Date of filing :15.6.2018

Judgment : Dt.23.9.2019

Mrs. Sashi Kala Basu, Hon’ble President

            This petition of complaint is filed under section 12 of C.P.Act, 1986 by Sri Krishnendu Sikdar alleging deficiency in service on the part of the opposite parties (referred as OP hereinafter) namely (1) Sahara Q Gold Mart Limited, (2) Registered & Corporate office at Sahara Indian Sadan and (3) Controlling Office at Sahara India Bhawan.

Case of the Complainant, in short, is that he booked 56.100 grams i.e. 22 kt gold by filling up purchase form of Q Gold Bank through the agent and/or introducer of the OP. At the time of booking, Complainant paid Rs.1,00,103/- in favour of the OP and a certificate/receipt vide Sl. No.92000089883, receipt No.912004700221, booking Id 15834700083 dt.4.6.2012 was issued in favour of the Complainant. It was settled that the Complainant being the certificate/receipt holder would get said quantity of gold i.e. 56.100 grams within 30 days from the date of receiving of the request for delivery after its expiry of stipulated tenure i.e. after 5 years from the date of issuance of the receipt. The date of maturity was on 4.6.2017. So, after the maturity, Complainant requested the OP to release the assured quantity of gold in his favour. But the OP avoided and has not paid the gold as assured. So, on 31.1.2018, Complainant sent a legal notice to the OP through his Ld. Advocate asking to deliver the assured quantity of gold or pay the sum of money equivalent to the present market value of such amount of gold with interest @ 18%p.a. But, in spite of sending of the notice, no heed was paid by the OPs and thus the present complaint has been filed praying to direct the OPs to deliver the assured quantity of 22 kt gold i.e. 56.100 grams or to pay the sum of money equivalent to the present market value of such amount of gold along with interest @ 18% p.a. from the date of maturity, to pay compensation of Rs.1,00,000/- and the litigation cost.

OP has contested the case by filing the written version denying and disputing the allegations contending inter alia that despite several requests Complainant did not produce the original certificate before OP for internal process of disbursement of payment. It is also contended that due to embargo on transfer of movable or immovable properties of Sahara Group, they are unable to make payment. Thus the OPs have prayed for dismissal of the case.

Complainant has annexed with the complaint petition copy of the certificate/receipt issued by the OP on 4.6.2012 and copy of the notice dt.31.1.2018.

During the course of evidence, Complainant filed the evidence, followed by filing questionnaire and reply. But no evidence was filed by the OP. Thus the matter came up for argument.

Argument has been advanced by the Complainant. But, OPs remained absent at the time of hearing of argument on 9.8.2019.

So, the following points require determination:

1)Whether there has been any deficiency in service on the part of the OPs?

2) Whether the Complainant is entitled to the relief as prayed for?

Decision with reasons

            In support of his claim that he had booked 56.100 grams i.e. 22 kt gold and the certificate/receipt was issued by the OP on payment of Rs.1,00,103/- by the Complainant, Complainant has filed the said certificate in original. On perusal of the certificate, it appears that OP assured the Complainant for providing 56.100 grams gold which was to be provided after 5 years from the date of issue of the receipt, as per the terms and conditions mentioned therein. Complainant paid an amount of Rs.1,00,103/- on the said date of booking and on receiving the amount, certificate being Sl.No.92000089883 and receipt No.912004700221 was issued by the OP. It is apparent from the written version filed by the OP that OP has not disputed and denied issuing of the said certificate and providing of the assured gold as stated therein. The only contention raised is that the Complainant did not hand over the original in the office of the OP. But the original is filed by the Complainant before this Forum. OP has not filed any document to show that due to the latches on the part of the Complainant in not filing the original, they did not provide the said assured gold to the Complainant. Another plea has been taken by the OP that due to embargo, Sahara Group, are unable to transfer the property and thus unable to make the payment. It may be mentioned that there are several other cases of same nature pending before this Forum and in those cases Ld. Advocate, namely Mohammed Sahil, appearing for OP has fairly submitted that the matter between the SEBI and the Sahara Group relates to only in respect of those people who have moved before the SEBI in respect of the investment made by them with Sahara Group.

In this case, Complainant has filed a verified petition stating that barring this case, he has not moved or filed any other case before any other Court, Forum or statutory body. So, as admittedly, the assured gold has not been provided by the OP, even after the expiry of 5 years, there has been deficiency in service and thus Complainant is entitled to delivery of the assured quantity of gold or in alternative the sum of money equivalent to the present market value of such amount of gold along with interest. However, as the interest is being allowed, we do not find any justification to allow the compensation as prayed.

            Hence

                                ordered

            CC/363/2018 is allowed on contest. OP is directed to deliver the assured quantity of gold i.e. 56.100 grams or in alternatively, the sum of money equivalent to the present market value of such amount of gold along with interest @ 15% p.a. from the date of maturity i.e. 4.6.2017 to till this date, within two months from the date of passing of this order. OP is further directed to pay litigation cost of Rs.10,000/- within the aforesaid period of two months. In default of payment of the sum, the entire sum shall carry interest @ 10% p.a. till realisation.

            On compliance of the direction in the judgment by the OP, Complainant shall return the original certificate/receipt to the OP.