FINAL ORDER/JUDGEMENT
Smt. SAHANA AHMED BASU, Member,
Brief facts of the case are that, complainant invested Rs.50,000/- with OPs on 23/08/2014 under MIS against Certificate No. 16135101687 for the period of 60 months. Date of maturity of those certificates are 23/08/2019. Despite maturity the OPs did not refund the maturity amount of that certificate. Finding no other alternative, complainant issued letter dated 28.03.2020 to the OP-1 demanding maturity amount but the OPs did not response such demand letter. There is deficiency in service and unfair trade practice on the part of the OPs. Hence, the consumer complaint.
OPs despite service of notice of the complaint have failed to file written version within the limitation provided u/s 38(2) of the Consumer Protection Act, 2019. No request for condonation of delay or extension of time for filing written version is made. Therefore, right of the OPs to file W.V is closed.
Complainant has filed his evidence by way of affidavit supporting the allegations made in the complaint.
Ld. Advocate for the complainant has taken us through the consumer complaint as also the evidence adduced of the complainant. On perusal of photocopy of certificate dated 23/08/2014, issued by the OP-1 to the complainant it is clear that vide that certificate complainant invested Rs.50,000/- to OPs under Sahara. K.Money Schemeand monthly interest of that scheme was Rs.500/-. It is also clear from that certificate that OPs had agreed to refund the investment amount within 60 months from the date of issue i.e. 23/08/2019. Complainant has categorically alleged that despite maturity, OPs have failed to refund the investment amount coupled with interest. As the OPs have opted not to file written version despite service of notice of complaint, the above allegations of the complainant is deemed to have been admitted as correct.
OPs are fully aware that they are liable to pay the matured amount of Sahara. K. Money Scheme including interest to the complainant after 60 monthsi.e. 23/08/2019. Complainant invested his hard earned money with the OPs. The OPs deliberately make their illegal gains and to deprive the complainant from his lawful right. Thus, the OPs have adopted unfair trade practice, and in fact, withhold the invested amount of Rs.50,000/- in spite of its maturity which no doubt adopted deceitful manner of trade. Complainant cannot wait indefinitely to get matured amount. Complainant has suffered mental agony, pain and harassment. To get the relief, complainant has to wage a long drawn and tedious legal battle.
In view of the foregoing discussion, we are of the view that complainant is entitled to refund the matured amount of Sahara. K. Money along with compensation and litigation cost.
Thus, the consumer complaint is allowed with following directions:-
OPs are directed to refund the maturity amount of Rs.50,000/- to the complainant within 60 days from today.
OPs are directed to pay Rs.10,000/- only as compensation for mental agony, pain and harassment to the complainant within the stipulated period.
OPs are directed to pay a sum of Rs.5,000/- as cost of litigation to the complainant within the stipulated period.
With these directions the present consumer complaint stands disposed of.
Copy of the Judgment be given to the parties as per rules.
