Judgment : Dt.21.9.2017

Shri S. K. Verma, President.

            This is a complaint made by one Saurav Kumar Chakravarty, son of Late Ajitendu Chakravarty, 18, South End Garden, P.S.-Patuli, Kolkata-700 084  against Teachers Welfare Credit & Holding Ltd., 10/99, Bijoygarh, P.S.-Regent Park, Kolkata-700 092, OP No.1 and Sri Swapan Ghosh, Director,  Teachers Welfare Credit & Holding Ltd., 10/99, Bijoygarh, P.S.-Regent Park, Kolkata-700 092, OP No.2 praying for an order directing the OPs to return back the matured value of the MIS deposited to the Complainant and an order directing the OPs to pay interest on the matured value of the MIS and to pay compensation and litigation cost.

            Facts in brief are that OPs are a non-banking institution. OPs induced the Complainant to keep fixed deposit with them with the assurance that they would return the matured value on due date. Complainant deposited with the OPs a sum of Rs.1,60,000/- by MIS account on 22.1.2014 for 27 months which matured on 22.4.2016 and the matured value was Rs.2,14,620/-. After maturity, Complainant requested the OPs several times, but OPs did not pay the amount. OPs replied the Complainant vide letter dt.19.11.2016 that they will try to return the money by installments from April, 2017 to the Complainant. But they did not do it. So, Complainant filed this case.

            OPs did not contest the case by filing written version.

Decision with reasons

            Complainant filed affidavit-in-chief wherein he has reiterated the facts mentioned in the complaint petition.

            Main point for determination is whether Complainant is entitled to the reliefs as prayed for.

            On perusal of the documents filed, it appears that Complainant has filed one certificate which reveals that OPs received Rs.1,60,000/- and on maturity the amount to be paid is also Rs.1,60,000/-.

            Further, it appears that Complainant deposited this money under MIS scheme, which makes it clear that the deposit was made under Monthly Interest Scheme. On perusal of the receipt No.25478/31827, it appears that maturity value is Rs.1,60,000/-. Complainant has prayed for passing an order directing OPs to return back the maturity value. Further, on perusal of the back side of the original certificate, submitted by the Complainant, it appears one part payment of Rs.1,600/- was made and the amount remains Rs.1,58,400/-. So, at best, Complainant is entitled to Rs.1,58,400/-.

            Complainant has prayed for a direction upon the OPs to pay interest on the maturity value of the MIS deposited till realisation. There is no averment as to whether Complainant received interest or not, which itself makes it clear that Complainant did not approach this Forum with clean hands. However, since OPs did not contest, Complainant is entitled to Rs.1,58,400/- and not to any compensation or interest. It is because, Complainant did not approach this Forum with specific and clean prayers.

            Hence,

ordered

            CC/248/2017 and the same is allowed ex-parte. OP No.2 is directed to pay Rs.1,58,400/- to the Complainant within three months of this order, in default the amount shall carry interest of 10% p.a.