Punjab

Ludhiana

CC/22/114

Vishwambher Tiwari - Complainant(s)

Versus

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

P.S.Chawla Adv.

12 Oct 2022

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, LUDHIANA.

                                                Complaint No: 114 dated 22.03.2022.                                                        Date of decision: 12.10.2022.

 

Vishwambher Tiwari aged about 52 years S/o. Sh. V.B. Tiwari, r/o.A-257, Ward No.1, NFL Colony, Bathinda-151003 (Mobile No.98881-80870) PSChawla.adv.gmail.com.

                                                                                      ..…Complainant 

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1. Sahara Credit Cooperative Society Limited, Branch Office situated at B-1/367, Guru Nanakpura, Kailash Chownk, Civil Line, Ludhiana, through its Branch Manager/Authorized person.  
2. Sahara Credit Cooperative Society Limited, Regd. office at Sahara India Bhawan, 1, Kapoorthala Complex, Aliganj, Lucknow, Uttar Pradesh-226024 through its Managing Director/Authorized person.                                                                       …..Opposite parties 

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

QUORUM:

SH. K.K. KAREER, PRESIDENT

SH. JASWINDER SINGH, MEMBER

 

COUNSEL FOR THE PARTIES:

For complainant             :         Sh. P.S. Chawla, Advocate.

For OPs                          :         Exparte.

 

 

ORDER

PER K.K. KAREER, PRESIDENT

 

1.                In brief, the case of the complainant is that on the inducement of agent of OP1, the complainant obtained Sahara Special Fix plan bearing account No.27037201745 dated 01.12.2018 for a sum of Rs.3,28,434/- vide receipt No.787003711018. As per the said plan, the amount was invested for a minimum period of 18 months. After the expiry of the period, the complainant was entitled to receive a sum of Rs.3,84,596/- as on 01.06.2020 as per the terms and conditions of the plan whereby interest @11.4% was payable. After the maturity date of the deposit, the complainant approached the OPs for the receipt of the maturity amount but the OPs did not pay the same and kept lingering on the matter on one pretext or the other. This amounts to deficiency of service on the part of the OPs. In the end, it has been requested that the OPs be directed to pay a sum of Rs. 3,84,596/- along with interest @11.45 per annum w.e.f. 01.06.2020 and further the OPs be made to pay a compensation of Rs.50,000/- and litigation expenses of Rs.11,000/-.

2.                Upon notice, the OPs initially appeared through Sh. Sandeep Shukla, Advocate but no written statement was filed. Thereafter, the OPs absented themselves from the proceedings and were proceeded against exparte vide order dated 30.08.2022.

3.                In exparte evidence, the complainant submitted affidavit Ex. CA along with document Ex. C1 and closed the evidence.

4.                We have gone through the record and have heard the arguments advanced by the counsel for the complainant.

5.                In the affidavit Ex. CA, the complainant has reiterated the entire case as set forth in the complaint. The complainant has further placed on record a copy of the certificate Ex. C1 which shows that the complainant invested a sum of Rs.3,28,434/- with the OPs on 01.12.2018 and the complainant was entitled to the maturity amount of Rs.3,84,596/- as on 01.06.2020. It is also in evidence that after the maturity of the deposited amount, when the complainant approached the OPs for the release of the maturity amount of Rs.3,84,596/-, the same was not paid to him. This amounts to deficiency of service on the part of the OPs and in our considered view, it would be just and proper if the OPs are directed to release the maturity amount of Rs.3,84,596/- along with interest @8% per annum from 01.06.2020 till actual payment with composite compensation and cost of Rs.7,000/-.

6.                As a result of above discussion, the complaint is allowed exparte with an order that the OPs shall pay the amount of Rs.3,84,596/- to the complainant along with interest @8% per annum from 01.06.2020 till date of actual payment. The OPs shall further pay a composite costs and compensation of Rs.7,000/- (Rupees Seven 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.

 

                             (Jaswinder Singh)                            (K.K. Kareer)

                    Member                                           President

 

Announced in Open Commission.

Dated:12.10.2022.

Gobind Ram.

Vishwambher Tiwari Vs Sahara Credit                                     CC/22/114

Present:       Sh. P.S. Chawla, Advocate for the complainant.

                   OPs exparte.

 

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

                    Arguments heard. Vide separate detailed order of today, the complaint is allowed exparte with an order that the OPs shall pay the amount of Rs.3,84,596/- to the complainant along with interest @8% per annum from 01.06.2020 till date of actual payment. The OPs shall further pay a composite costs and compensation of Rs.7,000/- (Rupees Seven 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.

 

                             (Jaswinder Singh)                            (K.K. Kareer)

                    Member                                           President

 

Announced in Open Commission.

Dated:12.10.2022.

Gobind Ram.