FINAL ORDER/JUDGEMENT

Smt. SAHANA AHMED BASU, Member,

Brief facts of the case are that, complainant invested Rs.3,26,655/- with OPs as fixed deposited on 23/04/2013 against Certificate Nos. 000057703, 000058700, 465 000245189, 467 004880191, 467001621864 to 467001621867, 467001621869 to 467001621870, 555000893342 to 555000893343, 555000893346 to 555000893348, for 9 years. Date of maturity of those certificates has passed. Complainant invested the aforesaid amount under with their lucrative offer of lucrative maturity value of Rs.7,26,655. Despite maturity the OPs did not refund the matured amount. Finding no other alternative, complainant issued letter dated 28.03.2021 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 photocopies of certificates dated 23/04/2013, issued by the OP-1 to the complainant it is clear that vide those certificates complainant invested Rs.3,26,655/- to OPs. It is also clear from those certificates that OPs had agreed to refund the investment amount with maturity amount of Rs.7,26,655/- within 9 years from the date of issue i.e. 23/04/2014. 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 including interest of Rs.7,26,655/- to the complainant after 9 years. 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.3,26,655/- 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 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.7,26,655/- 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.