainant to come again and again as and when the payment will come in the branch of the OP No.2, the complainant will be paid his maturity amount with upto date interest, thus as per the assurance of the OPs the complainant has been repeatedly visiting the OP No.2 but it on 19.11.2018 has flatly refused to make the payment of the maturity amount to him and also told not to visit the office of the OP No.2 and then the complainant contacted the OP No.3 who told him that the OPs are not responsible for not making maturity payment of the complainant. Complainant served upon the legal notice dated 26.11.2018, but to no avail. Under the constrained circumstances complainant had filed an application under Section 22C of the Legal Service Authorities Act, 1987, for the settlement of the dispute and after hearing the complainant, the Presiding Officer of the Ld. Permanent Lok Adalat, Ambala vide its order dated 16.01.2020, directed the complainant to  approach the appropriate Forum. Thereafter, the OPs assured the complainant that they will make the entire payment with upto date interest by way of cheque and requested the complainant not to proceed legally in the matter. Since, the OPs did not pay the maturity amount, therefore, complainant has filed this present complaint and prayed that the complaint may be allowed and OPs may be directed as under:- 

          To pay the maturity amount Rs.1,15,000/, alongwith upto date interest @18% per annum, w.e.f 22.12.2017, till the date of payment to the complainant. To pay Rs.2,00,000/- as compensation for the mental agony and physical harassment suffered by the complainant. To pay the cost of litigation. Grant any other relief which this Hon’ble Commission may deems fit.

2.           Upon notice, none appeared on behalf of the OPs No.1 & 3 before this Commission, therefore, they were proceeded against ex-parte vide orders dated 25.09.2023 and 25.10.2023.
3.           Today, the case was fixed for filing correct address of OP No.2. However, Shri Manish Sharma, Advocate, has appeared and filed power of attorney on behalf of OP No.2. Heard. Learned counsel for the OP No.2 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 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 “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 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:- 15.05.2024

 

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