Punjab

Ludhiana

CC/22/221

Kahan Malhotra - Complainant(s)

Versus

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

Sunil Tiwari

17 Feb 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, LUDHIANA.

                                                Complaint No: 221 dated 27.05.2022.                                                       Date of decision: 17.02.2023. 

 

Kahan Malhotra son of Naresh Malhotra, R/o.9-A, Rose Enclave, College Road, Ludhiana.                                                                                                                                                                                      ..…Complainant

                                                Versus

1. Sahara Credit Cooperative Limited, Sahara India, Sahara India Bhawan, Kapurthala Complex, Aliganj, Lucknow, UP-226024 through its Managing Director.
2. Sahara Credit Cooperative Limited, Sahara India, SCF, 23-24, Sahil Plaza, 4^th Floor, Model Town Extension, Dugri, Ludhiana, through its officer in-charge of Ludhiana Office.                                                                                                                                      …..Opposite parties 

Complaint Under Section 35 of the Consumer Protection Act.

QUORUM:

SH. SANJEEV BATRA, PRESIDENT

SH. JASWINDER SINGH, MEMBER

MS. MONIKA BHAGAT, MEMBER

 

COUNSEL FOR THE PARTIES:

For complainant            :         Sh. Sunil Tiwari, Advocate.

For OPs                         :         Exparte.

 

ORDER

PER MONIKA BHAGAT, MEMBER

 

1.                Briefly stated, the facts of the case are that the opposite parties are engaged in providing financial services and saving schemes to the citizens of India and the complainant purchased fixed saving certificate from the opposite parties, detail of which is reproduced as under:-

Certificate No.	Account No.	Amount	Maturity amount	Maturity date
787003220811	24297201227	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220812	24297201228	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220813	24297201229	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220814	24297201230	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220815	24297201231	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220816	24297201232	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220817	24297201233	Rs.1,00,000/-	Rs.1,17,100/-	28.03.2020.
787003220818	24297201234	Rs.29,450/-	Rs.34,486/-	28.03.2020.

On 16.03.2022, the complainant visited office of opposite party at Ludhiana and vide application requested for withdrawal of the said certificates. On 17.03.2022 the complainant also posted copy of said application requesting to withdrawal of above certificates in his account ICICI Bank having account No.088001500818, IFSC Code ICICI0002377 and also annexed his cancelled cheque, Aadhar card, PAN card and passport size photographs and copy of saving certificate but till date the savings certificates have not been withdrawn and the money has not been sent to his account. The complainant also sent legal notice dated 20.04.2022 upon the opposite parties but they have failed to give any response. Hence this complaint, whereby the complainant has prayed for directing opposite parties to pay Rs.8,54,186/- along with interest @24% per annum along with compensation of Rs.5,00,000/- ad litigation expenses of Rs.55,000/-.

 2.               Notice to the opposite parties was sent through registered post on 11.06.2022 but none appeared on behalf of the opposite parties despite service and as such, the opposite parties were proceeded against exparte vide order dated 29.08.2022.

3.                In evidence, the complainant tendered his affidavit as Ex. CA and reiterated his averments of the complaint. The complainant also placed on record copy of Aadhar card as Ex. C1 and also tendered certificate No.787003220817 as Ex. C2, No.787003220818 as Ex. C3, No.787003220811 as Ex. C4, No.787003220812 as Ex. C5, No.787003220813 as Ex. C6, No.787003220814 as Ex. C7, No.787003220815 as Ex. C8, No.787003220816 as Ex. C9, copies of applications from Ex. C10 to Ex. C17 written by the complainant to the opposite parties for withdrawing the respective certificates, Ex. C18 and Ex. C19  are the copies of postal receipts, Ex. 20 is the legal notice dated 20.04.2022, Ex. C21 and Ex. C22 are the postal receipts and closed the evidence.

4.                We have heard the counsel for the complainant and also gone through the complaint, affidavit and documents annexed by the complainant.

5.                In his affidavit Ex. CA, the complainant has reiterated the entire case as set forth in the complaint. The complainant has further proved on record the copy of certificates Ex. C2 to Ex. C9 issued by the opposite parties. As per certificate Ex. C2 No.787003220817, Ex. C4 No.787003220811, Ex. C5 No.787003220812, Ex. C6 No.787003220813, Ex. C7 No.787003220814, Ex. C8 No.787003220815 and Ex. C9 No.787003220816 the complainant deposited Rs.1,00,000/- each receptively on 28.09.2018 having maturity amount of Rs.1,17,100/- with date of maturity 28.03.2000 and certificate Ex. C3 No.787003220818  vide which the complainant deposited Rs.29,450/- on 28.09.2018 having maturity amount of Rs.34,486/- to be matured on 28.03.2020 i.e. total Rs.7,29,450/- was invested by the complainant with the opposite parties. The said amounts were to be matured on 28.03.2020 as per the said certificates.   In this manner, the total maturity amount comes to Rs.8,54,186/- which the opposite parties have failed to pay the same to the complainant. In these circumstances, it would be just and proper if the opposite parties are directed to pay the maturity amount of Rs.8,54,186/- along with interest @8% from 28.03.2020 till date of actual payment along with composite costs of Rs.10,000/-.

6.                As a result of above discussion, the complaint is allowed exparte with an order that the opposite parties shall be jointly and severally liable to pay the maturity amount of Rs.8,54,186/- along with interest @8% from 28.03.2020 till date of actual payment. The opposite parties shall further pay a composite compensation of Rs.10,000/- (Rupees Ten Thousand only) to the complainant. Compliance of order be made within 30 days from the date of receipt of copy of the order. Copies of order be supplied to parties free of costs as per rules. File be indexed and consigned to record room.

 

(Monika Bhagat)           (Jaswinder Singh)                      (Sanjeev Batra)                          Member                            Member                                      President         

 

Announced in Open Commission.

Dated:17.02.2023.

Gobind Ram.

 

 

Kahan Malhotra Vs Sahara Credit                                 CC/22/221

Present:       Sh. Sunil Tiwari, Advocate for complainant.

                   OPs exparte.

 

                   Learned counsel for the complainant closed evidence after tendering affidavit Ex. CA along with documents Ex. C1  to Ex. C22.

                   Arguments heard. Vide separate detailed order of today, the complaint is allowed exparte with an order that the opposite parties shall be jointly and severally liable to pay the maturity amount of Rs.8,54,186/- along with interest @8% from 28.03.2020 till date of actual payment. The opposite parties shall further pay a composite compensation of Rs.10,000/- (Rupees Ten Thousand only) to the complainant. Compliance of order be made within 30 days from the date of receipt of copy of the order. Copies of order be supplied to parties free of costs as per rules. File be indexed and consigned to record room.

 

(Monika Bhagat)          (Jaswinder Singh)                      (Sanjeev Batra)                          Member                            Member                                      President         

 

Announced in Open Commission.

Dated:17.02.2023.

Gobind Ram.