Judgment : Dt.10.3.2017

            This is a complaint made by (1) Arun Kanti Banerjee, son of Late Ramesh Chandra Banerjee, (2) Kalpana Banerjee, wife of Arun Kanti Banerjee, both are residing at EA/3, Deshbandhu Nagar, Baguihati, P.S.- Baguihati, Kolkata-700 059 against Teacher’s Welfare Credit and Holding Limited, having its registered office at 10/99, Bijoygarh, P.S.- Jadavpur, Kolkata-700 092, praying for direction upon the OP to make payment to the Complainants to refund the money invested by them in MIS deposit account to the OP with interest @ 12.5% p.a. from January, 2015 and compensation of Rs.3,00,000/- and litigation cost of Rs.50,000/-.

            Facts in brief are that Complainants are senior citizens and they invested a sum of Rs.15,00,000/- in the MIS deposit account for 36 months and the account was to mature on 1.2.2017. The maturity value was Rs.15,00,000/-. OP paid monthly interest up to December, 2014. Thereafter, Complainant came to know that  OP runs a chit fund and he did not return the money. So, Complainant filed this case.

            OP filed written version wherein OP has denied all the allegations and has stated that this complaint was filed by the Complainant after hearing some news relating to the fraud committed by the OP and the complaint is filed at a premature stage. So, OP has prayed for dismissal of the complaint petition.

 Decision with reasons

            Complainant filed affidavit-in-chief wherein he has reiterated the facts mentioned in the complaint. Against this OP has not filed questionnaire. Thereafter, OP did not appear. So, the argument by the Ld. Advocate on behalf of the Complainant was heard.

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

            On perusal of the copy of the certificate, it appears that these certificate was to mature on 1.2.2017. This complaint was filed on 27.10.2016 that means it is clear that this complaint was filed at a premature stage. Furthermore, it appears that the Complainant has not made out any ground for allowing the compensation and litigation cost. It is because complaint was filed at a premature stage, the question of awarding compensation or litigation cost does not arise.

            It also appears in the prayer portion, Complainants have stated that they have filed this complaint for refund of the money invested by them in the MIS deposit account that means there is no mention as to what amount they want as refund. Moreover, if a person invests something with any Bank or in any non-banking organisation, that does not fall under the Consumer Protection Act.

            Hence,

ordered

            CC/509/2016 and the same is dismissed on contest.