FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Humara India Credit Co operative Society Ltd. is a Financial Institution. OP is the Secretary of Humara India Credit Co operative Society Ltd. Complainant invested Rs. 20,465/- to the OP on 31.05.2016 for a period of 36 months. OP issued certificate bearing No. 605001593391 to the complainant. The maturity date of the said certificate is 31.05.2019 and its maturity value is Rs. 31,434/-. Despite repeated request the OP did not refund the matured amount. Several correspondence were made with the OP but no fruitful result is forthcoming. Complainant issued notice dated 19.02.2020 requesting the OP to refund the matured amount. Notice was unattended. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OP.
In view of the gross deficiency in service and unfair trade practices of the OP, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
The OP contested the case by filing WV denying the allegations of the complainant. The OP has admitted the investment of the complainant but alleges that the complainant failed to submit KYC documents to the OP for payment of matured amount. There is no deficiency of service and unfair trade practice on the part of the OP. Accordingly, the OP has prayed for dismissal of the complaint.
Complainant has filed her evidence supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of her case. Despite given opportunities the OP failed to file their E/chief.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 20,465/- to the OP against certificate bearing No. 605001593391 dated 31.05.2016. The maturity date of said certificates is 31.05.2019. Despite several request and notice dated 19.02.2020, OP did not pay the matured amount to the complainant. OP is fully aware that they are liable to pay the matured amount to the complainant on its maturity. Complainant invested her hard earned money with the OP. The OP is deliberate to make illegal gains and to deprive the complainant from her lawful right. In fact, the OP withhold the maturity amount which no doubt deceitful manner of trade.
OP has not filed their E/chief denying the allegations made in the complaint petition. Complainant in her E/chief did support the allegations made out in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OP. The act of the OP is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested her money to the OP, she would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of Humara India Credit Co operative Society Ltd. (F-36 Golden VM) along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed in part on contest against the OP with the following directions :-
- OP is directed to pay matured amount of Rs. 31,434/- (Rupees thirty one thousand four hundred thirty four) only to the complainant.
- OP is further directed to pay Rs. 10,000/- (Rupees ten thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OP is also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OP within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
Copy of the judgment be supplied to the parties free of cost as per CP Act. Upload the judgment on the website of this Commission for perusal of the parties.
