Orissa

Jharsuguda

CC/3/2022

Manasi Panda W/O-Jyotiranjan Panda - Complainant(s)

Versus

SAHARA INDIA LIMITED - Opp.Party(s)

Self

20 Oct 2022

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL                 COMMISSION, JHARSUGUDA

                                                           ****************

                                         CONSUMER CASE NO.03/2022

Manasi Panda,

W/o- Jyotiranjan Panda, Occu- Housewife,

At: Brundaban Bihar( near sarbahal High school), Po- Sarbahal,

Ps/ Dist.- Jharsuguda, Odisha…….…………………….…….…………Complainant.

                                                 

Versus

 

1. Sahara India Limited,

Sahara India Bhawan,1, Kapoortala complex,

Alkigang, Lucknow-226024.

 

2. Branch manager, Sahara India Ltd.,Jharsuguda branch,

At- beheramal, Po- Industrial Estate,

Ps/ Dist- Jharsuguda, Odisha.…………….………...…....……..Opp. Parties.

 

Counsel for the Parties:-

For the Complainant                                Self.

For the Opp. Party                                 Sri S.P. Mohanty, Adv. & Associates.

 

Present:-     1. Smt. Jigeesha Mishra, President.

                     2. Smt. Anju Agrawal, Member.

 

Date of hearing- 29.08.2022                                        Date of order- 20.10.2022

 

Smt. Jigeesha Mishra, President : -  1.The case of the complainant is that the complainant has opened an account under “ F64 Gold a Double” on dated 30.03.2016 in the opposite party No-2 vide Account No-13616404676 and had deposited a sum of  Rs.60,000/- (Sixty thousands only). The account was affix deposit account for a maximum period of 64 months. The maturity value is Rs.1, 20,000/- (One lakh twenty thousand only) and the maturity date was 30.07.2021. After completion of 64 months, the complainant rushed to the office of O.P.No-2 and demanded for his maturity value. The O.p.No-2 neither paid the maturity amount nor gave any satisfactory reply to the complainant, being harassed filed the complaint.

2.The case of the O.P.s is that the O.P. is a multistate Co- operative society under the Multi-state Co. Operative societies Act, 2002, The O.P.s submitted in  his version that the complainant is a member of the Co-operative Society and as contributed his share he is the owner of the society and not a ‘consumer’ This  commission has no jurisdiction as there is  no deficiency in service of the O.P.s  and  special remedies are  available under section 84 of multi state Co- operative society Act 2022 Hence the O.P.s prayed for dismissal of the  complaint.                                              

3. perused the documents and it reveals that the complainant has deposited sixty thousand on Dt 30.06.2016 vide certificate No 465001156060 and maturity date was 30.07.2021.

 

Being on the pleading of the parties, the following issues are framed:-

ISSUED

1. Whether the complainant is a consumer of the O.P.?
2. Whether the complaint is not maintainable in view of special provisions under the multistate Co- operative Act, 2022?
3. Whether the O.P. is deficient in providing service?
4.  What relief the complainant is entitled to get?

Issue No:-1

           The Co- operative organization registered under the multi-state Co-operative societies Act, 2022 based on principle of co-operation. The organization is based on members contribution and the member are having special right, obligations, privileges and duties towards co-operative societies  for registration purpose of the co-operative societies and to stands up a society members are required . This is the one side of the organization. The other side of the organization is that the business activities run by the Co-operatives are the investment made by the members. The Co-operatives are profit making organization and through the investment earns its profit, do multi-ferous business and get the entity of the business organization

        Under the veil of membership the O.P. is doing banking business and earning profit, as an investor, the member are investing money and reinvesting the said amount the O.P. is giving the maturity value which includes interest and not dividend .as a financial institution, the O.P. is taking benefit from the customer, entered into agreements to pay maturity value of Rs.1,20,000/- against Rs.60,000/- is purely a  banking business and the complainant  is a ‘customer ‘ and ‘consumer’  of the O.P.

              The issue is answered accordingly against the O.P.

Issue No:-2

          In the Multi-state Co-operatives Act, 2002 special provision of dispute resolution is provided under section 84 of the Act relating of constitution, management or business of the society, No where is the Act any provision is there that consumer cannot go beyond the said Act. The consumer protection Act, 2019 is a special beneficial legislation for the welfare of the consumer

                                                                                            

 

And to the protect their interest. In addition to the multi-state Co-operatives

 Act, 2002 the consumer sort for alternative remedy and there is no bar to sort redressal before this commission, Accordingly as an alternative mode as no any arbitration has been preferred by the parties this commission has jurisdiction to entertain the  complaint.

     Issue is answered accordingly.

Issue No:-3

           The O.P. agreed to pay Rs.1,20,000/- on 30.07.2021 against certificate No 465001156060 but failed to pay. Hard earning of the complainant blocked, not paid in time and the O.P. remained silent, The O.P. harassed the complainant and compelled to sort redressal before the commission. This amounts to deficiency in service on the part of the O.P.

Issue No:-4

         The .complainant is entitled for the relief as claimed for

             Accordingly it is ordered.

                                          ORDER

           The complaint is allowed on contest. The O.P.s are directed to pay the maturity value of fixed deposit Rs.1,20,000/- ( One lakh twenty thousand only) along with 7% interest P.A. from the date  of maturity i.e. 30.07.2021 within one month of this order to the  complainant failing which the amount will carry 12%  interest P.A. till realisation.

 Further the O.P.s are directed to pay compensation of Rs.20,000/- towards harassment and mental agony with Rs.5000/- litigation expenses within one month .In case of non-payment the amount will also carry 12% interest P.A. till realisation.

 Order pronounced in open court on dated 20.10.2022.

Supply free copies to the parties.

I Agree            

1. Agrawal, Member                              J. Mishra, President.

                                                         

                                 Dictated and corrected by me

 

                                        J.Mishra, President.