Order-13.

Date-26/06/2015.                .

This is an application u/s.12 of the C.P. Act, 1986.

          Complainant by filing this complaint has submitted that complainant is the holder of the money bonds issued by the Rose Valley vide application No.07C088045890 and maturity date was 29-07-2014 and the complainant deposited the said maturity document on 21-07-2014 before the OP2 and OP2 issued receipt in favour of the complainant and assured to make payment within 12-08-2014.  Accordingly complainant visited the said office of the OPs1 and 2 and requested the OPs to make payment of the maturity amount in total Rs.26,436/- but on several instances with some false pretext OP denied to make payment and lastly on 28-10-2014 complainant went to the said office of the OP1 and requested the office staff of the OP1 to make payment but the said office staff of the OP with rough attitude and behaved unmannerly and said that payment would be delayed.

          In the above circumstances, considering the deceitful manner of service complainant has filed this complaint praying for directing the OP to refund and pay the entire maturity amount of Rs.26,436/- and also further interest over the said amount including the compensation for harassment to the complainant in such a manner.

          On the other hand, OP by filing written statement submitted that the claim of the complainant is substantially correct in respect of refund of Rs.26,436/- but the claim of compensation, litigation cost etc. is completely not tenable in view of the fact about 2600 Bank Account of the Rose Valley Group of Companies/OPs have been freezed by the Union of India in connection of the cases initiated by the Union of India.  The management of the OP has filed F.M.A. 4031 of 2014 before the Hon’ble High Court at Calcutta and finally the same has also been rejected by the Hon’ble Chgief Justice of the Hon’ble High Court at Calcutta on 30-03-2015.  So, the management of OPs has decided to challenge the decision of the Hon’ble High Court at Calcutta before the Hon’ble Appex Court at Delhi for the de-freezed of the said accounts so as to enable the OP to repay the maturity amount to the customers.  However, the complainant was requested verbally that as soon as the financial position of the OP permits they will repay the amount immediately, but there is no deficiency or negligence on the part of the OP.

Decision with Reasons

On proper consideration of the complaint and the written version of the OPs including the argument of the OP it is clear and admitted fact that the complainant is entitled to maturity amount of Rs.26,436/- and it is fact that during pendency of the same before this Forum OP has paid maturity amount of Rs.26,436/- and that has been paid on18-06-2015 but date of maturity was on 29-07-2014 that means for last one year the said maturity amount has not been disbursed or paid to the complainant.  then invariably for that one year OP has not paid the interest and the interest rate shall be assessed 10 percent as per rate of interest as awarded against amount that is the bond when OP has denied to pay the amount within that time and harassed for one year then invariably OP is bound to pay interest  at the rate10 percent over the said amount for one year and that shall be paid invariably within one month from the date of this order and to that effect order is required to be passed when maturity amount is paid on 18-06-2015 before this Forum by the OP.  Another factor is that Rose Valley the OP has not paid matured amount to many person and many persons are loitering in the street for getting their maturity amount and fact remains OPs are avoiding them and ultimately they are filing case before this Forum and some other Forum and in this case if the complainant shall not have to file this complaint in that case complainant shall not have to get such relief.  So, harassment was caused by the OP to the complainant is well proved for which the complainant is entitled to get litigation cost also.

In the result, the case succeeds.

Hence,

Ordered

That the case be and the same is allowed on contest with a cost of Rs.2,000/- against the OPs.

          OPs shall have to pay 10 percent interest over Rs.26,436/- for one year and that shall be paid to the complainant within one month from the date of this order along with litigation cost and if OP fails to pay the assessed interest amount including the litigation cost in that case OP shall have to pay penal damages  at the rateRs.100/- per day till full satisfaction of the decree.

          Even if it is found that OP is unwilling to pay this order OP shall be prosecuted u/s.27 of the C.P. Act, for which further penalty and fine shall be imposed.