Haryana

Ambala

CC/302/2022

TUSHAR ANAND. - Complainant(s)

Versus

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

GAURAV YADAV,PAWAN KUMAR GOEL,AAYUSH SHARMA

21 Jun 2023

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, AMBALA.

Complaint case no.	:	302 of 2022
Date of Institution	:	18.07.2022
Date of decision	:	21.06.2023

 

Tushar Anand son of Shri Ashok Kumar Anand, age 34 years, r/o 6209, Opposite Sadar Bazar Post Office, adjoining old J & K Bank Building, Sadar Bazar, Ambala Cantt.

…. Complainant

                                                Versus

1. Sahara India Cooperative Society Limited through its Managing Director, 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.

.…. 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 complainant.

                   OPs No.1 & 2 already ex parte.                  

Order:        Smt. Neena Sandhu, President.

1.                Complainant has filed this complaint under Section 35 of the Consumer Protection Act, 2019 (hereinafter referred to as ‘the Act’) against the Opposite Parties (hereinafter referred to as ‘OPs’) praying for issuance of following directions to them:-

1. To pay the maturity amount of Rs.2,77,109/- alongwith interest @11% p.a from the date of maturity i.e. 29.02.2020, till its realisation.
2. To pay Rs.50,000/-, as compensation/damages on account of physical and mental harassment besides Rs.50,000/- for causing financial losses as well as for rendering deficiency in service.
3. To pay Rs.30,000/-, as litigation expenses.

 

or

Grant any other relief, which this Hon’ble Commission may deems fit.

 

2.                Brief facts of the case are that the OP No.1 through OP No.2, allured and induced the complainant, to invest money in various Savings schemes i.e. FDR, RD launched by the OP No.1. OPs offered high rate of interest (specially on FDR @ 11% p.a.) with safety and security of money. Complainant invested Rs.2,36,643/-, with the Ops,  under Fix Deposit Scheme @ 11% p.a., for the period of 18 months i.e. from 31.08.2018 to 29.02.2020. OPs issued FDR Certificate/Receipt bearing No.787002766347 under account No.23987201449 for maturity amount of Rs.2,77,109/- maturing on 29.02.2020. After the maturity of the FDR, complainant requested the OPs to pay the maturity amount but they refused to pay the maturity amount and insisted the complainant to renew/reinvest the maturity amount with the OPs and get interest @ 11% per annum, for the period of 18 months but he did not agree.  Despite repeated requests, the OPs did not pay him the maturity amount. Hence the present complaint.

3.                 Upon notice, none appeared on behalf of the OPs No.1 and 2, before this Commission, therefore, they were proceeded against ex-parte vide orders dated 19.10.2022 and 21.03.2023.

2.           Learned counsel for the complainant tendered affidavit of the complainant as Annexure CW1/A alongwith documents as Annexure C-1 to C-6 and closed the evidence on behalf of the complainant.
3.           We have heard the learned counsel for the complainant and have also carefully gone through the case file.
4.           Learned counsel for the complainant submitted that by not making payment of the maturity amount, referred to above, after the maturity date, the OPs have committed deficiency in providing service, for which they need to be penalized. 
5.           It may be stated here that the complainant has prayed for issuance of directions to the OPs for payment of the maturity amount of Rs.2,77,109/-, alongwith interest. It is evident from the certificate dated 31.08.2018, Annexure C-1, that complainant is entitled to get the maturity amount of Rs.2,77,109/- on maturity i.e 29.02.2020 against the deposited amount of Rs.2,36,643/-. As stated above, notice of this complaint was sent to OPs No.1 and 2 seeking their version, yet, nobody appeared on behalf of OPs No.1 and 2, despite service, as a result whereof, they were proceeded ex-parte vide orders dated 19.10.2022 and 21.03.2023. This act of OPs No.1 and 2 draws an adverse inference against them. The non-appearance of the OPs No.1 and 2 shows that they have nothing to say in their defence against the allegations made by the complainant. Therefore, the assertions of the complainant went unrebutted & uncontrverted. In this view of the matter, the complainant is held entitled to the maturity amount of Rs.2,77,109/-, alongwith interest and also compensation for mental agony and harassment and litigation expenses, which will meet the ends of justice.
6.           In view of the aforesaid discussion, we hereby allow the present complaint against OPs No.1 and 2 and direct them, in the following manner:-

1. To pay the maturity amount of Rs.2,77,109/-, to the complainant alongwith interest @6% p.a. from 29.02.2020 i.e. the date of maturity onwards till realization. 
2. To pay Rs.5,000/-, as compensation for the mental agony and physical harassment, caused to the complainant.
3. To pay Rs.3,000/- as litigation expenses.

 

7.           However, this Commission is aware of the fact that vide order dated 29.03.2023, having been passed by the Hon’ble Supreme Court of India in Writ Petition No.191 of 2022 titled as Pinak Pani Mohanty Vs. Union of India and Ors. wherein, the Hon’ble Supreme Court has directed that out of Rs.500 crores which is to be transferred from SEBI to Central Registrar of Cooperative Societies, thereafter the same can be disbursed to the legitimate depositors of Sahara Group of Cooperative Societies, within a period of nine months from 29.03.2023. In this view of the matter, the complainant is therefore directed to approach the Central Registrar of Cooperative Societies/Authority concerned, as per order dated 29.03.2023 to recover the awarded amount because the said FDRs have been acknowledged by Sahara India Pariwar by affixing their stamps.  A copy of the order dated 29.03.2023 be also sent to the parties, alongwith certified copy of this order, by retrieving the same from the earlier orders passed against the OPs in similar cases. Certified copy of the order be supplied to the parties concerned, forthwith, free of cost as permissible under Rules. File be indexed and consigned to the Record Room.  

Announced on :21.06.2023

 

 

 

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

Member                          Member                          President