DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR

                                                                  Complaint no. 259                                                                                      

                                                                   Instituted on:  05.06.2017

                                                                   Decided on:    03.10.2017

Joyti ( minor) d/o Sh. Sajan Singh 2. Rajveer Singh ( minor) son of Sajjan Singh resident of Ram Nagar Sibian, Tehsil and District Sangrur under the guardianship of their father Sajan Singh son of Gurjant Singh resident of Ram Nagar Sibian, Tehsil and District Sangrur.    

                                                …. Complainants.    

Versus

1.       Singhland Investment Limited 36 Maharaja Ranjit Singh Market, Uppli Road, Sangrur-Punjab through its authorizes Signatory.  

2.       Singhland Investment Limited  208, 2nd Floor, Syall Complex Above H.D.F.C. Bank, Ludhiana-141003 through its Director.

3.       Singhland Investment Limited Real Estates & Infratek Limited 210, 2nd Floor, Syall Complex Above H.D.F.C. Bank, Ludhiana -141003 through its Director.

        ….Opposite parties.

FOR THE COMPLAINANT:        Shri Jatinder Verma Advocate                          

FOR THE OPP. PARTIES  :         Shri J.S.Dhiman, Advocate         

Quorum

                    Sukhpal Singh Gill, President

Sarita Garg, Member

Vinod Kumar Gulati, Member

ORDER:  

Sukhpal Singh Gill, President

1.             Joyti  and Rajveer Singh complainants have preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that on the assurance of the officials of the OPs, on 25.04.2017  she ( complainant number 1)    invested an amount of Rs.50,000/-  in cash which is a single mode of payment for 36 months and a  unit/ bond bearing number SGN/000994 was issued. The maturity date of  bond  was 25.04.2017 and the maturity value was Rs.71000/- and similarly on 27.06.2015  an amount of Rs.30,000/- was deposited  with the OPs in the shape of FDR under FDR bearing sr. no.SGN/006205 in the name of complainant number 2 which was to be matured on 27.6.2016  for Rs.33600/- The complainants submitted the original bond/unit  on 03.05.2017 and also deposited the original FDR no.6205 on 27.06.2016 but the OPs did not make the full payment of the said bond and FDR till date. Thus, alleging deficiency in service on the part of OPs, the complainant has sought following reliefs:- 

i)      OPs be directed to make/ release the maturity amount of Rs.71000/- of bond alongwith interest @18% per annum and maturity amount of Rs.33600/- of the FDR alongwith interest @18% per annum from the date of maturity till realization,

ii)     OPs be directed to pay to the complainant a sum of Rs.50000/- as compensation   on account of mental agony, harassment,

iii)     OPs be directed to pay Rs.20000/- as litigation expenses.

2.             In reply filed by the OPs, it is denied that the complainants have booked any unit as alleged in the complaint. It is stated that when the complainants have not invested any amount with the OPs then the question of date of maturity does not arise at all.  Further the question of obtaining any other policy is also denied.  It is stated that when no policy was obtained then the question of nomination does not arise at all. Thus, there is no deficiency in service on the part of the OPs.

3.             The complainant has tendered documents Ex.C-1 to Ex.C-7 and closed evidence. On the other hand, OPs have tendered an affidavit Ex.OP-1 and closed evidence.  

4.             From the perusal of documents placed on the file and after hearing the arguments of the learned counsel for the parties, we find that the complainant no.1 booked a unit/bond  bearing Sr. No.SGN/000994 for an amount of Rs.50,000/-    which is a single mode of payment in cash for 36 months  on 25.04.2014 which was to be matured on 25.04.2017 which is evident from the copy of bond/ unit Ex.C-3 and the maturity amount is Rs.71000/-. We also find that complainant number 2 also obtained FDR bearing Sr. No. SGN/006205  of Rs.30,000/- on 27.06.2015 which was to be matured on 27.06.2016 and the maturity amount is Rs.33600/- which is also evident from copy of FDR Ex.C-2. On the other hand, OPs have totally denied the facts of the complaint. It has been specifically denied by the OPs that the complainant no.1 had  obtained  any unit/FDR as alleged in the complaint.  The OPs also denied that the complainant number 1 had also obtained any FDR from them. The complainant has also stated that a postdated cheque for an amount  of Rs.20,000/-  was also issued by the OPs  but the same was returned to the OP no.1 on 19.05.2017 with  request to make the full payment of FDR amount of Rs.33600/-. The OPs have not produced any documentary evidence to show that alleged cheque has been encashed from their account.

5.             The complainants have also produced on record  receipts/slips  regarding  deposit of original bond/unit and FDR Ex.C-4 and Ex.C-5 which shows that the complainant had submitted the original bond/unit and FDR for release of the payment after maturity period with the OPs.  The said receipts/ slips are also duly signed and stamped by the OPs. But, we failed to understand that when the  copies of  receipts / slips for submission of required documents for release of the payment of unit/bond and FDR  issued by the OPs are  on record then on what basis  the OPs have denied all facts regarding investment of amount and issuance of any receipt to the complainants. We find that the record/ documents produced on the file clearly show regarding investment of said amount  by the complainants with the OPs. 

6.             For the reasons recorded above, we find that the OPs have totally denied the facts of the complaint whereas evidence produced by the complainants on record fully prove his case. As such, we allow the complaint of the complainants and direct the OPs to make the maturity amount of bond/ unit of  Rs.71000/- to the complainant no.1 along with interest @9% per annum from the date of maturity till realization and also direct the OPs to make the maturity amount of the  FDR of Rs.33600/- alongwith interest @9% per annum from the date of maturity till realization. We further order the OPs to pay to the complainants a sum of Rs.5000/- as compensation on account of mental pain, agony and harassment and also to pay to the complainants a sum of Rs.1100/- as litigation expenses.

7.             This order of ours shall be complied with  within 60 days from the receipt of copy of the order.  Copy of the order be supplied to the parties free of charge. File be consigned to records in due course.                   Announced

                October 3, 2017

( Vinod Kumar Gulati )  ( Sarita Garg)       (Sukhpal Singh Gill)                                                                                                                                                                    

Member                    Member                            President

BBS/-