This is an application u/s.35 of the C.P. Act, 2019. The case of the complainant, in a nutshell; is that he deposited Rs. 11,46,837/- with the OP on different dates and the OP issued 19 certificates bearing Nos. 705001294277, 705000752819, 705000752818, 705000752889, 705000752888,705001293529, 705001293528, 705001293526, 705001293475, 705001293380, 705000840612, 705001293527, 705001294400, 705000840611, 7050001294401, 705001293824, 705001293944 & 797000225916. Such amount was deposited to the O.P with a hope to get monthly interest with further assurance to get withdrawal of principal amount along with interest on the dates of its maturity. OP suddenly stopped payment monthly interest with regard to invested amount. The acts, activities and conduct of the OP constitute a clear case of deficiency in service and unfair trade practice. The OP holding public money for their own benefit and expansion of their business. The OP violated their promise. Neither the OP refund the principal amount of Rs 11,06,222/- nor paid any interest thereon. Hence, the complainant has prayed for directing the OP to make payment of principal amount of Rs 11,46,837/-along with interest at the rate of 18 percent p.a. till the date of making payment including Rs. 1,00,000/- towards mental harassment, agony and Rs1,00,000/- as cost of litigation. Despite of service of notice the OP did not turn up to contest the case by filing WV. As such, the case has been proceeded ex parte against the OP. Decision with Reasons Complainant Sri Biswarupe Paladhi 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 evidence adduced in support of the complaint. On perusal of the photocopies of certificates bearing No. 705001294277, 705000752819, 705000752818, 705000752889, 705000752888,705001293529, 705001293528, 705001293526, 705001293475, 705001293380, 705000840612, 705001293527, 705001294400, 705000840611, 7050001294401, 705001293824, 705001293944 & 797000225916, it appears that the complainant deposited Rs. 11,46,837/- to the OP on different dates and the maturity dates of the subject certificates are 18.01.2019, 01.12.2018, 29.03.2018, 21.08.2018, 29.03.2018, 20.06.2018, 31.07.2018, 21.08.2018, 31.03.2017,28.02.2017, 31.10.2019, 28.02.2017 & 09.09.2019 respectively. The OP Company is not in a position to refund the principal amount along with interest thereon. Despite several requests, the OP did not refund the principal amount coupled with interest to the complainant. Thus, it stands to prove that the OP has failed to refund the deposited amount of Rs. 11,46,837/- to the complainant against certificate Nos. 705001294277, 705000752819, 705000752818, 705000752889, 705000752888,705001293529, 705001293528, 705001293526, 705001293475, 705001293380, 705000840612, 705001293527, 705001294400, 705000840611, 7050001294401, 705001293824, 705001293944 & 797000225916. In absence of any explanation, failure to comply several requests, we have no hesitation in concluding that the OP has committed deficiency in service as also has indulged unfair trade practice. We do not find any reason why the OP collected huge amount from the complainant by issuing certificates and hold the amount as per their own discretion. Complainant actually invested Rs.11,06,222/- as it appears from photocopies of the certificates annexed with the complaint petition but the complainant has claim Rs. 11,46,837/- which is without any documentary evidence. The complainant invested Rs.11,06,222/- to the OP with a hope to get interest till the date of maturity of the certificates. Now, the question as to what should be the amount of compensation to be granted to the complainant? The Ld. Advocate for the complainant however, has pressed interest at the rate of 18 percent p.a. on the deposited amount of Rs. 11,46,837/- including of Rs. 1,00,000/- towards mental agony and harassment and litigation cost of Rs. 1,00,000/-. In our opinion, the claim of interest at the rate of 18 percent p.a., Rs. 1,00,000/- each towards mental agony, harassment and litigation cost is too much excessive. In our considered view, it would adequately meet ends of justice, if simple interest at the rate of 6 percent p.a. and Rs. 10,000/- towards mental agony and harassment are allowed on account of mental agony and harassment in favour of the complainant. In view of the foregoing discussion, the consumer complaint is allowed ex parte in part against the OP with the following directions:- - The OP is directed to refund principal amount of Rs. 11,06,222/- (Rupees Eleven lac Six thousand two hundred twenty two) only to the complainant along with simple interest at the rate of 6 percent p.a. from the dates of deposit i.e. 18.01.2019, 01.12.2018, 29.03.2018, 21.08.2018, 29.03.2018, 20.06.2018, 31.07.2018, 21.08.2018, 31.03.2017,28.02.2017, 31.10.2019, 28.02.2017 & 09.09.2019 respectively till actual payment.
- The OP is directed to pay Rs. 10,000/- (Rupees ten thousand) only to the complainant for mental and physical harassment.
- The OP is also directed to pay Rs. 3,000/- (Rupees three thousand) only towards litigation cost to the complainant.
The above directions be complied by the OP within a period of 60 days from today, failing which the complainant shall be at liberty to execute the order by filing appropriate application under Sections 71 & 72 of the C.P Act, 2019 against the OP. Order be communicated to the complainant as per rules. |
