Haryana

Kaithal

319/21

Davinder Singh - Complainant(s)

Versus

Sahara Credit Cooperative Society Ltd - Opp.Party(s)

Sh.Deepak Seth

03 Jul 2023

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, KAITHAL.

                                                 Complaint Case No.319/2021.

                                                 Date of institution: 24.12.2021.

                                                 Date of decision:03.07.2023.

Davinder Singh son of Shri Karnail Singh aged about 61 years, #349, Ward No.15, Opp. 33 KV, Cheeka, Tehsil Guhla, District Kaithal.

 

                                                                        …Complainant.

                        Versus

Sahara Credit Cooperative Society Limited, Regd. Office: Sahara India Bhawan, 1, Kapoorthala Complex Aliganj, Lucknow-226024 (U.P.), through its Managing Director.

….OP.

Complaint under Section 35 of the Consumer Protection Act, 2019.

 

CORAM:     SMT. NEELAM KASHYAP, PRESIDENT.

                SMT. SUMAN RANA, MEMBER.

                SH. SUNIL MOHAN TRIKHA, MEMBER.

 

Present:     Sh. Deepak Seth, Advocate, for the complainant.   

                OP exparte.

               

ORDER

NEELAM KASHYAP, PRESIDENT

        Davinder Singh-Complainant has filed this complaint under Section 35 of Consumer Protection Act, 2019 (hereinafter referred to as ‘the Act’) against the OP.  

                    In nutshell, the facts of present case are that the OP is an investment company and is collecting funds from the general public for the purpose of investments.  The complainant had invested various amounts on different dates, detail of amount is mentioned in para No.2 of the complaint.  The case of complainant is that after the maturity date, the complainant duly approached the OP to release the maturity amount of the investment but the OP did not redress the grievances of complainant.  So, it is a clear cut case of deficiency in service on the part of OP and prayed for acceptance of complaint.   

2.             Upon notice, the OP did not appear and opted to proceed against exparte vide order dt. 21.03.2022 passed by this Commission.  

3.             The complainant tendered in evidence affidavit Ex.CW1/A alongwith documents Annexure-C1 to Annexure-C9 and thereafter, closed the evidence.     

4.             We have heard the learned counsel for complainant and perused the case file carefully and minutely.

5.             Ld. counsel for the complainant argued that the OP is an investment company and is collecting funds from the general public for the purpose of investments.  The complainant had invested various amounts on different dates as mentioned above.  It has been further argued that after the maturity date, the complainant duly approached the OP to release the maturity amount of the investment but the OP did not do so.  So, it is a clear cut case of deficiency in service on the part of OPs.

6.             The Hon’ble Supreme Court of India in case titled as Pinak Pani Mohanty Versus Union of India and Ors. in writ petition (c) no.191 of 2022 decided on 29.03.2023 has held as under:-

“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 claim 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 able assistance of Shri Gaurav Aggarwal, learned Advocate, who is appointed as Amicus Curiae to assist Justice R.Subhash Reddy as well as the Central Registrar of Cooperative Societies is 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 Aggarwal, learned Advocate.

7.               Keeping in view the aforesaid judgment, it would not be justified to pursue the present complaint further and now is not maintainable before this Commission.  Hence, the present complaint is hereby disposed of accordingly.  However, complainant is at liberty to apply the claim before the Central Registrar of Cooperative Societies, in accordance with above mentioned writ petition. There is no order as to costs.  A copy of this order be sent to the parties free of cost. File be consigned to the record room after due compliance.

Announced in open court:

Dt.:03.07.2023.

                                                                (Neelam Kashyap)

                                                                President.

 

(Sunil Mohan Trikha),           (Suman Rana),          

Member.                            Member.

 

Typed by: Sanjay Kumar, S.G.