Judgment : Dt.10.3.2017

            This is a complaint made by (1) Sri Krishna Das Bardhan, son of late Hrishikesh Bardhan and (2) Smt. Sarbani Bardhan, wife of Sri Krishna Das Bardhan, both residing at A/7, Laxmi Narayan Colony, P.S.-Netaji Nagar, Kolkata-700 047 against Teacher’s Welfare Agro Limited, having its office at 10/99, Bijoygarh, P.S.-Jadavpur, Kolkata-700 092 represented by its Managing Director namely Mr. Swapan Kumar Ghosh, residing at 107, Regent Estate, Kolkata-700 092, praying for refund of invested money with interest of 12.5% p.a. from 7.7.2015 and further direction to pay Rs.50,000/- as compensation and Rs.10,000/- as litigation cost.

            Facts in brief are that Complainant No.1 is a senior citizen aged about 61 years and retired warrant officer of Indian Air Force. After retirement he got some amount as retirement benefit. OP is a non-banking company and Swapan Kumar Ghosh is the Managing Director. Complainant invested an amount of Rs.50,000/- in one fixed deposit account for 66 months. This amount matured on 7.7.2015. After maturity Complainant went to the office of the OP for taking back the money. But OP deposited the certificate. But, OP did not refund the money on one ground or other. Thereafter, Complainant informed Jadavpur P.S. ultimately. Since he could not realize the money he filed this complaint.

            OP filed written version in which he has denied the material allegations of the complaint. Further, in written version he has stated that this complaint has been filed without any reason and due to demonetization OP Company is facing difficulties and so he is not in a position to return the money. So, OP has prayed for dismissal of the complaint petition.

Decision with reasons

            Complainant filed affidavit-in-chief. But, thereafter the OP did not file questionnaire and the argument was heard.

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

            On perusal of the prayer portion of the complaint, it appears that Complainant has prayed for refund of invested money.

            In this regard, on perusal of the copy of the certificate issued by the OP, it appears that this certificate became due on 7.7.2015 and OP was to pay Rs.1,00,000/- to the Complainant. But, he did not pay and so the case was filed.

            As such, we are of the view that Complainants are entitled to refund of Rs.1,00,000/-, the maturity of which became due on 7.7.2015. There is no ground mentioned in the complaint so that the compensation and litigation cost be awarded. Accordingly, we are of the view that Complainants are not entitled to any compensation or litigation cost. 

            Hence,

ordered

            CC/504/2016 is allowed on contest. OPs are directed to refund Rs1,00,000/- within three months of this order, in default, the amount shall carry interest of 10% p.a.