DATE OF DISPOSAL: 06.07.2023

PER:   SRI SATISH KUMAR PANIGRAHI, PRESIDENT: 

The fact of the case in brief is that the complainants have filed this Consumer complaint under section 35 of the Consumer Protection Act, 2019 alleging deficiency in service against  the Opposite Parties (in short O.Ps.) and for redressal of his grievance before this Commission.

2. The complainant is a woman and for the future personal purpose deposited the amount as per motivation of the O.Ps to get lucrative returns of such deposits in future through their agent and advertisements. The complainant accepting the said offer of the O.Ps deposited in SUPER BB Scheme under ‘Saharayan Universal Multipurpose society ltd.’ which was fixed for 36 months from the date of payment of the contribution.  The O.Ps issued Money Receipts and control number in shape of bonds to the complainant.

The scheme Super BB was matured on 13.11.2020 to 28.05.2021 and the complainant is entitled to receive the amount of Rs.26,910/- on the above matured date. Further the complainant is also entitled to get the services as prescribed in the bonds under Annexure-A. In the instant case, the complainant has not got any benefits under the above deposits. But on approach of the complainant after the matured time, the O.P.No.2 has denied to handover the maturity amount, the reasons best known to them and advised to come after 30 to 35 days and denied of payment of matured amount to the complainant instantly. The complainant approached again after scheduled date and thereafter complainant along with other depositors of the present opposite parties made several strikes and filed representation through Government of Odisha which was published in different national news paper but all in vain. The O.Ps are violating their contribution features also. Thereafter, till date the complainant approached the O.P.No.2 for refund of the matured amount with delayed interest in regular interval in person and some time through the friends and relatives but O.P.No.2 paid deaf ear which is tantamount to deficiencies in services and unfair trade practices and assurances given by both the opposites parties are misleading.  Alleging deficiency in service on the part of the O.Ps the complainant prayed  to direct the O.Ps to refund the entire matured amount of Rs.26,910/- with 18% interest per annum, compensation of Rs.30,000/- and litigation cost of Rs.8,000/- in the best interests of justice.

            3. Notice was issued to the O.Ps. Duly acknowledged the notices of the Commission but they did not appear nor filed any written version, hence the O.Ps were declared exparte on 19.06.2023.

            4. On the date of hearing of the consumer complaint, the authorized representative for complainant is present. We heard argument from him for the complainant at length and perused the complaint petition, written argument and materials placed on the case record. It reveals that the complainant had deposited Rs.40,770/- on different dates  and entitled to receive Rs.70,231/- on 28.05.2021  from the O.Ps.   Though notice was sent by this Ld. District CDR Commission, Ganjam Berhampur for appearance and filing written version by the O.Ps but the O.Ps did not avail the said opportunity. Hence, taking the materials on the case record as well as the sole testimony of the complainant into consideration, we hold that the O.Ps are negligent in rendering proper service to the complainant as such we hold that there is deficiency in service on the part of the O.Ps. Further Law is well settled in case of Mrs. Puneet Kaur versus Hindustan Financial Management Ltd. and others reported in 2003(1) CPR 274 where in the Hon’ble National CDR Commission, New Delhi has held that “Non-payment of fixed deposit amount on its maturity by Financial Institution constitutes deficiency in service”. In another case when a company or a firm invites deposits on promise of attractive rates of interest and prompt repayment of principal and interest on the expiry of the stipulated period with full security for the investment in the shape of the assets of the company or firm, it is in essence of an offer by the company providing to interested persons a safe avenue for investment of their fund with an assurance of prompt repayment and full security of investment. The consideration for the arrangement consists of the fact that the company or firm is enabled to use the funds deposited with it for the purposes of its business. Such a transaction is clearly one of providing service for consideration and depositor is clearly a consumer under the Act. The Opposite Party was directed to repay the guaranteed value of the deposits with interests @ 12% per annum till payment and to pay the cost- Shanker Lal Rathi Versus Neha Leasing & Holdings ltd. 1996 (2) CPR 90. 

Moreover in another case the Hon’ble National Consumer Commission held in Adelkar Prathibha B. (Mrs.) & Ors V. Shivaji Estate Livestock and Farms Pvt. Ltd. & Ors reported in II (2015) CPJ 221 (NC) that “Complainant hired or availed services of O.P. for investing their savings in schemes floated by O.P. and deposited money with it for investing on their behalf in Goat Farming and allied activities- Complainant are consumers, Remedy before Consumer Forum is primarily a civil remedy - Complaint maintainable. Failure on parts of financial establishment to honour its commitment - Deficiency in service – Unfair trade practice - OP is directed to refund the investment made by complainant in scheme floated by it”.

              5. On foregoing discussion and in view of the clear position of law the complainant’s case is partly allowed on exparte against the O.Ps. The Opposite Parties are jointly and severally liable as such they are directed to pay the maturity value of Rs.70,231/- only along with 7% interest per annum  to the complainant within 45 days from receipt of this order. Further the O.P. is also directed to pay Rs.5000/- as costs of litigation to the complainant within the above stipulated period failing which all the dues shall carry 12% interest per annum till its actual date of realization from the date of filing of this case i.e. on 26.08.2022 and the complainant is at liberty to take appropriate steps in accordance to the Consumer Protection Act, 2019 for realisation of all dues. This case is disposed of accordingly.

              This case is disposed of accordingly.

              The Judgment be uploaded on the www.confonet.nic.in for the perusal of the parties.

              A certified copy of this Judgment be provided to all the parties free of cost as mandated by the Consumer Protection Act, 2019 or they may download same from the www.confonet.nic.in to treat the same as if copy of the order received from this Commission.

              The file is to be consigned to the record room along with a copy of this Judgment.

Pronounced on 06.07.2023.