Date of filing: 02.08.2019                                         

Date of Judgment: 09.11.2022

Mrs. Sashi Kala Basu, Hon’ble President.

This consumer complaint is filed by the complainant namely Ajit Kumar Samanta  under Section 12 of the C.P Act, 1986 against the opposite parties (referred to as O.P.s hereinafter) namely (1) Teacher’s Welfare Credit & Holding Ltd., represented by its director (2) Swapan Kumar Ghosh and Branch Manager (3) Dilip Ghosh alleging deficiency in service on their part.

The case of the complainant, in short, is that the complainants deposited a total sum of Rs. 2,00,000/- towards MIS on different dates with interest @ 12.5% p.a. with the O.P  being Account no. F/14171/12/67, F/21819/13/66, F/21818/13/66 and F/22410/13/66. The amount payable on its maturity was Rs. 4,00,000/-. O.P is a non-banking company registered under the Company’s Act, being represented by its Director Swapan Kumar Ghosh. OP has paid the monthly interest at agreed rate of 12.5% up to the month of December 2014 but thereafter stopped paying any sum. It is learnt that OP Swapan Kumar Ghosh collected money from the common people and thereafter defrauded the investor by not making any payment after maturity of their investment. So the present complaint is filed by the complainant praying for directing the O.P.s to pay the maturity amount of Rs. 4,00,000/- along with interest @ 12.5% p.a, from January 2015, to pay Rs. 30,000/- as compensation and Rs. 50,000/- as litigation cost.

The complainant has filed the receipts issued by the O.P.

The O.P.s 1 & 2 appeared on receipt of summon but no written version was filed. So the case has been directed be proceeded exparte. O.P. No. 3 also did not take any step inspite of service of notice.

So, the only point requires determination is whether the complainant is entitled to the relief as prayed?

Decision with reasons

            In support of his claim as referred to above, complainant has filed receipt no. 14171/21176, 21819/29370, 21818/29369 and 22410 in respect of Account Nos. F/14171/12/69, F/21819/13/66, F/21818/13/66 and F/22410/13/66 issued by the O.P Company represented by its Director Swapan Kumar Ghosh. The receipts were issued in the name of the complainant on deposit of Rs. 2,00,000/- in total with interest @ 12.5% p.a. The maturity amount payable was Rs. 4,00,000/-. Date of maturity was on 16.02.2017. 06.09.2017, 06.09.2017 and 09.10.2017.  On consideration of the documents as referred to above, claim of the complainant about the deposit of sum Rs. 2,00,000/- and on its maturity amount payable was Rs. 4,00,000/- is well established especially as before this Commission, no contrary material is forthcoming. So complainant is entitled to the matured amount of Rs. 4,00,000/- along with interest @ 12.5% p.a. as agreed from January 2015. However, since interest is allowed, we find no justification to pass an order of compensation as prayed for.

Hence,

             ORDERED

That CC/394/2019 is allowed exparte.

The O.P.s are directed to pay matured amount of Rs. 4,00,000/- to the complainant together with interest @ 12.5% p.a from the January, 2015 to till this date within 2 months from this date.

O.Ps are 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 further interest @ 12.5% p.a till realisation.

On payment of the sum by the O.P, complainant shall hand over the original receipt/certificate to the O.P.