Date of Filing:  19.11.2013                                                 Date of Final Order: 30.06.2015

The fact of the case as can be gathered from the record is that the Complainant No.1, Sri Dipak Kundu is a retired service man, complainant No.2 Smt. Malati Kundu is a house wife, being attracted by the lucrative advertisement and convinced by the proposal made by the O.P. Company, purchased share certificates under their scheme by investing certain amount. The above Complainants in view to earn some money invested their hard earned money to the O.P. Company. The Complainants deposited money against the Share Certificates Numbers which are furnished below:

The Complainants deposited the aforesaid amount to the O.Ps for getting monthly return but the O.Ps rendered service by paying monthly return up to April, 2013 and thereafter stopped payment. The Complainants went to the office of the Opposite Parties on different dates for regularizing the payment of M.R. against the deposits but the O.Ps did not pay any heed. By not receiving the M.R. the Complainants requested to return the principal amount but it was turned down and ultimately no payment has been made by the O.P. Company even after elapsing so many months. Moreover, the O.P. had taken time on various pretexts and ultimately deprived the Complainants from their genuine claim.

The Complainants filed the present case before this Forum on 25.11.2013 through Ld. Agent and based on DF case No. 146/2013 has been registered for further proceeding. After admission hearing Notices were issued upon the 3 Opposite Parties but all the notices were returned back with an endorsement “Door Closed” “Left without Address” etc. for which the Complainant was directed to take step and allowed to serve the notices through paper publication. Thereafter the Complainant prayed for serving the notice through the Superintended of District correctional Home, Cooch Behar as the Opposite parties at that time was in the Jail custody as such notices were served upon O.Ps through the Superintended of District correctional Home, Cooch Behar but the O.ps did not appear before this Forum and resultantly the case was heard in Ex-parte against the opposite parties.       

In the light of the facts and circumstances of the case, the following points necessarily came up for consideration.

POINTS  FOR  CONSIDERATION

1. Are the Complainants Consumer as per Section 2(1)(d)(ii) of the C.P. Act, 1986.
2. Has this Forum jurisdiction to entertain the instant complaint?
3. Have the O.Ps any deficiency in service as alleged by the Complainants?
4. Whether the Complainants are entitled to get relief/reliefs as prayed for?

DECISION  WITH  REASON

We have perused the entire documents in the record and heard the Ex-parte argument of the agent of the complainants in full. Perused the Evidence on affidavit with the original documents also the documents marked as Annexure 1-13 filed by the Complainants.          

Point No. 1.

Evidently, the Complainants in view to savings their money invested a huge amount to the Opposite party’s Company. The opposite parties issued duly signed Acknowledgement slip in favour of the Complainants against the said deposit. Thus, the relation between the Complainants and the O.Ps so established from the record we are in considered opinion that the Complainants are the “Consumer” of the O.Ps. as mandated by the provision laid down in Section 2(1)(d)(ii) of the C.P. Act, 1986.

Point No. 2

From the Complaint, evidence and related documents on record it is crystal clear that this Forum has territorial & pecuniary jurisdiction to try the case.

Point No. 3.

It is the case of the Complainants that they invested a huge amount in the Royal International Trading a Money Marketing Agency, attracted by their lucrative return. The documents made available on record it make clear that the O.P. No.1 intervened the matter for initiation of the policy.

The further case of the Complainants against the Royal International Trading is that they did not receive the pre-matured amount from the end of the O.P. as per the terms and condition of the deposit.                       

Moreover, it is also evident from the Annexure 1-13 the Acknowledgements, that the Complainant No. 1 deposited total 3,20,000/- on several dates to the Opposite Party Company. The Complainant No. 2 also deposited Rs.8,80,000/- to the said Company respectively as shown in the following chart.

The Complainants in their evidence stated that they did not receive any monthly return after April 2013 also the principal/maturity amount from the O.P Company that is unchallenged and it is reasonably be presumed that the O.P received the amount, issued certificates but did not return the deposited amount to the Complainant. Thus, in the light of the foregoing discussion we find that the O.Ps are guilty of deficiency in service and they were running their business by adopting the arm of Unfair Trade Practice. No browser, Memorandum of Association, Advertisement, Leaflet, or the like has been produced/ adducing in evidence as to source, made, terms and conditions of the said deposits.

It is also Venerable point as to how such a Money Lending Trade can pay 9% Monthly Money Return @108% per year by further investment by such Royal International Trading on by any name give to earn more than 108% interest/ profit. Further, it is rampant in our country existence of such fake, fraudulently formed “Companies” in respect of money marketing ran and still running and people of ordinary prudence, poor and illiterate people are being victims so also so called agents of such Companies/Tradings who are also being victim of such “Unfair Trade Practice”.

Here, in the present case the complaint should be judged based on record available in absence of the Opposite Parties who despite received the Notice neither entered appearance nor has taken any step in defense by any means and ways. There are other cases against the said Royal International Trading. In those cases also no step has been taken by them so far even Final Orders passed.

On the other hand, The Royal International Trading though have got their business within West Bengal especially in this District Cooch Behar, in spite of having so many Branch Office even the so-called M.D., Directors are in the custody of the Correctional Home. It is pertinent to mention that already this Forum in execution case against the Officials of the opposite Parties, gave imprisonment for non-compliance of the Forum’s Order. May whatever be, if exemplary compensation including the Capital investments is not allowed it will be indulgence/ encouragement to their unauthorized Money Marketing Agencies and throwing the ordinary people to ruin by investment in such unscrupulous Unfair Trade Practice Agencies. The Opposite Parties are involved in Unfair Trade Practice is undisputed right from the origin to the performance in service which appears quite deficient in terms of provisions of the Consumer Protection Act, 1986.

Point No. 4.

As it is already proved that the O.Ps have deficiency in service by not returning the deposited amount to the Complainants also adopted Unfair Trade Practice, the Complainants are entitled to get compensation including the Capital Investment as the deposits have not been under challenge.

Thus, the complaint succeeds by unchallenged testimonies.

ORDER

Hence, it is ordered,

that the Complaint Case do succeeds and the case be and the same is allowed in Ex-parte with direction to the Opposite Party Nos.1 to 3 i.e. (1) Smt. Archana Sarkar, C.M.D., (2) Smt. Nilima Dey, M.D. both of Royal International Trading and (3) Royal International Trading jointly and/or severally to pay (a) The Capital Amount Rs.3,20,000/- with compensation Rs. 30,000/- to the Complainant No. 1, Rs. 8,80,000/- with compensation Rs. 50,000/- to the Complainant No.2. The opposite Parties are hereby further directed to pay the Complainants as litigation cost of Rs 10,000/-.

Further, the Opposite Parties shall make the payment of Rs.12,10,000/- within  45 days  failure of which the Opposite Parties shall pay 8% interest (annual) on Rs.12,00,000/-(the total deposited amount) to the Complainants and also pay @ Rs.100/- for each day’s delay w.e.f. from the date of expiry of the said 45 days and the amount to be accumulated shall be deposited in the State Consumer Welfare Fund, West Bengal.

A plain copy of this order be made available and be supplied to the parties by hand/Registered post free of cost with A/D. 

Dictated and corrected by me.                                                                                                                           

                  Member                                                                                       President

   District Consumer Disputes                                                        District Consumer Disputes                       

Redressal Forum, Cooch Behar                                                  Redressal Forum, Cooch Behar.       

                   Member                                                                                      Member

   District Consumer Disputes                                                        District Consumer Disputes

Redressal Forum, Cooch Behar                                                  Redressal Forum, Cooch Behar