Date of filing : 28.02.2019                                                                     

Date of Judgment: 24.11.2021

Mrs. Sashi Kala Basu, Hon’ble President.

This consumer complaint is filed by the complainants namely Rina Dutta Banik and Bikash Dutta Banik , under Section 12 of the C.P Act , 1986 against the opposite party  ( referred to as O.P hereinafter) namely Teacher’s Welfare Credit & Holding Limited, alleging deficiency in service on its part.

The case of the complainants, in short, is that complainants deposited jointly a sum of Rs.2 lac in MIS Account for 36 months with interest @9% p.a on 20.5.2015 with the O.P which is a non-banking company registered under the Companies Act 1956 and being represented by its Managing Director namely Swapan Kumar Ghosh. Complainant no.1 namely Rina Dutta Banik  also deposited a sum of Rs. 292874/- in MIS account with interest @9% p.a on 18.5.2015 and further  sum of Rs. 50,000/- and Rs.1,00,000/-  in MIS Account for 67 months and 60 months with interest @12.5% p.a on 20.8.2011 and 23.4.2011 . Complainant Rina Dutta Banik also had deposited Rs.3,50,000/- for 36 months @9% p.a on 14.5.2015. Complainant no.2 Bikash Dutta Banik deposited Rs.50,000/- for 66 months with interest @18.5% on 20.12.2011.  All the  MIS Accounts were to be matured on 22.5.2018, 18.5.2018, 20.3.2017, 14.5.2018, and on 20.6.2017 respectively and the matured amounts payable was Rs. 2 lac, Rs.292874/- Rs. 100,000/- Rs.180600/-, Rs. 350000/- and Rs.50,000/-respectively. The MIS deposit Accounts being no.BNS/34365/15/36, HNS/34667/15/36, D/12383/11/60, BNS/34543/15/36,B/19597/12/66 and BNS/12/14286/12/67 respectively. O.P is a non-banking company registered under the Company’s Act. On maturity of the said fixed deposits when the complainants  visited the office of the O.P and asked for maturity amount, they were asked to deposit their FD Certificate in original with the said Director namely Swapan Kumar Ghosh.  But no payment was made by the O.P inspite of the repeated visits by the complainants. So, the complaint has been filed by the complainants praying for directing the O.P to pay the maturity amounts of total sum of Rs.12,23,474/- along with interest @12% p.a , to pay Rs.300,000/- as compensation and Rs.20,000/- as litigation cost.

The complainants have filed receipts  issued by the O.P .

The O.P has contested the case by filing written version denying and disputing the allegations.  However, it is specifically contended that the O.P offered to the complainant to make payment by instalments. But the complainants did not agree with the proposal. The O.P is ready and willing to refund the invested amount but unable to pay the same as the bank account of the O.P has been seized by the Directorate of Economic Offence.

So, the only point requires determination whether the complainants are entitled to the relief as prayed.

 Decision with reasons

                In support of their claim as referred to above that the complainants have filed receipts being nos. 34365, 12383/43401, 34543, 34667, 19597/24349 and 14286/16636 in respect of the account nos. BNS/34365/15/36, D/12383/11/60, BNS/34543/15/36, HNS/34667/15/36, B/19597/12/66 and Account no. B/12/14286/12/67 respectively  issued by the O.P company represented by its Director named therein.  It is apparent from the written version filed by the O.P that the deposit of the said amounts  with the O.P and issuance of the certificates by the O.P has not been denied and disputed. It is specifically stated in the written version that they never denied to make the payment and had offered to the complainants to make the payment by instalments. But the complainants did not agree and the O.P is always ready and willing to refund the invested amount to the complainant. If that be so, then since admittedly the said amount deposited by the complainants have not been paid , the complainants are entitled to refund of the maturity amount as mentioned in the receipts issued by the O.P. So, complainants are entitled to the matured amount of total sum of Rs. 12,23,474/-  along with interest @12% p.a . However, since interest is allowed, we find no justification to pass an order of compensation as prayed for.

Hence,

              ORDERED

that  CC/129/2019  is allowed on contest against the O.P.

The O.P is directed to pay Rs.12,23,474/- to the complainants along with interest @12% p.a from the date as agreed in the certificates to till this date within 2 months from this date.

The O.P is further directed to pay Rs.8000/- as litigation cost within the aforesaid period of 2 months. In default of payment the entire sum shall carry interest @9% p.a till realisation.

Complainant shall hand over the original receipts/certificates to the O.P on payment of the sum.