For the Complainant - Md. Sayem, Advocate
FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
This is an application U/s.12 of the C.P. Act, 1986.
The case of the Complainant, in short; is that he deposited Rs.5,000/- with the OP on 05.04.2008 against certificate No. 9170004205108 and the OP agreed to pay redemption value of Rs.15,530/- on completion of 10 years. Despite completion of 10 years, the OP failed and neglected to credit Rs. 15,530/- to his bank account in spite of depositing original certificate. There is deficiency in service and unfair trade practice on the part of the OP. Finding no other alternative, complainant has filed the instant consumer complaint directing the OP to refund Rs. 15,530/- along with interest at the rate of 12 percent P.A., compensation and litigation cost.
The OP is resisted the complaint by filing WV where in they have denied all the material allegations contained in the consumer complaint. The specific case of the OP is that the transaction between the parties is a commercial/financial transaction and the complainant may ventilate his grievance before the competent civil court having territorial jurisdiction. The complainant failed and neglected to comply the terms and conditions stipulated in the application form and the OP has no obligation to refund the claim amount to the complainant. There is no deficiency in service and or unfair trade practice on the part of the OP. Accordingly, the OP has prayed for dismissal of the complaint with exemplary cost.
Points for determination
- Whether the OP is deficient in rendering service to the complainant?
- Whether the OP has indulged in unfair trade practice?
- Whether the complainant is entitled to get relief as prayed for?
Decision with Reasons
Point Nos.1 to 3
All the points are taken up together for the sake of convenience and brevity in discussion.
Complainant Sri Subrata Bhandari files his evidence by way of affidavit supporting allegations made in the complaint. In spite of giving opportunity, the OP failed to file E/chief.
On perusal of photocopy of certificate being No. 9170004205108, it appears that the complainant invested Rs.5,000/- to the OP against Receipt No. 1801018306141 dated 05.04.2008 and the period of investment was 10 years. On completion of 10 years, the complainant deposited the original certificate to the OP for
refund of matured amount of Rs. 15,530/- but the OP failed and neglected to credit the matured amount to his bank account. The OP is fully aware that they are liable to pay matured amount of Rs. 15,530/- to the complainant but failed to comply the terms and conditions of the certificate in spite of expiry period of 10 years. The principal amount of Rs.5,000/- is still lying with the OP till date. We think that the activities and acts on the part of the OP constitute a sheer deficiency in service. The OP is holding public money for their own gain and expansion of business and also harassing the public who invested their hard earned money relying on the assurance of the OP. It indicates that the OP has adopted unfair trade practice, and in fact we hold that the OP withhold of the matured amount which no doubt adopted deceitful manner of trade and by that act complainant did not get back the matured amount in spite of furnishing original certificate. The OP is reluctant to refund the matured amount to the complainant.
Based on the above discussion coupled with evidence and document on record, we are of the opinion that the complainant is entitled to get relief as prayed for.
In the result, the case merit succeeds in part.
Hence,
Ordered
That the consumer case be and the same is allowed on merit against the OP with litigation cost of Rs.2,000/- (Rupees two thousand) only .
The OP is directed to refund the matured amount of Rs.15,530/-/- (Rupees fifteen thousand five hundred thirty) only against certificate No. 9170004205108 and shall have to pay Rs.5,000/- (Rupees five thousand) only as compensation to the complainant for causing harassment, mental pain and agony apart from litigation cost within 60 days from the date of the order.
OP is directed to comply the order strictly within specified period, in default, liberty be given to the complainant to put the order in execution under appropriate provision of Consumer Protection Act,1986.
Order be communicated to the parties as per rules.
